bluuebunny/crossref_metadata_2025 huggingface dataset:
Sequences of Policy Failures and Effective Policy Responses
Authors: Hemerijck Anton , Schludi Martin
Published: October 2003

The chapter examines the dynamics of policy responses and their ultimate effectiveness. It identifies typical sequences of policy failures, caused by the misfit between new problems and existing policy legacies, which may generate processes of policy learning that ultimately produce effective solutions; but it also points to instances in which policy learning is blocked by conflicts of interest or by divergent cognitive orientations in multi‐actor institutional settings. Of equal importance are sequences of lateral spillovers, where the solutions to problems in one policy area generate new problems that subsequently must be dealt with in adjacent policy areas. In the 1970s and 1980s, these spillovers were most important in countries where the rise of open unemployment was mitigated by resort to early retirement and disability pensions. In analysing these sequences of policy failure, learning, and problem displacement, the chapter also compares and assesses the greater or lesser effectiveness of the policy responses actually adopted and identifies successful countries that were able to adjust to the challenges of the open economy without abandoning their welfare‐state goals.
Adjusting Badly the German Welfare State, Structural Change, and the Open Economy
Authors: Manow Philip , Seils Eric
Published: October 2003

Germany was comparatively successful in weathering the macroeconomic crises of the 1970s and early 1980s, and its industrial sector remained highly competitive throughout. Nevertheless, unemployment has been high and is still rising. The impact of unification is only a part of the explanation. Instead, the very formula for Germany's past success is also the key to its current problems. Cooperative labour relations, on which German international competitiveness depends, were maintained by using the welfare state's generous exit options from the labour market for older and less productive workers. Given the prevailing mode of financing the “Bismarckian” welfare state, however, the resulting rise of social security contributions added to the costs of labour throughout the economy. As the government relied on the same solution in coping with the massive employment losses in East Germany after unification, non‐wage labour costs have risen to a level that can be sustained only by highly productive types of work. This constrains the growth of private services that have compensated industrial job losses in other countries.
A Fine Balance Women's Labor Market Participation in International Comparison
Authors: Daly Mary
Published: October 2003

One of the central causes of change in the welfare state has been the changing economic role and employment behaviour of women, especially of married women. Factors related to gender are the key to explaining labour‐market variation among developed countries. In explaining how women's presence has transformed labour markets in 23 OECD countries, the chapter draws on a wide range of possible factors, including policy packages, historical trends, and cultural norms about the family and women's roles. The analysis is based on a three‐fold model that includes supply, demand, and country‐specific contextual factors.
After Liberalization Public Interest Services and Employment in the Utilities
Authors: Héritier Adrienne , Schmidt Susanne K.
Published: October 2003

The liberalization and/or privatization of formerly highly protected, monopolistic, public utilities, and infrastructural services has added to the challenges of welfare‐state adjustment. The move to market competition is affecting these industries’ historical role not only as providers of public service goods but also as important national employers. The chapter provides an initial account of the consequences of liberalization and privatization for the quality, cost, and availability of utilities and infrastructural services and for employment. A comparison of the telecommunications and railways reforms of France, Germany, and Britain identifies different mechanisms to ensure that public service goals continued to be met and assesses the performance of the different regimes. In addition, the chapter compares the employment effects of liberalization in the telecommunications, posts, railways, and energy sectors of a wider range of countries.
The New Debate Over Minority Rights
Authors: Kymlicka Will
Published: October 2003

The ongoing philosophical debate over minority rights has three distinct stages. The first stage views minority rights as a communitarian defence against the encroachment of liberalism. The second stage revolves around the question: what is the possible scope for minority rights within liberal theory? The third stage views minority rights as a response to majority nation-building, rather than a deviation from ethnocultural neutrality.
Liberal Culturalism: An Emerging Consensus?
Authors: Kymlicka Will
Published: October 2003

Liberal culturalism has come to the forefront of debates on multiculturalism and minority rights. Liberal culturalists believe that liberal democratic states should not only uphold the civil and political rights of citizenship, but also adopt group-specific rights or policies that recognize and accommodate the distinctive identities and needs of ethnocultural groups. They support policies which allow members of ethnic and national groups to express and promote their cultural and identity, but reject policies that impose a duty on people to do so.
Human Rights and Ethnocultural Justice
Authors: Kymlicka Will
Published: October 2003

Existing conceptions of human rights fail to address serious issues of ethnocultural justice. The reasons why human rights are insufficient for ethnocultural justice, and the possibility of greater consensus on the transnational application of human rights are discussed. Three areas where individual rights fail to adequately protect the interests of national minorities are: decisions on internal migration/settlement policies, decisions on the boundaries and powers of internal political subunits, and decisions on official languages.
Minority Nationalism and Multination Federalism
Authors: Kymlicka Will
Published: October 2003

Federalism provides a mechanism for the fair accommodation of ethnocultural groups in multination states. A well-designed federal system can encourage minorities to reject secession. However, federalism should not be viewed as a magic formula that will erase the issue of secession from the political agenda nor prevent secessionist movements in multination states.
The Theory and Practice of Immigrant Multiculturalism
Authors: Kymlicka Will
Published: October 2003

The policies of Western democracies on immigrants have changed in the last 30 years from ‘assimilation’ to ‘multiculturalism.’ It is argued that most of these policies are justified in principle, and successful in practice. Multiculturalism is limited by the larger contexts of common public institutions and basic liberal-democratic principles. These limits form a coherent and defensible conception of immigrant integration.
Misunderstanding Nationalism
Authors: Kymlicka Will
Published: October 2003

This chapter focuses on recent literature on nationalism. It reviews the books ‘Blood and Belonging’ by Michael Ignatieff and ‘The Wrath of Nations’ by William Pfaff. It argues that both overlook the cultural component of civic nationalism. Liah Greenfield’s book is recommended for an understanding of the historical origins of nationalism, and Yael Tamir’s book for insights on why national identity matters to people.
The Paradox of Liberal Nationalism
Authors: Kymlicka Will
Published: October 2003

This chapter focuses on the paradox in the Quebec-Canada relationship. Quebec nationalists have become increasingly preoccupied with maintaining their provincial jurisdiction despite the fact that they share the same basic values as other Canadians. The vast majority of Canadians have no desire to ‘get’ or insult Quebecers. This paradox is explored by the essays in Carens’ book, which are described in detail.
Minority Nationalism and Immigrant Integration
Authors: Kymlicka Will
Published: October 2003

This chapter explores the potential conflict between minority nationalism and immigration. Many minority nationalists welcome immigrants, and allow them to maintain and express their ethnic identity. However, the chances of a national minority adopting such a ‘civic’ or ‘post-ethnic’ model of nationalism will require policies that will give them some control over the process of immigrant integration, and establish or protect the pre-eminence of their language on its historic territory. This creates a potential dilemma, since these liguistic and educational policies may be illiberal.
Education for Citizenship
Authors: Kymlicka Will
Published: October 2003

This chapter explores issues on citizenship education. It shows how liberal citizenship is more complicated than often realized, and why schools play a key role in educating children for citizenship. It considers three controversies in ethnoculturally diverse societies: whether citizenship education requires common schooling, whether the promotion of responsible citizenship requires the promotion of personal autonomy, and whether promoting a shared civic identity requires teaching both shared political values and specific national or cultural identities.
Major Recessions
Authors: Dow Christopher
Published: October 2003

In the twentieth century, there have been five major recessions: two in the interwar period, and three more starting in 1973, 1979, and 1989. This book focuses on events in the UK, but sets them in their international context and makes frequent comparisons with other countries. Major recessions happened at a similar time in all major countries, and the lessons are general. Three main conclusions are reached: (1) major recessions reflect abrupt failings off in demand, not supply; (2) these are due to identifiable demand shocks and to swings in consumer and business confidence that amplify the direct effects of demand shock; (3) major recessions are not predictable. After an introductory chapter, the book is arranged in three main parts: Prior assumptions and methodological preliminaries (five chapters)––the theoretical questions that arise in the course of attempts to interpret history, but are too complicated to consider during the course of the historical narrative itself; (historical) Case studies of five major recessions (four chapters); and Conclusions (three chapters––the first two provide a summary of the book). In the final chapter, the author provides an insider's view on how to avoid future severe recessions: action must be taken to control booms, which if uncontrolled will lead to a period of bust, and once a major recession has begun, fiscal and monetary policy must be adjusted to mitigate the downturn. Often unpopular with economists, this is the line that many governments and central banks take: the book may help them to have more success.
The Causal Structure of the Economy
Authors: Dow Christopher
Published: October 2003

Any such study as this one on recessions necessarily makes assumptions about the causal structure of the economy, and about the nature of underemployment or overfull employment. These involve much‐argued theoretical questions, and this chapter discusses three of the issues concerned: Sect. 3.1 states assumptions about the basic causal structure of the economy; Sect. 3.2 considers the continuing shift implicit in steady growth in the price of factor input relative to that of output, and how this mechanism operates; Sect. 3.3 discusses the phenomenon of persistent underemployment, which it argues is a stable state, which implies that the economy lacks any general power of self‐adjustment of the sort that would restore high employment. The discussion is more heterodox than novel, since defining the assumptions that are made involves taking a view on a number of controversial issues. There are two short appendices: Appendix A3.l is a note on the theoretical discussion about the features of the economic system that allow the possibility of unemployment; Appendix A3.2 summarizes the case against the High Real Wage theory of unemployment.
Supply and Demand Influences on the Rate of Growth
Authors: Dow Christopher
Published: October 2003

This book is mostly about demand, and how in the short term fluctuations in demand cause fluctuations in output and productivity growth. Over the longer term, major variations in growth rates have undoubtedly originated from the supply rather than the demand side. The aim of this chapter is to summarize what is known in general about variations in the rate of growth; and to argue that the kind of effects that supply‐side factors have is different from what is needed to explain the abrupt short‐term falls in output that occur in major recessions. The discussion thus touches on a large subject of which knowledge is incomplete, but since its relevance is indirect, discussion is brief and touches only on what is essential for the present purpose: Sect. 4.1 summarizes what is known about variations in growth rates; Sect. 4.2 first gives a general explanation––eclectic but not basically novel for the process of growth, and then goes on to offer explanations for some particular ways in which growth rates have varied since 1920; Sect. 4.3 summarizes conclusions. There are two short appendices: Appendix A4.l is a note on growth accounting and two other studies of growth; Appendix A4.2 gives estimates of the growth of output and exports of manufactures of six countries from 1870 to 1970.
Shocks and Responses in Major Fluctuations
Authors: Dow Christopher
Published: October 2003

This chapter discusses how the economy behaves in the course of major fluctuations. The detailed case studies of individual major recessions in Part II of the book suggest extensions to the standard account of the economic response to shocks. These are expounded in Sect. 5.1, which thus completes the theoretical introduction to the case studies provided in Part I. Section 5.2 is primarily empirical and tests statistical indicators of some main types of shock, and Sect. 5.3 uses this material to give a summary characterization of large and small fluctuations. Appendix A5 gives new estimates of fiscal policy impact.
The Long Interval Without Major Recession, 1945–1973
Authors: Dow Christopher
Published: October 2003

The quarter‐century or so after World War II was a period when growth was relatively fast, demand was high, and unemployment was low, and when there were no large fluctuations as defined in this book; it is referred to as the Golden Age, and raises large questions of a sort central to the purpose of the book. Section 7.1 gives an overview of the period, and Sect. 7.2 then considers the main questions raised: what caused fast growth and high demand to continue for so long, or prevented small recessions from developing (as in other periods) into big ones; were the conditions that produced the Golden Age simply exceptional in the history of developed economies and something we are unlikely to see again; and if so what did this lucky chance consist of? While there were no large fluctuations, there was a succession of small ones, and in Sect. 7.3, these are compared with the larger fluctuations that occurred in other periods, and the question of whether they were due to mistaken policy or to something more basic is looked at. Section 7.4 comes back to the larger issues: did this Golden Age contain within itself the seeds of its own destruction; were there developments in the period (such as accelerating inflation, or the flagging of investment demand) which would have brought the long period of fast growth and high demand to an end without an exogenous shock? Finally, Sect. 7.5 draws some general conclusions about the behaviour of the economy.
The Two OPEC Recessions (1973–5 and 1979–82)
Authors: Dow Christopher
Published: October 2003

The recession of 1973–75 was the first occasion since the war when total output fell absolutely, and it was followed six years later by the recession of 1979–82, when output again showed an absolute fall. The question that this book started out to answer in Ch. 1 was why 1973 was so crucial a turning point: to determine that, one has to look at all the major fluctuations of the economy since 1920, although the recession of 1973–75 and the one that followed in 1979–82 retain a central interest. Each of these two recessions coincided with one of the vast jumps in the world price of oil, known as OPECs I and II, and it is argued that these played a large role in their genesis; although in each case there were also other causes; these two recessions therefore called here the OPEC recessions––there are some important differences between them but also important similarities, and they were both very different from the major recessions that came before the war and the next recession. They are therefore discussed together in this chapter, which takes the story to 1982––the year when the economy can be considered to have emerged from the second of the two recessions. Section 8.1 discusses the background issues––the political developments and the origin of oil price shocks with reference to the UK, Sect. 8.2 seeks to explain the fluctuations of UK demand and output in the period, starting with the 1972 boom––which is seen as one cause of the recession that followed, and Sect. 8.3 considers the general lessons to be derived from the decade; Appendix A8 presents an econometric analysis of the inflationary surges of the 1970s.
The Causation of Major Recessions: Summary and Discussion of Empirical Findings
Authors: Dow Christopher
Published: October 2003

The empirical findings of this study rest on two sorts of evidence: first, a set of detailed case studies of the five major UK recessions since 1920; and second, a statistical analysis that seeks to explain these and other fluctuations in terms of indicators of four types of exogenous demand shock. This chapter summarizes this evidence and its underlying rationale; it needs to be read with Ch. 10, and like that aims to be self‐contained; the picture presented does not have to be accepted or rejected as a bloc. The explicanda of the study are taken to be not absolute falls in output during a recession, but deviations of output from previous trend rates of constant‐employment growth; Sect. 11.1 summarizes how such trends are estimated, and this provides a rough estimate of the output loss resulting from major recessions. Sect. 11.2 summarizes the statistical analysis of the causation of major recessions and other fluctuations, and recapitulates the methods used to estimate the scale of shocks and their effect on output; Sect. 11.3 provides a summary of the case studies of the five major UK recessions, and the Great Depression in the USA; and Sect. 11.4 summarizes possible reasons for the long period from World War II to 1973 that saw fairly steady growth without major recessions. Section 11.5 concludes with notes on, first, the effect of the three major recessions since 1973 on the stock of public debt; and, second, whether major recessions are predictable.
Are Recurrent Major Recessions Inevitable?
Authors: Dow Christopher
Published: October 2003

Previous chapters of this book have sought to explain why the major recessions of the twentieth century occurred; this chapter tries to answer the question of whether recurrent major recessions are inevitable, or whether there are steps that governments (or central banks) can take to avoid or mitigate them. The questions involved extend beyond those dealt with earlier, and raise not only the disputable issues of economic theory but also many new ones, including broadly political questions. Section 12.1 deals with background issues, attributing a degree of effectiveness to policy, and recapitulating this and other respects in which the author's view differs from a neoclassical view; the general limits to state action are then discussed, and finally a view is set out about inflation. Section 12.2 deals with general questions about the instruments of economic policy; despite the waves of deconstruction that are generally taken to have destroyed the intellectual foundations for a Keynesian fiscal policy, the author sees a theoretical case for it––along with severe practical limits that stem from the reactions of financial markets to government borrowing; the section goes on to discuss the effect and role of monetary policy. Section 12.3 turns to practical possibilities, and considers the kind of action that, despite the above constraints presented, ought to be possible; Sect. 12.4 then assesses the likelihood that governments will avoid or minimize major recessions in the future.
Conceptions of Truth
Authors: Künne Wolfgang
Published: October 2003

The book is organized around a flowchart comprising 16 key questions concerning truth, ranging from ‘Is truth a property?’ to ‘Is truth epistemically constrained?’. It expounds and engages with the ideas of many thinkers, from Aristotle and the Stoics, to Continental analytic philosophers like Bolzano, Brentano, Frege, and Kotarbinski, to such leading figures in contemporary debates as Dummett, Putnam, Wright, and Horwich. In the course of this discussion, many important distinctions (between varieties of correspondence, for example, between different readings of ‘making true’, between various kinds of eternalism and temporalism) are emphasized that have so far been neglected in the literature.

According to our workaday concept of truth, what we think is true if and only if things are as we think they are. A ‘modest account’ of truth‐apt thinkables and of truth, in terms of higher‐order quantification over propositions, can spell out this platitude without invoking notions like correspondence, fact, or meaning. This account offers common ground to all parties in the realism/anti‐realism controversy concerning truth. In the final chapter, an argument from blind spots in the field of justification is used to support the alethic‐realist claim that truth outruns justifiability.
Some Questions About Truth
Authors: Künne Wolfgang
Published: October 2003

The questions concerning truth that I plan to discuss are set up in a flowchart, and the answers to be defended in the course of the book are marked. I give my reasons for putting the Identity Theory aside (which takes truths to be facts), for bracketing Primitivism (which takes the concept of truth to be explanation‐resistant), and for shunning ‘deflationism/inflationism’ talk as underconstrained philosophical jargon. I explain what I mean by ‘alethic realism’ and ‘alethic anti‐realism’, and I argue (against Alston and D. Lewis) that the Denominalization Schema ‘It is true that p, iff p’ cannot be used as a lethal weapon against every anti‐realist conception of truth.
A Bogus Predicate?
Authors: Künne Wolfgang
Published: October 2003

According to Frege, truth is at best a very strange kind of property. I expound Frege's redundancy/omnipresence thesis according to which the two sides of an instance of the Denominalization Schema express the same proposition, argue that this thesis is compatible with the assumption of truth‐value gaps, and begin to raise (Bolzanian) doubts about it. According to truth‐theoretical nihilism, truth isn’t a property even in the most liberal sense of this word. I explain that sense and give a detailed critical exposition of several versions of nihilism including the so‐called performative theory and three prosentential theories. The fact that some truth‐candidates have names plays a key role in my argument against nihilism.
Varieties of Correspondence
Authors: Künne Wolfgang
Published: October 2003

The chapter begins with an analysis of Aristotle's definition of truth, which did not invoke a dyadic predicate like ‘corresponds to’, but which paved the way for an account of truth in terms of correspondence to objects (rather than facts) that was to prevail for many centuries. I present Bolzano's conception as closest in spirit to Aristotle's. (In an interlude, I comment on notions of non‐propositional truth in Aquinas, Hegel, and Heidegger.) Moore and the Logical Atomists propounded (very different) fact‐based correspondence views, and the late Russell took events to be what empirical truths correspond to. I expound these theories and discuss various objections such as Frege's Treadmill and Gödel's and Davidson's Slingshot. The intuition that truths are somehow ‘made true’ by something else is often said to underlie all attempts to explain the concept of truth in terms of correspondence and to survive their decline. I distinguish propositional and ontic readings of ‘making true’ and evaluate them.
In and out of Quotation Marks
Authors: Künne Wolfgang
Published: October 2003

This chapter is about Tarski's semantic conception of truth, about disquotationalism, and about the relationship between the two. After a detailed exposition of the Tarskian project of defining a truth‐predicate for a given language, paying special attention to his Criterion of Material Adequacy, I focus upon three questions: (1) Does a natural language (if curtailed of its semantic vocabulary) yield to Tarski's technique or to Davidsonian variants thereof? (2) Which explanatory ambitions concerning the concept of truth did Tarski have, and, in particular, did he try to rehabilitate a fact‐based correspondence theory of truth? (Here it turns out to be helpful to take his background in Austro‐Polish philosophy into account.) (3) Did Tarski achieve the explanatory goals? In the second part of the chapter, I raise objections against the claim that the two sides of an instance of the Disquotation Schema, ‘“p” is true iff p’, express the same proposition, and against the way in which many disquotationalists try to account for the expressive utility of ‘true’. Finally, I explain and criticize Hartry Field's more circumspect contentions about idiolectic, and translational, disquotational truth.
Musical Works and Performances
Authors: Davies Stephen
Published: October 2003

This book provides a contextualist ontology of musical works, distinguishing works for playback from ones for performance and, among the latter, studio from live performances. Works are variously thick or thin to the extent that they determine details of their faithful renditions. Through the element of interpretation, performances are richer in constitutive properties than are the works they faithfully present. Features of the musico‐historical context in which the work is created affect what the composer can make work‐determinative via the scores he issues as instructions to performers. Scores must be read in terms of the notional conventions and musical practices they take for granted. To be of a work, a performance must match its contents, must intentionally follow the work‐determinative instructions, and must be tied by a robust causal chain to the work's creation. Also, the performance must be at least minimally faithful, so the work can be recognized in it. Authenticity is a virtue in a performance, and only small departures from the ideal are acceptable when made for the sake of an interesting interpretation. Non‐Western music can remain authentic if it assimilates influences and changes in ways compatible with its traditions and values. Recordings simulate live performances or create virtual ones and, because the medium is not transparent, are to be understood and appreciated differently from live music‐making.
How the Euro‐Zone Operates: An ECB‐Centric Euro‐Zone?
Authors: Dyson Kenneth
Published: October 2003

This chapter argues that the Euro‐zone was designed to provide a central role for the European Central Bank (ECB), with integrative powers in excess of those available to the European Commission. It examines the main dimensions and contextual parameters of the interactions that form the Euro‐zone, the wider complexity of inter‐institutional relations, and the extensive powers of the ECB as an actor in the European integration process.
How the Euro‐Zone Operates: A ‘Two‐Level’ Game, a Child of the Franco–German ‘Couple’, or a New ‘Motor’ For Europe?
Authors: Dyson Kenneth
Published: October 2003

This chapter analyses the political leadership dynamics that have underpinned both the creation of the Euro‐zone by the member states of the EU and their coming to terms with the extensiveness of the powers conferred on the ECB. The key characteristic is the ‘two‐level game’ structure imposed by the relationship between the EU and the national governments of its members, and the key arena in which that relationship is played out is the highly secretive Economic and Financial Committee. However, the Euro‐zone can also be described as the ‘child’ (if potentially a wayward one) of the Franco‐German relationship and its function as the ‘motor’ of European Monetary Union (EMU) policy.
How the Euro‐Zone Operates: The Institutional Approach
Authors: Dyson Kenneth
Published: October 2003

This chapter offers a comparative assessment of three types of institutional approach (historical, sociological, rational‐choice) to how the Euro‐zone operates, outlining the strengths and limitations of each. It examines the differences between macro‐political (top‐down) and micro‐political (bottom‐up) perspectives, and discusses their varying predictions in respect of the Euro‐zone's long‐term stability. The analysis again supports the view that the Euro‐zone will require a Kantian political culture of multilateral action and collective interest and identity, if it is to flourish.
The Problem of Stability in the Euro‐Zone: Lessons from History and Economics
Authors: Dyson Kenneth
Published: October 2003

This chapter seeks to analyse prospects for the Euro‐zone's stability in terms of comparative history and economic theory. It begins by comparing the Euro‐zone with earlier examples of national currency unification, and with the Bretton Woods system, focusing, in particular, on the formative experiences of the 20‐year period of the European Monetary System (EMS). The chapter goes on to discuss the meaning and sources of stability in economic theory, especially optimum currency area theory, neo‐liberal theory about labour markets, credibility theory, and ‘regulation’ theory. Particular attention is paid to the weaknesses of these theories in dealing with the crucial political dimension of Euro‐zone stability. It will be important for Euro‐zone stability that ECB and monetary policy planners do more than recognize that ‘politics matters’ for stability, and pay adequate attention to factoring political realities into their theories and models.
The Prospects for a Stable Euro‐Zone: A Strength–Strain Model
Authors: Dyson Kenneth
Published: October 2003

This chapter aims to identify the critical variables conditioning the vulnerability of the Euro‐zone to systemic breakdown. It outlines a strength–strain model of stability, which points to an apparent paradox in the Euro‐zone. Underlying the model is a conception of the operation of the Euro‐zone as being neither wholly deterministic nor wholly chaotic, but as exhibiting a fundamental order subject to random influences. The subtlety and complexity of causes and the potential for instability is far more difficult than many analysts, whether pro‐ or anti‐EMU, are prepared to allow. It is this element of randomness that calls for resort to a strength–strain model, which explicitly sets out to classify the variables conducive to stability and instability—in particular, those relating to historical memories, the professional ideologies of central bankers, and the culture of capitalism.
The Legitimacy of the Euro‐Zone: The Problems of Social Justice, Consent, and Identity
Authors: Dyson Kenneth
Published: October 2003

From the viewpoint of stability, the Eurozone needs to be established and maintained within a normative political consensus that provides strong moral grounds for compliance with its directives. This makes it less dependent on specific non‐normative mechanisms, such as the Growth and Stability Pact, and minimizes the ‘Hobbesian’ threat to its stability arising from the political or economic disaffection that attends a ‘democratic deficit’. The consensus also serves to maximize the Lockean and Kantian pro‐integrative pressures based on political trust and morality.
Policies for a Stable Euro‐Zone: Strengthening the ‘Stabilization State’
Authors: Dyson Kenneth
Published: October 2003

This chapter sums up the arguments of the book, which point overwhelmingly to the need for a pragmatic approach to ensuring the Euro‐zone's stability, and reviews three possible ways forward. First, it draws attention to the importance of domestic political and policy developments in Germany, and their implication for Germany's role as economic hegemon within the Euro‐zone. Second, it explains the need for a fiscal transfer mechanism to assist members adversely affected by local shocks that affect them individually. Third, it calls for the emergence of a neo‐corporatist alternative to neo‐liberalism as a strategy for labour‐market flexibility. It concludes with a review of the reasons for reinforcing the Euro‐zone as a ‘stabilization state’.
What Is Objectionable About Inequalities?
Authors: Lake Christopher
Published: October 2003

Ch. 1 examines three kinds of objections to inequalities—those that focus on the consequences of inequalities, those that focus on the causes of inequality, and those that focus on the bare fact of inequality—and the ways in which these objections are linked to the kinds of advantages and disadvantages the inequalities are in. It discusses how objections to inequalities relate to arguments about responsibility and asks why certain egalitarians believe the responsibility of individuals to be a matter of indifference where holdings of goods are equal and a matter of importance where they are unequal—allowing for the possibility that some of those who think of themselves as egalitarians are really responsibilitarians in matters of distribution.
What We Are Responsible for
Authors: Lake Christopher
Published: October 2003

Ch. 3 moves on from the question of why responsibility matters to that of what we are responsible for. It asks what a political, rather than a metaphysical, account of responsibility demands in terms of its preconditions and assesses attributions of responsibility on the basis of claims about volition and affirmation. From there, it moves on to examine claims about responsibility, as these are made in the context of principles of equal opportunity.
The Egalitarian Intuition
Authors: Lake Christopher
Published: October 2003

Ch. 5 tests the egalitarian intuition—the intuition that it is objectionable for some to be worse off than others through no fault of their own. It does this by examining how claims about the background conditions facing an individual bear upon claims about the legitimacy of his foreground holdings. It argues that it is simply careless to suppose that responsibility for foreground holdings necessarily requires equality of background conditions and it points to the ways in which the commitment of egalitarians to the claims of responsibility is compromised by their focus on the elimination of differential chances, opportunities, or luck.
Natural Talents, Luck, and the Market
Authors: Lake Christopher
Published: October 2003

Ch. 6 looks at the position adopted by contemporary egalitarians on the moral status of natural talents—a position that draws much of its force from Rawls's claims about the arbitrariness of their distribution. It reveals important ambiguities within that position, not least in terms of whether the worry is about natural talents in themselves or about the social mechanisms by which rewards attach to talents, natural or otherwise. This prepares the way for a broader discussion of the extent to which responsibility‐minded egalitarians can commit themselves to endorsing markets and market outcomes.
Why Work?
Authors: Lake Christopher
Published: October 2003

Ch. 7 considers recent theoretical attempts to tie the claiming to social benefits to a willingness to work—attempts that come not from the right of the political spectrum but from the egalitarian left. It tests whether an appeal to the notion of reciprocity in support of this view really can bear the weight being put upon it, before going on to examine what, if anything, it is about work, and contributive activity more generally, that justifies placing it at the heart of accounts of who should get what. The latter part of the chapter is concerned with examining the contrasts and analogies between contemporary egalitarianism and desert theory.
The Road to Monetary Union in Europe
Authors: Padoa-Schioppa Tommaso
Published: October 2003

This is a guide to the processes that led to the creation of the European single market and the signing of the Maastricht Treaty in 1992. The 2000 edition has only a few changes, but has been expanded six years after the original publication date to assess the economic, monetary, political, and institutional significance of the euro. It also reconsiders the rationale and underlying philosophy of European Monetary Union (EMU) in the light of the developments of the previous decade. A central theme is the proposition that a group of sovereign countries cannot for long sustain free trade, unrestricted capital movements, fixed exchange rates, and full autonomy of national macroeconomic policies, so they need to move towards monetary union and a single currency. Issues that are extensively discussed include the single currency, the tasks of a European Central Bank (ECB), the European Currency Unit (ECU), the role of budgetary rules, currency competition, and the relationship between the EMU and political union. Appendices contain extracts from official documents dealing with EMU and an extensive chronology. The book is directed at academic and business economists interested in the issues surrounding EMU, commentators, and policy‐makers.
Capital Mobility: Why Is the Treaty not Implemented?
Authors: Padoa‐Schioppa Tommaso
Published: October 2003

An examination is made of the reasons for non‐implementation of Article 67 of the Treaty of Rome, which provides that member states of the European Community (now the European Union) should progressively abolish restrictions on the movement of capital between themselves in order to ensure a common market. The situation prevailing in the early 1960s and in the early 1980s is analysed, and an assessment made of three possible approaches towards defining a new community policy for European capital markets. These are following consistent macro‐policies, capital market integration, and complete European Monetary Union.
Monetary Union and Political Union
Authors: Padoa‐Schioppa Tommaso
Published: October 2003

The question of whether European Monetary Union is conceivable in the absence of political union is addressed in the light of the declaration made in 1989 by Nigel Lawson (then the British Chancellor of the Exchequer) that ‘monetary unity would require political union, which is not on the agenda’. It is noted that there are two ways to make this come true. The first is that there are good arguments to substantiate the contention that the European Union is already a political union, and the second is that the vocation of the European Union is to become a political union, and that monetary union is an important part of this process.
On the Eve of Maastricht
Authors: Padoa‐Schioppa Tommaso
Published: October 2003

The state of play in the stages towards European economic and monetary union is analysed as at 1991. The issues that had already been settled by negotiation in this year are briefly discussed, and then those that were still open at the time (which concerned the transition to the final stage of union) are examined in more detail. These are essentially three issues: the tasks and powers of the monetary institution in stage two (the European Monetary Institute); the conditions (convergence criteria) that must be satisfied before passing from stage two to the final (third) stage; and the procedures for deciding the date on which the third stage is to start—the issue of the ‘opting‐out’ clause.
Predication
Authors: McGinn Colin
Published: October 2003

The extensional view that predicates are general terms that refer severally to the members of a set of objects that satisfy them is rejected. Instead, it is argued that predicates refer to properties, and are thus singular terms like names. The distinction between names and predicates is upheld, but it is argued that what accounts for it is not the spurious distinction between singularity and plurality of reference, but rather grammatical position, and the ontological type of the reference.
The Key Literature on IB Activities: 1960–2000
Authors: Dunning John H.
Published: October 2003

The main thrust and content are considered of two influential strands of the international business (IB) literature. The first examines the development of scholarly thought on the determinants of ownership, sectoral pattern, and the geographical scope of multinational enterprise (MNE) activity. The second examines the main changes in the external—technological, economic, and political—environment that have helped to fashion these explanations. These strands are reviewed in two separate sections of the chapter, each of which considers three main time periods: the 1960s to the mid‐1970s, the mid‐1970s to the late 1980s, and the late 1980s to the turn of the twentieth century.
International Trade Theory and International Business
Authors: Markusen James R.
Published: October 2003

The aim of this chapter is to acquaint researchers in the field of international business with recent research in the field of international trade, which is beginning to incorporate aspects of international business and multinational firms into the general‐equilibrium trade models that are the tools of analysis of international trade. The typical endogenous variables in general‐equilibrium trade models are described, and a simple knowledge‐capital model of the multinational enterprise (MNE) is presented. This model offers testable hypotheses about the relationship between the pattern of multinational investment and country characteristics. Some empirical results are presented from the model, which incorporate these hypotheses. The results indicate that the model should be useful for policy analysis and positive analysis of MNEs.
Strategic Complexity in International Business
Authors: Buckley Peter , Casson Mark
Published: October 2003

It is suggested that although there have been significant theoretical achievements in international business over the past forty years, the current prospects are not so good. This chapter makes suggestions on how the subject may develop. It begins with a critique of recent calls for the use of ‘softer’ theories, and considers whether the increasing complexity of the international business environment makes formal modelling impossible; it concludes that it does not, and that much of the apparent complexity is subjective.

Two main sources of complexity are identified—uncertainty in long‐term planning, and networks (physical and social). Rational action techniques that can be used to analyse strategic complexity under uncertainty, and networks, are described, and examples of their use presented. It is suggested that the most productive theoretical developments in international business are likely to be based on this approach.
Theories of the Multinational Enterprise
Authors: Hennart Jean‐François
Published: October 2003

A critical survey is presented of some of the theories that have been used to explain why multinational enterprises (MNEs) exist, with special emphasis on the transaction costs/internalization approach. The first part of the chapter discusses early capital flow and industrial organization theories in the evolution of the MNE. The second part focuses on transaction costs/internalization theories, which are now dominant theories of the MNE.
Sovereignty@Bay: Globalization, Multinational Enterprise, and the International Political System
Authors: Kobrin Stephen J.
Published: October 2003

The impact of the multinational enterprise (MNE) on sovereignty, autonomy, and control is addressed. It is argued that the mainstream literature of the sovereignty at bay era (which followed the first dramatic expansion of the traditional MNE) did not predict the end of the nation state or conclude that sovereignty is critically compromised either in theory or practice. However, it is suggested that at the beginning of the twenty‐first century, sovereignty has become much more problematic as globalization has compromised territorial sovereignty; MNEs have played a central role in this process.
Capital Flows, Capital Controls, and International Business Risk
Authors: Berg David M. , Guisinger Stephen E.
Published: October 2003

The literature on capital flows in the world economy is reviewed, along with that on the utilization of capital controls and the broader issues of international business risks associated with debt and equity capital flows for both firms and financial institutions, active internationally. The chapter concludes with a brief discussion of some of the research topics facing the field of international business in these areas.
Multilateral Institutions and Policies: Their Implications for Multinational Business Strategy
Authors: Brewer Thomas L. , Young Stephen
Published: October 2003

Addresses the multilateral regime for foreign direct investment (FDI), which is a topic of central and increasing importance for the strategies and operations of multinational enterprises (MNEs). At least a minimal understanding of the institutional features of the multilateral regime is needed in order that the totality of the literature can be more conveniently and effectively evaluated. Section (2) of the chapter therefore notes the institutions involved (which include WTO, OECD, the UN, the World Bank, and IMF) describes the main elements of the system and illustrates its implications for business strategy and operations; the account concentrates on the role of WTO. Section (3) summarizes and evaluates diverse bodies of literature—from business studies, as well as economics, political science, and law. Section (4) proposes directions for future research.
Strategy and the Multinational Enterprise
Authors: Tallman Stephen B. , Yip George S.
Published: October 2003

A strategy analysis framework is used to examine the key strategic issues facing multinational enterprises (MNEs). The strategic analysis process is first reviewed, and then issues of international strategy are identified. These issues are then examined using the strategy analysis process. The aim is to identify the most salient issues of international strategy and to set an agenda for debate and further research.
Taxes, Transfer Pricing, and the Multinational Enterprise
Authors: Eden Lorraine
Published: October 2003

An outline is given of the complex issue of transfer pricing (the cross‐border intra‐firm transactions between related parties), as seen by multinational enterprises (MNE) managers and by governments faced with the task of taxing business profits. First, transfer pricing from the MNE's perspective, and the problems that this raises for national governments, are briefly discussed. The basic rules of international taxation as they apply to MNE profits are then reviewed. The specific rules and procedures that apply to transfer pricing, as practised in the USA and recommended by the OECD, are then outlined. The rest of the chapter discusses an alternative approach to taxing MNEs—the arm's length standard, which is based on separate accounting or the separate entity approach, and outlines future trends that are likely to have major impacts—globalization, regionalization, and the Internet.