THEORIES OF MONOPOLY CAPITALISM

Abstract. This article presents a survey of theories of monopoly capitalism. The defining characteristic of monopoly capitalism is that developed capitalist economies are seen as essentially dominated by firms which operate in oligopolistic industries. It discusses in chronological order the contributions of Hilferding, Lenin, Kalecki, Steindl, Baran and Sweezy, and Cowling to the monopoly capitalism approach. By drawing out some common features of the authors discussed we arrive at an implicit view of the nature of theories of monopoly capitalism. The macroeconomic aspects of monopoly capitalism are discussed with emphasis on the implications for the level of economic activity. A further section discusses the international aspects of the monopoly capital approach. The final section of the paper reviews criticisms of the theories of monopoly capitalism with concentration on those advanced from a Marxist perspective.     

The growing popularity of spiritual brands: What drives purchase intent?

In this study, we investigate the reason for the growing popularity of FMCG (Fast Moving Consumer Goods) household products branded, promoted and sold in India by local spiritual leaders. We find that religiosity and normative community pressure are important purchase drivers for such products. Surprisingly, pragmatism in the presence of normative pressure also contributes to demand. We argue that self-identity theory provides a contextualized explanation in association with social identity theory to explain the influence of normative pressure on increased demand. The results of the study suggest that integrating social and self-identity theories provides a fuller insight into consumer behaviour in a complex social context.     

Exploring determinants of meeting planners’ commitment to the business relationships with destination management companies

Although there is a demand for research on a business-to-business relationship between meeting planners and destination management companies, the current hospitality and tourism literature is insufficient in its attempt to understand the dynamics of this unique relationship. Recently, in the meeting industry, destination management companies have been recognized to experience a more challenging business environment due to the abundance of online vendor information which activates meeting planners’ disintermediation of destination management company services. To provide more practical implications for these key meeting players, this study urges that the key factor that encourages meeting planners to continue using destination management companies is trust. Therefore, this study examines determinants of the trust–commitment relationship as a means for meeting planners to achieve a more sustainable relationship with destination management companies. Applying and extending social exchange theory, this study also explores the determinants of the future relationship (commitment or termination). Findings of this research will provide the industry with suggestions for their relationship development.     

Consumer preferences and the international harmonization of organic standards

Harmonization of technical standards is often advocated as a means to remove technical barriers that reduce the welfare gains available from international trade. Organic standards are not currently harmonized internationally. If domestic organic standards reflect consumer tastes, and consumers have strong preferences for those standards, then harmonization to a common standard may reduce the benefits consumers receive from organic products. Through a consumer survey, conjoint analysis was used to explore the preferences of consumers in the US, the UK and Canada for organic food. The results suggest that consumers in the three countries do not have a strong attachment to the current national organic standards and that international harmonization may be a legitimate food policy goal.     

Book review

Bayard, Thomas O., and Kimberly Ann Elliott, Reciprocity and Retaliation in U.S. Trade Policy, Washington, DC: Institute for International Economics, 1994, 503 pages.

Rugman, Alan M. (Ed.), Foreign Investment and NAFTA, Columbia, SC: University of South Carolina Press, 1994, xii + 340 pages.

Zahra, Shaker A., and Abbas J. Ali (Eds.), The Impact of Innovation and Technology in the Global Marketplace, Binghamton Haworth Press, 1994, 222 pages.

Connolly, Michael, and Jaime de Melo (Eds.), The Effects of Protectionism on a Small Country: The Case of Uruguay, Washington, DC, The World Bank, 1994, 172 pages.

Andersson, Thomas, Managing Trade Relations in the New World Economy, New York: Routledge, 1993, 183 pages.

Rondinelli, Dennis A. (Ed.), Expanding Sino-American Business and Trade: China's Economic Transition, Westport, CT: Quorum Books, 1994, ix + 270 pages.

Chukwumeiue, Okezie, Choice of Law and International Commercial Arbitration, Westport, CT: Quorum, 1994, xii + 218 pages.

Welford, Richard, and Kate Prescott (Eds.), European Business: An Issue Based Approach, 2nd Edition, Philadelphia, PA: Trans Atlantic Publishers, Inc., 1994, 384 pages.

Copeland, Laurence, Exchange Rates and International Finance, Second Edition, Reading, MA: Addison-Wesley, 1994, xiv + 455 pages.

Surajaras, Patchara, and Richard Sweeney, Profit-Making Speculation in Foreign Exchange Markets, Boulder, CO: Westview Press, 1992, 280 pages.

Esty, Daniel C., Greening the GATT: Trade, Environment, and the Future, Washington, DC: Institute for International Economics, 1994, 319 pages.

Scherer, F. M., Competition Policies for an Integrated World Economy, Washington, DC: The Brookings Institution, 1994, xxii + 133 pages.

Safarian, A. E., Multinational Enterprise and Public Policy: A Study of the Industrial Countries, Hants, England: Edward Elgar Publishing Limited, 1993, 581 pages.     

Child injuries in land vehicles that do not require restraints

Abstract

The goal of this study was to determine the injury profiles of Canadian children who presented to the Emergency Department from 1990 to 2016 due to an injury caused while traveling in a form of land transportation that did not require child restraint. A case series was conducted using data from the electronic Canadian Hospitals Injury Reporting and Prevention Program (eCHIRPP). Children who were injured while travelling on land transportation for which child restraint is not required, who presented to a Canadian Emergency Department that participates in eCHIRPP between April 1, 1990 to August 29, 2016, were included. Overall, 1856 children sustained 2139 injuries (mean age: 9.8?years (SD 4.5), 45.5% male). The majority of children were injured on a school bus (49.3%). The most commonly injured body part was the head or neck (52.6%). The most common type of injury was a superficial or open wound (33.1%), followed by traumatic brain injury (19.3%). Overall, 39.4% of injuries required no treatment in hospital. Overall, approximately 70 children presented to eCHIRPP EDs per year on a land transportation vehicle that does not require restraints. Biomechanical studies are needed to improve safety on land transportation vehicles that do not require seatbelts.     

Natural Resource Agencies and Their Motivations to Partner: The Public Lands Partnership Model

Public land management agencies, such as the USDA Forest Service (USFS), utilize partnerships to accomplish a variety of tasks and meet specific targets. However, public agency personnel invest considerable time and energy to develop and maintain partnerships. Research on partnering motivations typically focuses on volunteers, nonprofit organizations and corporations, leaving the motivations of public agency personnel relatively unknown. This paper presents findings from a multiple partnership case study design on six national forests. The Public Lands Partnership Model (PLPM) is presented as a conceptualization of 13 motivations, classified into 3 distinct motivation types (i.e., interpersonal, intrapersonal, and institutional), that influence the propensity of agency personnel to partner. Additional influences, such as national forests’ external environment and internal commitment, need further exploration to confirm the PLPM and generalize results to the USFS and other agencies engaged in public land management partnerships.     

Social Technologies,Informal Knowledge Practices,and the Enterprise

This article focuses on the ways in which social technologies facilitate informal knowledge sharing in the workplace. Social technologies include both common technologies such as email, phone, and instant messenger and emerging social networking technologies, often known as social media or Web 2.0, such as blogs, wikis, public social networking sites (i.e., Facebook, Twitter, and LinkedIn), enterprise social networking technologies, etc. We know social technologies support informal interactions over digital systems and influence informal social connections among people within and across organizational boundaries. To understand the role of social technologies in informal knowledge practices, we pursue a field study of knowledge workers in consulting firms to investigate the role of social technologies in their informal knowledge sharing practices. Our theorizing from the data is guided by the conceptual premises of sociomateriality to better understand the ways social technologies are integrated with common knowledge practices. Findings highlight five knowledge practices supported by the use of social technologies. Building from these findings we offer conceptual insights regarding the material performance of different social technologies as an assemblage.     

On the Effectiveness of Monetary Policy and of Fiscal Policy

There has been a major shift within macroeconomic policy over the past two decades or so in terms of the relative importance given to monetary policy and to fiscal policy in both policy and theoretical terms. The former has gained considerably in importance, with the latter being rarely mentioned. Furthermore, the nature of monetary policy has shifted away from any attempt to control some monetary aggregate (prevalent in the first half of the 1980s), and instead monetary policy has focused on the setting of interest rates as the key policy instrument. There has also been a general shift towards the adoption of inflation targets and the use of monetary policy to target inflation. This paper considers the significance of this shift in the nature of monetary policy. This enables us to question the effectiveness of monetary policy, and to explore the role of fiscal policy. We examine these questions from the point of view of the "new consensus" in monetary economics and suggest that it is rather limited in its analysis. When the analysis is broadened out to embrace empirical issues and evidence the clear conclusion emerges that monetary policy is relatively impotent. The role of fiscal policy is also considered, and we argue that fiscal policy (under specified conditions) remains a powerful tool for macroeconomic policy. This is particularly an apt conclusion under current economic conditions.