Ensuring access to clean water is one of the most important development and health challenges of the twenty-first century. Given the manifold impacts of business activities on water resources, corporate water actions should be of central concern to business ethics researchers. Yet so far we know too little about whether business activities that impact on water resources are noticed or how corporate water actions are valued by a firm’s stakeholders, including by financial markets. In response, we conduct an event study (...) to investigate the shareholder wealth effect of reports of corporate water actions. We explore stock market reactions to water actions by S&P 500 firms from 2005 to 2017, showing that the market reacts positively to reports of responsible water actions and negatively to irresponsible actions. We further explain that these abnormal returns to water actions are associated with a firm’s past performance on ethical issues, arguing that the reputational effects from prior corporate social responsibility and irresponsibility influence market reactions. Our analysis provides evidence that there are diminishing marginal returns to responsible water actions for firms with records of past responsibility and an offsetting effect for those with past irresponsibility. Similarly, we demonstrate an insurance effect that limits punishment for irresponsible water actions for firms with responsible performance records and diminishing negative marginal returns for those already seen to be irresponsible. This study is the first to show that shareholders recognize market value in corporate water actions and are prepared to award or punish firms in stock markets based on their impacts on water. (shrink)

Rare earth elements have become increasingly important because of their relative scarcity and worldwide increasing demand, as well as China’s quasi-monopoly of this market. REEs are virtually not substitutable, and they are essential for a variety of high-tech products and modern key technologies. This has raised serious concerns that China will misuse its dominant position to set export quotas in order to maximize its own profits at the expense of other rare earth user industries. In fact, export restrictions on REEs (...) were the catalyst for the U.S. to lodge a formal complaint against China in 2012 at the World Trade Organization. This paper analyzes possible wealth transfer effects by focusing on export quota announcements by China, and the share price reactions of Chinese REE suppliers, the U.S. REE users, and the rest of the world REE refiners. Overall, we find limited support for the view of a wealth transfer in connection with MOFCOM announcements only when disentangling events prior to and post the initiation of the WTO trial, consistent with the trial triggering changes to China’s REE policy and recent announcement to abolish quotas. We do find, however, that extreme REE price movements have a first-order effect on all companies in the REE industry consistent with recent market trends to enable hedging against REE price volatility. (shrink)

What limits should there be on the areas of life that are governed by market forces? For many years, no one seriously defended the buying and selling votes for political elections. In recent years, however, this situation has changed, with a number of authors defending the permissibility of vote markets. One popular objection to such markets is that they would lead to a tyranny of wealth, where the poor are politically dominated by the rich. In a recent paper, Taylor (...) :313–328, 2017. doi: 10.1007/s11158-016-9327-0) has argued that this objection can be avoided if certain restrictions are placed on vote markets. In this paper we will argue that this attempt to rebut an argument against vote markets is unsuccessful. Either vote markets secure their purported benefits but then they inevitably lead to a tyranny of wealth, or they are restricted so heavily that they lack the features that have been claimed to make vote markets attractive in the first place. Using Taylor’s proposal as a test case, we make the more general claim that vote markets cannot avoid the tyranny of wealth objection and bring about their supposed benefits at the same time. (shrink)

This study investigates the internationalization of small family businesses by classifying the effects of external socioemotional wealth vs. internal socioemotional wealth. The study involved 2,704 small family businesses in China, and the results support the hypothesis that family reputation has a positive effect on internationalization, while family involvement has a negative effect on internationalization. Moreover, entrepreneurial spirit reinforces the positive effect of family reputation on internationalization and enhances the negative relationship between family involvement and internationalization. (...) This study contributes by examining the effect of entrepreneurial spirit as a potential balancing factor for the paradoxical influence of internal vs. external socioemotional wealth. (shrink)

Wealth inequality is a prevalent social issue. The present study focuses on acceptance of wealth inequality, and considers personal income, perceived upward mobility, and future time perspective as its antecedents, and collective action intention as its outcome. With reference to the social identity literature and socioemotional selectivity theory, we posit a conditional indirect effect of income on collective action intention through acceptance of wealth inequality: only when mobility and future time perspective are relatively high, higher income (...) is associated with higher acceptance of wealth inequality and in turn, lower collective action intention. Moderated mediation findings, based on territory–wide phone survey data from 866 Hong Kong adults, supported this prediction. This work indicates the relevance of an individual-level instrumental perspective to the understanding of acceptance of wealth inequality as well as collective action intention. (shrink)

Corporations wield power in today’s economies, and political theories of the corporation argue about the legitimacy conditions of corporate power. This paper argues in favour of a double-fiduciary theory for corporations. Based on a concession theory of markets, it sees all markets as authorized by states (in the name of society), for the purpose of creating economic value, or wealth. Hence corporations, as much as non-incorporated firms, have a fiduciary duty to the state/society to create wealth, in the (...) competitive structure of the market. However, their pursuit of wealth often creates unbalanced relations of power between corporations and their stakeholders, which can at some point be classified as instances of domination. Therefore, corporations need to be subjected to a second fiduciary duty, i.e. not to dominate others in the economy. This duty is also, in the final instance, owed to the state/society. In an era when everyone can incorporate their business, states/societies can be interpreted as having, through corporate law, mandated shareholders as ‘proximate beneficiaries’, to incentivize corporations to create wealth. Now states/societies need to think about how to prevent corporations from dominating others. New mechanisms of accountability towards stakeholders and/or citizens as proximate beneficiaries are needed. Only in this way can corporations be effectively held to account for both of the fiduciary duties which characterize their normative status. (shrink)

This article examines John Stuart Mill’s influential proposal of how to tax wealth transfers. According to Mill, every person should be free to bequeath but not to receive bequest. Mill proposed an upper limit on how much each person could receive from wealth transfers. We discuss three objections against this proposal. The nonseparability objection holds that it is not possible to separate the freedom to give from the freedom to receive. The objection from private property holds that private (...) property includes an unlimited right to dispose of one’s assets and that this right is violated under Mill’s scheme. The objection from incentives holds that Mill’s scheme would have negative effects on people’s willingness to work and save. We argue that these objections can be met and that taxing bequeathed wealth according to Mill’s scheme is more just and more efficient compared to systems that rely less on wealth transfer taxation. (shrink)

I perform an economic and ethical analysis on wealth and income inequality. Economists have performed many statistical studies that reveal a number of, often contradictory, findings in connection with the distribution of wealth and income. Hence, the statistical findings leave us with no better knowledge of the effects that inequality has on economic progress. At the same time, the existing theoretical results have not provided us with a definitive answer concerning the effects of inequality on progress. By gaining (...) knowledge of the nature of inequality, and bringing basic economic principles to bear on the subject, we can come to an understanding of what the causal relationship is between inequality and economic progress. Furthermore, I apply a new theory of ethics – rational egoism – to assess economic inequality. I show that, in the right context, economic inequality is both economically and morally desirable. (shrink)

Responsible investment is increasingly prevalent, and both financial and moral concerns can drive such investment. In this article, we investigate how responsible investors of different wealth weigh financial and moral arguments. Prior research on different factors that may codetermine responsible investment behavior yield competing predictions about the influence of personal wealth on investment. We conduct a large-scale natural field experiment on responsible investment, wherein we treat investors with financial, moral, and no arguments. We find that there is a (...) statistically and economically significant difference in responsiveness to financial and moral arguments between investors of different wealth. Specifically, financial arguments are more effective than are moral arguments for high wealth investors but not for low wealth investors, and the effect is particularly high for the wealthiest investors. The findings hold for several different measures of wealth. Our findings contribute to the understanding of the moderating effect of wealth on responsible investment choice. Furthermore, these insights may enable more fine-tuned strategies to stimulate responsible investment among different individual investor segments. (shrink)

In lieu of an abstract, here is a brief excerpt of the content:After Irony: Aristophanes’ Wealth and its Modern InterpretersJames McGlewThe contest between Chremylus and Penia in Wealth (488–626) lies at the center of interpretations of Aristophanes’ final surviving play and of Old Comedy’s dramatic and receptive development in Aristophanes’ last years. In much of the work of scholars since Helmut Flashar’s 1967 article, 1 and including A. E. Bowie’s recent study (1993) on Aristophanes, that contest and the (...) episodic portion of the play following it are seen as dominated by a tension between the play’s logical consequences and its dramatic outcomes; Penia, these scholars believe, gives the better argument, and when Chremylus nonetheless proceeds with his plan of restoring Plutus’ sight, his program is haunted by her warnings: for the insightful members of the audience, Chremylus’ plan proves to be a social and ethical catastrophe. This “ironic interpretation” of Wealth has troubled some recent commentators. But most of those who refuse to see a fundamental disengagement between the logic and drama imbedded in the play, find a similar tension between the play’s dramatic promise and its reception; for Konstan and Dillon (1981) and for Olson (1993), the play imagines universal wealth but serves a conservative, anti-revolutionary ideology: comic fantasy provides an escape for an increasingly impoverished and powerless dēmos. Thus, even if Wealth did not persuade poor Athenians that Penia was better than Plutus, it still helped keep them loyal to her.Recent interest in Wealth has had some effect in rescuing the play from literary death. Viewed as enervated and unimaginative by most scholars of recent generations, 2 Wealth has regained the moral weight [End Page 35] that once inspired the Italian Renaissance to honor it before any other work of Greek antiquity with a Latin translation, 3 and that invited the attention of Fielding (Aristophanes 1742) and other modern translators. Underlying this new interpretation of Wealth lies a reassessment of its dramatic qualities: the dramatic and narrative infelicities that troubled the last generation of Aristophanes scholars are now seen as keys to the subtlety of this last extant example of Old Comedy. But the revived interest and dramatic reassessment of Wealth have made it into a very different play. 4 What earlier scholars had read as a somewhat anemic flight into escapist fantasy is now taken as a demonstration that wealth and justice, good behavior and material happiness are inherently irreconcilable. Chremylus may dream of universal wealth, but the play itself hopes to offer its audience a superior moral wisdom.The new readings of Wealth constitute a relatively united front against which the few dissident voices—Sommerstein’s (1984) is the most important 5 —have had little effect. This paper examines the dramatic and political character of Aristophanes’ last comedy to argue that Wealth itself thematizes the relationship between comic fantasy and its audience’s private desires, a relationship at the heart of recent conservative interpretations of the play. I will suggest that Aristophanes has constructed Chremylus’ victory over Penia to restate—albeit his audience and comedy itself were changing—the political significance and integrity of comic fantasy. Accused by Penia at 557—and by her modern admirers—of doing nothing more than “trying to kō mō idein” her, Chremylus [End Page 36] invites his audience “to laugh at poverty” and dream of escaping it in a way that reaffirms Athenian democratic identity and celebrates the decision-making powers of the collective dē mos. 6The ironic interpretation of Wealth, and even some critics of this interpretation, 7 assume that Aristophanes’ audience would have perceived, and held on to the perception, that Penia’s argument was stronger than Chremylus’; and that, moreover, the superiority of Penia’s argument shaped the audience’s view of the second half of Wealth, which presents a utopic vision of life without her (Olson 1993, 235–36). But the comic arguments of Aristophanes’ earlier agons—our best source for reconstructing the expectations of Wealth’s audience—do not offer much support for these assumptions. Arguments win in Aristophanes’ earlier plays by uniting the Chorus, the synecdochic audience, behind the protagonist; for this, verifiable fact is not necessarily the best tool. In Acharnians, Dicaeopolis’ argument... (shrink)

Using an Item response theory (IRT) analysis, this study examined ethnic and gender groups differences in exposure to content material (i.e. access to curriculum) assessed on the 12th grade NAEP US History 2010 exam. Employing multi-step data analysis procedures, authors examined race and gender using the NAEP Item Mapping Tool available through NCES. Results revealed item-level patterns, which suggest that females and Black students are more likely to answer questions, related to social history, particularly the Civil Rights, when accounting for (...) student achievement. While instructional exposure matters, how students of similar performance differentiate themselves on item response is related to demographics. These findings have substantial implications for social studies, which include the need to develop a more democratic curriculum that reflects the cultural identities of students in order to make history and history knowledge meaningful. Additionally, results have implications for tests. Assessments should be mindful of cultural validity of items and become more inclusive; perhaps aligning with a more culturally relevant curriculum. (shrink)

Supporting Hamilton’s inclusive fitness theory, archival analyses of inheritance patterns in wills have revealed that people invest more of their estates in kin of closer genetic relatedness. Recent classroom experiments have shown that this genetic relatedness effect is stronger for relatives of direct lineage (children, grandchildren) than for relatives of collateral lineage (siblings, nieces, nephews). In the present research, multilevel modeling of more than 1,000 British Columbian wills revealed a positive effect of genetic relatedness on proportions of estates (...) allocated to relatives. This effect was qualified by an interaction with lineage, such that it was stronger for direct than for collateral relatives. Exploratory analyses of the moderating role of benefactors’ sex and estate values showed the genetic relatedness effect was stronger among female and wealthier benefactors. The importance of these moderators to understanding kin investment in modern humans is discussed. (shrink)

We examine the unique nature of agency problems within publicly traded family firms by investigating the earnings management decision of dominant family owners relative to non-family. To do so, we draw upon literature demonstrating that family owners are loss averse with respect to the family’s socioemotional wealth, or the affective endowment derived from firm ownership and control. Our theory and findings suggest that potential reputational consequences of earnings management lead family principals to engage in less of this practice relative (...) to non-family firms, and that founder family firms are less likely than non-founder family firms to use earnings management. Moreover, the family-firm effect varies with the firm size, the degree of CEO entrenchment, and the firm’s stock structure. We provide important insights regarding differences between family and non-family principals in the use of unethical accounting practices, thereby extending agency theory and advancing an underdeveloped research area. (shrink)

The article presents sociological considerations in regards to the advent of globalism. With the implosion of capitalism and the acceleration of globalization, the concept of globalism is in need of new interpretations. Some sociologists indeed would see it solely as the ideology of globalization. In the article, globalism is regarded as a social system not only with ideological characteristics but also economic ones. This radically changes the very logic of capitalism, which is focused on linear and monocentric production. Through the (...) theory of link-value the article illustrates the process by which economic development takes place. It is shown that as well as the assets identified by the main economic schools, development is based on factors such as infrastructure investments, technologies, and networking. Today, with globalism, it is economic ties that create wealth and they are more important than the production process itself. Such transformation is highlighted through the growth of the financial and commercial dimensions, as well as the change in industrial activities. The article deals with the fundamental importance of the global value chain in nowadays, as well as the reshoring and the nearshoring. After illustrating the evolution of territorial networks, several case histories are presented: from the new economic centres of globalism to the decline of industrial districts. Finally, the article examines new generations models of innovation and culture districts. Keywords : Economic development; Globalism; Production processes; Global value chain; Territorial networks; Open innovation. [1] Sunto L'articolo espone alcune considerazioni sociologiche relative all'avvento del globalismo. Con l'implosione del capitalismo e l'accelerazione della globalizzazione, il concetto di globalismo necessita di nuove interpretazioni. Alcuni sociologi infatti lo considerano solamente come l'ideologia della globalizzazione. Nell'articolo, il globalismo è considerato come un sistema sociale con caratteristiche non solo ideologiche ma anche economiche. Questo cambia radicalmente la logica stessa del capitalismo, che è incentrato sulla produzione lineare e monocentrica. Attraverso la teoria del valore-legame l'articolo illustra il processo attraverso il quale si crea lo sviluppo economico. Viene dimostrato che oltre ai fattori proposti dalle principali scuole economiche, quali le infrastrutture pubbliche e la tecnologia, lo sviluppo dipende anche dal networking. Oggi, con il globalismo, sono i legami economici che creano ricchezza e questi ultimi diventano più importanti del processo produttivo in sé. Tale trasformazione è evidenziata dalla crescita delle dimensioni finanziarie e commerciali dell’economia, nonché dal mutamento delle attività industriali. Nell’articolo viene trattata l’importanza che attualmente rivestono le catene globali del valore, ma anche i nuovi fenomeni del reshoring e del nearshoring. Dopo aver illustrato l’evoluzione delle forme di networking territoriale, vengono presentati diversi casi-studio: dai nuovi poli produttivi globalizzati al declino dei distretti industriali. Nella parte finale dell’articolo vengono illustrati modelli distrettuali di nuova generazione come quelli dell’innovazione e della cultura. Parole Chiave : Sviluppo economico; Globalismo; Processi produttivi; Catena globale del valore; Reti territoriali; Innovazione aperta. (shrink)

This study examines the relationship between family control and young entrepreneurial firm’s bribing behavior around the globe. Relying on over 2,000 young firms from the World Bank Environment Survey, we find that family control helps to reduce a firm’s bribery behavior, but further investigation shows that this effect only exists in countries with weaker macro-governance environment. In countries with more established and transparent governance mechanism, family control does not seem to make any difference. We interpret our findings as the (...) business family’s preservation of socioemotional wealth. (shrink)

Effective Altruism encourages affluent people to make significant donations to improve the wellbeing of the world’s poor, using quantified and observational methods to identify the most efficient charities. Critics argue that EA is inattentive to the systemic causes of poverty and underestimates the effectiveness of individual contributions to systemic change. EA claims to be open to systemic change but suggests that systemic critiques, such as the socialist critique of capitalism, are unhelpfully vague and serve primarily as hypocritical rationalizations of continued (...) affluence. I reformulate the systemic change objection, rebut the charges of vagueness and bad faith and argue that charity may not be worth doing at all from a purely altruistic perspective. In order to take systemic change seriously, EA must repudiate its narrowly empiricist approach, embrace holistic, interpretive social analysis and make inevitably controversial judgments about the complex dynamics of collective action. These kinds of evidence and judgment cannot be empirically verified but are essential to taking systemic change seriously. EA is thereby forced to sacrifice its a-political approach to altruism. I also highlight the importance of quotidian, extra-political contributions to perpetuating or changing harmful social practices. Radical efforts to resist, subvert and reconstruct harmful social practices, such as those involved in economic decision-making, could be just as effective and demanding as charity. But such efforts may be incompatible with extensive philanthropy, because they can require people to retain some level of affluence for strategic reasons but to repudiate both the acquisition of significant wealth and charity as is currently organized. The wealth and status of some critics of charity may indeed be incompatible with effectively contributing to social change, but the altruistic merits of charity are neither as obvious nor as easily demonstrated as EA believes. (shrink)

Due to its structure, language is open to change with the differentiation of time and events. The importance of language, which has a great importance in interpersonal communication, is much more privileged for Muslims who shape their civilizations according to the Qur’ān. Because the language in question in this medium is not only an element that completes human relations, but also the language of religion with divine characteristics, which communicates with people through revelation and belongs to the supreme creator. It (...) is normal for a language, which is considered to be a social phenomenon, to be constantly open to change due to meaning expansion, meaning narrowing or meaning distortions. It is possible to change the language in proportion to the development of the human mind. However, if the “language of religion” is in question, it is extremely important in terms of the universal messages it carries that the concepts it contains should not be expanded or distorted in order to preserve the purity of that religion. It is certain that the change that will occur in the words of the Qur’ān will affect its interpretation and thus religious life. In a realm where revelation is fixed and unchangeable, time and understanding are variable, what matters to us is how much we are in harmony with the first and essential meaning given to the concepts in our effort to understand the Qur’ān. In this article, with the revelation of the revelation, the expansion of the concept of mustad‘af to gain new political meanings, a case which almost all commentators have agreed on until today, has been analyzed, especially in the last century. The concept of mustad‘af, which is mentioned in four verses in the Qur’ān and is rarely included in the hadiths, basically represents the people who have not had the opportunity to migrate to live their faith, who were persecuted by deniers and oppressors and whose right to worship was taken away. The concept of mustad‘af, which basically means “weak, belittled and oppressed”, gained a religious content with Islam and preserved it. While the concept has been used in a narrow sense in the Sunni world until today and did not develop any meaning, it found a wide place in the Shiite world and underwent new meaning expansions. After the period of Hulefa-i Raşidîn, the Shiites accepted themselves as victims of the treatment they received by the political powers and named themselves as mustad‘af, and they produced a literature of victimization from there. This concept, which is used by Shiite scholars for people who sometimes do not fall into blasphemy and shirk, and sometimes believe in Allah and His Messenger, although they are not subject to the sect of shia, has been made available for new meanings with the change of world politics after the modern period. In the 19th century, the “social justice” and “equality” discourses of communism affected the Islamic world as well as the whole world. In addition to the establishment of many “left”-centered political parties in the Islamic world, contemporary Muslim thinkers were also influenced by this, and after a while many Islamic values started to be considered as left-wing. Especially before the Iranian Islamic Revolution in 1979, the proletariat and bourgeois conflict was evaluated as an affiliate and mustad‘af, and it was hoped that the neglected masses would be converted to Islam with this new discourse. Those who have an imperialist and capitalist character, covet the wealth of third world countries and do all kinds of evil against them. Those who were left weak, exploited and stripped of their resources were regarded as mustad‘af. Again, the dictators who came to power against the will of the Muslims were evaluated as mustaqbir and the masses of the people as mustad‘af. It is possible to read a historical or religious text through any ideology. However, the fact that should not be ignored here is that if every word and concept in the Qur’ān loses its meaning in the medium and culture in which it descended, the language of religion and therefore all values belonging to religion will evaporate over time. (shrink)

This study aimed to analyze the mediating effect of tolerance of uncertainty and trait anxiety on future self-continuity and intention to use Internet wealth management systems. A questionnaire survey was distributed online and a total of 388 participants completed questionnaire, The questionnaire included the following scales: Chinese version of the FSC, Intention to Use the Internet Wealth Management, TU, and TA. Pearson correlation was used to investigate the correlation coefficient between variables while the sequential regression method was (...) used to analyze relationship between variables. To analyze the collected data, the SPSS 26.0 was used. A two-step procedure was applied to analyze the mediation effect. Confirmatory factor analysis was conducted to test the measurement model. Afterward, the Maximum Likelihood method was used for path analysis, and the Bias-corrected Bootstrap method was used to investigate determine the estimated value and confidence interval of the mediating effect. To analyze the mediation effect, the Mplus 7.0 was used. The results showed that FSC positively predicted individuals’ Internet wealth management systems. Furthermore, TU and TA played complete serial multiple mediating roles between FSC and IUIWM. The role of TA and TU have negative impact on intention to use. This study provides a theoretical basis in personality psychology that Internet financial product suppliers can use to improve the attractiveness of their products. Product managers can subdivide users according to these personality traits to provide customized products. (shrink)

The Epicureans advocate a moderately ascetic lifestyle on instrumental grounds, as the most effective means to securing tranquility. The virtuous person will reduce his desires to what is natural and necessary in order to avoid the trouble and anxiety caused by excessive desire. So much is clear from Epicurus' general ethics. But the later Epicurean Philodemus fills in far more detail about the attitude a wise Epicurean will take toward wealth in his treatise On Property Management. This paper explores (...) some of Philodemus' distinctive doctrines and argues that Philodemus' position on crafts is an improvement on the Socratic and Aristotelian positions that he is reacting against. Philodemus rejects both constraints on what counts as a genuine craft proposed by Socrates in the Gorgias: that a craft aims at a genuine good, and that it is based on a grasp of the nature of its subject. Philodemus also rejects the attempts of Xenophon and Theophrastus to preserve an important place for the craft of property management, conceived of as aiming at maximizing your wealth, within the Socratic and Aristotelian ethical tradition that puts virtue and virtuous activity at the center of the happy life. According to Philodemus, cultivating and exercising the traditional technê of property management is actually incompatible with being a virtuous person and obtaining happiness. (shrink)

Libertarians famously contend that the minimal state is the most just social arrangement because it secures individual freedoms and basic political rights. They also oppose wealth transfer taxation, i.e. taxation of inheritances, bequests, and inter vivos gifts, arguing that it violates people's right to use their wealth freely. However, as I argue, libertarian opposition to wealth transfer taxation causes practical problems for their commitment to a minimal state, as there is strong empirical evidence demonstrating that wealth (...) transfer taxation is required to secure the political rights necessary for a free and stable society. In other words, I contend that without an effective wealth transfer tax, it will be difficult to ensure political rights and basic freedoms, thus leaving the libertarian minimal state in peril of collapse. (shrink)

While Thomas Hobbes is not typically cited as a philosopher concerned with economic inequality, there is a great deal of evidence in his writings to suggest that he was aware of inequality and worried about its effects on the commonwealth. This essay first contextualizes Hobbes in the development of the 17th-century English political economy to understand the mercantilist milieu that might have shaped Hobbes’s thoughts. Second, it then explores Hobbes’s thoughts on wealth, poverty, and inequality, as outlined in his (...) major political works – revealing distinctively Hobbesian grounds for understanding these phenomena. Third and finally, it explores Hobbes’s constructive political philosophy for means by which he might offer prescriptions for addressing them. (shrink)

The following study draws evidence from the fragmentary treatises of Philodemus of Gadara in order to explore the moral content of Satires 1.1 with respect to wealth administration. I provide a reading of this poem that underscores Horace's effective synthesis of Greek thought and Roman culture, which is made possible by the influence of contemporary philosophical treatments that were tailored to fit the concerns of wealthy Romans. Furthermore, I offer an alternative to the many references previous scholars have made (...) to Aristotle and the Cynics by elucidating Horace's economic message, which, being totally consistent with the details of Philodemus' economic concerns, is in many ways more Epicurean than anything else. (shrink)

It is recognised that the gap between rich and poor in Britain is widening faster than in any comparable country. This important issue is attracting increasing attention after long neglect. Economists and others concerned with problems linked with inequality are investigating factors contributing to the situation. Based on results of the first recent major research programme in this area, this book, first published in 1996, examines wealth distribution in the United Kingdom over the last two decades. Leading specialists in (...) the area tackle the problem from a wide variety of perspectives. Contributions include: the analysis of income distribution; the effects of greater female participation in the labour force; social security reform; and geographical variation at the national and local scale. Understanding the complexity of these factors is crucial to designing policies which can begin to cope with income inequalities. (shrink)

If it is accepted that the real marketplace does not necessarily distribute wealth in the manner that the ideal market would have done, and that societal institutions have an obligation to bring the real and ideal market distributions into accord, then it can be argued that economic actors have a responsibility to consider the effects of their activities on the distribution of wealth in society. This paper asserts that businesses have a responsibility to consider the wealth distribution (...) effects of their wealth-creating decisions. We use arguments from moral economics and Catholic social teaching to support this assertion, deriving decision principles that we apply to the Starbucks fair trade coffee case. (shrink)

This article reassesses Weber's position on the influence of Confucianism on China's failure to develop the modern form of capitalism by focusing on the conception of wealth among the merchants in the Ming and Qing dynasties. It starts with a review of the criticisms directed towards Weber's theses, including his claim about an affinity between Calvinism and the spirit of capitalism, and his assertion about the lack of moral tensions in Confucianism. We argue that despite the flaws in his (...) analyses, Weber's position that ideas matter is still relevant. The main shortcoming of his argument about the link between the Confucian value system and the failure of China to develop a modern form of capitalism is that he overlooked a critical element in this value system. This was the idea, widely shared among the merchants in late imperial China, of the desirability of disposing of one's wealth. This had the effect of discouraging the accumulation of capital in a period of incipent capitalism. While this idea was intrinsic to the Confucian intellectual tradition, it was also reinforced by the vulnerable position of the merchants under the omnipotent structure of state political power during the Ming dynasty. This shows that while ideas were crucial in preventing China from developing modern capitalism, they did not operate in isolation from the socio-political context as a historical force. (shrink)

Sociopolitical attitudes are often the root cause of conflicts between individuals, groups, and even nations, but little is known about the origin of individual differences in sociopolitical orientation. We test a combination of economic and evolutionary ideas about the degree to which the mating market, sex, age, and income affect sociopolitical orientation. We collected data online through Amazon’s Mechanical Turk from 1108 US participants who were between 18 and 60, fluent in English, and single. While ostensibly testing a new online (...) dating website, participants created an online dating profile and described people they would like to date. We manipulated the participants’ popularity in the mating market and the size of the market and then measured participants’ sociopolitical attitudes. The sociopolitical attitudes were reduced to five dimensions via Principal Components Analysis. Both manipulations affected attitudes toward wealth redistribution but were largely not significant predictors of the other dimensions. Men reported more unrestricted sociosexual attitudes, and more support for benevolent sexism and traditional family values, than women did, and women supported wealth redistribution more than men did. There was no sex difference in accepting nonconforming behaviors. Younger people and people with lower incomes were more liberal than older people and people with higher incomes, respectively, regardless of sex. Overall, effects were largely not interactive, suggesting that individual differences in sociopolitical orientation may reflect strategic self-interest and be more straightforward than previously predicted. (shrink)

Objective wealth plays an important role in social interaction and economic decision making. Previous studies indicate that objective wealth of others may influence the way we participate in resources allocation. However, the effect of objective wealth on responses to fairness-related resource distribution is far from clear, as are the underlying neural processes. To address this issue, we dynamically manipulated proposers’ objective wealth and analyzed participants’ behavior as responders in a modified Ultimatum Game, during which event-related (...) potentials were recorded. Behavioral results showed that participants were prone to reject unfair proposals although that rejection would reduce their own benefit. Importantly, participants were more likely to accept unfair offers from proposers with low objective wealth than from proposers with high objective wealth, with a drastic increase in acceptance rates of unfair offers from 32.79 to 50.59%. Further electrophysiological results showed that there was significantly enhanced feedback-related negativity amplitude toward proposers with high objective wealth for unfair offers. Furthermore, the late frontal negativity amplitude was larger for all the conditions which are not high-fair, which might be the only option that did not elicit any ambiguity. These findings suggest a strong role of proposers’ objective wealth in modulating responders’ behavioral and neural responses to fairness. (shrink)

Children’s understanding of status and group norms influence their expectations about social encounters. However, status is multidimensional and children may perceive status stratification differently across multiple status dimensions. The current study investigated the effect of status level and norms on children’s expectations about intergroup affiliation in wealth and popularity contexts. Participants were randomly assigned to hear two scenarios where a high- or low-status target affiliated with opposite-status groups based on either wealth or popularity. In one scenario, the (...) group expressed an inclusive norm. In the other scenario, the group expressed an exclusive norm. For each scenario, children made predictions about children’s expectations for a target to acquire social resources. Novel findings indicated that children associated wealth status to some extent, but they drew stronger inferences from the wealth dimension than from the popularity dimension. In contrast to previous evidence that children distinguish between high- and low-status groups, we did not find evidence to support this in the context of the current study. In addition, norms of exclusion diminished children’s expectations for acquiring social resources from wealth and popularity groups but this effect was more pronounced between wealth groups. We found age differences in children’s expectations in regards to norms, but not in regards to status. The implications of how these effects, in addition to lack of effects, bear on children’s expectations about acquiring resources are discussed. (shrink)

This article provides empirical results indicating that acting in a socially respon- sible and lawful manner is a necessary, though not sufficient, condition for increasing shareholder wealth. It meta-analyzes 27 event studies that have mea- sured the stock market's reaction to incidences of socially irresponsible and illicit behavior. It finds that for firms engaging in socially irresponsible and illicit behavior, the effect on shareholder wealth is negative (wealth decreases), statisti- cally significant (p <.001), and so substantial (...) in size (D = -.932) that the distribution of abnormal returns is shifted nearly a full standard deviation to the left (i.e., negatively) from their expected standard normal distribution. This result gives rationally self-interested firms a self-interested reason to act in a socially responsible and law-abiding manner. It also provides support for a moral position called enlightened self-interest, which prescribes that firms should act in a socially responsible manner to promote the shareholders' interests. (shrink)

Effective Altruism is a popular social movement that encourages individuals to donate to organizations that effectively address humanity’s most severe poverty. However, because Effective Altruists are committed to doing the most good in the most effective ways, they often argue that it is wrong to help those nearest to you. In this paper, I target a major subset of Effective Altruists who consider it a moral obligation to do the most good possible. Call these Obligation-Oriented Effective Altruists (OOEAs), and their (...) movement Obligation-Oriented Effective Altruism (OOEA). I argue that insofar as this variety of OOEA seems to commit us to refrain from helping the people right in front of us, there is something intuitively wrong about it. In response, I introduce an alternative model that embraces partiality: Mutual Aid. Mutual Aid is a network of community members, usually from the same geographical region, who share a commitment to offer, receive, and exchange material goods, wealth, and social support. I recommend Mutual Aid as a liberatory model, which—through empathy, solidarity, and care—mobilizes community building and provides a catalyst for community advocacy. As such, we should resist the claims of OOEAs that partially distributing our funds to people or causes we care about is morally wrong or even less than ideal. We do not have a moral obligation to use our funds “effectively;” rather, we have a broader obligation to address human suffering, and Mutual Aid is one moral alternative for discharging this duty. (shrink)

Critics of private charity often claim that the well-off should instead assist the disadvantaged through political reform. The present article explores this idea with reference to effective altruism, a powerful new paradigm in the ethics of philanthropy. Effective altruism presses the relatively affluent not only to give generously, but also to subject their practical deliberations to rigorous evaluations of impartiality and cost-effectiveness. The article contends that the movement’s sophisticated methods are not sufficient to overcome the worries of institutionalist critics. At (...) the same time, it shows that a transition from assistance to advocacy faces underappreciated and serious limitations. The measurement-based methods that allow effective altruists to identify promising assistance programs do not carry over well to political reform. In addition, unleashing greater private wealth into politics may exacerbate unequal opportunities for political influence. The article closes with preliminary suggestions for overcoming these concerns and connects them to broader developments in the politics of philanthropy. (shrink)

Emotion can exert powerful influences on memory for events. The recent surge of behavioral and functional neuroimaging studies of emotional episodic memory has produced a wealth of new findings and theoretical approaches. Kensinger (2009) reviews recent studies, focusing on two key questions: what factors determine the particular aspects of an event that will be influenced by emotion, and, what is the role of valence in modulating emotional memory effects? This commentary touches on some points raised in this thought-provoking and (...) timely review and attempts to place them in a broader context. (shrink)

How much should someone contribute to trying to prevent unnecessary deaths and severe hardships? MacAskill, Mogensen, and Ord propose tithing for most of the rich (as measured by income), which has been influential in the effective altruism community. My aim in this article is to contribute, through amending their proposal, to their important project of searching for a weak or very weak principle of sacrifice that would still revise upward how much money goes to the most effective organizations. I do (...) so by presenting four objections to their argument based on demandingness, fairness, net wealth, and historical and contemporary injustices. Then, I show that a principle of progressive can overcome these objections and better fits the reasons MacAskill, Mogensen, and Ord give in favour of their principle than their proposed operationalization of tithing. (shrink)

Extant research concludes that family firms are less likely to bribe due to reputation concerns. However, such conclusions are, to a certain extent, inconsistent with the intuition and observation that some family firms can be aggressive bribers. This study employs a restricted-extended framework of socioemotional wealth model to reconcile this inconsistency. We propose family management, on the one hand, results in reputation preservation willingness; while on the other hand, results in an abuse of trust between family members and superior (...) ability to hide bribery secrets. Integrating the willingness and ability mechanisms leads to an inverted U-shaped relationship between family management and bribery. Further, family firm political connection and province-level anti-corruption investigation play moderation role on the inverted U-shaped main effect. An empirical analysis of Chinese listed firms from 2006 to 2017 supports our hypotheses. (shrink)

Household structure may have strong effects on reproduction. This study uses household demographic data for 59 women in a Caribbean village to test evolutionary hypotheses concerning variation in reproductive strategies. Father-absence during childhood, current household composition, and household economic status are predicted to influence age at first birth, number of mates, reproductive success, and pair-bond stability. Criterion variables did not associate in a manner indicative of r- and K-strategies. Father-absence in early childhood had little influence on subsequent reproduction. Household (...) class='Hi'>wealth and alloparenting were positively associated with age at first birth. Alloparenting was negatively associated with reproductive success. Women in long-term conjugal unions had higher reproductive success than did single women. Number of adult male kin resident in the household was negatively associated with women’s number of mates. (shrink)

This article is an attempt to take a philosophical approach to the powerful text of the parable of the Good Samaritan in light of the opportunities of the 21st century. The text starts with presenting variousways in which modern Christians can answer the question “who is my neighbour?” and comparing them to the typical response assumed by the effective altruism movement. On the basis of one of the interpretations, a framework is offered for determining whether the beneficiaries of help in (...) the cause areas of effective altruism can be categorized as neighbours. For this inquiry, the so-called "less demanding"interpretation is chosen since prima facie it does not seem to provide a justification for the thesis that all people fall under the category of neighbour. This article claims that due to the development of technology and research as well as due to the global increase in wealth, the less demanding interpretation of the parable of the Good Samaritan conceives of people distant in space as neighbours but not of animals and not of the unidentified people distant in time. It is argued that Christians have moral reasons and ways to support treating animals as neighbours, as well as to support cooperation for the sake of protecting future humanity, at least from the threats that are of human origin. (shrink)

The Stoic is often seen as the forerunner of Adam Smith’s market man of morals, but others have suggested that the sophist played a role in the formation of market morality and political economy. This article traces Smith’s treatment of ancient sophists and his use of the term sophistry in the Wealth of Nations. Smith praised ancient sophists for their effective didactic oratory and their ability to make money through teaching. Smith criticized arguments as sophistic when they promoted monetary (...) advantage for a few over and above the principle of competition. This varied reception of sophists and sophistry suggests a keen understanding of the rhetorical tradition and its capacity to influence the development of the discourse of political economy. Smith’s use of sophistry and reference to the sophists invites a deeper awareness of the essential vitality of effective argumentation for Smith’s “system of natural liberty. (shrink)

We combine research on business groups with the socioemotional wealth approach from family firm research to examine how family control of business group firms affects voluntary disclosure of environmental performance information. Theorizing that disclosing environmental performance information weakens the owning family’s control over its business group firm, but also generates reputational benefits, we expect family ownership and disclosure propensities to relate in a U-shaped way and, further, that this U-shape is accentuated for business group firms with a family CEO. (...) Analysis of longitudinal data on disclosure decisions of South Korean business group firms supports our theory and suggests that the effect of family control on environmental performance disclosure is neither good nor bad; instead, it depends on both the level of family ownership and whether a family CEO is in place. The finding that disclosure propensities are greatest when family control of business group firms is most extensive is provocative: it suggests that the very element that often is seen to encourage inefficiencies and fraud in business groups—family ownership combined with family leadership—can also be leveraged to foster responsible behaviors. (shrink)

It is nearly universally presumed that redistribution can be carried out effectively only at the national or even global level, because local redistribution will be negated through personal mobility: recipients will move to high-paying jurisdictions while taxpayers will move away from those jurisdictions. To avoid this situation requires redistribution to be concentrated at national and not at local levels. In contrast to this standard line of argument, we explore how redistribution might be carried out more effectively at local levels than (...) at the national level. To explain this reversal from standard analytical implications, we integrate three concepts that are not present in the standard analysis. These concepts are the Samaritan’s dilemma, co-production, and polycentricity. It is interaction among these three concepts that reverses the implications of the standard analysis of redistribution. (shrink)

The seed system is a major component of traditional management of crop genetic diversity in developing countries. Seed flows are an important part of this system. They have been poorly studied for minor Andean crops, especially those that are propagated vegetatively. We examine the seed exchanges of Oxalis tuberosa Mol., a vegetatively propagated crop capable of sexual reproduction. We studied the seed exchanges of four rural communities in Candelaria district at the international and local levels, emphasizing the spread of new (...) sexually-produced genotypes through these exchanges. Interviews with 44 farmers generated socioeconomic, agronomic, crop diversity and seed exchange information, and data on the potential incorporation of new sexually-produced genotypes in the crop germplasm. We interviewed merchants to evaluate the input and output of genetic diversity in the communities studied. Results showed a positive effect of the farmers’ wealth on the diversity cultivated and on seed exchanges. Most seed exchanges occurred at market, creating a distinction between cash and self-consumption landraces. Cash landraces were intensively exchanged; self-consumption landraces were isolated at the farmer level and prone to genetic drift and complete loss. Merchants exported seeds of cash landraces across Bolivia and into Peru and Argentina. New sexually produced genotypes are less incorporated into cash landraces than in self-consumed landraces. However, new genotypes incorporated into cash landraces are diffused faster and better, being more intensively exchanged. We propose conservation strategies that can be applied to other vegetatively propagated and minor Andean crops. (shrink)

continent. 1.4 (2011): 242—252. Introduction The following two works were produced by visual artist Jonas Staal and writer Vincent W.J. van Gerven Oei during a visit as artists in residence at The Bag Factory, Johannesburg, South Africa during the summer of 2010. Both works were produced in situ and comprised in both cases a public intervention conceived by Staal and a textual work conceived by Van Gerven Oei. It was their aim, in both cases, to produce complementary works that could (...) be read “through each other,” in which the movement of artistic construction would be imitated by textual deconstruction and vice versa. Both works deal with the way in which capital, apartheid, and monumentality are interwoven in South-African society. The Missing Link addresses a monument for democracy, erected on the premises of a private corporation running both an amusement park and the Apartheid Museum franchise. The textual intervention accompanying this public intervention investigates the limits of the inclusiveness of the anti-discrimination section in the South-African constitution, itself a monumental work of democracy. The Monument for the Distribution of Wealth deals with the history and eventual dissolution of a monumental square, commemorating the Soweto Uprising, in one of the poorest townships of Johannesburg. The history accompanying this public dismemberment of memory is equally fragmented, which is expressed by the many voices recounting uncertain and perhaps even irrelevant “facts” about the genius loci, the way in which the memorial space has actually entered into the memory of the inhabitants surrounding it. Next to their individual practices, Staal and Van Gerven Oei have worked together on a number of projects ever since 2007, including several art residencies. Their work involves an investigation of the different interfaces between art, politics, and public space in media ranging from theater and public interventions, to video installations and (co-authored) textual works. The Missing Link Missing Link (1) Missing Link (2) Missing Link (3) Intervention on the monument entitled The Seven Pillars of the Constitution , part of the Apartheid Museum in Johannesburg, South Africa. The Seven Pillars represent the constitutional values propagated in South Africa since the abolition of the apartheid regime. The monument and museum were built by the Gold Reef Resorts corporation, which is also responsible for the theme park and casino next to it. By placing the word “capitalism” on the wall surrounding the museum, the capitalist system and the constant social divisions that it implies are interpreted as sophistic continuations of apartheid politics. Through the capitalist system, apartheid is still operational within South African society. Whereas during the apartheid regime, the separation clearly ran along race divisions, in the current, “democratic” system, the same actual separation is sustained without it being an explicit element of the foundations of the country, i.e. the constitution. This intervention foregrounds the constant role of capitalism is both periods. At the same time the intervention acknowledges that contemporary Western artisthood is a mirror of the privileges that are offered by the capitalist system, and the type of artist that it produces. The intervention initiates a critical discourse concerning the capitalist system situated within the disaster of capitalism itself, in other words: through the desire to break with the presumption that art would be able to operate outside the capitalist system and to confirm that art—and the artist himself—is in fact modeled on this system. The public intervention by Staal was supplemented by a textual intervention by Van Gerven Oei: a proposition to alter the seventeenth amendment of the South African constitution. Even though the anti-discrimination legislation in South-Africa is one of the most stringent and inclusive in the world, one factor—wealth—remains outside its scope, thus continuing the schisms along racial lines produced during the apartheid regime: §9.3. The state may not unfairly discriminate directly or indirectly against anyone on one or more grounds, including race, gender, sex, pregnancy, marital status, ethnic or social origin, colour, sexual orientation, age, disability, religion, conscience, belief, culture, language, birth, and wealth. Monument for the Distribution of Wealth Intervention concerning the June 16 Memorial Acre in Central Western Jabavu, one of the poorest townships of Johannesburg. The monument comprises a park on which different are placed recalling an important protest the black population against the former apartheid regime. In 1976, from a school adjacent to the park, they started a massive protest against the introduction of Afrikaans in the school curriculum. The police reacted violently, and shot several hundreds of students. The construction of the June 16 Memorial Acre was started in 2005, and from the start was the paragon of corruption. Coordinated by local politicians, some family members of the protest leader from 1976 gained control of the realization of the monument, outside the regulation through external institutions. The available budget of 41 million rand (at that time well over 5 million euro) was largely embezzled. In the meantime, the monument has become fully dilapidated and defaced. The park has become overgrown with weeds and covered in a layer of dirt, and the local population is slowly plundering the square to use the material for the construction and decoration of their own houses. The Monument for the Distribution of Wealth develops the dynamics already existent around the June 16 Memorial Acre. Without obtaining official permission in advance, several local inhabitants were hired to break down the monument, sort the materials, and offer it to the neighborhood. Thus, the redistribution of wealth after the fall of the apartheid regime is finally taking place, albeit from the mere remains of the capital that was once invested in the community. The words “monument” and “for free” are spray-painted on the stacks of material, both in English and Zulu, as these are locally the most common languages. Van Gerven Oei supplemented Staal’s public intervention with an account of the history of the monument based on a series of interviews. The account clarifies how the different interests within the protest 1976 are reflected in the exceeding decay of the park, and how in the end those interests were represented by the June 16 Memorial Acre. Monument for the Distribution of Wealth 1: Removing stones Monument for the Distribution of Wealth 3: Pulling down statues Monument for the Distribution of Wealth 4: Offering the material Monument for the Distribution of Wealth 5: Offering the material Monument for the Distribution of Wealth 6 The next day A Fragmentary History of the Monument for the Distribution of Wealth, Formerly Known as the June 16 Memorial Acre in Central Western Jabavu, Soweto Vincent W.J. van Gerven Oei The following text, based on interviews and online research aims to provide parts of a history of the park in front of Morris Isaacson High School in Central Western Jabavu, Soweto. The idea for the transformation of the park into a memorial site has its source in the events of June 16, 1976: the start of the the student uprising in Soweto. The development of the park was started in the early 1980s, and the actual transformation into a memorial site, the June 16 Memorial Acre, was initiated in 2005. Over the last few years, several monumental additions have been made to the park: A marble monument with three pillars was revealed on June 16, 2006. A sculpture of a book and several billboards on June 16, 2008. A sculpture of student leader Tsietsi Mashinini on June 16, 2010. The park was transformed into the Monument for the Distribution of Wealth on August 3, 2010. According to the entry “Youth Struggle” on the website South African History Online, the Bantu Education Act was introduced in 1953 . In 1954 , Dr Verwoerd, Minister of Native Affairs, stated: “What is the use of teaching the Bantu child mathematics when it cannot use it in practice? That is quite absurd.” According to the entry “Soweto uprising” on Wikipedia, the Afrikaans Medium Decree was issued in 1974 , forcing all black schools to use Afrikaans and English in a 50-50 mix as languages of instruction. The Regional Director of Bantu Education (Northern Transvaal Region), J.G. Erasmus, told Circuit Inspectors and Principals of Schools that from January 1, 1975 , Afrikaans had to be used for mathematics, arithmetic, and social studies from standard five (7th grade). English would be the medium for general science and practical subjects. Indigenous languages would be used for religion instruction, music, and physical culture. According the entry “Soweto uprising” on Wikipedia, on April 30, 1976 , students from the Orlando West Junior School in Soweto went on strike, refusing to go to school. Their example was followed by other schools in Soweto. A student from Morris Isaacson High School, Toboho “Tsietsi” Mashinini, proposed a meeting on June 13, 1976 to discuss further action. According to Weizmann Hamilton’s article “The Soweto Uprising 1976,” which appeared in the September 1986 edition of Inqaba Ya Basebenzi (Fortress of the Revolution), on June 13, 1976 , the South African Students’ Movement called a meeting at the Donaldson Community Center in Orlando. 300-400 Students representing 55 schools decided to hold a mass demonstration on June 16. According to Brian Mokhele, member of the Joint Community Safety Forum, Dr Edelstein was the first victim of the Soweto uprising and killed the day before the march on June 15, 1976 . Edelstein was an administrator at the pass office in Jabavu and gave golf courses to the local community. Edelstein was put in a garbage bin and pierced by pickaxes. The garbage bin was left at the very spot of the murder for many years. A few years ago, a child was beheaded at the same spot, and the basketball court next to it has been abandoned since. According to Marcus Neustetter, founder of the Trinity Session, this story is untrue. According the entry “Soweto uprising” on Wikipedia, on June 16 , Tsietsi Mashinini led students from Morris Isaacson High School to join up with others who walked from Naledi High School. A crowd of between 3,000 and 10,000 eventually ended up near Orlando High School. According to Raymond Marlowe, a local photographer, Tsietsi Mashinini was heading the march. According to the entry “Hector Pieterson” on Wikipedia, Dr Edelstein died on June 16, 1976 , stoned to death by mob and left with a sign around his neck proclaiming “Beware Afrikaaners.” The first child to die that day was called Hastings Ndlovu. According to Pat Motsiri, Orlando West is claiming struggle heritage through the Hector Pieterson Museum, while Hector Pieterson was from Jabavu. According to Pat Motsiri, his generation effectively struggled between 1980 and 1991, forcing the release of Nelson Mandela and negotiations with the apartheid regime while the 1976-generation was safely in exile. Nevertheless, this has not been recognized in any monument. After the abolition of apartheid, the generation from 1976 returned from exile, occupied important government and ANC positions, creating an abundance of 1976 memorials and refusing to acknowledge that this was only possible because of the younger generation’s struggle. He calls this a generational conflict. According to Archibald Dlamini, the park officer responsible for the Memorial Acre, he started working for the municipality in 1978. In 1981/82 , Isaac Makhele from Pimville, who used to work in the cemetery business, was the first developer of the park. It used to be just a normal park until City Parks decided to develop the Memorial Acre in 2006. In 2007 the work was stopped by the community. According to Brian Mokhele, he left the country in 1989 after he participated in the riots of 1986. But when he returned in 1999 he found that nothing had changed. He says that they were promised to be protected by the Constitution, but that reality is different. The police uses fear to suppress them so that they don’t come out to talk openly. He has been arrested twice, both times harassed and tortured by the police, but in the end always released without indictment. He says that this is their way to threaten communities to back off from politics. According to Moses, who is sitting outside rolling a joint, Brian knows everything. He tells Brian to tell me everything he knows. According to Brian Mokhele, Tsietsi Mashinini was possibly murdered in 1990 during his exile in New York. Two weeks before he was supposed to return to South Africa, his papers in order, he was found dead under mysterious circumstances. His coffin was sealed when he was buried. According to Pat Motsiri, he came up with the idea for the Memorial Acre in 2003 . He submitted the documents for the proposal to the council, which sidelined him as soon as the budget came out in 2005 . According to Brian Mokhele, there was on estimation R 41,000,000 spent to redesign the park and turn it into the Memorial Acre. The millions were divided by Amos Masondo, the mayor of Soweto, the local councilor Bongani D. Zondi, and the director of the city of Johannesburg, Pat Lephunya. They were dividing the money between several contractors: Tsietsi Mashinini’s brothers were involved in the development of the park, they got the tender to do the green areas, the landscaping. Construction was done by other companies, some did the paving, the toilets, etc. EMBA, a private company appointed by the municipality was in control of the money flow, but the money was quickly gone. According to Raymond Marlowe, the contractor bought a BMW with the money. According to Archibald Dlamini, the Mashinini brothers got the tender, so the space would look more like the other places around in Soweto. It was agreed that after they were done, they would return the property to the municipality. They did whatever they could do. According to Mafaisa, a member of the Jabavu business community, he was one of the contractors for the landscaping and the pavement under Mpho Mashinini, one of the brothers. He says that I should contact Mavi for information on Mpho. According to Poi Stuurman, a local youth worker, Mafaisa is one of the guys who ran away with the money. According to Mavi, Mpho Mashinini was never a contractor. The contracts were organized by Sbu Butelezi, the former head of the Gauteng Department for Public Works. The June 16 Foundation and the Mashinini brothers will be the beneficiaries of the park when it is finished. According to Brian Mokhele, City Parks did not accept the Memorial Acre because it was not finished. The rest of the year, the unfinished park is not maintained, as should have happened. This was done deliberately so that in the end they can just clean the whole thing up and have a reason to redo the whole park. According to Brian Mokhele, the Mashinini brothers now work for the government. People that manipulate for money purposes always come from the government’s side. Because the park was left unfinished, the people from the neighborhood are taking away the stones to decorate their own homes with. According to Archibald Dlamini, because City Parks doesn’t accept responsibility of the park, he officially has nothing the guard, except for his cottage, which is municipal property. The thieves come at night and destroy the park, but he cannot do anything because he is sleeping. According to the website of the Thanda Foundation on June 16, 2006 a bronze statue of Hector Pieterson, the first child to die in the 1976 protests, made by Kobus Hattingh and Jacob Maponyane was unveiled in the Maponya Mall in Soweto. The statue is sculpted after the famous image shot by Sam Nzima of Mbuyisa Makhubo carrying the dead body of the boy. The sculpture was sponsored by the Thanda Foundation, founded by the Swedish entrepreneur Dan Olofsson and South-African entrepreneur Matthews Phosa. According to the official website of the City of Johannesburg, the Memorial Acre and Artwork were unveiled in 2006. According to a blog post on sowetouprisings.com, the Memorial Acre was still under development on July 24, 2006. According to Archibald Dlamini, City Parks only cleans up the park once a year just before the June 16 celebrations. Everybody is waiting for the Mashinini brothers to finish their job. The last time he talked with them was in 2007 . According to a sign on the school grounds of the Morris Isaacson High School, the June 16 Trail will be finished in 2008 . According to a blog post on sowetouprisings.com, the Memorial Acre contains another monument erected in Tsietsi’s honor. The monument was created as part of the Sunday Times Heritage Public Art program. Its physical form resembles a giant book which symbolizes the crisis in education experienced in 1976. On the face of the book is the map of the route taken by the students from Morris Isaacson High School in Central Western Jabavu to Phefeni Junior Secondary in Orlando West (currently the site of the Hector Pieterson Museum), while the back cover of the ‘book’ is inscribed with a tribute to Tsietsi Mashinini. The monument was revealed on June 16, 2008 . According to Marcus Neustetter, the billboards on the Memorial Acre were part of a school project realized in 2008. Following several workshops, the students from different high schools along the June 16 Trail were invited to work with artists on the billboards, while the neighborhood community was invited to watch the process during the festivities on June 15 and 16, 2008 . The billboards were supposed to be removed because of construction works on the Memorial Acre, which never ended up happening. According to Brian Mokhele, the former toilet facilities were converted into a house for the park officer. This park officer has been working for city parks for more than 12-15 years, but does nothing here, because the park, including the new toilet buildings, is not finished. The government is now moving around looking for people to take this job because they stopped it. They confronted everybody who was going in and chased them away. According to John, in 2009 , some girls, around 16 or 17 years old, were raped by four men who had been drinking in a local shebeen. When the bar quit they said that they would go home by car, but instead raped the girls on the Memorial Acre nearby. This happened in the unfinished toilets, because the doors couldn’t be closed. According to Brian Mokhele, there used to be some fences around the park because of the construction work that was eventually stopped, but these were also stolen. According to Archibald Dlamini, people from the neighborhood started about two and a half years ago, and the last piece was stolen near the end of 2009 . Sometimes he would catch someone with a roll of fence, and then use it for his own cottage. According to the official website of the City of Johannesburg, a statue of Tsietsi Mashinini by Johannes Pokhela was revealed on June 16, 2010 , “Youth Day.” According to Shirley Makutoane, deputy principal of Isaac Morrison High School, the statue of Tsietsi Mashinini, funded by the June 16 Foundation, has temporarily been placed within the school perimeter. The statue will be moved to the Memorial Acre when it will be finished, in 2011 . According to Brian Mokhele, beside the June 16 Foundation, there is also a June 16 Memorial Acre Foundation. Both foundations are quarreling about the money involved in the Memorial Acre project. Nobody knows who’s involved in them. According to Marcus Neustetter, the June 16 Foundation consists of people that were part of 1976 protest movement, local government officials, representatives of the Hector Pieterson Museum, and the council. According to students from the Isaac Morrison High School, the statue of Tsietsi Mashinini is on the school ground because on the Memorial Acre it would be vandalized by youths from White City, an adjacent neighborhood. Accorcing to Brian Mokhele, the statue of Tsietsi should eventually be mounted on the Memorial Acre. It is wrong that the statue is in the school at the moment, because it is not a public school. He wants the statues to depict the massiveness of the force that was coming into Soweto after the protests. According to Brian Mokhele, City Parks, City of Jo’burg, City Lights, and SAPS are making some sort of plan to take the plan back. They want to remove the trees from the Memorial Acre, and redesign the Memorial Acre into a relaxing park, without political content. They want to depoliticize the square. In doing so,they will have their own employment and not use local workforces. According to Brian Mokhele, the community wants to remove the monuments, amphitheater, and sculptures from the Memorial Acre because they do not resemble anything. The sculptures should be depicting the truth of what happened, because the Memorial Acre is a political heritage site. He wants to involve the people that actually participated in the struggle to make the monument so that everyone can enjoy it and get a better understanding of the struggle heritage. Therefore, he proposes collective ideology in which everyone has a say. This would prevent future vandalization of the monument. According to Pat Motsiri, the sculptures must depict the event around June 16, 1976. Like the story of Dr Edelstein, who was pierced by pickaxes, forced into a garbage bin and burned alive. According to Jonas Staal, the Memorial Acre should be destroyed, its elements stacked on pallets, thus forming the Monument for the Distribution of Wealth . According to Mafaisa, his men can do the work quickly. He has about twenty men working under him. (shrink)

The target article's climato-economic theory will benefit by allowing for bidirectional effects and the heterogeneity of types of freedom, in order to more fully capture the coevolution of societal wealth and freedom. We also suggest alternative methods of testing climato-economic theory, such as longitudinal analyses of these countries' histories and micro-level experiments of each of the theory's hypotheses.

This article explores the philosophical foundations of Adam Smith's concept of authority, focusing on its connections to ‘admiration' and the ‘love of systems'. Its primary objective is to analyse how Smith integrates moral, epistemological, and aesthetic principles into his political philosophy to explain the subordination conferred by wealth, which he identifies as the most effective form of authority. Drawing on the Wealth of Nations, Lectures on Jurisprudence, and Theory of Moral Sentiments, the article argues that Smith sees authority (...) as rooted in human tendencies to admire systems that harmonize and explain phenomena while evoking beauty and coherence. Furthermore, this admiration includes social and political arrangements. As a result, political systems that ‘promote happiness’ are admired for their practical benefits and their ability to evoke a sense of beauty: like finely crafted machines, they inspire admiration through their elegance and order. (shrink)

Previous studies suggested that culture have impact on students' mathematics achievement and subjective wellbeing, but few investigated the effects of culture on the balance between them. Drawing on Hofstede's cultural dimensions theory, this study investigated the effects of culture on balance between students' mathematics achievement and subjective wellbeing. Results showed the significant effects of cultural dimensions of long-term orientation vs. short-term orientation and indulgence vs. restraint. Students from countries of high long-term orientation and low indulgence culture were more likely to (...) get both high mathematics achievement and high SWB. Besides, wealth-related variables and gender were also found to influence the odds ratio of balance. The findings confirmed the effects of national culture on the balance between mathematics achievement and SWB. Based on the findings, this study discussed the effects of long-term orientation and restraint culture and Confucian heritage culture's potential benefit. The results indicate that mathematics educators should consider cultural differences in educational practice and stress the importance and meaning of mathematics learning. (shrink)

Driven by economic and social benefits, social enterprises create new development models that combine wealth creation, social welfare provision, and environmental improvement through innovative approaches. The social entrepreneurship orientation reflects the behavioral tendency to transplant entrepreneurship orientation into the field of social value creation. It is a strategy to balance and integrate economic interests and social interests, which has a significant impact on social entrepreneurship performance. The purpose of this study is to explore the internal mechanism of the impact (...) of social entrepreneurs’ mindfulness upbringing perception on social entrepreneur orientation. To reveal the internal mechanism, we propose a moderated and mediation model of prosocial motivation and perceived pressure from external stakeholders. In this study, random sampling was conducted among social start-ups in China. In order to improve the accuracy of the scale, a pre-survey was conducted before the formal survey. The data analysis results of the pre-survey showed that the scale in this study was suitable for the Chinese context and had good external validity. Through using survey data from social entrepreneurs in China, hierarchical regression analysis and bootstrapping model are adapted to test and verify mediation and moderation effects. The results show that mindfulness upbringing perception indeed positively influences social entrepreneurship orientation directly and partly through the mediating effect of prosocial motivation. Moreover, findings suggest the perceived pressure from external stakeholders negatively moderates not only the relationship between prosocial motivation and social entrepreneurship orientation but also the overall mediation model. This indicates that social entrepreneurs with low perceived pressure from external stakeholders will improve their social entrepreneurship orientation rapidly when their prosocial level is high. Based on these findings, we conclude that social entrepreneurship orientation may be achieved more effectively through the complex process of mindfulness upbringing perception, prosocial motivation, and perceived pressure from external stakeholders. Finally, the study proposes the theoretical and practical implications and suggestions for follow-up research. (shrink)

This paper addresses the impact of the unethical business conduct of a few individuals that shook the financial market in 1986. Specifically, in the study undertaken for this paper, the wealth status of the shareholders of securities firms was examined in relation to the public disclosure of the insider-trading scandals involving Dennis Levine, Ivan Boesky, and their confederates. It was hypothesized that the expected market-adjusted stock returns for the securities firms would be negative as a result of the scandals. (...) The findings of the study supported the hypothesis. (shrink)