{"title":"Debt as a US defence spending consideration since the end of World War II. Part One: Truman to Johnson","authors":"David Tier","doi":"10.1111/ecaf.70003","DOIUrl":"https://doi.org/10.1111/ecaf.70003","url":null,"abstract":"<p>US presidents have explicitly addressed trade-offs between adequate military budgets and accruing national debt. Presidents have deliberately considered reductions to defence spending as part of a plan to shrink deficits, but they have also found there is a level of defence spending beneath which they dare not fall. This study reports the results of an examination of primary source documents, speeches, and other records seeking to determine the extent to which presidential administrations considered fiscal balances when making defence spending decisions. Part One addresses the administrations of Presidents Truman through Johnson. Part Two covers Presidents Nixon through Biden. These results inform debates over the US national debt, deficit spending, and the mixtures of spending cuts and revenue increases which are practical to achieve a balanced budget.</p>","PeriodicalId":44825,"journal":{"name":"ECONOMIC AFFAIRS","volume":"45 3","pages":"368-394"},"PeriodicalIF":1.8,"publicationDate":"2025-10-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145327727","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"China's 2024 economic stimulus","authors":"Kerry Liu","doi":"10.1111/ecaf.70009","DOIUrl":"https://doi.org/10.1111/ecaf.70009","url":null,"abstract":"<p>This study reviews China's largest post-COVID economic stimulus, launched in September–October 2024, examining its background, policy contents, early effects, and broader implications. Specifically, triggered by worsening economic conditions, the package aimed to stabilise stock and real estate markets, support consumption, and ease local financial stress while continuing strategic hi-tech development. By March 2025, results were mixed – weak demand persisted, but favoured sectors showed gains. This episode illustrates China's balancing act between short-term fixes and long-term ambitions, development and security, and reflects growing state intervention in the economy. It offers insights for understanding China's evolving policy logic and navigating debates on its future trajectory, including the ‘Peak China’ discourse.</p>","PeriodicalId":44825,"journal":{"name":"ECONOMIC AFFAIRS","volume":"45 3","pages":"440-460"},"PeriodicalIF":1.8,"publicationDate":"2025-10-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145327800","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"An economic evaluation of renewable energy development in Russia's Arctic region","authors":"Oleg Dubinskii","doi":"10.1111/ecaf.70008","DOIUrl":"https://doi.org/10.1111/ecaf.70008","url":null,"abstract":"<p>This study examines the anticipated socio-ecological and economic impacts of a mechanism to promote renewable energy development in Russia. The proposed mechanism supports the government's objective of increasing renewable energy share to 2.5 per cent of total energy production and consumption in the wholesale electricity and capacity market by 2030. A quantitative analysis of these effects within Russia's Arctic zone indicates an estimated impact valued at RUB 11.34 billion in 2030. The findings highlight the potential for renewable energy to contribute significantly to the sustainable development of regions with harsh environmental conditions, by reducing carbon emissions and diversifying energy sources. The study also underscores the importance of targeted policies and financial incentives for renewable energy development. The research provides important insights for stakeholders and policymakers aiming to balance economic growth with environmental sustainability. It also identifies specific policy recommendations for fostering a robust and sustainable renewable energy sector in Russia's Arctic Zone.</p>","PeriodicalId":44825,"journal":{"name":"ECONOMIC AFFAIRS","volume":"45 3","pages":"522-544"},"PeriodicalIF":1.8,"publicationDate":"2025-10-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145327804","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Beyond David Graeber: How state intervention creates ‘bullshit jobs’","authors":"Alexis Sémanne","doi":"10.1111/ecaf.70013","DOIUrl":"https://doi.org/10.1111/ecaf.70013","url":null,"abstract":"<p>David Graeber describes the malaise of ‘bullshit jobs’ but misattributes their cause to capitalism. I offer a different account: a bullshit job is usually one that would not survive without regulation, subsidy, or legal privilege. Such roles proliferate through state-driven mechanisms: (1) regulatory inflation that converts productive effort into compliance; (2) distorted economic calculation when prices and profit-and-loss signals are muted; (3) the rise of symbolic labour; and (4) monetary interventions that pull talent into administrative and speculative niches. I distinguish perceived alienation from economic value, advance testable cross-country predictions, sketch an empirical agenda, and propose reforms (legal simplification, deregulation) to reduce meaningless work.</p>","PeriodicalId":44825,"journal":{"name":"ECONOMIC AFFAIRS","volume":"45 3","pages":"395-416"},"PeriodicalIF":1.8,"publicationDate":"2025-10-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/ecaf.70013","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145327789","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
ECONOMIC AFFAIRSPub Date : 2025-06-25DOI: 10.46852/0424-2513.2.2025.9
K. Manobharathi
{"title":"A Study on Personal Profile and Organizational Facilitation of Agricultural Extension Functionaries for Information Dissemination in Kashmir Valley","authors":"K. Manobharathi","doi":"10.46852/0424-2513.2.2025.9","DOIUrl":"https://doi.org/10.46852/0424-2513.2.2025.9","url":null,"abstract":"\"State department of Agriculture in every state is running with objectives of technology transfer, providing training services, updating farmers with new technologies and giving solutions to problem of farmers. The present study regarding the personal profile of the Agricultural Extension Functionaries (AEFs) and assessing the organizational facilitation of AEFs for dissemination of information was carried out in three purposively selected Sub-Divisional Agricultural Offices namely Baramulla, Sopore and Rohama in district Baramulla of Jammu & Kashmir. Among the Sub-Divisional Extension functionaries, all Subject Matter Specialists (SMS’s), Agricultural Extension Officers (AEO’s), Agricultural Assistants Inputs (AAI’s), Junior Agricultural Extension Officers (JAEO’s) and Agricultural Extension Assistants (AEA’s) were taken for collecting the primary data with the help of a well-structured interview schedule. The study indicated that majority (51.80 %) of the Agricultural Extension Functionaries (AEFs) belonged to the age group of 36 to 43 years, 74.82 per cent of the AEFs were Agricultural Extension Assistants (AEAs), 83.45 per cent of the AEFs were male, 57.55 per cent of the AEFs were Post graduates, 100 per cent of the AEFs were married, 68.35 per cent of the AEFs belonged to joint family type, 51.8 per cent of the AEFs belonged to medium family size (6-10 members), 41.73 per cent of the AEFs belonged to rural family background, 48.92 per cent of the AEFs preferred public transport, 79.86 per cent of the AEFs belonged to job experience category of 2-13 years and 74.82 per cent of the AEFs belonged to income category of ` 35400 - ` 112400. Under overall organizational facilitation, majority (56.84 %) of the Agricultural Extension Functionaries (AEFs) were having medium level of organizational facilitation.\"","PeriodicalId":44825,"journal":{"name":"ECONOMIC AFFAIRS","volume":"70 2","pages":""},"PeriodicalIF":0.0,"publicationDate":"2025-06-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://doi.org/10.46852/0424-2513.2.2025.9","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"147904379","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"The entrepreneurial scholar: A new mindset for academia and beyond By Ilana M Horwitz. Princeton University Press. 2025. pp. 208. £84.00 (hbk). ISBN: 978-0691240886. £16.99 (pbk). ISBN: 978-0691240893. £16.99 (ebk). ISBN: 978-0691240909","authors":"Graham Jones","doi":"10.1111/ecaf.12716","DOIUrl":"https://doi.org/10.1111/ecaf.12716","url":null,"abstract":"","PeriodicalId":44825,"journal":{"name":"ECONOMIC AFFAIRS","volume":"45 2","pages":"358-360"},"PeriodicalIF":1.0,"publicationDate":"2025-06-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144244273","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Libertarian literary and media criticism: Essays in memory of Paul A. Cantor Edited by Jo Ann Cavallo. Palgrave Macmillan. 2025. pp. 317. £139.99 (hbk). ISBN: 978-3031810015. £111.60 (Kindle ed). ISBN: 978-3031810022","authors":"Thomas Baumert","doi":"10.1111/ecaf.12715","DOIUrl":"https://doi.org/10.1111/ecaf.12715","url":null,"abstract":"","PeriodicalId":44825,"journal":{"name":"ECONOMIC AFFAIRS","volume":"45 2","pages":"363-365"},"PeriodicalIF":1.0,"publicationDate":"2025-06-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144244820","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Sociology and classical liberalism in dialogue: Freedom is something we do together. Edited by Fabio Rojas and Charlotta Stern. Lexington Books. 2024. pp. 236. £85.00 (hbk). ISBN: 978-1666961331. £35.00 (ebk). ISBN: 978-1666961348","authors":"Megi Cara","doi":"10.1111/ecaf.12713","DOIUrl":"https://doi.org/10.1111/ecaf.12713","url":null,"abstract":"","PeriodicalId":44825,"journal":{"name":"ECONOMIC AFFAIRS","volume":"45 2","pages":"353-355"},"PeriodicalIF":1.0,"publicationDate":"2025-06-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144244964","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"By Matt Goodwin. Bad education: Why our universities are broken and how we can fix them. Bantam. 2025. pp. 245. £20.00 (hbk). ISBN: 978-1787635241. £10.99 (pbk). ISBN: 978-0552178549. £8.99 (ebk). ISBN: 978-1473595408.","authors":"J R Shackleton","doi":"10.1111/ecaf.12712","DOIUrl":"https://doi.org/10.1111/ecaf.12712","url":null,"abstract":"","PeriodicalId":44825,"journal":{"name":"ECONOMIC AFFAIRS","volume":"45 2","pages":"361-362"},"PeriodicalIF":1.0,"publicationDate":"2025-06-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144244274","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}