John Dewey and Henry George: The Socialization of Land as a Prerequisite for a Democratic Public

John Dewey frequently praised Henry George, author of a plan to confiscate land values with a “single tax.” Scholars have failed to account for Dewey's support of George. Some have argued that it should not be taken seriously because it is at odds with their interpretation of Dewey's philosophy. This article demonstrates that Dewey perceived the socialization of land values as an essential step toward creating a true democracy. Furthermore, Dewey's interest in George was not an aberration; it was exemplary of his faith in ideology, theory, and transformative social policy. Despite contentions to the contrary, pragmatists of the early 20^th century never emphasized skepticism, moderation, or rote empiricism. In fact, Dewey embraced the philosophy of Henry George as a general theory of history of society. During the Great Depression, Dewey attacked the piecemeal reformism of the New Deal in favor of the comprehensive vision of Henry George.     

Stock Price Reaction to Non-financial News in European Technology Companies

Drawing upon a series of interviews conducted with leading practitioners and opinion formulators in the social, ethical and environmental audit arena, together with an extensive review of recent literature in the area, this paper offers a critical appraisal of current developments in the newly revitalized social audit movement. We particularly question whether in their enthusiasm for bringing social audit into the mainstream of current business thinking its advocates risk compromising the democratic ideals of the founding fathers of the movement. A particular concern raised is that without real change in corporate governance structures, social audit could become monopolized by consultants and/or corporate management and hence amount to little more than a skilfully controlled public relations exercise.     

The Policy Choices and Reaction Functions of Bank of England MPC Members

The results of an econometric exercise are presented, showing that Monetary Policy Committee (MPC) members appointed from outside the ranks of Bank of England staff (outsiders) react differently to forecasts of inflation and output than those appointed from within the Bank (insiders). All results are reinforced by the well‐established findings that, compared with outsiders, insiders choose higher interest rates, are more likely to vote as a bloc, and feature on the winning side of policy decisions more frequently. On the basis of these results, it is argued that the current MPC framework is biased toward the policy choices of insiders.     

AN AXIOMATIZATION OF QUANTILES ON THE DOMAIN OF DISTRIBUTION FUNCTIONS

In an environment in which the primitive is the space of distribution functions, we characterize the quantile functions by the axioms ordinal covariance, monotonicity with respect to first-order stochastic dominance, and upper semicontinuity. We show how to characterize the VaR in a similar manner.     

Managing radical innovation: an overview of emergent strategy issues

Despite differences in definitions, researchers understand that radical innovation within an organization is very different from incremental innovation , and and that it is critical to the long-term success of firms. Unfortunately, research has also shown that it is often difficult to get support for radical projects in large firms [14], where internal cultures and pressures often push efforts toward more low risk, immediate reward, incremental projects. Interestingly, we know considerably less about the effective management of the product development process in the radical than in an incremental context. The purpose of this study is to explore the process of radical new product development from a strategic perspective, and to outline key observations and challenges that managers face as they move these projects to market. The findings presented here represent the results of a longitudinal (since 1995), multidisciplinary study of radical innovation projects. A multiple case study design was used to explore the similarities and differences in management practices applied to twelve radical innovation projects in ten large, established North American firms. The findings are grouped into three high-level strategic themes. The first theme, market scope, discusses the challenges associated with the pursuit of familiar versus unfamiliar markets for radical innovation. The second theme of competency management identifies and discusses strategic challenges that emerge as firms stretch themselves into new and unfamiliar territory. The final theme relates to the people issues that emerge as both individuals and the project teams themselves try to move radical projects forward in organizations that are not necessarily designed to support such uncertainty.A breadth of subtopics emerge within and across this framework relating to such ideas as risk management, product cannibalization, team composition, and the search for a divisional home. Taken together, our observations reinforce the emerging literature that shows that project teams engaging in radical innovation encounter a much different set of challenges than those typically faced by NPD teams engaged in incremental innovation.     

The role of foreign currency debt in financial crises: 1880–1913 versus 1972–1997

We show that exposure to foreign currency debt does not necessarily increase the risk of having a financial crisis. Some countries do not suffer from financial fragility despite original sin. Before 1913 British offshoots and Scandinavia afflicted with it avoided financial meltdowns. Today many advanced countries have original sin, but few have had crises. In both periods, aggregate balance sheet mismatches are associated with a greater likelihood of a crisis. The evidence suggests that foreign currency debt is dangerous when mis-managed. This is part of the difference between developed countries and emerging markets both of which borrow in foreign currency.     

Integrated Market-Immersion Approach To Teaching New Product Development In Technologically-Oriented Teams

This article presents a market immersion methodology for teaching NPD in technologically-oriented teams. This methodology was developed during the early 1990s at the Lally School of Management and Technology of Rensselaer Polytechnic Institute. Since then, it has been successfully utilized to train in excess of one hundred MBA-level student teams. The NPD course is taught by a 5-member cross-functional team of faculty with backgrounds in marketing, manufacturing operations, and accounting. The course is modeled on Cooper's stage gate process, and the course is designed to provide a combination of classroom and apprenticeship experiences. The 6-credit, year-long course requires students to work in self-directed teams of approximately 5 to 6 members. Each student team chooses its own industry or technology domain in which to concentrate its efforts, and students undertake intensive market and field research in order to assess any existing market opportunities. Once a specific target market and market need have been identified, students are then required to design a product and an organization to meet that need. In specific, students must produce a detailed marketing, manufacturing, operations, advertising, distribution, and financial plan that can bring their product to market. During the process, students create multiple potential product designs, build mock-ups of their products, and field test the mock-ups. At every phase of the course, the teams are continuously immersed in real customer markets. As a result, teams must struggle to incorporate new market information and learning into their project in a consistent and holistic manner. The following article presents the curriculum content and tools, lessons learned, and student reactions to this original pedagogical approach to teaching NPD. Due to the length of the course, particular attention is paid to the teaming issues that naturally arise when teams work together on long-run projects. © 2002 Elsevier Science Inc. All rights reserved.     

Bimodal issues,the median voter model,Legislator's ideology,and abortion

The median voter model is widely used in the public choice literature to explain legislator's behavior. According to the model, if voter preferences are unimodal, a vote-maximizing legislator should mirror the position of the median voter. However, the median voter model has not been tested on bimodal issues. This paper fills this critical void by empirically testing the applicability of the median voter model on an issue which clearly meets the criteria for being bimodal: abortion. Using a variety of attitudinal measures from large sample public opinion polls and constituency demographics, this study finds that Senate voting on the 1994 Freedom of Abortion Access bill was highly related to the senator's personal characteristics—especially ideology—and not to constituent opinion or demographics.     

Explaining intercity home price differences

This paper develops and tests an equilibrium model seeking to explain intercity variation in owner-occupied housing prices. Empirical tests with a reduced form equation using aggregated 1980 data on 94 SMSAs suggest explanation for 84% of this intercity home price variation. Intercity housing demand, based upon homeowner quality of life equilibrium, is successfully represented by the non-monetary income determinant of climate mildness in addition to several monetary income determinants that reflect household residual after-tax real income. Intercity housing supply was found to be influenced by intercity variation in construction costs and limitations upon the available supply of undeveloped urban land.