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This paper is a part of the project supported by the European Commission under the Horizon 2020 call (project ID is 101027432). We would like to acknowledge the contributions of the participants of the sessions organized at the World Economic History Congress in Paris, CLIO World Conference in Dublin, and the European Historical Economics Society meeting in Groningen, WEast 2023 Conference in Prague, as well as the participants of the seminar series in Utrecht, Groningen, Abu Dhabi (NYU), London (LSE), Odense (SDU), and Berlin (Humboldt), the participants of internal seminars at the University of Southern Denmark and the University of Bologna. We are especially thankful to the participants of the 2023 Summer Workshop in the Economic History and Historical Political Economy of Eurasia (Paris). We especially appreciate the help of Dmitrii Khitrov with map design. We also acknowledge substantive comments by Jutta Bolt, Jonathan Chapman, Herman de Jong, Steven Hoch, Andrei Markevich, Steven Nafziger, Paul Sharp, Alessandro Stanziani, and Jan Luiten van Zanden.
This paper examines workplace bullying in the hospitality sector – an industry paradoxically defined by welcoming others – through a mixed-method approach integrating large-scale quantitative analysis with an in-depth qualitative case study. Study 1 draws on survey data from 2,302 hospitality employees in Aotearoa, New Zealand, to identify the prevalence, patterns, and perpetrators of bullying, and employees’ confidence in employer responses. Over half (56%) reported experiencing or witnessing bullying, with women and supervisors most affected. Study 2 explores a Māori hospitality business guided by manaakitanga (care), whanaungatanga (relationships), and tika (fairness), illustrating how Māori values can counter bullying behaviours. Together, the studies reveal the gap between hospitality’s ideals and workplace realities, proposing Māori-informed approaches as a pathway towards more respectful, inclusive, and restorative organisational environments. The paper contributes to management and hospitality scholarship by demonstrating how Indigenous relational ethics can operationalise organisational care as an antidote to workplace harm.
While digital product innovation offers unprecedented opportunities for incumbent firms to create competitive advantages, its fluid and iterative nature presents distinctive cognitive challenges. There is limited empirical literature explaining the role of constructive cognitive characteristics of executives in differentiating the successful pursuit of digital product innovation. Drawing on upper echelons theory and the attention-based view, we examine how chief executive officer (CEO) cognitive flexibility enables incumbent firms to pursue digital product innovation. Through a mixed-methods approach combining a field survey of 178 machine-building firms and a scenario-based experiment with 134 participants, we demonstrate that CEOs with higher cognitive flexibility achieve superior digital product innovation outcomes by facilitating insightful information acquisition and processing. This relationship is strengthened when CEOs engage in more boundary spanning activities and when firms possess greater social capital. Our study contributes to strategic leadership research by demonstrating how CEO cognitive flexibility enables incumbent firms to navigate the cognitive demands of digital product innovation, while enriching our understanding of how adaptive attention patterns shape strategic adaptation in increasingly digitized environments.
This paper evaluates how a major policy shift—the suspension of the gold standard in September 1931—affected employment outcomes in interwar Britain. We use a new high-frequency industry-level dataset and difference-in-differences techniques to isolate the impact of devaluation on exporters. At the micro level, the break from gold reduced the unemployment rate by 2.7 percentage points for export-intensive industries relative to non-export industries. At the aggregate level, this effect stimulated the labor market, the fiscal outlook, and economic growth. Devaluation was therefore an important initial spark of recovery from the depths of the Great Depression.
Strategy research has long linked sustained competitive advantage to barriers to imitation. We highlight network effects as an alternative mechanism and adopt a geotemporal perspective to theorize how firms sustain advantage as it unfolds over time in international markets. Our study examines this question through the performance persistence of social platforms, focusing on how institutional and demand-side conditions shape the sustainability of platforms’ competitive advantages. We propose that intellectual property rights protection may restrict the degree of freedom in information dissemination, dampening the role of network effects in sustaining superior performance, whilst demand heterogeneity may enhance the value of sizable network membership for information consumption. Evidence from a cross-country dataset of platforms supports these predictions. These findings enrich our understanding of how geographic variations shape the endurance of a platform’s competitive advantage over time, offering implications for both global strategy and platform governance.
Digital entrepreneurship has attracted growing scholarly attention for its potential to alleviate poverty. Drawing on imprinting theory, this study examines how digital entrepreneurs’ past poverty experience shapes their poverty reduction outcomes. Using two waves of survey data from over 200 digital entrepreneurial ventures in rural China, we find that entrepreneurs’ past poverty experience exerts a significant positive effect on poverty reduction outcomes, and this relationship is mediated by the development of firms’ digital capabilities. Furthermore, resource constraints strengthen the imprinting–capability pathway, thereby amplifying the indirect effect of poverty experience on poverty reduction outcomes. This study deepens our understanding of the micro-level mechanisms through which digital entrepreneurship contributes to poverty alleviation, and provides a more nuanced framework for exploring the intersection of personal history and entrepreneurial outcomes in poverty reduction. It also advances imprinting theory by introducing a process-oriented perspective that highlights capability formation as a critical pathway through which early-life adversity is transformed into entrepreneurial outcomes.
This paper concerns the difficulty of avoiding an additive version of the Very Repugnant Conclusion. An impossibility theorem is provided which shows that we cannot avoid this version of the Repugnant Conclusion even if we deny the Mere Addition Principle and closely related principles which place limits on the badness of adding happy people, such as “Dominance Addition” and additive “Non-Sadism” conditions. I argue that the impossibility theorem shows that the additive version of the Very Repugnant Conclusion cannot reasonably be avoided by population-ethical means alone. One must instead either deny structural conditions such as acyclicity, adopt a radically unorthodox fixed-population axiology, or accept this version of the Very Repugnant Conclusion.
Afforestation and forest restoration have been central to emerging global strategies for climate change mitigation. Based on a framed field experiment (FFE) conducted in the Uttara Kannada region in Karnataka, India, this study investigates whether monetary incentives could effectively promote afforestation and what the likely distributional consequences are. The FFE set-up was designed to provide respondents with choices on planting native or commercial trees in their village common forest. The native trees were associated with higher risk of survival compared to commercial trees. They also provided a mix of monetary and non-monetary benefits which differed across three variations in the experimental design. We find that monetary payments for planting native species worked better when combined with non-monetary benefits. Also, private tenurial rights mediated responses to monetary incentives. The results highlight how heterogeneous interests within the community could play an important role in determining effectiveness and distributional outcomes of afforestation policy.
In contrast to the drastic shifts in China's political landscape and society since 2012, taxation may appear as a comparatively mundane topic receiving limited attention. However, the relative stability in China's taxation system underscores its delicate role in maintaining a balance in state–society relations. The Element embarks on an exploration of China's intricate taxation system in the contemporary era, illuminating its origins and the profound reverberations on state–society relations. It shows that China's reliance on indirect taxation stems from the legacies of transitioning from a planned economy to a market-driven one as well as elaborate fiscal bargaining between the central and local governments. This strategy inadvertently heightens Chinese citizens' sensitivity to direct taxation and engenders the tragedy of the commons, leading to rising government debts and collusion by local governments and businesses that results in land expropriation, labor disputes, and environmental degradation.
Few works of economic and political analysis have exerted a more profound influence on European, American and latterly world economic and social policy than Adam Smith's Wealth of Nations. The version of Adam Smith's economic and social philosophy which has been invoked by proponents such as those in the Adam Smith Institute has often not been the product of a reading of the whole of the Wealth of Nations, but has rested instead on acceptance of the selective reading of parts of the book developed by nineteenth-century market liberals. In the nineteenth century, critiques of the effects of the division of labour were developed outside political economy by a sequence of British cultural critics from Hazlitt and Coleridge to Carlyle and Arnold, who deployed them in their attacks on contemporary industrial capitalism and the 'dismal science' of economics which they saw as providing its intellectual rationalisation; more radically, they formed an important element in the critique of political economy developed by Engels and Marx. Reaffirming the importance of the cultural analysis in the Wealth of Nations as a whole has been an important element in re-examining the historical particularity of Smith's work. Bearing in mind the strength of the cultural critique developed in the later books of the Wealth of Nations, a textually aware reading of the whole work suggests the extent to which its earlier and most famous arguments rest on what might be called strategic imprecisions.
There's definitely something odd about the way Adam Smith and the Wealth of Nations have come into vogue during the past fifteen years or so: partisans of what has come to be known as the 'free market' present themselves as true disciples of Smith - yet they seem to care much more for his image than for his ideas. The invisible hand is unquestionably the best-known ingredient of the Wealth of Nations, as well as being the one most beloved of the free marketeers; but it is also the least well understood, and in the course of time it has become the most crassly distorted. By reducing the complexities of the Smithian concept of self-interest to a single, undifferentiated interest in material gain, modern economists (and by no means the 'free marketeers' alone) make Adam Smith's concept of the invisible hand virtually unintelligible - in the first place to themselves.
This chapter reviews Smith's treatment of the principles of public finance and the ideal organisation of public works and services. But it is more important for our present purpose to note Smith's advocacy of a compulsory programme of higher education. As to the organisation of educational provision, Smith's analysis of principles which are of general application refers primarily to the universities and may well reflect the content of a letter which he wrote to William Cullen in September 1774. The state, arguably, also has a duty to control the organisation of public services where the efficiency criteria cannot be met. If the key principle is that intervention is a function of market imperfection it is little wonder that Professor Macfie could remark that the strategies which can be culled from the Wealth of Nations could be interpreted to suggest a formidable state autocracy.
Few works of economic and political analysis have exerted a more profound influence on European, American and latterly world economic and social policy than Adam Smith's Wealth of Nations. In tracing the pattern of silences on the subject of female labour in the Wealth of Nations, against the abundant evidence of its importance in the contemporary economy, Kathryn Sutherland provides a powerful example of the extent to which the text has functioned as an ideological construct, shaping the world in its image, rather than offering a 'scientific' analysis of the empirical evidence of that world, as a neutral basis of economic policy decisions. Reaffirming the importance of the cultural analysis in the Wealth of Nations as a whole has been an important element in re-examining the historical particularity of Smith's work.
Heirs’ property poses barriers to income and wealth generation, especially in rural and underserved communities. Using county-level data from the contiguous U.S., this study examines spatial clustering and socioeconomic correlates of heirs’ property prevalence. Results show strong spatial concentration in the South and higher prevalence in counties with large Black populations, rural areas, and Appalachia. Income inequality and financial factors are more strongly associated with heirs’ property than poverty. Spatial spillovers suggest that addressing heirs’ property in one county may benefit neighbors. Findings highlight spatial dynamics and offer insights for targeting communities and promoting equitable land ownership.
Underpinning the economic argument of Wealth of Nations is Smith's 'system of natural liberty', a system whose principles, if observed, would bring to all wealth and prosperity. First, the determinate relationship between free trade and economic growth established by Ricardo, expressed in terms of an argument for free trade in grain and the impact that this would have on the maintenance of the rate of profit in all economic sectors, was obscured by Marx's fixation upon value. In an older and better world, where exchange took place between economic powers on an equal footing, the cosmopolitical principles expounded by Adam Smith would be quite acceptable. By the mid nineteenth century this 'system' had been transmuted into a doctrine of laissez faire which had not been part of Smith's original intention, a doctrine which allied simplified principles of free trade to conceptions of minimal government intervention into the economic process.
This study utilizes a Bayesian Dynamic Stochastic General Equilibrium model, calibrated with Chinese data, to assess the impact of public investments, which account for about 16.2% of China’s GDP. Despite an expected public capital stock of 256% of GDP, based on a 4.6% depreciation rate and a 0.73 efficiency rate of public investment (emerging-economy estimate), the actual figure stands at 152%. This significant discrepancy underscores the inefficiencies in public investments, with 43% of public investment expenditures enhancing the capital stock. The output elasticity (productivity) of public capital is estimated at just 3%, substantially lower than the previously estimated 8% for emerging economies, and has declined to 2% in the post-2008 period. Simulations based on these efficiency and productivity metrics reveal that the output multiplier of public investment is 0.7. China’s public investments reduce TFP, crowd out private investment, and raise the public debt-to-GDP ratio in the medium term.
There are perhaps three explicit references in the whole text to women's participation in market or industrial activity or to women's wage-earning capacity. As cheap labour came to play a crucial part in the industrialising process, women were employed in large numbers, but often as the means to drive down the rates for a job and to bypass orthodox training customs. Women were throughout the eighteenth century educated within the home and exclusively for the performance of domestic duties. The obvious hero of Smith's narrative of wealth accumulation is the capitalist - the merchant, the entrepreneur or master-manufacturer. It has been argued that the grand project of the Wealth of Nations, Smith's combining of economics, politics and a history of civil society, represents the high point of a Scottish philosophical synthesis which also 'contains the seeds of its own disaggregation'.