{"title":"The individualists: Radicals, reactionaries and the struggle for the soul of libertarianism By Matt Zwolinski and John Tomasi. Princeton University Press. 2023. 416 pp. £30 (hbk). ISBN: 978-0691155548. £21.00 (ebk). ISBN: 978-0691241043","authors":"Charles Amos","doi":"10.1111/ecaf.12617","DOIUrl":"https://doi.org/10.1111/ecaf.12617","url":null,"abstract":"","PeriodicalId":44825,"journal":{"name":"ECONOMIC AFFAIRS","volume":"44 1","pages":"188-191"},"PeriodicalIF":1.4,"publicationDate":"2024-03-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140053109","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":"Reassessing the Bengal Famine of 1943","authors":"Hira Jungkow, Herbert Anderson","doi":"10.1111/ecaf.12619","DOIUrl":"https://doi.org/10.1111/ecaf.12619","url":null,"abstract":"<p>The Bengal famine of 1943 has received significant attention from academia, politicians and the public. This is the result both of its considerable death toll and the range of factors held responsible, including politicians. However, despite the quantity of discussion and controversy that it has generated, three areas have thus far been insufficiently addressed: the results of the Bengal Food Drive, the geographic link between famine and the ‘denial policy’, and the economic Balkanisation of India. This article addresses these areas to draw a more rounded conclusion on the debate around the famine.</p>","PeriodicalId":44825,"journal":{"name":"ECONOMIC AFFAIRS","volume":"44 1","pages":"31-56"},"PeriodicalIF":1.4,"publicationDate":"2024-03-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140053158","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":"The political economy of fiscal dominance: Evidence from the Chilean government of Salvador Allende","authors":"Víctor I Espinosa, David O Cueva","doi":"10.1111/ecaf.12618","DOIUrl":"https://doi.org/10.1111/ecaf.12618","url":null,"abstract":"<p>This article examines the political economy of fiscal dominance during the Chilean government (1970–73) of Salvador Allende. Fiscal dominance appears when the monetary authority complies with the fiscal authority's demand to buy treasury bonds and monetise the deficit. It is argued that persistent fiscal dominance is inflationary, especially without robust fiscal and monetary rules. The Allende government financed the deficit with present taxes, debt (future taxes) and monetary issuance (inflation tax), causing the crowding-out effect and, together with other policies such as expropriation and price controls, collapsed the demand for money, triggering hyperinflation. The lessons of Chile clarify the fiscal trigger of the inflation, stagnation, and widespread poverty that has affected Latin American countries in recent decades.</p>","PeriodicalId":44825,"journal":{"name":"ECONOMIC AFFAIRS","volume":"44 1","pages":"118-138"},"PeriodicalIF":1.4,"publicationDate":"2024-03-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140053044","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}
Hazwan Haini, Pang Wei Loon, Lawal Olamilekan Abdulwahab, Wafid Sophian
{"title":"Did government support delay bankruptcy during the pandemic?","authors":"Hazwan Haini, Pang Wei Loon, Lawal Olamilekan Abdulwahab, Wafid Sophian","doi":"10.1111/ecaf.12610","DOIUrl":"https://doi.org/10.1111/ecaf.12610","url":null,"abstract":"<p>The literature reports mixed findings on the role of government intervention, even during times of crisis. The recent Covid-19 pandemic damaged the financial health of many small firms. This study examines whether government subsidies are associated with bankruptcy rates for firms with deteriorating financial health. Using a sample of 18,422 firms from 44 countries, we estimate a logistic model that accounts for rare events. Results indicate that those firms which receive government support are more likely to be associated with insolvency, even in the absence of liquidity issues and overdue financial obligations. Policy implications are discussed.</p>","PeriodicalId":44825,"journal":{"name":"ECONOMIC AFFAIRS","volume":"44 1","pages":"17-30"},"PeriodicalIF":1.4,"publicationDate":"2024-03-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140053045","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":"The capitalist manifesto: Why the global free market will save the world By Johan Norberg. Atlantic Books. 2023. 352 pp. £20.00 (hbk). ISBN: 978-1838957896. £9.99 (ebk). ISBN: 978-838957919","authors":"Michael James","doi":"10.1111/ecaf.12612","DOIUrl":"https://doi.org/10.1111/ecaf.12612","url":null,"abstract":"","PeriodicalId":44825,"journal":{"name":"ECONOMIC AFFAIRS","volume":"44 1","pages":"185-187"},"PeriodicalIF":1.4,"publicationDate":"2024-03-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140053108","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":"The women who made modern economics By Rachel Reeves. Basic Books. 2023. 288 pp. £20.00 (hbk). ISBN: 978-1399807449. £20.00 (ebk). ISBN: 978-1399807470","authors":"Annabel Denham","doi":"10.1111/ecaf.12628","DOIUrl":"https://doi.org/10.1111/ecaf.12628","url":null,"abstract":"","PeriodicalId":44825,"journal":{"name":"ECONOMIC AFFAIRS","volume":"44 1","pages":"199-200"},"PeriodicalIF":1.4,"publicationDate":"2024-03-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140053036","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":"Faith in markets: Christian capitalism in the early American republic By Joseph P Slaughter. Columbia University Press. 2023. 400 pp. £117.00 (hbk). ISBN: 978-0231191104. £30.00 (pbk). ISBN: 978-0231191111. £30.00 (ebk). ISBN: 978-0231549257","authors":"Benedikt Koehler","doi":"10.1111/ecaf.12616","DOIUrl":"https://doi.org/10.1111/ecaf.12616","url":null,"abstract":"","PeriodicalId":44825,"journal":{"name":"ECONOMIC AFFAIRS","volume":"44 1","pages":"192-193"},"PeriodicalIF":1.4,"publicationDate":"2024-03-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140053110","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":"Reassessing climate disclosure demands: An examination of stakeholder perspectives beyond institutional investors","authors":"Emre Kuvvet","doi":"10.1111/ecaf.12615","DOIUrl":"https://doi.org/10.1111/ecaf.12615","url":null,"abstract":"<p>This article examines support for mandatory climate impact disclosures beyond institutional investors and investigates societal backing for such disclosures. Analysing public comments on the Securities and Exchange Commission's proposed climate disclosure mandate, the study reveals varying levels of support across demographics, ideologies, and industries. Notably, younger individuals, affluent individuals, females, urban residents, minorities, college graduates, Democrats, environmental activists, and certain regions overwhelmingly endorse the rule. Conversely, opposition is pronounced among high-school graduates, rural populations, small business owners, agricultural and energy sector employees, publicly traded companies, and residents of the South and Midwest. While the SEC cites institutional initiatives and surveys to justify the demand for climate disclosures, this article highlights a potential oversight of other stakeholders' perspectives. It is unclear that mandatory disclosure is necessary when a company's business is not at material financial risk from climate change.</p>","PeriodicalId":44825,"journal":{"name":"ECONOMIC AFFAIRS","volume":"44 1","pages":"95-117"},"PeriodicalIF":1.4,"publicationDate":"2024-03-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140053043","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}