Towards an Epistemology for Radical Accounting: Beyond Objectivism and Relativism

This paper reviews some of the ontological and epistemological issues confronting writers who are currently pursuing a "radical" critique of "mainstream" accounting thought. This burgeoning heterodoxy has a common point of departure, that mainstream accounting relies upon the received wisdom that the veracity of competing theories may be adjudicated through criteria that appeal to the accuracy of their correspondence with the facts of a cognitively accessible external reality. This dualism between subject and object is both implicitly and explicitly challenged by the radical as they draw attention to, in a variety of ways, the projective role of the epistemic subject. But the maintenance of such a critique requires further epistemological self-reflection if incoherence and relativism are to be avoided. To contribute to the development of this heterodoxy, realism is explored as an epistemological haven from which this critique may be pursued and three key implications are explored through reference to the work of radical accountants.     

Tomorrow's traveller—a marketing analysis

Who travels where and why? The right answers are vital to the sellers of travel. Walter Johnson is President of Quadrant Marketing Counsellors, one of the few organizations in the USA specializing in market research into the tourist industry. Here he challenges the traditional demographic methods of analysing travel motives and offers an alternative approach, based on ‘psychological segmentation”.     

General motors corporation,its constituencies and the public interest

This article about the social responsibility of the large corporation is not a paper about stewardship in general. If it were, it would have to focus primarily on the principle of long-term market accountability and the related principle of fidelity to long-term stockholder interests. Most of management's stewardship responsibilities can be subsumed under those two principles.This paper will deal with areas in which those two principles alone are not adequate to define management's stewardship responsibilities. These areas of social accountability occur chiefly where the interests of employees or the general public are at stake — where their human and social purposes sometimes collide with the more limited commercial purposes of the large corporation.Elmer W. Johnson is currently Group Vice President for Operating Staffs and General Counsel at General Motors. He left the private practice of law in Chicago to join General Motors.     

The law of one price and the modelling of disaggregated trade flows

This paper argues that the application of a differentiated good model to disaggregated commodity trade, and in particular to primary commodity trade, is feasible. Price data for as narrowly defined a commodity as wheat are shown to violate the law of one price. An Armington-type model which allows prices of a commodity to vary by supplier is then applied to world wheat trade. Two issues concerning the Armington model are addressed. First, it is shown that the theoretical implications of the model are plausible in the case of a disaggregated commodity. Second, as an example, 1973–1974 wheat trade flows and prices forecast by an Armington-type model are shown to be consistent with actual trade patterns and prices.