中国股市反弹有期

【美国《华尔街日报》8月14日】中国股市目前位于19个月来的低点附近。大盘何时才能触底呢？     

Tourism and local economic development. Beyond the conventional view

The relationships between tourism and local economic development extend beyond conventional notions of jobs, diversification and income. The drive for tourism by local authorities and linked agencies, often through the creation of a local action plan, provides a valuable self-appraisal opportunity that may raise the awareness of local economic potentials. Moreover, it also nurtures productive team-building and partnership development within and between local authorities and outside agencies and organisations, and spins off into wider local economic benefits such as image enhancement and the attraction of inward investment. Ultimately, it may boost the local policy machine in ways that enhance and extend the status and strength of the local economy.     

Hayek's Geldtheoretische Untersuchungen: New insights from a 1925–29 typescript

German Ferdinand Tönnies (1855?-?1936) and American Thorstein Veblen (1857?-?1929) are influential figures in the history of the social sciences, whose intellectual relationship has been ignored. However, there are important and illuminating similarities and differences in their critiques of Karl Marx (1818?-?83), as well as in the transition from community to modernity in Western culture and society. This article begins with their account of the nature of the Western community in the Middle Ages and its passage to modernity via the Enlightenment and the Industrial Revolution. It culminates with their critiques of Marx and his and their mutual efforts to construct an ersatz community to replace the one that was lost.     

The Bard of Savagery: Thorstein Veblen and Modern Social Theory

The hypothesis of this paper is that a detailed history of a specific location and period is more effective for isolating the important characteristics of institutions than studies which span multiple millennia across the globe. To illustrate this hypothesis, I examine three Italian city-states in the period between eleventh and sixteenth centuries. This was a time when the "commercial revolution" was underway in these city-states. As a result, there were institutional innovations in settlement patterns, work organization, and self-governing institutions to help provide for mutual defense and for the internalization of gains from long-distance trade. I contrast this case study with the methodology and findings employed by Douglass C. North, John J. Wallis, and Barry R. Weingast (2009) in Violence and Social Orders. Rather than analyze the importance of beliefs and the protection of property rights as in prior work of theirs, the authors here focus on the "Schumpeterian competition" between impersonal organizations as an effective institutional form to control violence. Moreover, the timeframe of their book extends to "all recorded human history." In contrast to North, Wallis, and Weingast's approach, I concentrate on Genoa, Florence, and Venice in an effort to explain more effectively the emergence of the public/private divide and the relationship between politics and economics in modern industrial society. Experimentation in medieval Italy in mediating conflict between newly emerging classes, innovating in public finance to support the military, and focusing on broad civic participation in the political process had a lasting impact on the development of the state as an institution.     

Public Goods in the Field: Katrina Evacuees in Houston

Crises and disasters, whether natural or man-made, are defined by conditions of uncertainty, disorder, and stress. In this research, we explore the extent to which individuals who were evacuated from New Orleans to Houston in the aftermath of Hurricane Katrina cooperated with one another in a public goods game. The study focuses on predominantly African-American evacuees from New Orleans who were relocated to Houston-area shelters in the weeks immediately after Hurricane Katrina. In this study, 352 evacuees participated in small groups across six different Houston evacuation shelters from September 10 through 19, 2005. The experiments reported here are adaptations of “dictator” and “public goods” experiments. We find strong evidence of group cooperation in the Houston-area shelters.     

Employee Perceptions of Job Influence and Organizational Participation Employee Perceptions

An analysis using British matched employer-employee data finds that workers in establishments operating employee participation schemes feel that they have greater influence over their jobs. Schemes involving broader forms of participation, such as representative participation and briefing groups, are shown to be more strongly associated with greater influence than those of a more focused type, such as quality circles and work teams. There is little evidence of a strong positive interaction between these types of schemes.