The recently rising field of Critical Data Studies is still facing fundamental questions. Among these is the enigma of digital subjectivation. Who are the subjects of Big Data? A field where this question is particularly pressing is finance. Since the 1990s traders have been steadily integrated into computerized data assemblages, which calls for an ontology that eliminates the distinction between human sovereign subjects and non-human instrumental objects. The latter subjectivize traders in pre-conscious ways, because human consciousness runs too slow to (...) follow the volatility of the market. In response to this conundrum Social Studies of Finance has drawn on Actor-Network Theory to interpret financial markets as technically constructed networks of human and non-human actors. I argue that in order to develop an explicitly critical data study it might be advantageous to refer to Maurizio Lazzarato’s theory of machinic subjugation instead. Although both accounts describe financial digital subjectivation similarly, Lazzarato has the advantage of coupling his description to a clear critique of and resistance to finance. (shrink)

Abstract: Before now it is believe that it is only company that their activities adversely affect the environment that should be socially responsible. This has change over the years as some country has made it mandatory for business to be socially responsible without which they cannot do business. For insurance company, their activities have to do with rendering of services and as such do not destroy the environment. The main objective of the study was to determine corporate social responsibility accounting (...) and financial performance of insurance companies in Nigeria. The research design adopted for the study is expo facto research design. The population of the study consists of all the 40 companies quoted in the Nigeria Stock Exchange as at December 2016. A sample of 25 insurance companies was selected base on their size from the population of the insurance companies. Data for the study were obtained from annual reports for the period of ten (10) years ranging from 2007 to 2016. Multiple regression analysis was carried out to determine the desire relationship. Findings show a significant relationship between corporate social responsibility accounting and return on capital employed and net profit margin, while a negative relationship with earnings per share. The implication of the findings is that there is evidence of conscious effort of the sampled insurance companies to discharge their social responsibility. The study recommends among other that management should be proactive and ensure that their social responsibility policies are adequately implemented, and ensure that Nigerian companies comply with government laws regarding business regulation in the country. (shrink)

The study ascertained the perception of lecturers and students on the role of social support and psychological first aid in assisting financial fraud victims in South East Nigeria. The study adopted a descriptive survey design. The study was carried out in three Universities in the South East, Nigeria: the University of Nigeria, Nsukka; Nnamdi Azikiwe University, Awka; and Michael Okpara University of Agriculture, Umudike. The population comprises of 135 students and 52 lecturers in Home Economics programme of the three (...) Universities, making a total of 187 respondents. The entire population is used as the sample of the study because of the manageable size. A 32-item Questionnaire was used as instrument for data collection. The instrument is validated by three experts. Data collected is analyzed using mean and standard deviation to answer research questions. Decision on research questions is taken based on real limits of numbers. For the test of significance, the probability (p) value is used in comparison with the alpha value of 0.05, and at 90 degree of freedom (df). The study found that social support and psychological first aid can be used to help financial fraud victims by reaching out to them to help them cope with stress and psychological trauma associated with loss of properties. The study recommended that government at all levels should establish social support and psychological first aid units that will help to cater for the emotional, psychological and other needs of financial fraud victims in order to enable them recover efficiently. (shrink)

Some interesting exceptions notwithstanding, the traditional logic of economic efficiency has long favored hierarchical forms of organization and disfavored democracy in business. What does the balance of arguments look like, however, when values besides efficient revenue production are brought into the picture? The question is not hypothetical: In recent years, an ever increasing number of corporations have developed and adopted socially responsible behaviors, thereby hybridizing aspects of corporate businesses and social organizations. We argue that the joint pursuit of financial (...) and social objectives warrants significant rethinking of organizational democracy’s merits compared both to hierarchy and to non-democratic alternatives to hierarchy. In making this argument, we draw on an extensive literature review to document the relative lack of substantive discussion of organizational democracy since 1960. And we draw lessons from political theory, suggesting that the success of political democracy in integrating diverse values offers some grounds for asserting parallel virtues in the business case. (shrink)

The study aimed to determine the personal financial management practices among selected personnel of the Bureau of the Treasury – Central Office. It used the descriptive method of gathering data. The respondents of the study consisted of 183 personnel from 35 divisions of the Bureau and selected through simple random probability sampling technique. The study shown that most of the respondents aged 26 to 35 years old, female, single, bachelor’s degree holder, rank and file workers, permanent employees, have been (...) in the agency for 5 years and below and with monthly compensation ranging from P15,001 – P30,000. In terms of financial planning, most of the respondents set their short and long-term financial goals. In terms of money management, most of the respondents saved so that they do not need to borrow from others. In terms of income and asset protection, most of the respondents considered uncertainties for their future. And in terms of investments, most of the respondents purchased government securities. The researcher recommended to utilize various social media platforms as an avenue for financial planning, start considering the use of credit management in the acquisition of their needs, understand the need of acquiring non-life insurance and start familiarizing themselves in the concept of the derivatives market. Also, the Bureau of the Treasury should initiate seminars/webinars about how to start writing a financial plan, effective ways in managing finances, the vital role of insurance and estate planning, and possible ways in earning money when investing on securities and derivatives. (shrink)

Financial distress in the hospitality industry affects both businesses and their employees. This study explores the perspectives of employees on financial distress within the hospitality sector in Imo State, Nigeria. The study addressed three research questions. Survey research design was adopted for the study. The study was carried out in Imo State Nigeria. 361 financial officers in the hotels within the hospitality industry in Owerri Imo State were the target population and random sampling was used to select (...) 181 hotels whose financial officers served as the study respondents. Structured questionnaire was specifically designed for this study. The data was analyzed using mean, and standard deviation to provide an overview of employee perspectives on financial distress. The results indicate that a wide range of variables, such as economic downturns, irregular revenue, high cost of living, and management concerns within businesses, are responsible for financial hardship among employees in the hotel industry in Imo State. Employees also mentioned that worry, anxiety, and job instability were direct effects of their financial hardship. Based on the results, a number of suggestions are made to lessen financial hardship. These include putting in place financial literacy initiatives for staff members, enhancing management-staff communication and transparency, supporting ethical labor practices, and encouraging social support systems within the workplace. (shrink)

This special issue introduces the study of financial technologies and finance to the field of philosophy of technology, bringing together two different fields that have not traditionally been in dialogue. The included articles are: Digital Art as ‘Monetised Graphics’: Enforcing Intellectual Property on the Blockchain, by Martin Zeilinger; Fundamentals of Algorithmic Markets: Liquidity, Contingency, and the Incomputability of Exchange, by Laura Lotti; ‘Crises of Modernity’ Discourses and the Rise of Financial Technologies in a Contested Mechanized World, by Marinus (...) Ossewaarde; Two Technical Images: Blockchain and High-Frequency Trading, by Diego Viana; and The Blockchain as a Narrative Technology: Investigating the Social Ontology and Normative Configurations of Cryptocurrencies, by Wessel Reijers and Mark Coeckelbergh. (shrink)

To what extent are questions of sovereign debt a matter for political rather than scientific or moral adjudication? We answer that question by defending three claims. We argue that (i) moral and technocratic takes on sovereign debt tend to be ideological in a pejorative sense of the term, and that therefore (ii) sovereign debt should be politicised all the way down. We then show that this sort of politicisation need not boil down to the crude Realpolitik of debtor-creditor power relations—a (...) conclusion that would leave no room for normative theory, among other problems. Rather, we argue that (iii) in a democratic context, a realist approach to politics centred on what Bernard Williams calls ‘The Basic Legitimation Demand’ affords a deliberative approach to the normative evaluation of public debt policy options. (shrink)

An extended analysis compared to observations shows that modern “globalised” world civilisation has passed through the invisible “complexity threshold”, after which usual “spontaneous”, empirically driven kind of development (“invisible hand” etc.) cannot continue any more without major destructive tendencies. A much deeper, non-simplified understanding of real interaction complexity is necessary in order to cope with such globalised world development problems. Here we introduce the universal definition, fundamental origin, and dynamic equations for a major related quantity of (systemic) risk characterising real (...) complex system development tendencies at any level of dynamics. Practically important conclusions are derived, opening further detailed applications in economy, finance and development practice. (shrink)

Our planet contains 194 independent states and much more nations. They share membership of the United Nations and in consequence they subscribed the Universal Declaration of Rights. These are rooted in the modern universal conception of states and human rights formulated by philosophers of the Enlighten Age like Locke, Kant., Montesquieu, Voltaire and Rousseau. Concepts like democracy are mirrored to the organization of the political life as it was developed in North America and Europe at the end of the 18th (...) and the 19th century. Universality was deeply rooted in the Western intellectual, moral and religious tradition of that part of the world. Even globalization of the economic and social life is governed by the same Western standards and worldwide consumed basic goods like prime matter,. food and energy is expressed in terms of Western currency like dollar, pound sterling or euro. Despite this economic globalization there were two contradictory political evolution to discern: At the one hand more than 70 new states where created and on the other hand 28 European states started to integrate to a political European Union. The latter trend was based on a deep economic integration and since the creation of the euro also a financial integration. Basic idea was the creation of a free economic market as bases for a political unified Europe. Euro criticism is not only identified with conservatism, nationalism, narrow mind and even racism, euro criticism is deprived from any intellectual significance. However other trends put some shadow on the European project. First the Soviet experience around Marxism, Leninism and Stalinism unified more different nations than the European Union but ended in a complete political and economic chaos. Secondly the financial euro crisis involves only the tacit undermining of the national political independence of the member states, but does not make room for a deep analysis what the fundamentals are of this crisis such as lack of confidence of the citizen in the created unified political and financial market and its main instruments like banks that we consider as the fundamental boundary conditions of the worldwide globalization of goods, power and all aspects of human life. Furthermore we claim that this market in al its aspects is the worst answer to the inconvenient yet unavoidable truth that Western way of life of consumption includes a ecological footprint that exceeds since many years the sustainability of our planet. -/- . (shrink)

Social entrepreneurship is usually understood as an economic activity which focuses at social values, goals, and investments that generates surpluses for social entrepreneurs as individuals, groups, and startups who are working for the benefit of communities, instead of strictly focusing mainly at the financial profit, economic values, and the benefit generated for shareholders or owners. Social entrepreneurship combines the production of goods, services, and knowledge in order to achieve both social and economic goals and allow for solidarity building. From (...) a broader perspective, entities that are focused on social entrepreneurship are identified as parts of the social and solidarity economy. These are, for example, social enterprises, cooperatives, mutual organizations, self-help groups, charities, unions, fair trade companies, community enterprises, and time banks. Social innovation is a key element of social entrepreneurship. Social innovation is usually understood as new strategies, concepts, products, services, and organizational forms that allow for the satisfaction of needs. Such innovations are created in particular in the contact areas of various sectors of the social system. For example, these are spaces between the public sector, the private sector, and civil society. These innovations not only allow the solving of problems but also extend possibilities for public action. (shrink)

In a context of imperfect risk protection, households may protect against the impact of a health shock by employing various financial and non-financial coping mechanisms, such as foregoing or reducing needed medical care, labor substitution, consumption reduction, borrowing money, dissaving, and selling assets. However, leveraging certain coping mechanisms may reduce future productivity, potentially trapping households in chronic or persistent poverty. Resources and risk are not necessarily shared equitably within a household; the ability and willingness of the household to (...) leverage coping mechanisms, or the choice of coping mechanism may depend on the social protection policy context, household socioeconomic status, and type of intrahousehold risk sharing. Vietnam has been making policy changes aimed towards achieving Universal Health Coverage for the past several decades, culminating in a 2015 change mandating universal insurance coverage. This can potentially influence both providers in making decisions around service delivery and households around financing care. This research aims to contribute to the literature exploring the relationships among direct and indirect health care costs, potentially maladaptive coping mechanisms, and household living standards, within the particular health financing and social protection environment in Vietnam. (shrink)

Michelle’s thesis explores the extent to which a researcher could contribute to change by engaging leaders in conversations that might intensify commitment to or the direction of their actions around socio-environmental decline in Bermuda as a country historically organised in the tradition of an entrepreneurial for-profit enterprise. The framing of a space to reflect on highlighted the significance of time that led to the bricolage design of a heuristic device called a moon gate. Time, the keystone of the moon gate, (...) created a prism lighting up the twists and turns of kaleidoscopic images of the chaos of the markets and the creative diversity of human and nonhuman participants. She undertook a philosophical approach with her study of the contested space of time around sensitivity to maintaining a fulcrum point based on the wellbeing of people and planet. (shrink)

Academia is a competitive environment. Early Career Researchers (ECRs) are limited in experience and resources and especially need achievements to secure and expand their careers. To help with these issues, this book offers a new approach for conducting research using the combination of mindsponge innovative thinking and Bayesian analytics. This is not just another analytics book. 1. A new perspective on psychological processes: Mindsponge is a novel approach for examining the human mind’s information processing mechanism. This conceptual framework is used (...) to construct models in studies. The framework is highly flexible and widely applicable for many different types of information processes. The mindsponge approach can help researchers discover interesting ideas or even formulate their very own theories when investigating psychosocial phenomena. This approach brings a fresh wind to the current landscape of social sciences and humanities (SSH). 2. Easy-to-follow analysis protocol: The Bayesian Mindsponge Framework (BMF analytics) is useful in terms of computing and visualizing power but also easy to learn and apply. Contrary to being intimidating, the Bayesian analytics section of this book is presented in a reader-friendly manner with a detailed yet clear step-by-step procedure. Examples are from published BMF articles, allowing readers to immediately practice the method and quickly create their own applications. With educational purposes in mind, the book is very suitable for ECRs who are looking to innovate their research methods. 3. Advocating for low-cost, high-quality research: Doing science can be very costly. Mindsponge innovative thinking and BMF analytics help produce impactful studies using openly available data on online repositories. This is based on the authors’ previous works and experiences. The book presents examples of employing the open R package bayesvl on secondary data from different sources. With less financial constraints, researchers can have more freedom of thought to pursue their curiosity and creativity. ECRs in low- and middle-income countries may find this aspect crucial in their careers. 4. Support and collaboration: The authors share their insights from experiences in the academic publishing system to help readers get through the processes of manuscript writing and peer-reviewing more easily. The authors are also ready to support other researchers with further inquiries and collaboration opportunities at the following website, mindsponge(dot)info. This book is for: a) ECRs whose only abundant resources are their innovation capacity and strength of will; b) Researchers in SSH who want to explore a novel approach to thinking and study conducting; c) Low- and middle-income countries’ researchers looking for a cost-effective research protocol; and, d) Innovative thinkers who want to turn their interesting thoughts into good publications. (shrink)

Often financially excluded by the traditional banking system, small and medium-sized enterprises (SMEs) in many developing countries have found in mobile money services (MMS) a sustainable alternative. Despite its potential in propelling inclusive growth, the use and adoption of mobile money (MM) by SMEs has generally been low in developing countries, and one of the reasons has been limited data that supported its impact on financial performance. As a result, there was a need to investigate the impact of the (...) mobile money payment and receipt services on the financial performance of the SMEs in Cameroon. This paper implemented a mixed research paradigm with data collected through the administration of a survey questionnaire and from one-on-one in-depth interviews. A sample of 285 SMEs responded to the survey, while 12 owners/managing directors were purposively selected to participate in the personal interviews. Version 25 of the Statistical Package for the Social Sciences (SPSS) software was used to analyse the quantitative data, while the qualitative data was analysed along themes. The results were, after that, triangulated for credibility reasons. The concluding findings indicated that the mobile money payment and receipt services contributed of the order of 73% of the total variance in the turnover of the SMEs in Douala after they had begun to use the technology. By confirming the positive relationship between the use of mobile money services and the financial performance of businesses, it is hoped that all the relevant stakeholders will see this as a possible solution to the financial challenges that SMEs face in developing economies. (shrink)

The results revealed that students who remained in China experienced challenges which included anxiety, closure of campuses, lockdown, their parents’ concern regarding health issues, and not being able to meet with friends. On the other hand, students who had left China during the pandemic were confined to their home countries. This group of students experienced more severe problems than the students who remained in China. Since the transition to home countries was “unplanned,” they were not ready to readjust to their (...) native culture and were vulnerable to severe reverse culture shock. Upon returning to their home countries, international students faced a number of challenges, including readjustment to their home countries and changes in their lives in host and home countries. In addition, they lost social and academic resources, such as the disruption of study environment, losing important group memberships, financial constraints, visa expiry, graduation delay, and academic suspension. (shrink)

While this article sets out to advance our knowledge about the characteristics of Nigerian cybercriminals (Yahoo-Boys), it is also the first study to explore the narratives of the Economic and Financial Crimes Commission (EFCC) officers concerning them. It appraises symbolic interactionist insights to consider the ways in which contextual factors and worldview may help to illuminate officers’ narratives of cybercriminals and the interpretations and implications of such accounts. Semi-structured interviews of forty frontline EFCC officers formed the empirical basis of (...) this study and were subjected to a directed approach of qualitative content analysis. While prior studies, for example, indicated that only a group of cybercriminals deploy spiritual and magical powers to defraud victims (i.e. modus operandi), our data analysis extended this classification into more refined levels involving multiple features. In particular, analysis bifurcates cybercriminals and their operations based on three factors: [a] educational-attainment, [b] modus-operandi, and [c] networks-collaborators. Results also suggest that these cybercriminals and their operations are embedded in “masculinity-and-material-wealth”. These contributions thus have implications for a range of generally accepted viewpoints about these cybercriminals previously taken-for-granted. Since these criminals have victims all over the world, insights from our study may help various local and international agencies [a] to understand the actions/features of these two groups of cybercriminals better and develop more effective response strategies. [b] to appreciate the vulnerabilities of their victims better and develop more adequate support schemes. We also consider the limitations of social control agents’ narratives on criminals. (shrink)

Purpose: Illicit financial flows are targeted by the United Nations’ (UN) Sustainable Development Goals (SDGs). However, these illicit flows are not entirely understood. Furthermore, they can benefit from economic norms, laws, and regulations that lack mechanisms to detect and penalize them. This paper investigates whether a recent test, the embezzler test, can be used to identify regulatory architectures that facilitate illicit financial flows and related financial crimes. -/- Design/methodology/approach: To develop a more advanced version of the embezzler (...) test in terms of definitions and practical implementation methodology. -/- Findings: In this test, the definition of embezzlement can be understood to be the occurrence of illicit financial flows crossing the boundaries of organizations and/or countries. This is a multi-stage test, which intentionally simulates illicit financial flows to observe how well equipped is the regulatory architecture to deal with other financial offences that are related with these flows, such as theft, money laundering, fraud, corruption, market manipulation, and tax evasion. -/- Originality: This is the first explicit test that has been presented to identify norms, laws, and regulations that facilitate illicit financial flows and related financial crimes. -/- Research implications: Future research can employ the version of this test to stress test a large range of economic norms, laws, and regulations. -/- Practical/Social implications: This test’s new version can assist achieve the UN SDGs’ illicit financial flow reduction target. Furthermore, it can be used to study both existing and proposed norms, laws, and regulation. (shrink)

Wellbeing is classically considered a bi-product or externality of economic activity, which can either be positively or negatively influenced. This conventional view is returning to the fore in the face of renewed criticisms of ESG reporting standards as leading business astray from its core financial purpose. However, such reactivism overlooks the fact that wellbeing is the functional and overarching aim of human activity, which Aristotle defines as self-actualization. As such, any sound economic system must, in a fundamental way, enhance (...) individual and collective wellbeing. This essay calls for reinforcing social purpose commitments through a capitalism rooted in moral self-awareness in which the common good displaces profit as the sole function of business. According to this picture, profit maintains its proper place as the means of economic transactions, allowing social purpose to take up its proper place as business' central aim. (shrink)

By using multilevel mediation involving 322,589 posts made by 384 musicians over 104 weeks, we simultaneously analyze the short-term and long-term effects of charity-related signaling on sales, with social media engagement as the mediator. Specifically, we compare the effects of charity-related signals with those of two other types of signals: mission-related (i.e., promoting music and commercial products) and non-mission-related (i.e., other posts that do not relate to the other two categories). In the short term, the indirect effect of using charity (...) signaling on sales (through engagement) is positive, though smaller than the effects of mission-related and non-mission related signals. However, in the long term, the indirect effect of regularly using charity-related signaling on sales (through long-term engagement) is greater than for the effects involving the other types of signals. We derive from these findings three main implications for the business ethics literature. First, in the long term, the mutual economic benefits of charity signaling should encourage both entities (i.e., musicians and charities) to go beyond short-term, transactional philanthropy. Second, because it is profitable for musicians to partner with charities in the long-term, our research argues that charities have extensive bargaining power in such co-branding decisions. Third, our research highlights the importance of studying the longitudinal aspects of co-branding decisions involving non-profit organizations; the financial outlook of such decisions could greatly vary depending on the timeframe (i.e., short vs. long). (shrink)

During the current financial crisis, the need for an alternative to a laissez-faire ethics of capitalism (the Milton Friedman view) becomes clear. I argue that we need an order ethics which employs economics as a key theoretical resource and which focuses on institutions for implementing moral norms. -/- I will point to some aspects of order ethics which highlight the importance of rules, e.g. global rules for the financial markets. In this regard, order ethics (“Ordnungsethik”) is the complement (...) of the German conception of “Ordnungspolitik” which also stresses the importance of a regulatory framework. This framework is needed not to tame the market, but to make it more profitable in the long run. -/- The conception of order ethics relies heavily on contractarianism, especially on James Buchanan’s work. Unlike many other conceptions of ethics, it does not start with an aim to achieve, but rather with an account of what the social world – in which ethical norms have to be implemented – is like. Our social world is different from the pre-modern one. Pre-modern societies played zero-sum games in which people could only gain significantly at the expense of others. And the types of ethics that we are still used to today have been developed within these pre-modern societies. -/- Modern societies, by contrast, can be characterised – by economists and other social theorists alike – as societies with continuous growth. This growth has only been made possible by the modern competitive market economy which enables everyone to pursue his own interests within a carefully devised institutional system. In this system, positive sum games are played, which makes it in principle possible to improve the position of every individual at the same time. Most kinds of ethics, however, resulting from the conditions of pre-modern societies, ignore the possibility of win-win-situations and instead require us to be moderate, to share, to sacrifice, as this would have been functional in zero-sum games. These conceptions distinguish – in more or less strict ways – between self-interest and altruistic motivation. Self-interest, more often than not, is ultimately seen as something evil. -/- Such an ethics cannot be functional in modern societies. Ethical concepts lag behind. Within zero-sum games, it was necessary to call for temperance, for moderate profits, or for a condemnation of lending money at interest. Within positive-sum games, however, the morally desired result of a social process cannot be brought about by changes in motivation, by switching from ‘egoistic’ to ‘altruistic’ motivation. The second theoretical element introduced by order ethics is the distinction between actions and rules, which was already mentioned. Traditional ethics concerns actions: It calls directly for changes in behaviour. This is a consequence of pre-modern conditions as reconstructed before: People in the pre-modern world were only able to control their actions, not so much however the conditions of their actions. In particular, rules like laws, constitutions, social structures, the market order, and also ethical norms have remained stable for centuries. In modern societies, this situation has changed entirely. The rules governing our actions have increasingly come under our control. -/- In this situation, ethics has to focus on rules. Morality must be incorporated in incentive-compatible rules. Direct calls for changes in behaviour without changes in the rules lead only to an erosion of compliance with moral norms. Individuals that continue to behave ‘morally’ will be singled out, because the incentives have not been changed. Moral norms which are to be justified cannot require people to abstain from pursuing their own advantage. People abstain from taking ‘immoral’ advantages only if adherence to ethical norms yields greater benefits over the planned sequence of actions than defection in the single case. Thus ‘abstaining’ is not abstaining in the long run, it is rather an investment in expectations of long-term benefits. By adhering to ethical norms, I become a reliable partner for interactions. The norms do indeed constrain my actions, but they simultaneously expand my options in interactions. And people consent to rules only if these rules hold greater advantages for them, at least in the long run. -/- In general, ethics cannot require people to abandon their individual calculation of advantages. However, it may suggest improving one’s calculation, by calculating in the long run rather than in the short run, and by taking into account the interests of our fellows, as we depend on their acceptance for reaching an optimal level of well-being, especially in a globalized world full of interdependence. -/- The problem of implementation can now be placed at the beginning of a conception of order ethics, justified with reference to the conditions of modern societies I have sketched. Under the conditions of pre-modern societies, an ethics of temperance had evolved that posed simultaneously the problems of implementation and justification. The implementation of well-justified norms or standards could then be regarded as unproblematic, because the social structures allowed for a direct face-to-face enforcement of norms. Pre-modern societies not only favored an ethics of temperance, they also had the instrument of face-to-face-sanctions within their smaller and non-anonymous communities. This instrument is no longer functional in modern anonymous societies, and so we have to face up to the problem of implementation right at the start of our ethical conception. Simultaneously, an order ethics relies on the implementation of sanctions for enforcing incentive-compatible rules. In modern societies, rules and institutions, to a large extent, must fulfil the tasks that were, in pre-modern times, fulfilled by moral norms, which in turn were sanctioned by face-to-face sanctions. Norm implementation in modern societies thus works by setting adequate incentives in order to prevent the erosion of moral norms, which would happen if ‘moral’ actors were systematically threatened with exploitation by other, less ‘moral’ actors. -/- This conception of order ethics is then elaborated further in the area of business ethics. -/- . (shrink)

In “Regulating social media as a public good: Limiting epistemic segregation” (2022), Toby Handfield tackles a well-known problematic aspect of widespread social media use: the formation of ideologically monotone and insulated social networks. Handfield argues that we can take some cues from economics to reduce the extent to which echo chambers grow up around individual users. Specifically, he argues that tax incentives to encourage network heterophily may be levied at any of three different groups: individual social media users, social media (...) sites/companies, or advertisers who use social media to promote their products and material. In this response, I examine the plausibility of using such incentives on each of the these groups. I argue, first, that using tax incentives on either (1) social media companies or (2) advertisers would be ineffective as these incentives could not feasibly be made strong enough to override the enormous financial gain of the standard social media algorithms. Next, I argue that levying the incentives/penalties on individual users would be a hazard, due to the risk of what is called the epistemic “backfire effect”. Finally, I argue that the problem lies in relying on incentives and disincentives—rather than direct regulation—to increase network heterophily. (shrink)

The paper is devoted to the study of determinants determined the level of financial security of economic systems. It is shown that the financial security of an economic system implies the achievement of a level of financial stability that will contribute to simultaneously maintaining financial equilibrium and ensuring targeted growth in line with the development strategy. The level of financial security of rail transport in Ukraine was analyzed and it was determined that the decline in (...) its security was the result of a complex interaction of external and internal factors, the main of which were tight government regulation, shifting the financial burden of social responsibilities to Ukrzaliznytsya, PJSC, lack of competition in the transportation of the main nomenclature of cargo and the unsatisfactory state of non-current assets. Based on the Argenti’s method, it is shown that the consequence of the inefficient financial management of Ukrzaliznytsia, PJSC are the reduction of its insolvency. Three main determinants of the financial security of rail enterprises were identified: a reduction in traffic volumes, an unstable capital structure and the impossibility of timely repayment of current liabilities. An additive model for assessing the impact of selected determinants on the level of financial security of Ukrzaliznytsia, PJSC is proposed. The analysis of the model parameters showed that the greatest impact has the index of industrial production, which is due to the predominant formation of its own financial resources of rail transport due to income from freight traffic. A complex of measures designed to improve the financial condition of rail enterprises was proposed. It is substantiated that in order to equalize existing threats, it is necessary to take political decisions aimed at improving the financial condition of Ukrzaliznytsia, PJSC by reducing the intensity of leaching of its financial resources, as well as implementing an anti-crisis financial strategy aimed at optimizing the capital structure and financial rehabilitation of rail enterprises. (shrink)

Rather than re-examine the question of whether doing good generally helps a company to do well, this study draws on contingency theory to empirically examine when doing good helps a company do as well as possible. Using panel data, we examine the effects of industry life cycle, munificence, and instability on the relationship between corporate social responsibility (CSR) and corporate financial performance (CFP). Our findings indicate that life cycle has a significant impact on the CSR-CFP relationship, as does industry (...) instability. These findings suggest that CSR helps the bottom line considerably – if it is applied at the right time. (shrink)

Although immigrants have been found to be particularly likely to engage in entrepreneurial activities in their host countries, very often their ability to do so is restricted by a range of challenges, including having limited access to finances. As a consequence, proactive immigrant entrepreneurs establish informal financial associations, which are known as stokvels in South Africa, in order to compensate for the general lack of available capital for their business ventures. Accordingly, this paper has sought to ascertain the role, (...) which stokvels play in the startups and the growth of Cameroonian-owned businesses, and also the strategies which they employ. A mixed-methods approach was adopted to conduct the study and purposive sampling was employed to obtain a research sample of 123 participants to respond to the survey questionnaire and 10 to take part in one-on-one in-depth interviews. The data was analysed through the use of the Statistical Package for Social Sciences (SPSS) software, which generated findings in the form of descriptive statistics. The results suggest that most emerging immigrant entrepreneurs struggle to obtain sufficient startup capital. It also emerged from the findings that stokvels played an equally significant role in providing the capital, which was necessary for the growth of their businesses. On the basis of the assumption that widening access to finance would improve both the startups and the growth of immigrant-owned businesses, the authors of this paper advocate for inclusive policy initiatives, which consider the unique characteristics of the immigrant entrepreneur. In addition, it is hoped that this paper will make a valid contribution to the discourse concerning inclusive finance and be of interest to policymakers and academics. (shrink)

Abstract: Leadership quality is treated as both a specialized role and a social influence process and today’s business environment requires executives who are able to operate on a global scale. Talent development includes mobility between business units domestically and abroad. It is essential that job shifts and production structure be fundamentally aligned because developing large pool of talent could lead to oversupply and the developed team would simply have no place to go. The study was focused to establish effects of (...) talent development practices on leadership quality of financial sector regulatory institutions in Kenya through explanatory and cross-sectional survey design. A total population of 636 employees in the six financial sector regulatory institutions in Kenya were targeted. Stratified random sampling was embraced thus deriving 127 employees as the sample population. Both primary and secondary data was used where Primary data was collected using questionnaires which was analysed used SPSS software and presented as percentages, frequencies, means, charts and standard deviations. The study established that employee assessment, employee sourcing, leadership grooming and employee development programmes affect leadership quality. Human resource department needs to step up and play a critical role on employees’ talent development. There is need for management to have employee assessment on regular basis as this will help in identifying the skills they have and those they require, hence improving leadership quality. Over and above, the management need to have clear policies on employee assessment, sourcing, development and leadership grooming with an aim of improving. (shrink)

The technological revolution and appropriation of internet tools began to reshape the material basis of society and the urban space in collaborative, grassroots, leaderless, and participatory actions. The protest squares’ representation on Television screens and mainstream media has been broad. Various health, governmental, societal, and urban challenges have marked the advent of the Covid-19 virus. Inequalities have become more salient as poor people and minorities are more affected by the virus. Social distancing makes the typical forms of protest impossible to (...) carry out. Under social distancing, some state-led policies took advantage of social media to focus on the Covid-19 pandemic to silence social and political activities, censor criticism, and control the press. However, during the pandemic era, the movements for social justice have been particularly active, focusing on defending workers’ rights, mutual aid and solidarity, monitoring policymakers, and popular education. These progressive movements combined concrete practices and experiences to confront the reactionary, capitalist, and governmental actors that sought to shape and envision the world. Through different case studies of protest movements during the pandemic in Europe, the UK, and Asia, this paper argues that at the time of rising racial, social, and economic inequalities, the social activities adapted to the circumstances determined by the social distancing and the impossibility of people gathering in physical spaces. Subsequently, the people in different countries had various individual and collective responses to the support of health workers, systemic inequalities, loss of jobs, and other societal and financial challenges imposed by the governments. It means that, rather than disappearing, the social movements have adapted to the unexpected situations during the pandemic outbreak. The pandemic broke the new digital global wave of protests in this sense. (shrink)

The COVID-19 pandemic worsens the crises generated by neoliberal capitalism. The “economic resiliency” of the Philippines is not a strength for the struggling masses rather a “financial strength” for the exporter and importer of surplus capital, e.g. the creditors and investors, favoring the few against the many. The lens and jargon of multilateral development banks bear bourgeois morality and myth describing the Philippine economy and the Filipinos “resilient” amid perennial crises brought by neoliberal ideology. Emphasizing “economic infrastructure” over the (...) “social infrastructure”, e.g. public healthcare, the Philippines attracts the surplus capital of foreign investors but not the confidence of the people as bureaucrat capitalists gain from contracts with the government. When COVID-19 strikes, the Filipinos remind themselves of the need for “social infrastructure” in public health. The COVID-19 pandemic is a reminder since the people already recognize the government’s lack of capacity in dealing with regular maladies like dengue. Though many are organizing themselves in addressing the negligence of “social infrastructure” by the government, a lot more clamor individually through social media for quality public service during the pre-pandemic period, amid the COVID-19, and most likely in the post-pandemic time. It is in this context that this practice note asks: how do Filipinos respond to the government’s response and how should they respond amid and during the post-COVID period? The note benchmarks from the theoretical foundations of social movements as it learns from people providing praxis of mobilizations in different countries for the Filipinos to adopt in their activism and to adapt their strategies when dealing with the “new normal”. (shrink)

Despite the many advantages that mobile money o ers to Small and Medium-sized Enterprises (SMEs) relative to traditional banking services, the majority of stakeholders of this platform have not yet maximised its use owing to several concerns not limited to trust, awareness, and even cost. To examine the factors justifying the adoption and usage of Mobile Money Services (MMS) among SMEs, the types of Mobile Money Services used by these SMEs, and the interdependences between these variables, this study adopted an (...) exploratory approach. The researchers elected to use a mixed-method approach, which necessitated the usage of a survey questionnaire and structured in-depth interviews. Representatives of 12 SMEs were interviewed during the qualitative phase to corroborate the 285 SMEs surveyed in the quantitative part of the study. Descriptive and inferential statistics were adopted to analyse the quantitative data using the Statistical Packages for Social Sciences version 26 (SPSS version 26). The researchers described the qualitative data according to themes, and the findings were combined after that. While no single factor was accountable, it emerged that accessibility, safety, and convenience were the main factors that entice SMEs in Douala, Cameroon to embrace mobile money services in the effort to receive money from clientele, pay suppliers, and purchase airtime for additional transactions (most preferred mobile money services). Furthermore, it was found that there was a statistically significant association between most of the motivating factors cited and the most preferred mobile money services used by SMEs in Douala. These findings validate the role that mobile money plays in promoting the inclusive finance agenda for SMEs, mainly in the context of emerging economies where the majority of people and businesses do not have access to banking services and therefore may be of interest to policymakers and different stakeholders. Furthermore, an identification of the types of mobile money services businesspersons mostly use in Douala, a business hub, may help to develop businesses by directing the stakeholders to agenda items of interest in the context of Cameroon. (shrink)

It is well established that a number of factors contribute disproportionately to the failure of Micro and Small Enterprises (MSEs) in most economies. This paper examined the contribution of managerial and financial factors to the failure of MSEs in the context of Angola. The paper adopted a positivist theoretical perspective, by utilizing the questionnaire as the primary data collection instrument within the quantitative research technique. Data was collectedfrom108 small business owners and managers with business failure experiences, approached through snowballing (...) sampling technique. The data was analysed with the aid of the Statistical Package for the Social Sciences (SPSS) program. The results ascertain that, insufficient knowledge in the domain of business systems, insufficient skills in the domain of financial accounting and negligence to plan and control business resources, by the small business owners and managers were among the factors that contributed to small enterprise failure in Angola. This reports the lack of institutions actively promoting entrepreneurship for knowledge and skills development and the absence of successful entrepreneurial role models, business mentors or coaches for entrepreneurial capacity building. (shrink)

After the financial crisis of 2008, many economists expressed dissatisfaction with the state of macroeconomics. They criticised deficiencies in the dominant dynamic stochastic general equilibrium modelling approach and conceptions of good macroeconomic research behind that dominance. This paper argues that there is a deeper problem in macroeconomics, which remains unaddressed. I connect existing literature critical of the institutions of macroeconomics and of economics in general to the institutional preconditions of effective criticism outlined by the philosopher Helen Longino. I find (...) that as an epistemic community, macroeconomics does not function in a way that adequately supports critical evaluation of established beliefs, norms and practices. This failure may partly explain why many views on macroeconomic modelling, the tenability of which economists questioned after the crisis, were able to persist for so long. My analysis gives additional support to several recent proposals for institutional reforms in economics. (shrink)

The discourse of ‘the end of ideology’ put forward by Bell in 1960 was centred on the notion that an ideological consensus had been reached, especially in developed countries, and that ideologies were no longer necessary given that economic growth had replaced political growth as the predominant subject of debate. With the fall of the Berlin Wall and the collapse of real socialism in parallel to the breakup of the USSR, the discourse that liberalism constitutes the dominant and only paradigm (...) rose dramatically in prominence alongside the neoliberal policies implemented following the economic crisis in the 1970s. Undoubtedly, one of the most important works in this trend was the ‘end of history’ thesis put forward by Fukuyama in the 1990s. This study is rooted in the need to reconsider these ‘finalisation’ theses founded on liberalism’s supposed lack of alternatives in the aftermath of the 2007–2008 global financial crisis. Offering a critique of historical economic-political liberalism, it aims to demonstrate the failure of these ending theses, both of which are still accepted and promoted by defenders of neoliberalism. This study employs historical and hermeneutic qualitative research methods. Its most important finding is that neoliberalism cannot be both a political and an economic ‘end’. (shrink)

In 2001 soon after the Asian Crises of 1997-1998, the DotcomBubble, 9/11, the Enron crises triggered a fraud crisis in Wall Street that impacted the market to the core. Since then scandals such as the Lehman Brothers and WorldCom in 2007-2008 and the Great Recession have surpassed it, Enron still remains one of the most important cases of fraudulent accounting. In 2000’s even though the financial industry had become highly regulated, deregulation of the energy industry allowed companies to place (...) bets on future prices. At the peak of the dotcom bubble Enron was named as a star innovator but when the dotcom bubble burst, Enron’s plan to build high speed internet did not flourish and investors started to realize losses. Furthermore, the financial losses of the operations were hid using the market to market accounting technique instead of book value and using special purpose entities to hide debt. The root cause that was identified as a company with a toxic corporate culture focused on officer compensation rather than social responsibility and hence faulty leadership. Is it possible then that; ethical accounting practices, social responsibility and ethics all become inferior goods as income rises in an ‘irrationally exuberant’era? (shrink)

Cambodians are still vulnerable. To reverse those conditions, National Social Protection Strategy (N.S.P.S) was developed for the poor and vulnerable people to promote their livelihoods. Royal Government of Cambodia (R.G.C) has paid attention to social assistance. In strategic plans, highlights on strengthening, and collectively developing social security, consistent and effective. With these issues, the government establishes a national social protection policy framework to help all people in particular poor and vulnerable people (M.o.E.F, 2017, p.1). The research aims at reviewing the (...) institutional capacity of government institutions in charge of the National Social Protection Framework (N.S.P.P.F) toward its goal achievement The Department for International Development (D.E.F.I.D) capacity approach is proposed as a framework for this institution of government toward its goal achievement. The D.E.F.I.D (2003) cited in Kay amp Franks (2003) identifies the approach for assessing capacities in three-level. The strengths and the weakness of the seven points were identified. Those included an Overview of N.S.P.P.F, financial resources, relationship with others, policies and systems, strategies, structures, and technical skills and competencies. It was concluded that budget limitations and lack of data and guidelines for implementing the frameworks were limited. Recommendations were identification of People with Disability (P.W.D) data, people close to the poverty line, the inclusion of P.W.D, increase in budget, and budget decentralization. (shrink)

Many ethicists maintain that medical research on human subjects that presents no prospect of direct medical benefit must have a prospect of social benefit to be ethical. Payment is not the sort of benefit that justifies exposing subjects to risk. Alan Wertheimer has raised a serious challenge to this view, pointing out that in industry, social value is not considered necessary to make dangerous jobs ethical. This article argues that Wertheimer was correct to think that the ethics of hazard pay (...) should be the same in medical research and in business. Nevertheless, a qualified social benefit requirement should apply in both fields. For a study or a job with significant net physical risk to be ethical, it must have social value beyond the satisfaction of ordinary preferences, including the preference for money. The requirement derives from a non-absolutist version of the doctrine of double effect. If a risky study or a dangerous job has no distinctive social value, and hazard pay is subjects' or workers’ only reason to undergo risks, the very fact that they undergo risk is intended as a means to a financial end. Inviting people to enrol in such a study or to take such a job wrongfully treats people as mere means. By contrast, if a study or a job has social value, people can participate with a primary end other than money, even if they accept compensation. Researchers or employers do not intend but merely foresee risks to subjects or workers. (shrink)

Gerontology together with its subfields, such as social gerontology, geragogy, educational gerontology, political gerontology, environmental gerontology, and financial gerontology, is still a relatively new academic discipline that is currently intensively developing, expanding research fields and combining various theoretical and practical perspectives. The interdisciplinarity, transdisciplinarity, and multidisciplinarity of research on ageing and old age, despite its vast thematic, methodological and theoretical diversity, have a common denominator, which is the focus of research work on improving the quality of life of older (...) people. It is the concern for the components of quality of life such as welfare and well-being as well as focus on learning about phenomena conditioning successful ageing that has become motivators and premises hidden or visible in many texts included in the Research Topic “Perspectives and Theories of Social Innovation for Ageing Population.” The Research Topic that we are presenting to our readers is unique not only because of its size but above all because of its novelty and social involvement, visible in the content of individual chapters. The presented collection includes 17 articles prepared in total by 76 authors from the following countries: China, Finland, Germany, Ghana, Hungary, Ireland, Israel, Italy, Japan, the Netherlands, Poland, Portugal, Slovenia, Spain, Sweden, the United Kingdom, and the United States. Two journals were combined with this Research Topic: “Frontiers in Public Health” and “Frontiers in Sociology.” The presented Research Topic contains seven types of articles covering: two community case studies, eight original research articles, two perspective articles, one hypothesis and theory paper, one policy and practice review, one methods article, and two book reviews. The rationale to start work on this set of texts was the desire to continue and deepen the research analyses of the editors of this set, which concern the development of social innovations for the ageing population as well as changes of public policy on ageing. This Research Topic deals with topics covering issues such as social learning, intergenerational transmission, senior entrepreneurship, creative content creation by older adults, care services, raising the independence of older people in their living environments, dementia challenges, the image of the older generation in local social policies, new trends in qualitative research on old age, strategies for dealing with chronic diseases, the use of digital tools in health education, the silver economy/longevity economy, age-friendly environments, the diversity of structures and social services, preparation for old age, and food safety. The wide variety of submitted texts shows several selected and, according to the authors, current challenges that contemporary seniors have to face. The articles comprising this Research Topic are organized according to five themes. (shrink)

Psychological well-being is a major global concern receiving more scholarly attention following the 2008 Great Recession, and it becomes even more relevant in the context of COVID-19 outbreak. In this study, we investigated the impact of economic uncertainty resulting from natural disasters, epidemics, and financial crisis on individuals' mental health. As unemployment rate exponentially increases, individuals are faced with health and economic concerns. Not all society members are affected to the same extent, and marginalized groups, such as those suffering (...) from chronic mental illnesses or low-income families cannot afford the downsizing, mass lay-offs and lack of access to public health services. Psychiatric profession is familiarized with the phenomenon of intolerance of uncertainty (IU), and we examine how this concept is associated with job uncertainty and social identity disturbance. Several studies have formally investigated the effects of IU, but to our knowledge, this is the first research integrating the psychological well-being, job uncertainty and identity disturbance caused by economic breakdown. Literature points to many reported cases of PTSD, anxiety, depression and suicidal tendencies following major social disasters. Yet, we have undertaken to analyze the subjective experiences underlying the self-harming behaviors in an attempt to fill the methodological gap by drawing insights from prominent psychological, sociological and economic theories. We find economic uncertainty to have a positive relation to job uncertainty and identity disturbance, and a negative relationship with psychological well-being. Psychological well-being depends on coherency between both abstract subjective and concrete objective identity, and when these perceptions are inconsistent, cognitive dissonance arises resulting in identity disturbance. We argue that stability is not associated with monetary advantage only, but also with a wide range of other benefits that are crucial for individuals' growth, satisfaction and sense of identity. Therefore, we propose the implementation of social support and public welfare policies to mitigate health risks during the turbulent socio-economic changes. (shrink)

Many multinational corporations develop business operations in Europe. The current research attempts to fill the gap on how corporations can increase their political influence in this geography by exploring the joint effect of corporate political activity(CPA) and social responsibility (CSR) on political embeddedness and financial performance. Based on institutional theory and on a sample of autochthonous (European Union [EU]) and allochthonous (non-EU) firms with declared EU lobbying (from 2008to 2019) we conducted two studies. Based on a multi-level model, Study (...) 1 finds strong and robust evidence that boardroom gender diversity and EU lobbyists inter-actively increase EU political embeddedness. Complementarily, Study 2, which relies on general linear Modeling, suggests that allochthonous corporations are more profit-able when they display high-level political embeddedness and lobbying expenditures, combined with adoption of United Nations (UN) guidelines. Overall, findings show that lobbying in Europe pays off, especially when corporations strive to be aligned with EU ethical values and aspirations. Hiring lobbyists to be based in Brussels and promoting gender equality help establish EU political connections. Subsequently, findings highlight the role that EU political embeddedness, lobbying expenditures, and UN guidelines play in leveraging financial performance, especially across non-EU corporations. Regarding EU corporations, results show that a firm-level investment on CPA-CSR is particularly important. Overall, findings from this research support corporations that are growing businesses in Europe. KEYWORDScorporate political activity, corporate social responsibility, lobbying, return on assets (ROA),United Nations (UN_. (shrink)

Mobile phones are part of a major growth industry in so-called Third World countries. As in other places, the use of this technology changes communication behaviour. The influence of these changes on indigenous social structures was investigated with a mixed-type questionnaire that targeted parameters such as: in-group vs. out-group communication, involvement with dominant industrial culture and the use of financial resources. Data was collected from indigenous representatives at the United Nations, as well as in Africa from subjects of various (...) cultural backgrounds, and from a control group in Berlin. The results reflect widespread use of mobile phones among indigenous persons, having a segregating effect within the indigenous community, but also enhancing ingroup communication and especially the use of the indigenous language. Mobile phones also facilitate moves from village to town, with the opportunity of frequently communicating with other in-group members. (shrink)

This paper argues, through conceptual analysis, against an objection to the disapproval of banks for the 2007-8 crisis: the idea that they could not have acted otherwise (at least not rationally) and that no one should be blamed for a fact one could not have avoided. If true, it would threaten the justification of corporate social responsibility and the legal liability of managers. Identified as the ‘inevitability thesis’, this objection is illustrated by an analysis of the film Margin Call (2011) (...) and associated with other investigations on ethics and responsibility. The target thesis stems from a confusion between different notions of responsibility (for a task, for a decision, for causing an event and for repairing it) and leads to an incoherent form of fatalism. Finally, it is suggested that the invocation of ‘inevitability’ may be a way of rationalizing the decision, obscuring reasons to the contrary. (shrink)

Miranda Fricker argues of an injustice that is distinctly epistemic though it was born out of societal discrimination, identity power, and racial prejudice. More so, Fricker attempts to establish a theoretical space, where ethics, epistemology, and socio-politics can converge. An epistemology which concerns knowledge not for knowledge’s sake alone, but the kind of knowledge that can morally awaken a knowing subject and which can hopefully influence or bring forth a collective social and political change. I will further argue in this (...) paper that aside from moral awakening, the theory of epistemic injustice also attempts to correct our moral appropriations towards social phenomena as it aims to provide an unbiased epistemic basis on issues of social identities, namely: gender, race, religion, financial, economic, and social status, rank or position in work and institutions, among other factors. Epistemic injustice is a hybrid social theory that presupposes social ethical responsibility and epistemic justice among individuals, as well as in social institutions. It initially arose as part of the developments in virtue epistemology, a new trend in epistemology that emphasizes the role of virtue in knowledge, which sprung from the epistemic debates in virtue epistemology of the Anglo-American analytic philosophers. Epistemic injustice finds its own development of the theory now known as vice epistemology, which have special emphasis on non-virtuous acts, namely—vices. This paper is fundamentally aimed to introduce Miranda Fricker’s concept of “epistemic injustice,” including its possible indications within Philippine societal happenings. I then attempt to appropriate the phenomena of epistemic injustice as theorized by Fricker in the context of the Filipino social experience. This essay attempts to tackle the gaps between the apparent disparity in Philippine societies, particularly on issues that concerned the imperial Manila, the Bangsamoro, and other marginalized minorities, such as, transgender people, farmers, and fisher folks, as well as issues regarding the national language. (shrink)

The COVID-19 pandemic has caused a lot of challenges to the globalized world. Globally, it has decimated over six million lives. Since 2019, it has shook the world in many respects, especially, it disrupted economies and societies and halted the majority of human endeavor. Commentaries and reports from the World Health Organization (WHO) and the media showed an alarming situation that could be damning in low and middle income countries. Economic pundits and global public health experts also anticipated doom and (...) gloom for African countries. However, in terms of mortality, the Americas, Europe and Asia have suffered more losses. Irrespective of these loses in Europe, Africa’s case needs better appreciation within our contemporary historical discourse. The burgeoning challenge of the COVID disease and mortalities arising thereby, among other things, necessitated the introduction of policies based on the WHO’s historical understanding of how the world has dealt with pandemics in the past. Some of the strategies that were deployed to fight the pandemic included hand washing under running water with soap, the use of alcohol based hand sanitizers, the wearing of nose masks, social distancing, self isolation as well as partial and complete lockdowns of states and communities. The major economic disruption really came about as a result of many lockdown policies that were implemented by several countries in Africa without proper reference to their own societal contexts. These issues notwithstanding, it is important to emphasize that the extent of the impact on different communities differed to a large extent, even though there were similar levels of the nature of the infection and the general economic outlook among the global community. This current contribution on the COVID-19 discourse used political economy and economic shock as bases to highlight the extent of the impact of the disease by highlighting examples from respective countries in Africa, namely, Ghana, Cameroon, Ethiopia, Algeria and South Africa. In particular, the impact of policies like lock-down on some of these African countries are highlighted for further discussions in future empirical research. The study relied on contemporary historical evidence from multidisciplinary sources on health, economics, policy, and other related studies on epidemiology, public health, health education and promotion, reports and sources from the World Health Organization (WHO). Specifically, the authors have used published research in Lancet, the International Journal of Infectious Diseases, BMJ Global Health, Frontiers in Public Health and the Pan African Medical Journal. The others were African Development Review, Transportation Research Interdisciplinary Perspectives, Africa Spectrum and International Journal of Financial Research including several other empirical research. In attempting a social and economic interpretation based on contemporary historical sense, the findings of this present study suggest that African political actors or leaders should make persistent or steady efforts to strengthen the economies of their states to lessen economic shocks and social costs that come about as a result of pandemics such as the COVID-19. It also identified the fact that within the globalized space, application of policies from other countries including international organizations should not be devoid of context. (shrink)

As we enter the 2020s, global poverty is still a grave and persistent problem. Alleviating and eradicating poverty within and across the world’s societies requires a thorough understanding of its nature and extent. Although economists still standardly measure absolute and relative poverty in monetary terms, a consensus is emerging that poverty is a socially relational problem involving deprivations in multiple dimensions, including health, standard of living, education and political participation. The anthology Dimensions of Poverty advances the interdisciplinary debate on multidimensional (...) poverty, and features contributions from leading international experts and early career researchers (including from the Global South). This introductory chapter gives an overview of formative debates, central concepts and key findings. While monetary poverty measures are still dominant in public and academic debate, their explanatory power has been drawn into question. We discuss relevant criticisms before outlining the normative concepts that can inform both multidimensional poverty and monetary measures, including basic capabilities, basic needs and social primary goods. Next, we introduce several influential multidimensional poverty indices, including the Human Development Index and the Multidimensional Poverty Index. The anthology shows in detail how such measures can be improved, from a variety of disciplinary perspectives. It shows that there are different methods of poverty research that require further investigation, including participatory studies, (value) surveys, public consensus building, the constitutional approach, and financial diaries. Finally, we show that there is an ongoing problem of epistemic asymmetries in global poverty research, and discuss responsibility for addressing poverty, including the responsibilities of academics. The remainder of the chapter is dedicated to a more detailed preview of the volume’s 20 contributions, which are assembled along the following five themes: (I) poverty as a social relation; (II) epistemic injustices in poverty research; (III) the social context of poverty; (IV) measuring multidimensional poverty; and (V) country cases. (shrink)

Our life with art is suffused with trust. We don’t just trust one another’s aesthetic testimony; we trust one another’s aesthetic actions. Audiences trust artists to have made it worth their while; artists trust audiences to put in the effort. Without trust, audiences would have little reason to put in the effort to understand difficult and unfamiliar art. I offer a theory of aesthetic trust, which highlights the importance of trust in aesthetic sincerity. We trust in another’s aesthetic sincerity when (...) we rely on them to fulfill their commitments to act for aesthetic reasons — rather than for, say, financial, social, or political reasons. We feel most thoroughly betrayed by an artist, not when they make bad art, but when they sell out. This teaches us something about the nature of trust in general. According to many standard theories, trust involves thinking the trusted to be cooperative or good-natured. But trust in aesthetic sincerity is different. We trust artists to be true to their own aesthetic sensibility, which might involve selfishly ignoring their audience’s needs. Why do we care so much about an artist’s sincerity, rather than merely trusting them to make good art? We emphasize sincerity when wish to encourage originality, rather than to demand success along predictable lines. And we ask for sincerity when our goal is to discover a shared sensibility. In moral life, we often try to force convergence through coordinated effort. But in aesthetic life, we often hope for the lovely discovery that our sensibilities were similar all along. And for that we need to ask for sincerity, rather than overt coordination. (shrink)

Patients with serious illnesses or injuries may decide to quit their medical treatment if they think paying the fees will put their families into destitution. Without treatment, it is likely that fatal outcomes will soon follow. We call this phenomenon “near-suicide”. This study attempted to explore this phenomenon by examining how the seriousness of the patient’s illness or injury and the subjective evaluation of the patient’s and family’s financial situation after paying treatment fees affect the final decision on the (...) treatment process. Bayesian Mindsponge Framework (BMF) analytics were employed to analyze a dataset of 1042 Vietnamese patients. We found that the more serious the illnesses or injuries of patients were, the more likely they were to choose to quit treatment if they perceived that paying the treatment fees heavily affected their families’ financial status. Particularly, only one in four patients with the most serious health issues who thought that continuing the treatment would push themselves and their families into destitution would decide to continue the treatment. Considering the information-filtering mechanism using subjective cost–benefit judgments, these patients likely chose the financial well-being and future of their family members over their individual suffering and inevitable death. Our study also demonstrates that mindsponge-based reasoning and BMF analytics can be effective in designing and processing health data for studying extreme psychosocial phenomena. Moreover, we suggest that policymakers implement and adjust their policies (e.g., health insurance) following scientific evidence to mitigate patients’ likelihood of making “near-suicide” decisions and improve social equality in the healthcare system. (shrink)

The Brown vs. Board of Education decision of 1954 mandated school integration. The decision also to recognize that inequalities outside the schools, of both a class- and race-based nature, prevent equality in education. Today, the most prominent argument for integration is that disadvantaged students benefit from the financial, social, and cultural “capital” of middle class families when the children attend the same schools. This argument fails to recognize that disadvantaged students contribute to advantaged students’ educational growth, and sends demeaning (...) messages to the disadvantaged students and messages of unwarranted superiority to the advantaged. Parents, teachers, and schools can adopt a justice perspective that avoids these deleterious aspects of the capital argument, and helps create a community of equals inside the integrated school. Struggles for educational justice must remain closely linked with struggles of both a class- and race-based nature for other forms of justice in the wider society. (shrink)

This paper seeks to determine the extent of anti-corruption information disclosure in the sustainability reports originating from Gulf countries. Focus primarily on the fight against corruption, this study utilizes a deeply-rooted content analysis technique of corporate sustainability reporting, covering 66 Gulf Cooperation Council (GCC) firms during 2014. Strengthened by the application of institutional theory, insight into the results points to a state of limited maturity regarding the disclosure of anti-corruption procedures in the region. More specifically, the results highlight the compliance (...) in the reporting of conduct code, while reporting information on whistle-blowing was significantly less in comparison. Firms in Qatar and UAE ultimately release better informed reports; inclusive of detailed information on internal anti-corruption practices. (shrink)

One famous scene in The Wolf of Wall Street (2013) is the dialogue between the young Jordan Belfort (Leonardo DiCaprio) and the expert trader Mark Hanna (Matthew McConaughey). Hanna is complaining that the stock market is unpredictable; it’s “fugazi … it’s fairy dust. It doesn’t exist. It’s never landed. It is not matter. It’s not on the element chart. It’s not real”. But the fact that something is unpredictable and non-physical does not imply that it does not exist. On the (...) other hand, its unpredictability, non-physicality, and the fact that the stock market trend is largely determined by investors’ beliefs, do make its nature difficult to grasp. -/- This special issue of Rivista di Estetica aims to explore the financial sector from an ontological point of view. While the ontology of money has been extensively studied, few scholars have focused on the stock market and, more generally, on those entities belonging to the investment landscape. Matters are made more complicated by the fact that the financial sector is characterized by an ever-increasing use of digital technology, including software elements that trade in the market themselves. We believe that a careful study of this phenomenon may help us better to understand the role of artificial agents in the social world. (shrink)