Business Commons^™

Incorporating Sustainability Into Principles Of Macroeconomics: A Case Study, Madhavi Venkatesan

Madhavi Venkatesan

Using grant funded resources, this case study explicitly engaged students in a Principles of Macroeconomics course with respect to the impact of sustainability-based values on economic indicators and standard of living parameters, while coincidentally opening discussion to the implicit nature of consumption-based values in the economic assessment of growth. Student assimilation and reaction to the curriculum was documented over the period of the course. Students provided responses to weekly questionnaires, which tracked their changing perceptions, values, and behaviors. Weekly class discussions and individual student assessment of the awareness fostered by reviewing the two divergent value structures also contributed to qualitative …

Axiomatic Social Choice Theory, David Randall Jenkins

David Randall Jenkins

Ordered Relations Theory’s two axioms ultimately enable (individual: society) well-being transitivity inasmuch as they impound Social Choice Theory’s impossibility theorem, impossibility-resolving axioms, and all such further regressive impossibility theorems and impossibility-resolving axioms.

The Economic And Behavioral Success Of Riot Games In An Undifferentiated Video Game Market, Maxine J. Yakobi

Maxine J Yakobi

The vast success of Riot Games is relatively undisputed amongst financial analysts as well as online communities despite there being little information publicly available that specifically addresses how their game has differentiated itself in a homogenous market. Additionally, there is little information that addresses the opportunity cost of paying money for components within this specific server for advantages within the game. I believe there to be something functionally unique about Riot’s business in particular that allows for it to acquire steady fiscal growth from people investing their money into effectively a “free” online game and I would like to explore …

Brand Valuation Of Intangible Assets: Hot Topics Of 2014, Scott D. Hakala

Scott D Hakala

Outline of Topics and Points made during a Webinar on Brand Valuation. The discussion includes some comments on issues with brand valuation and the do's and don'ts for such valuation analyses.

Decision-Making In Economics: Critical Lessons From Neurobiology, Renato Alas Msc, Kuldeep Kumar, Avik Mukherjee, Munirul Haque Nabin, Sukanto Bhattacharya

Renato A Martins MSc

Book Description: Game Theory has provided an extremely useful tool in enabling economists to venture into unknown areas. Its concepts of conflict and cooperation apply whenever the actions of several agents are interdependent; providing language to formulate as well as to structure, analyze, and understand strategic scenarios. Economic Behavior, Game Theory, and Technology in Emerging Markets explores game theory and its deep impact in developmental economics, specifically the manner in which it provides a way of formalizing institutions. This is particularly important for emerging economies which have not yet received much attention in the academic world. This publication is useful …

Remic Tax Enforecement As Financial-Market Regulator, Bradley T. Borden, David J. Reiss

Bradley T. Borden

Lawmakers, prosecutors, homeowners, policymakers, investors, news media, scholars and other commentators have examined, litigated, and reported on numerous aspects of the 2008 Financial Crisis and the role that residential mortgage-backed securities (RMBS) played in that crisis. Big banks create RMBS by pooling mortgage notes into trusts and selling interests in those trusts as RMBS. Absent from prior work related to RMBS securitization is the tax treatment of RMBS mortgage-note pools and the critical role tax enforcement should play in ensuring the integrity of mortgage-note securitization.

This Article is the first to examine federal tax aspects of RMBS mortgage-note pools formed …

Voice Without Say: Why Capital-Managed Firms Aren’T (Genuinely) Participatory, Justin Schwartz

Justin Schwartz

Why are most capitalist enterprises of any size organized as authoritarian bureaucracies rather than incorporating genuine employee participation that would give the workers real authority? Even firms with employee participation programs leave virtually all decision-making power in the hands of management. The standard answer is that hierarchy is more economically efficient than any sort of genuine participation, so that participatory firms would be less productive and lose out to more traditional competitors. This answer is indefensible. After surveying the history, legal status, and varieties of employee participation, I examine and reject as question-begging the argument that the rarity of genuine …

A Theory Without A Movement, A Hope Without A Name: The Future Of Marxism In A Post-Marxist World, Justin Schwartz

Justin Schwartz

Just as Marx's insights into capitalism have been most strikingly vindicated by the rise of neoliberalism and the near-collapse of the world economy, Marxism as social movement has become bereft of support. Is there any point in people who find Marx's analysis useful in clinging to the term "Marxism" - which Marx himself rejected -- at time when self-identified Marxist organizations and societies have collapsed or renounced the identification, and Marxism own working class constituency rejects the term? I set aside bad reasons to give on "Marxism," such as that the theory is purportedly refuted, that its adoption leads necessarily …

Pompeii And The Vesuvian God, David Randall Jenkins

David Randall Jenkins

The paper argues the Vesuvian destruction of Herculaneum and Pompeii in 79 AD engendered the formulation of the Anno Domini and the writing of scripture.

Neoliberalism And The Law: How Historical Materialism Can Illuminate Recent Governmental And Judicial Decision Making, Justin Schwartz

Justin Schwartz

Neoliberalism can be understood as the deregulation of the economy from political control by deliberate action or inaction of the state. As such it is both constituted by the law and deeply affects it. I show how the methods of historical materialism can illuminate this phenomenon in all three branches of the the U.S. government. Considering the example the global financial crisis of 2007-08 that began with the housing bubble developing from trade in unregulated and overvalued mortgage backed securities, I show how the repeal of the Glass-Steagall Act, which established a firewall between commercial and investment banking, allowed this …

Long Run Relationship Between Poverty And Macro-Economic Variables In Pakistan, Muhammad Naeem Akhtar

Muhammad Naeem Akhtar

This research study examines the long run relationship between poverty and economic indicators in Pakistan. Data from 1972 to 2010 is used to analyze the relationship between various economic variables and poverty. The economic indicators include; consumer price index, literacy rate and population growth. Head count rate is used to measure poverty. The statistical techniques used include unit root Augmented Dickey Fuller test (for checking the stationary data) & Johansen’s co-integration test for long run relationship. The study found co-integration between all the economic factors and poverty, which means that economic performance indicators are pertinent predictors of poverty. This can …

A Comparison Of Anti-Manipulation Rules In U.S. And Eu Electricity And Natural Gas Markets: A Proposal For A Common Standard, Shaun D. Ledgerwood, Dan Harris

Shaun D. Ledgerwood

In this paper, we describe the development and current status of anti-manipulation rules as they apply to wholesale electricity and natural gas markets in the United States and the European Union, including the institutions that are responsible for overseeing these rules. We then compare and contrast these jurisdictions to discuss similarities, differences, and potential gaps in coverage within and across their internal markets. We note that while the behavior prohibited by the U.S. and EU statutes is remarkably similar, there is in fact no common standard for defining market manipulation. The absence of a common EU/U.S. framework for examining manipulative …

Role Of Agriculture In Economic Growth Of Pakistan, Syed Ali Raza Mr, Yasir Ali, Farhan Mehboob

Farhan Mehboob

This research based on the role of agriculture in the economic growth of Pakistan. Secondary data has been collected from the year 1980-2010 from the government authentic websites. For this purpose simple regression applied to identify the significance relationship of agricultural sub-sectors with GDP. Results suggested that there is the significance role of agriculture sub-sectors towards the economic growth only forestry showed insignificant relationship with GDP. Another objective is based on to know the contribution of each sub-sector over the aggregate agriculture amount. Result suggest that crops and livestock’s total contribute 91% combined in the aggregate agriculture sector that represent …

Where Did Mill Go Wrong? Why The Capital-Managed Rather Than The Labor-Managed Enterprise Is The Predominant Organizational Form In Market Economies, 73 Ohio State L.J. 219 (2012, Justin Schwartz

Justin Schwartz

In this Article, I propose a novel law and economics explanation of a deeply puzzling aspect of business organization in market economies. Why are virtually all firms organized as capital-managed and -owned (capitalist) enterprises rather than as labor-managed and -owned cooperatives? Over 150 years ago, J.S. Mill predicted that efficiency and other advantages would eventually make worker cooperatives predominant over capitalist firms. Mill was right about the advantages but wrong about the results. The standard explanation is that capitalist enterprise is more efficient. Empirical research, however, overwhelmingly contradicts this. But employees almost never even attempt to organize worker cooperatives. I …

The Balanced Scorecard: An Intentional Academic Fraud?, David Randall Jenkins

David Randall Jenkins

The Kaplan and Norton 1992 Balanced Scorecard was intentionally structured to aid an Informal Capital Market Cartel in search of the next John Maynard Keynes.

Overview Of The Evolution Of China's Central Bank And Monetary Policy: Correlation To The European Union, Alida S. Skold

Alida S. Skold

As an innovator in the financial system, China was the first to use paper currency. Eventually the form of currency was held responsible for devastating inflation and was abandoned during the Ming Dynasty. Going forward in time, uprisings and discontent have emphasized the importance of controlling inflation. The central bank is pivotal in issuing monetary policy to control inflation and to maintain financial stability as the government transforms itself from a planned economy to a mixed market economy. The transforming economy is moving toward a free market system through series of economic reforms. The correlation between China’s structure and the …

Collective Choice, Justin Schwartz

Justin Schwartz

This short nontechnical article reviews the Arrow Impossibility Theorem and its implications for rational democratic decisionmaking. In the 1950s, economist Kenneth J. Arrow proved that no method for producing a unique social choice involving at least three choices and three actors could satisfy four seemingly obvious constraints that are practically constitutive of democratic decisionmaking. Any such method must violate such a constraint and risks leading to disturbingly irrational results such and Condorcet cycling. I explain the theorem in plain, nonmathematical language, and discuss the history, range, and prospects of avoiding what seems like a fundamental theoretical challenge to the possibility …

Ordered Conflict Resolution, David R. Jenkins

David Randall Jenkins

Ancient philosophers resolved Arrovian impossibility through a marriage of ethics and economics. Ordered conflict resolution is the competent social choice theory threshold necessary condition.

The Unconstitutionality Of Current Legal Barriers To Telemedicine In The United States: Analysis And Future Directions Of Its Relationship To National And International Health Care Reform, Deth Sao, Amar Gupta

Deth Sao

The current health care crisis in the United States compels a consideration of the crucial role that telemedicine could play towards deploying a pragmatic solution. The nation faces rising costs and difficulties in access to and quality of medical services. Telemedicine can potentially help to overcome these challenges, as it can provide new cost-effective and efficient methods of delivering health care across geographic distances. The full benefits and future potential of telemedicine, however, are constrained by overlapping and often inconsistent and inadequate regulatory frameworks, as well as the repertoire of standards imposed by state governments and professional organizations. Proponents of …

Judicial Martial Law - Appendix, David Randall Jenkins

David Randall Jenkins

No abstract provided.

Judicial Martial Law, David Randall Jenkins

David Randall Jenkins

No abstract provided.

Taxing Shared Economies Of Scale, Brad Borden

Bradley T. Borden

Economies of scale exist if long-run average costs decline as output rises. All else being equal, the decline in average costs should lead to greater profitability, making economies of scale attractive to businesses. Nobel laureate George Stigler recognized that economies of scale should help determine the optimum size of a firm. To obtain economies of scale and optimum firm size, parties may integrate resources or grant access to resources without integrating. Such arrangements create shared economies of scale. Tax law must consider the effects of shared economies of scale and address them. In particular, the varying degrees of scale-sharing raise …

Delivery Of Legal Services To Immigrant Small Business Owners: The Problems And A Model To Solve Them, William A. Langer, Pablo A. Ormachea

William A Langer

Delivery of Legal Services to Immigrant Small Business Owners: The Problems and a Model to Solve Them. By Pablo Ormachea & William Langer

Immigrant entrepreneurs not only provide essential support for individual families, but also serve as key engines of economic growth for United States cities. While immigrant small-business owners continuously stimulate growth in various economic sectors, creating new jobs and helping to develop inner-city neighborhoods, they overcome considerable obstacles and barriers to reach these achievements. This article argues that a deeper understanding of such systemic barriers can help to reduce such barriers so that an increasingly larger number of …

International Strategic Alliance, Mohd Arif

Mohd Arif

A Strategic Alliance is a relationship between firms to creat more value than they can on their own

The Genesis Creation Sequence: The Principles Of Social Choice Theory Impossibility-Resolution, David Randall Jenkins

David Randall Jenkins

The Genesis Creation Sequence is not about the creation of the physical world, per se. Rather, it is about the resolution of conflict in the philosophy of the human condition.

Balanced Scorecard Paper, David Randall Jenkins

David Randall Jenkins

Ordered conflict resolution reference ethics explains the Balanced Scorecard's success as competent social choice theory derived. Moreover, the paper supplants the Learning and Growth Perspective and adds the Social Policy Perspective.

Social Choice Theory Implications For Management Control Systems, David Randall Jenkins

David Randall Jenkins

This paper contributes a social choice theory competent context to managerial accounting. This context enables an economic progression framework that will ultimately drive performance measure content and, inter alia, contribute a meaningful standard for financial accounting's going concern assumption.

Agenda Setting, Issue Priorities, And Organizational Maintenance: The U.S. Supreme Court, 1955 To 1994, Jeff L. Yates, Andrew B. Whitford, William Gillespie

Jeff L Yates

In this study, we examine agenda setting by the U.S. Supreme Court, and ask the question of why the Court allocates more or less of its valuable agenda space to one policy issue over others. Our study environment is the policy issue composition of the Court's docket: the Court's attention to criminal justice policy issues relative to other issues. We model the Court's allocation of this agenda space as a function of internal organizational demands and external political signals. We find that this agenda responds to the issue priorities of the other branches of the federal government and the public. …

Relativism, Reflective Equilibrium, And Justice, Justin Schwartz

Justin Schwartz

THIS PAPER IS THE CO-WINNER OF THE FRED BERGER PRIZE IN PHILOSOPHY OF LAW FOR THE 1999 AMERICAN PHILOSOPHICAL ASSOCIATION FOR THE BEST PUBLISHED PAPER IN THE PREVIOUS TWO YEARS.

The conflict between liberal legal theory and critical legal studies (CLS) is often framed as a matter of whether there is a theory of justice that the law should embody which all rational people could or must accept. In a divided society, the CLS critique of this view is overwhelming: there is no such justice that can command universal assent. But the liberal critique of CLS, that it degenerates into …

What's Wrong With Exploitation?, Justin Schwartz

Justin Schwartz

Abstract: Marx thinks that capitalism is exploitative, and that is a major basis for his objections to it. But what's wrong with exploitation, as Marx sees it? (The paper is exegetical in character: my object is to understand what Marx believed,) The received view, held by Norman Geras, G.A. Cohen, and others, is that Marx thought that capitalism was unjust, because in the crudest sense, capitalists robbed labor of property that was rightfully the workers' because the workers and not the capitalists produced it. This view depends on a Labor Theory of Property (LTP), that property rights are based ultimately …