To save content items to your account,
please confirm that you agree to abide by our usage policies.
If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account.
Find out more about saving content to .
To save content items to your Kindle, first ensure no-reply@cambridge.org
is added to your Approved Personal Document E-mail List under your Personal Document Settings
on the Manage Your Content and Devices page of your Amazon account. Then enter the ‘name’ part
of your Kindle email address below.
Find out more about saving to your Kindle.
Note you can select to save to either the @free.kindle.com or @kindle.com variations.
‘@free.kindle.com’ emails are free but can only be saved to your device when it is connected to wi-fi.
‘@kindle.com’ emails can be delivered even when you are not connected to wi-fi, but note that service fees apply.
‘Restoration of a sick person to health’, wrote Lord Beveridge in 1942, ‘is a duty of the State and the sick person, prior to any other consideration.’ When the Minister for Health, Nye Bevan, introduced the National Health Service Act 1946, he said it was ‘repugnant to a civilised community for hospitals to have to rely upon private charity’, and that ‘money ought not to be permitted to stand in the way of obtaining an efficient health service’.
‘Dear Tony, I see the Russians have put a space vehicle on the moon’, wrote a voter to their MP in 1959. ‘Is there any chance of a better bus service in Bristol?’ Transport is a wonder of technology, giving us space travel, and sometimes even buses, but its use for good or ill depends on our law. An electric revolution is underway, yet the last shift took fifty years, for petrol motors to replace horses, and today we are out of time. Transport expels 27 per cent of UK greenhouse gas emissions, mainly by road and rail, and 24 per cent of global emissions.
When people ask me, as they often do, to recommend a single-volume overview of American economic history, I always feel stumped. Sometimes I suggest textbooks in the field, sadly all out of date at this writing, and sometimes monographs that cover specific periods or topics. Now, finally, I have a good answer. I can recommend Jonathan Levy's Ages of American Capitalism. A comprehensive narrative that runs from the colonial period through the recent financial crisis, the book is broader than the accounts most economic historians would offer in that it pays considerable attention to Americans’ cultural responses to economic change. At the same, time, however, it provides up-to-date coverage of the relevant economics literature, making it accessible to readers not able to follow the econometrics. Undoubtedly, specialists will find things to quibble about. I did. But that goes with the territory. The bottom line is that Ages of American Capitalism is an impressive work of synthesis that everyone interested in American history should read.
This study presents the facts, arguments and scenarios around public debt from a global perspective. Especially the largest economies feature record debt and fiscal risks, including from population ageing and financial imbalances. Given low interest rates, there is no imminent problem. But at some point, debt will have to come down. There are four possible scenarios how debt could come down. First, governments could economise and reform. Second, governments could default. Third, governments could erode the real value of debt via inflation and negative real interest rates. However, this scenario cannot continue forever. Policy errors can prompt a loss of confidence, destabilisation and crisis. This fourth scenario last included the largest economies in the 1970s. It would become a major global challenge if it were to happen again in today's interconnected world.
Defending social and political positions other than those that a company's clients might support has always been an avoidable risk. However, this practice, called ‘corporate activism,’ has gradually been integrated into the strategies of organizations. The object of this work is thus to understand the antecedents of corporate activism from the consumer's point of view. To understand this, we carry out structural equation modeling (SEM) based on a sample of 1,521 consumers. The results demonstrate that: (i) institutional credibility, corporate credibility, and authenticity act as antecedents of corporate activism; (ii) corporate credibility has a positive influence on corporate activism, while institutional credibility has a negative impact. These findings represent an interesting and novel contribution that helps to understand how these types of high-risk strategies should be adopted. The application of these results could enable companies to determine the conditions that favor a positive evaluation of corporative activism by consumers and avoid the use of such strategies in less favorable situations.