Political Failure: The First Diagnosis?

1986 sees the 90th anniversary of the publication by the Swedish economist Knut Wicksell's of a path-breaking and prophetic analysis of the failure of the political process. Wicksell's compatriot, the economist Peter Stein, assesses his seminal contribution to the branch of economics that has since become known as 'Public Choice'.     

Making the Processes of Designing Explicit Within an Information Technology Environment

In this paper, technology is described as involving processes whereby resources are utilised to satisfy human needs or to take advantage of opportunities, to develop practical solutions to problems. This study, set within one type of technology context, information technology, investigated how, through a one semester undergraduate university course, elements of technological processes were made explicit to students. While it was acknowledged in the development and implementation of this course that students needed to learn technical skills, technological skills and knowledge, including design, were seen as vital also, to enable students to think about information technology from a perspective that was not confined and limited to `technology as hardware and software'. This paper describes how the course, set within a three year program of study, was aimed at helping students to develop their thinking and their knowledge about design processes in an explicit way. An interpretive research approach was used and data sources included a repertory grid `survey'; student interviews; video recordings of classroom interactions, audio recordings of lectures, observations of classroom interactions made by researchers; and artefacts which included students' journals and portfolios. The development of students' knowledge about design practices is discussed and reflections upon student knowledge development in conjunction with their learning experiences are made. Implications for ensuring explicitness of design practice within information technology contexts are presented, and the need to identify what constitutes design knowledge is argued.     

Elections and the timing of devaluations

This paper presents a rational political budget cycle model where devaluation acts as a tax on consumption due to a cash-in-advance constraint. Competent governments can signal their competency by reducing the rate of devaluation prior to elections. When voters also ignore the degree to which governments are opportunistic, i.e. the extent to which they are willing to distort the economy for electoral gain, an incompetent, opportunistic incumbent can reduce the rate of devaluation in the run-up to an election. The main theoretical implication in either setup, that the rate of devaluation is significantly higher in the months following an election, is consistent with evidence drawn from 26 countries in Latin America.     

Enlargement and the Value of the Euro

The EMU is in the process of expanding its membership. How will the expansion affect the equilibrium or sustainable real value of the euro? What is the explanatory power of the model used to explain the equilibrium value of a synthetic euro? We then demonstrate quantitatively the dynamic effects of enlargement upon the equilibrium value of the euro under different scenarios.     

General Measures to Assist Workers and Firms in Adjusting to Injury from Freer Trade: Issues Raised by Various European Approaches and Some ad hoc Industry Measures Adopted elsewhere

A bstract . Various European measures to alleviate hardships following structural changes. including those resulting from changes in international trade. particularly imports. are summarized. It is noted that sectional political pressures tend to generate industry-specific schemes, especially in the textile, clothing and footwear fields. In some cases, the individual schemes facilitate change. But, in many others, they simply frustrate and hinder inevitable adjustment. Instances of both types are cited. The characteristics of an 'ideal' scheme are itemized along with some of the difficulties in maintaining them. Finally, suggestions are made to de-politicize the tariff-maknig process in the interest of freer trade.     

The purchase of moral positions: an essay on the markets of concerned parenting

The markets directed towards the very youngest are rapidly expanding. This article looks into the mechanisms behind the expansion of this type of parental consumption, assigning children a position similar to what Veblen categorized as vicarious consumption. The assumption put forward is that the modern markets for babies and toddlers rooted not only in the need to stimulate, protect and support the child, or the desire to display cultural and economic capital through vicarious consumption, but also in the need to indicate positions in the moral economy of concerned parenting. The expanding markets of considered consumption are partly based on translation values, empathy and care made into tangible products with symbolic values in the moral economy.