Edited by Colin Fenwick and Valérie Van Goethem
Peter J. Boettke and Todd J. Zywicki
The Austrian contribution to the development of law and economics is the study of endogenous rule formation, or the spontaneous evolution of social institutions, which can be traced to the founder of the Austrian School, Carl Menger. While Menger’s emphasis on spontaneous institutional analysis was born out of the Methodenstreit, a methodological battle engaged against the German Historical School, this chapter argues that the Austrian contribution to law and economics emerged directly from the socialist calculation debate against market socialism. This debate, we will argue, played an essential role in the re-discovery of the institutional framework in economics during the post-WWII era, particularly in the development of law and economics. In the aftermath of the socialist calculation debate, Menger’s earlier emphasis on institutional analysis was reemphasized by F.A. Hayek, who in turn influenced the early pioneers of law and economics, particularly Aaron Director, Ronald Coase, and Bruno Leoni.
Colin Fenwick and Valérie Van Goethem
The Promises and Limitations of the New Financial Economy
Roger M. Barker and Iris H.-Y. Chiu
We discuss the rise of institutional fund management as part of the global trend towards financialisation. This context allows us to draw out the key characteristics of modern institutional fund management which are important in shaping their corporate governance roles. The context of financialisation allows us to appraise whether institutions behave like fiduciary or universal capitalists as some commentators have proposed, or self-interested agency capitalists, as suggested by others. Key words: financialisation, fiduciary capitalism, universal owners, agency capitalism, money manager capitalism, asset allocation.
Positioning Women in Science
Valerie Bevan and Caroline Gatrell
Chapter 1 asks the questions: why should men dominate the senior roles in the science workplace; why do women not achieve as highly as men, despite women being in the majority at the lower grades? The introduction presents a new framework whereby four mechanisms act together to keep women in their subordinate ‘place’: subtle masculinities, whereby masculine cultures in science tend to privilege men and marginalize women; secret careers, whereby subtle masculinities invade heterosexual households so that women conduct their careers in secret, hiding their career aspirations from their partners; the concept of creative genius that is associated with male bodies, meaning that women find it hard to envision themselves (or be envisioned by others) in such a role; and m[o]therhood, in which women’s potential for maternity positions them as different and ‘other’. The introduction also provides information on the research design, ethical consideration and a concise review of global literature on women in science.
New Contexts and Challenges in Europe
Stefania Marino, Rinus Penninx and Judith Roosblad
The book offers an analysis of the relationship between trade unions, immigration and migrant workers across 11 European countries in the period between 1990 and 2015. This introductory chapter explains the editors’ approach to this study, which is based on the comparative framework as developed in an earlier book by Penninx and Roosblad in 2000. This framework is critically reconsidered and its validity is checked in the light of recent contextual changes. It informs the development of the main questions that will underpin both the structure and content of the 11 country cases and the comparative analysis presented in the concluding chapter. In addition, this introduction addresses relevant methodological aspects and outlines the structure of the book.
Barry D. Solomon and Kirby E. Calvert
The Introduction has three aims. First, the editors unpack the meaning of ‘geographies’ as it relates to energy studies, and question the significance of distinguishing energy from other geographical traditions. Indeed, reviews of research in energy geography since the early 1980s have failed to uncover coherent or integrated themes. The editors ponder the implications of thinking about energy as a concept, rather than as merely an object of empirical analysis. Second, they situate the volume in the recent geography literature. Third, they identify themes and big questions that have emerged throughout the volume, finding inspiration in the work of the distinguished list of contributors. The Introduction also provides a brief overview of the chapters in the Handbook.
Introduction: empowering young people in disempowering times? Creating collaborative and transformative capabilities through participation
Fighting Inequality Through Capability Oriented Policy
Hans-Uwe Otto, Valerie Egdell, Jean-Michel Bonvin and Roland Atzmüller
In many European countries, a large number of young people aged 15 to 29 years have challenging and complex educational or labour market experiences. Since the 2008 economic crisis, the situation of young people has again deteriorated dramatically in many European countries and in particular in southern and eastern Europe. Employment and training opportunities have reduced, and levels of poverty and social exclusion have increased, not only, but especially, for young people. Thus, the question is emerging as to whether young people are a group at great risk of becoming, being and staying socially disadvantaged. It is this problem of the social disadvantage of young people in Europe in the aftermath of the economic crisis that this volume focuses upon. After having peaked in the immediate years after the beginning of the financial crisis in 2008 and the subsequent sovereign debt crisis in a range of European countries, the unemployment rate in the EU-28 for the 15 to 19 years age group stood at 24.6 per cent,1 for the 20 to 24 years age group at 19.1 per cent, and at 12.4 per cent for the 25 to 29 years age group.2 With the remarkable exception of Germany, Austria and Switzerland, who experienced a temporary peak of youth unemployment in the years preceding the crisis of 2008 (albeit on levels way below the situation in the so-called European periphery), in most European countries youth unemployment had remained relatively stable since the early 2000s – although a high degree of variation between European member states has to be taken into account.