Can financial derivatives inform HRM? Lessons from Moneyball

A comment on Richard Wolfe, Patrick M. Wright and Dennis L. Smart, Radical HRM Innovation and Competitive Advantage: The Moneyball Story. Human Resource Management, Spring 2006, Vol. 45, No. 1, pp. 111–145     

ECONOMIC PROSPECTS AND POLICY

Patrick Foley agrees with Tim Congdon on the unimportance of the current account and with Patrick Minford on the economy's medium-term growth prospects.     

飞利浦“千日维新”

一家百年巨头在中国市场的"浩大实验":孔祥辉如何让飞利浦大中华区与全球战略"求同存异"?2012年2月,飞利浦全球700余高管将云集美国奥兰多市。届时,飞利浦大中华区CEO孔祥辉将代表中国市场,做题为《China Model》(中国模式)的演讲。     

How to De-politicise Local Government

What will be the consequences of the Community Charge? Professor Patrick Minford argues that the poll tax will de-politicise local government.     

reflections post-maastricht

Patrick Minford, one of the 'Liverpool Six', gives a sceptical view of the Maastricht agreements, but concludes that the terms of monetary treaty could have been worse.     

How Fair is the Community Charge or Poll Tax?

How strong is the case against the Poll Tax? Patrick Minford argues that the Community Charge has much to commend it. Opponents underestimate the political maturity of the electorate.     

A Policy for the National Health Service, Part II

In the second half of his article describing his plans for reforming the National Health Service, Professor Patrick Minford analyses some alternative reforms and rebuffs possible criticisms of his own proposals.     

Why the law on insider trading should not be tightened

Patrick Evershed, who manages the Brown Shipley Smaller Companies Fund, attacks the proposed tightening of the law on insider trading in the Criminal Justice Bill, The changes proposed would penalise honest fund managers.     

A Policy for the National Health Service, Part I

How is the NHS to be reformed? Professor Patrick Minford of Liverpool University, in the first of two articles, proposes a scheme for the reform of the National Health Service.     

How Much State?

Professor Alec Nove (right), of the University of Glasgow, takes issue with the three 'capitalist' critics of his articles in Economic Affairs, January-March 1985: Israel Kirzner, Tim Congdon and Patrick Minford.     

Book reviews

THE HUMAN EQUATION: BUILDING PROFITS BY PUTTING PEOPLE FIRST Jeffrey Pfeffer HRM, TECHNICAL WORKERS AND THE MULTINATIONAL CORPORATION Patrick McGovern USING PSYCHOLOGY IN BUSINESS: APRACTICAL GUIDE Mark Parkinson MOTIVATION MANAGEMENT Sheila Ritchie and Peter Martin     

Boekbesprekingen

Book reviewed in this article:
British Towns, A statistical study of their social and economic differences, C. A. Moses and Wolf Scott.
Motion and Time Study, Applications, edited by Ralph M. Barnes
Motion and Time Study, Problems and Projects, by Ralph M. Barnes
An Introduction to Longitudinal Statistical Analysis, Nathan Goldfarb
Methodes mathematiques de la mecanique statistique, A. Blanc-Lapierre, P. Pascal, T. Tortrat
Introduction to Boolean Algebras, Ph. Dwinger
Principles of Medical Statistics, A. Bradford Hill
Lectures on the methodology of clinical research, Max Hamilton
Bibliography of Statistical Literature 1950–1958, M. G. Kendall and A. G. Doig
Statistical Inference for Markov Processes, Patrick Billingsley
Statistiekwoordenboek; Statistical Dictionary. English-Afrikaans; Afrikaans-English. B. de Loor
Zeitschrift für Wahrscheinlichkeitstheorie und verwandte Gebiete, Schriftleitung L. Schmetterer
Time Series Analysis, E. J. Hannan
An introduction to the experimental method, J. Maxwell Little
Statistical Cost Analysis, J. Johnston     

Economists Can Agree on Money and Inflation

The recent appearance of a series of books reveals a growing tendency towards agreement among economists on the analysis of money and inflation. Patrick Minford, Edward Gonner Professor of Applied Economics at the University of Liverpool, examines the new literature.     

The Road Bruges

Will the single market lead to a single economy? Patrick Robertson, the founder of the Bruges Group, claims that the single market and harmonisation is in danger of being used as a subtle means of protecting domestic industries with the ultimate aim of forming a European superstate.     

The New Classical Economics

Classical economics was thought to have been displaced by Keynesianism. Professor Patrick Minford, of the University of Liverpool, outlines a new classical economics that shares the economics of Adam Smith's 'invisible hand' but refines it in modern terms with the insights of rational expectations and demonstrates its importance for policy in the 1980s.     

GOOD BOOKS — AND OTHERS

Book reviewed in this article:
RATIONAL EXPECTATIONS AND THE NEW MACROECONOMICS Patrick Jsdinford and David Peel
THE ROLE AND LIMITS OF GOVERNMENT Samuel Brittan
APPOINTMENT IN JAPAN G. C. Allen
DISORGANIZED CRIME: THE ECONOMICS OF THE VISIBLE HAND Peter Reuters
THE ANATOMY OF POWER J. K. Galbraith     

Book Notes

Book reviewed in this articles:
The Organizational Weapon: A Study of Bolshevik Strategy and Tactics. By Philip Selznick.
Ten Great Economists. By Joseph A. Schumpeter.
Sex and the Law. By Morris Ploscowe.
The Quest for Utopia. By Glenn Negley and J. Max Patrick.     

Organizational structure and innovative activity

A model is analyzed in which agents exert effort to create innovations within an organization. When payments are infeasible, the decision on the implementation of a proposal is shown to be made by simple monotonic decision rules. Organizational structure is then determined by a collection of decision rules. A trade-off arises between the use of information and the incentives created by a rule. If the former dominates it will currently be optimal to install a hierarchy. Otherwise decentralization by granting autonomy to innovators may be better. Requiring unanimous decision-making is optimal if a strong filtering of proposals is necessary.Received: June 2001, Accepted: May 2002, JEL Classification: D23, D71, L22I am grateful to Anke Kessler, Matthias Kräkel, Sabine Lindenthal, Patrick Schmitz, Urs Schweizer and Thomas Tröger as well as two anonymous referees for helpful comments and discussions. I am especially grateful to one anonymous referee who made numerous extremely useful suggestions.     

Book reviews

Book Reviewed in This Article: IMAGES OF ORGANIZATIONS Gareth Morgan TECHNOLOGY AND QUALITY: CHANGE IN THE WORKPLACE Patrick Dawson RESEARCH METHODS FOR MANAGERS John Gill and Phil Johnson BUSINESS ETHICS AND BUSINESS BEHAVIOUR Ken Smith and Phil Johnson (eds) DEVELOPING MANAGERIAL COMPETENCE DEVELOPING CORPORATE COMPETENCE William Tate Aldershot, Gower     

State Expenditure: A Study in Waste

Government Ministers have called for research into the scope for reduction of state spending, both in the short and long term. Professor Patrick Minford of the University of Liverpool, in the first-ever analysis to examine both macro- and micro-economic implications of reform, offers detailed, politically neutral proposals for reducing state spending, and outlines the resulting benefits in employment, output and welfare.