Modernist Ideas and Local Reception: The company towns of Piazzola sul Brenta and Borgonyà, 1895–1930

Utopianism, paternalism and the myth of progress were the ideological foundations underpinning company towns. These communities, which sprang up towards the end of the nineteenth century, were dependent on a single company for all or most of the functions and services necessary for town life. This article explores aspects of company town life as variously implemented and received depending on cultural and geographical contexts. In particular, this article examines the emergence of two company towns established during the same period but in two distinct geographical contexts: Piazzola sul Brenta in the Veneto (Italy) and Borgonyà in Catalonia (Spain). While development of these two company towns relied on the same ideals of social and technological progress, the visions of their respective companies, their locations and broader topographical circumstances differed significantly. These new towns are examined through key factors reflecting their owners' and planners' faith in social and technological progress, such as the harnessing of water power, the construction of railways and moral paternalism. These features are analysed by reflecting on the meaning of space in specific contexts. Piazzola sul Brenta and Borgonyà were experimental spaces that their designers and owners used to achieve ephemeral social, political and cultural goals, allowing me to examine both the ways and the spaces in which knowledge and ideas were received, and how different types of knowledge and ideas were transformed and realized.     

Happiness and the market: the ontology of the human being in Thomas Aquinas and modern functionalism

In this paper, we aim at identifying a concept of man that can represent a reference point for those who work or supervise social processes characterized by commercial or economic purposes. Economic, management, and organizational theories and ideas have a large impact on the way we think of ourselves, and we act accordingly. By making a radical departure from the ontological assumptions, this paper proposes a shifting of the current paradigm in terms of how we theorize about man. In order to do this, we analyze the ontological level of the relationship between the idea of happiness and the concept of man from medieval scholastics, and the relationship between the idea of happiness and functionalism in social science. We first prove the formal equivalence between the structures of human choice as described in the qq. 6–21 Prima Secundae of the Summa Theologiae of St. Thomas Aquinas, and the model of problem‐solving behavior as conceptualized in popular management models. Then we show that the Aquinas theory of action could provide a more adequate view of economy and business in the sociocultural and environmental context in which they operate. Finally, we present the implications of this study for management theory, practice, and education.     

Network valuation in financial systems

We introduce a general model for the balance‐sheet consistent valuation of interbank claims within an interconnected financial system. Our model represents an extension of clearing models of interdependent liabilities to account for the presence of uncertainty on banks' external assets. At the same time, it also provides a natural extension of classic structural credit risk models to the case of an interconnected system. We characterize the existence and uniqueness of a valuation that maximizes individual and total equity values for all banks. We apply our model to the assessment of systemic risk and in particular for the case of stress testing. Further, we provide a fixed‐point algorithm to carry out the network valuation and the conditions for its convergence.     

To buy or how much to buy? Partition dependence in purchase-quantity decisions

Marketing Letters - Four studies demonstrate that people are more likely to buy (but not to buy more) when directly asked how much to buy in response to a set of purchase quantities (0, 1, 2...