PERFORMANCE APPRAISAL AND THE EMERGENCE OF MANAGEMENT*

This article addresses the debate concerning the study of management. Arguing that definitions of management have suffered from conceptual obscurity, it advocates that an understanding of management must address relational, constitutive and political dimensions of its operation. the work of Michel Foucault, particularly the concept of power/knowledge and his ascending analysis of power, offers such an approach. the relevance of Foucault for recasting the study of management is illustrated through an analysis of performance appraisal systems introduced into UK universities.     

BOUNDED RATIONALITY AND THE EMERGENCE OF SIMPLICITY AMIDST COMPLEXITY

Abstract The purpose of this essay is to explore the relationship between the simple and the complex in economics by anchoring our analysis on bounded rationality. Much of the conventional literature focuses on ‘un‐bounded rationality’ of the rationality‐as‐consistency variety. Theorizing of bounded rationality tends to assume that the problem to be solved is independent of the nature of bounded rationality. Following the insights from the works of Herbert Simon and contributions from outside economics, both bounded rationality and the environment are inextricably linked. The boundaries between bounded rationality and its environment can shift. The form in which bounded rationality is found depends on the complexity of the environment. Furthermore, if local interactions between bounded rational agents result in the formation of hierarchies – the complexity of the collective system will change. Whether this will occur depends on the nature of bounded rationality at the individual level.     

ECONOMIC RECESSIONS,BANKING REFORM AND THE FUTURE OF CAPITALISM1

In the 2010 London School of Economics and Political Science Hayek Memorial Lecture, the author argues that flaws in the design of the monetary and financial system were responsible for the global financial crisis and the subsequent recession. The crash reflected the unsustainable nature of the bubble induced by artificial credit expansion created by fractional‐reserve banking under the direction of central banks. Such boom–bust cycles will continue until radical reforms are implemented, including a 100% reserve requirement for demand deposits.     

THE EMERGENCE OF LIBERAL SOCIALISM IN CONTINENTAL EUROPE1

Socialism has repeatedly failed to match the accomplishments of capitalism, and yet it refuses to die. At the beginning of the twenty‐first century, a new type of socialism, ‘liberal socialism’, is growing in Europe. The rise of liberal socialism has been marked by the erosion of two key institutions of capitalism, private property rights and the freedom of exchange. Unlike communism, which used brute force to replace private property rights and free exchange with state ownership and central planning, liberal socialism focuses on redistributing wealth, creating entitlement programmes, supporting labour unions and promoting ‘fair’ trade.     

THE FUTURE OF THE SEABED

Increased commodity prices and improved technology have combined to increase the incentives to exploit natural resources located under the seas. However, an international seabed regime under the auspices of the United Nations presents dangers for free markets, sovereignty and security. Alternative institutional arrangements based on privatisation would produce better outcomes.     

THE FUTURE OF MARKETS

In the 2009 Wincott Lecture, the author argues that in their approach to markets, economic researchers and policy-makers have focused too much on the role of prices as signals to guide resource allocation, at the expense of two possibly more important elements – markets as a process of discovery and markets as a mechanism for the diffusion of political and economic power. Government policies should support the market rather than particular industries, promote competition not concentration, and facilitate entry, not confer advantages on existing firms.     

THE FUTURE OF MARKET CAPITALISM

Although market capitalism is currently the dominant type of modern economic system worldwide, it is neither universal, nor uniform, nor unchallenged. Moreover, it could be intentionally or unintentionally undermined .     

THE EMERGENCE OF EXTENDED METROPOLITAN REGIONS IN INDONESIA: JABOTABEK AND BANDUNG METROPOLITAN AREA

The Jakarta Metropolitan Region (Jabotabek) is advancing to the Bandung Metropolitan Regions (BMA) and vice versa. In fact, these two metropolitan regions are being physically integrated by giant corridors of urban regions, stretching from Serang to Cikampek, and from Bandung to Jakarta, shaping an extended metropolitan region, also called a mega-urban region. There are many factors contributing to this process, i.e. large-scale housing and new town, industrial estate, and toll road development. However, this development has created many environmental problems that should be taken into consideration in formulating development policy for the future in order to avoid environmental collapse.     

MYTH AND TECHNOLOGY IN THE AMERICAN ACCOUNTING PROFESSION

The American accounting profession attempts to provide the public with efficient and effective financial reports; but to succeed, it must satisfy an environment of diverse, often conflicting, institutions. This article critically interprets the profession's development, arguing that it displays an interplay of myth and technology. This interplay generates structural flaws in the profession as well as a bias against reform.     

AFTER THE GREAT RECESSION: THE FUTURE OF CASINO GAMING IN AMERICA AND EUROPE

The economic recession of 2007–09 had dramatic effects on spending on gambling and, therefore, on a number of major gaming companies, resulting in situations where cash flows were increasingly inadequate to service debt obligations. The recession thus interrupted growth trends in various segments of casino industries in America and Europe, which undermined future growth expectations and potential. This analysis examines economic events and other factors that have affected the casino industry in the last few years, and examines their implications for the future of casino and gaming markets in America and Europe.     

七年前的未来

美大胆,不仅仅是在形容眼前这辆XK—R,它的设计师伊恩·卡勒姆（1an Callum）自始至终也在传递这样一种想法,认为人们驾驭捷豹的感觉应该是心底最美的快感,就像是寻找一种失去理智的理想欲望,这种欲望很单纯,无论是5．OL机械增压的低转速大扭矩,还是车体型面滑过空气的凌厉优雅,都在无限逼近理想状态。     

THE MANAGEMENT OF THE PERSONNEL FUNCTION

This article examines the way the personnel role has developed in the United Kingdom, and argues that three main models of personnel management may be discerned. The way these models have been influenced by the recession is discussed and it is suggested that the personnel function, both as a specialized activity and as one aspect of all managerial work has been forced to change, in response to the need for increased competitiveness, to structural and ideological changes, and to industrial reorganization. Looking to the future, the paper anticipates the ‘balkanization’ of the personnel function as new specialisms emerge, and as personnel activity becomes more closely associated with corporate marketing strategies.     

THE FAILURE OF THE POLL TAX AND CLASSICAL LIBERAL POLITICAL ECONOMY: LESSONS FOR THE FUTURE

The failure of the Poll Tax has been claimed to be an indictment of the principles of classical liberal political economy that it was intended to apply to local government finance. This article argues that, on the contrary, the failure of the Poll Tax was entirely predictable from the perspective of classical liberal political economy, and, in particular, public choice economics, because it involved a politically impossible reassignment of the local tax burden, presented local electors with an insurmountable collective action problem and ignored the 'vote motive' underlying the actions of national politicians held accountable for the new tax. Finally, the article proposes some lessons for the future of local government reform from the experience of the Poll Tax.     

THE FUTURE OF THE NEWS IN THE DIGITAL ERA

Technical developments in the field of journalism and broadcasting are changing the shape of both media. Many of these developments are very welcome. However, there is a danger that the quality of journalism may fall and that part of society may disengage from news coverage. This may require a policy response but not necessarily the continued support of a single state-funded public service broadcaster.     

SHIFTING BOUNDARIES IN ECONOMICS: THE INSTITUTIONAL COGNITIVE STRAND AND THE FUTURE OF INSTITUTIONAL ECONOMICS

This paper aims at contributing to the debate on the future of institutional economics and of the field as a whole by starting from the literature that discusses the relationship between Old‐Original Institutional Economics and New Institutional Economics. It suggests that the process of reunifying OIE and NIE (and evolutionary economics) prompted by part of the literature could be improved by the contribution of the Cognitive Institutional Economics. The paper follows a two‐stage pathway: first, it frames the debate on the relationships between NIE and the OIE and it concentrates on a subset of the literature that shows that NIE's recent developments complicate the distinction between NIE and OIE, and it explores the possibility that NIE and OIE may merge so that an amalgam of NIE, OIE and Evolutionary Economics becomes the next economic paradigm. Secondly, the paper argues that a step forward in the direction outlined by the literature has been made by CIE, which is a research stream that developed from cross‐fertilization among NIE, OIE and the Hayekian contributions to the analysis of institutions. In the concluding remarks, the possible emergence of a single institutional paradigm is discussed in the light of the literature about change in economics.