In Art we trust

Culture is an experience good and has strong externalities. Culture has social value, option value, existence value, innovation value, and intergenerational value. None of these are internalised by the market. One should avoid that culture appeals to a small elite. It is thus crucial to invest in cultural education, to bring culture to places where the people are, and to put a greater emphasis on demand-side rather than supply-side cultural subsidies. One should try to avoid that high culture becomes marginalised in a multicultural society with many demands on leisure time. The government should avoid deadweight losses, but should also minimise the potential for rent seeking and lobbying. It is crucial that the government stays at arm's length and leaves artistic judgements to independent experts and interested laymen.     

The Oxford Handbook of Work & Organization – Edited by Stephen Ackroyd,Rosemary Batt,Paul Thompson and Pamela S.

Books reviewed: The Oxford Handbook of Work & Organization edited by Stephen Ackroyd, Rosemary Batt, Paul Thompson and Pamela S. Tolbert. Oxford University Press, Oxford, 2005, xiii + 655 pp., ISBN 0 19 926992 0, £75.00.     

Modelling employment durations of NHL head coaches: turnover and post‐succession performance

Match‐level National Hockey League (NHL) data are used to identify factors likely to trigger the departure of a team's coach, and to measure the short‐term impact on subsequent match results. There is a statistically significant link between individual match results and the job departure hazard for up to 15 games prior to the point of departure. The hazard depends on the team's current standing within its conference relative to a pre‐season forecast, recent performance in the Stanley Cup, the coach's age and previous employment with his present team as a player. After controlling for a mean‐reversion effect, teams that changed their coach within‐season are found to perform worse subsequently than those that did not, but the negative effect is short‐lived. Copyright © 2006 John Wiley & Sons, Ltd.     

Changing images of futures in the 20th century

The 20th century has seen a rise in dystopian images of futures and an apparent decline in imaging capacity. This article considers responses to this ‘imaging dilemma’. They include critique, futures workshops, accessing cultural resources, renegotiating aspects of a worldview and ‘imagining’ a different historical dynamic. It is concluded that there is a substantive basis for informed optimism and empowerment. The keys to each lie in the nature of the human response to what is desired or feared.     

On the Use and Abuse of Thorstein Veblen in Modern American Sociology, II: Daniel Bell and the 'Utopianizing' of Veblen's Contribution and Its Integration by Robert Merton and C. W. Mills

A bstract . The analyses and applications of Thorstein Veblen's social theory by Daniel Bell, Robert Merton , and C. Wright Mills are criticized. Bell's analysis is deficient because it distorts Veblen's proposal for economic reconstruction and because it treats him as a hopelessly Utopian theorist. Merton's use of Veblen's theory of status emulation by linking it with latent and manifest functions is a noteworthy accomplishment; yet Merton's utilization of Veblenian concepts is too sparing and essentially apolitical. Only the treatment of Veblen's theories by Mills is theoretically systematic and sufficiently political in tone. The significant import of Veblen's work for an indigenous critical theory resides in his theories of social value , status emulation, conflict and cultural lag.