Entrepreneurship,Austrian Economics,and the Quarrel Between Philosophy and Poetry

I consider whether entrepreneurship is a distinct category within economic theory. More generally, I consider the links between discussions of entrepreneurship and philosophic debates over the nature of the aesthetic. For instance, Kant's attempt to elevate the category of the aesthetic has much in common with Kirzner's attempt to elevate the concept of the entrepreneur. Shackle's theory of choice refers very directly to the notion of the aesthetic. Theories of the aesthetic and theories of the entrepreneur have common strengths and weaknesses.     

EFFECTS OF PUBLIC EXPENDITURE ON PRODUCTION, INCOMES AND EMPLOYMENT IN FINLAND

This study examines the effects of public expenditure on production activity and private consumption activity. An input-output model with consumption functions connected is used for evaluating the repercussions of public expenditure. Taking both production and consumption repercussions into account, it is concluded that in the year 1965 public expenditure generated 26 percent of domestic incomes and 18 percent of imports. Viewed in terms of the shares of different types of income generated, 72 percent of public expenditure goes to domestic income, and the remaining 28 percent to imports. Forty-five percent of public expenditure returns directly as income to general government. The study also examines the effects of public expenditure by industry and over time (1959 to 1965).     

An Economic Theory of Avant-Garde and Popular Art,or High and Low Culture

Artists face choices between the pecuniary benefits of selling to the market and the nonpecuniary benefits of creating to please their own tastes. We examine how changes in wages, lump-sum income, and capital-labor ratios affect the artist's pursuit of self-satisfaction versus market sales. Using our model of labor supply, we consider the economic forces behind the high/low culture split, why some artistic media offer greater scope for the avant-garde than others, why so many artists dislike the market, and how economic growth and taxation affect the quantity and form of different kinds of art.     

Usefulness of financial ratios in a single industry

This paper reports the findings of a study on the relationship and ratio grouping of a well-published set of financial ratios within the context of a single, homogenous industry. The findings provide some insight into the validity of using single-industry ratio averages as standards to evaluate individual firm performance. Factor analysis was used to study the interrelationship among the ratios and to determine whether these ratios group in the “traditional” category of ratios suggested in the financial statement analysis literature. This analysis was followed by a cluster analysis of the composite ratios derived from the factor analysis to determine whether any consistent and stable statistical grouping of firms developed over time within the industry. These analyses were done for 72 companies for the period 1966–1975 using Dunn and Bradstreet ratios and Compustat data.     

Mill’s radical end of laissez-faire: A review essay of the political economy of progress: John Stuart Mill and modern radicalism

Can John Stuart Mill’s radicalism achieve liberal egalitarian ends? Joseph Persky’s The Political Economy of Progress is a provocative and compelling discussion of Mill’s economic thought. It is also a defense of radical political economy. Providing valuable historical context, Persky traces Mill’s intellectual journey as an outspoken proponent of laissez-faire to a cautious supporter of co-operative socialism. I propose two problems with Persky’s optimistic take on radical social reform. First, demands for substantive equality have led past radicals to endorse exclusionary nationalist and eugenics policies. It pushes some contemporary radicals towards illiberal interventions into intimate social life. Second, the radical critique of capitalism relies on an account of profit that neglects the epistemic function of private-property markets. Once this is acknowledged, capitalism retains some progressive credentials against radical alternatives.     

Three principles for sound water policy

Three economic principles are often neglected when formulating water policy. First, the quantity of water supplied is of paramount importance for policy not the price of water. Water policy should be judged by how much high-quality water is supplied, not by whether that policy meets some distributional objective. Second, the regulated alternatives for water policy have performed poorly. Regulated monopolies, concessions and government ownership have failed to deliver satisfactory results. Third, the real debate is between regulated and unregulated privatisation, not privatisation versus government ownership. The debate over water policy should move in a more free market direction.     

Gender and organisational position: predicting victimisation of cyberbullying behaviour in working life

Abstract

The purpose of this study was to investigate possible predictors of cyberbullying behaviour in working life by examining previously known predictors of face-to-face bullying as well as demographic variables such as gender and formal position in the work organisation. Multiple regression analyses were conducted on a random sample of 3371 respondents. The results show that a poor social climate at work predicted exposure to cyberbullying behaviour. The study also found differences related to gender and organisational position. While low support from managers was related to higher exposure to cyberbullying behaviours for men managers, men non-managers and women non-managers, this relation did not apply to women managers. For women managers alone, low support from colleagues was associated with exposure to cyberbullying behaviours. Further, only for women managers age had no protective effect of exposure to cyberbullying behaviour. These findings imply that men and women have different social experiences in terms of holding power in working life. As women managers are in a minority in working life, other factors may be involved in predicting exposure to cyberbullying behaviour for women managers than for the other three groups. This article contributes to the sparse knowledge on cyberbullying in working life by recognising triggering factors.