Browse by title
Lasse Gerrits and Stefan Verweij
We argue that infrastructure projects are complex and that evaluations of such projects need to do justice to that complexity. The three principal aspects discussed here are heterogeneity, uniqueness, and context. Evaluations that are serious about incorporating the complexity of projects need to address these aspects. Often, evaluations rely on single case studies. Such studies are useful because they allow researchers to focus on the heterogeneous, unique, and contextual nature of projects. However, their relevance for explaining other (future) projects is limited. Larger-n studies allow for the comparison of cases, but they come with the important downside that their relevance for explaining single projects is limited because they cannot incorporate heterogeneity, uniqueness, and context sufficiently. The method Qualitative Comparative Analysis (QCA) presents a promising solution to this conundrum. This book offers a guide to using QCA when evaluating infrastructure projects.
Katharine McGowan, Frances Westley and Ola Tjörnbo
Ana Rosa Ribeiro de Mendonça and Simone Deos
The authors emphasize an overlooked raison d’être for public banks. They argue that limiting public banks to filling the gaps left by private banks, the standard argument in economics, neglects a very important dimension of public banks, that is, their capacity to act countercyclically and thereby stabilize access to credit during economic downturns. Taking a cue from Hyman Minsky, they point to the immanent volatility of financial markets dominated by private actors. In order to counter destabilizing tendencies, the presence of institutions with the logic of action that differs from that of the market is necessary. As public banks are not primarily concerned with profitability, they can play this role. To a certain extent, their presence in the market is an automatic stabilizer because public banks provide credit with long maturation. In times of crisis, they can also be used for discretionary intervention, that is, opening up new credit lines.
A Fitness Landscape Model Approach
Lasse Gerrits and Peter Marks
Melissa K. Scanlan
The current global economic system, which is fueled by externalizing environmental costs, growing exponentially, consuming more, and a widening wealth gap between rich and poor, is misaligned to meet the climate imperative to rapidly reduce greenhouse gases (GHGs). Amidst this system breakdown as we reach the end of the Industrial Age, the new economy movement has emerged to provide an alternative approach where ecological balance, wealth equity, and vibrant democracy are central to economic activity. Laws are the fundamental infrastructure that undergirds our economic and political system. Environmental law is typically conceived as a set of rules that establish pollutant limits for specific waterbodies, protect an identified species, or direct an industry to use a required technology. Although necessary, these types of law do not address the fundamentals of our political economy, and the most dramatic failure of environmental law is seen in increasing amounts of GHGs and global climate disruption. In order to develop a new economic system that is aligned with a climate and economic justice imperative, we need laws that will facilitate the new system and discourage the old. This chapter discusses systems thinking and systems change, highlighting leverage points to achieve change. It gives an overview of the new economy movement that has emerged to provide a new narrative, and using a systems lens, identifies areas where the law needs to evolve to facilitate building a more sustainable, equitable, and democratic future.