Economic cycles are driven by financial flows, namely quantities of savings and credits, and not by high street inflation or interest rates. Their sweeping destructive powers are expressed through Global Liquidity, a $130 trillion pool of footloose cash. Global Liquidity describes the gross flows of credit and international capital feeding through the world's banking systems and wholesale money markets. The huge jump in the volume of international financial markets since the mid-1980s has been boosted by deregulation, innovation and easy money, with financial globalisation now surpassing the peaks of integration reached before the First World War. Global Liquidity drives these markets: it is often determinant, frequently disruptive and always fast-moving. Barely one fifth of Wall Street's huge gains over recent decades have come from earnings: rising liquidity and investors' appetite for riskier financial assets have propelled stock prices higher. Similar experiences are shared worldwide and even in emerging markets, such as India, flat earnings have not deterred waves of foreign money and domestic mutual funds from driving-up stock prices. Now with central banks actively pursuing quantitative easing policies, industrial corporations flush with cash and rising wealth levels among emerging market investors, the liquidity theory of investment has never been more important.International spill-overs of these rapacious cross-border flows sets off capital wars and exposes the unattractive face of liquidity called `risk.' As the world grows bigger, it becomes ever more volatile. From the early 1960s onwards, the world economy and its financial markets have suffered from three broad types of shocks - labour costs, oil and commodities, and global liquidity. Financial markets spin on fragile axes and the absence of liquidity often provides a warning of upcoming troubles. Global Liquidity is a much-discussed, but narrowly-researchedand vaguely-defined topic. This book deeply explores the subject by clearly defining and measuring liquidity worldwide and by showing its importance for investors. The roles of central banks, shadow banking, the rise of Repo and growth of wholesale money are discussed. Additionally, covering the latest developments in China's increasingly dominant financial economy, this book will appeal to practitioners, policy-makers, economists and academics, as well as those with a general interest in how financial markets work.
This book explores why the concept of wild pedagogy is an essential aspect of education in these times; a re-negotiated education that acknowledges the necessity of listening to voices in a more than human world, and (re)learning how to dwell in a place. As the geological epoch inexorably shifts to the Anthropocene, the authors argue that learning to live in and engage with the world is increasingly crucial in such times of uncertainty. The editors and contributors examine what wild pedagogy can truly become, and how it can be relevant across disciplinary boundaries: offering six touchstones as working tools to help educators forge an onward path. This collaborative work will be of interest to students and scholars of wild pedagogies, alternative education and the Anthropocene, and for all those engaged in re-wilding education.
This book explores the journey that Kenya has travelled as a nation since its independence on December 12, 1963. It seeks to advance understanding of the country's major milestones in the postcolonial period, the challenges and the lessons that can be learned from this experience, and the future prospects.
The Palgrave Handbook of Disability and Communication covers a broad spectrum of topics related to how we perceive and understand disability and the language, constructs, constraints and communication behavior that shape disability discourse within society. The essays and original research presented in this volume address important matters of disability identity and intersectionality, broader cultural narratives and representation, institutional constructs and constraints, and points related to disability justice, advocacy, and public policy. In doing so, this book brings together a diverse group of over 40 international scholars to address timely problems and to promote disability justice by interrogating the way people communicate not only to people with disabilities, but also how we communicate about disability, and how people express themselves through their disabled identity.
This book delves into the limitations of Singapore's authoritarian governance model. In doing so, the relevance of the Singapore governance model for other industrialising economies is systematically examined. Research in this book examines the challenges for an integrated governance model that has proven durable over four to five decades. The editors argue that established socio-political and economic formulae are now facing unprecedented challenges. Structural pressures associated with Singapore's particular locus within globalised capitalism have fostered heightened social and material inequalities, compounded by the ruling party's ideological resistance to substantive redistribution. As `growth with equity' becomes more elusive, the rationale for power by a ruling party dominated by technocratic elite and state institutions crafted and controlled by the ruling party and its bureaucratic allies is open to more critical scrutiny.
Indices, index funds and ETFs are grossly inaccurate and inefficient and affect more than EUR120 trillion worth of securities, debts and commodities worldwide. This book analyzes the mathematical/statistical biases, misrepresentations, recursiveness, nonlinear risk and homomorphisms inherent in equity, debt, risk-adjusted, options-based, CDS and commodity indices - and by extension, associated index funds and ETFs. The book characterizes the "Popular-Index Ecosystems," a phenomenon that provides artificial price-support for financial instruments, and can cause systemic risk, financial instability, earnings management and inflation. The book explains why indices and strategic alliances invalidate Third-Generation Prospect Theory (PT3), related approaches and most theories of Intertemporal Asset Pricing. This book introduces three new decision models, and some new types of indices that are more efficient than existing stock/bond indices. The book explains why the Mean-Variance framework, the Put-Call Parity theorem, ICAPM/CAPM, the Sharpe Ratio, Treynor Ratio, Jensen's Alpha, the Information Ratio, and DEA-Based Performance Measures are wrong. Leveraged/inverse ETFs and synthetic ETFs are misleading and inaccurate and non-legislative methods that reduce index arbitrage and ETF arbitrage are introduced.
With a Foreword by the President of the European Parliament, Antonio Tajani.
This book sheds light on the political dynamics within the EU member states and contributes to the discussions about Europe. Authors from all member states as well as Iceland, Norway, Switzerland and Turkey assess how their country could get more involved in the European debate, taking the reader on a journey through various political landscapes and different views. The chapters cover issues ranging from a perceived lack of ambition at the periphery to a careful balancing act between diverse standpoints at the geographical centre. Yet, discussions share common features such as the anxiety regarding national sovereignty, the migration and border discourse, security concerns as well as the obvious need to regain trust and create policies that work. The book contributes vigorously to the debate about Europe in all capitals and every corner of the continent, because this is where itsfuture will be decided.
"The European Parliament elections in May 2019 did not bring about the rise of populism in Europe that had been feared by many. Instead, while populism was contained, a broad pro-European majority emerged that today carries the new European Commission with its ambitious green, digital and geopolitical agenda. However, Euroscepticism remains a significant force to be reckoned with in national and EU-policy making. The present book offers a better understanding of the different types of Euroscepticism that exist across Europe. It also shows that Euroscepticism is best addressed by understanding well the often valid concerns that are at the origins of Eurosceptic forces. If this is done in time, Euroscepticism is not something to be afraid of. It is part of a vibrant European democracy that is resilient enough to embrace those who criticise the reality of the European project with good arguments; and that stands ready to develop and improve day by day to become a more perfect Union."
- Martin Selmayr, Head of the European Commission's representation in Austria"This book comes at the right time. European integration seems more contested than ever, but is it really? This book answers this question by probing into 40 shades of Euroscepticism, within and beyond the EU Member States. It is a must read for academics and practitioners alike."
- Christine Neuhold, University of Maastricht, The Netherlands"With this book, the authors offer readers of European politics a treasure trove, with valuable insights into the variety of populist and nationalist forces that oppose mainstream European integration. Faced with such a jumble of eurosceptic parties pursuing narrow and in many cases reactionary agendas, the need for proper federal political parties becomes self-evident. Only then will the diverse interests and aspirations of citizens be given realistic expression at the EU level."
- Andrew Duff, President, The Spinelli GroupThis book sheds light on how the increasing prominence of Eurosceptic and nationalist parties is having an impact on the thinking of mainstream parties, their representatives in the European Parliament, and the future of Europe. It is timed to coincide with the strategic vision of Council, Commission, and Parliament, as well as the next phase of Brexit negotiations. The book provides perspectives on the future of the European project from authors in all the EU Member States, as well as neighboring European countries and potential applicant nations. Furthermore, it includes a Foreword by the Vice-president of the European Parliament.
With many Eurosceptic parties now in national government, or winning European elections and thus exerting influence over the national debate, this book maps and analyses the nature and impact of Euroscepticism-and new nationalist tendencies-in the different party systems of Europe.
As national political parties are the gatekeepers of the process of political representation, they play a pivotal role in mobilizing civil society and in setting the political agenda. They shape politics at a national level, but also determine the way in which Europe plays out-or does not play out-as a political issue. Thus, it is from the national capitals that the very future of Europe emerges.
This book is about supervision in the legal profession with a focus on the experience of novice lawyers. It is the first of its kind. Until now there have been a range of books dedicated to professional supervision in many disciplines, but not law. Supervision is an important link between formal university-based legal education and independent practice and is relevant to a range of contemporary legal practice issues including changes driven by technology, workplace culture, regulating law firm management, and well-being. This book aims to be scholarly and practical. It provides an overview of how supervision is positioned in the legal regulatory framework; it describes how supervision is conceived in the legal profession and practice management literature; and draws lessons from clinical legal education and other professional disciplines. By reporting on survey data, this book also provides insights into practitioners' attitudes and perceptions about supervision inlegal practice.
Conventional wisdom dictates that those goods which are said to cause harm or impose costs on society deserve a special tax. For centuries, governments have levied these "sin taxes" on alcohol and tobacco, but the list of taxable sins has now grown to include soda and marijuana, with calls to impose further taxes on plastic bags, meat, and even robots and carbon. Contrary to what experts and policymakers tell us, many of these alleged sins impose very little, if any, cost on society, and the harms that do exist can be minimized without resorting to tax. What follows in this book is a discussion of four case studies-on tobacco, marijuana, alcohol and soda-which make the case against the conventional wisdom in taxing these "sins", before concluding that when it comes to taxing sin, it is time for governments to forgive-and forget.
This open access handbook provides a comprehensive overview of the growing field of positive education, featuring a broad range of theoretical, applied, and practice-focused chapters from leading international experts. It demonstrates how positive education offers an approach to understanding learning that blends academic study with life skills such as self-awareness, emotion regulation, healthy mindsets, mindfulness, and positive habits, grounded in the science of wellbeing, to promote character development, optimal functioning, engagement in learning, and resilience.The handbook offers an in-depth understanding and critical consideration of the relevance of positive psychology to education, which encompasses its theoretical foundations, the empirical findings, and the existing educational applications and interventions. The contributors situate wellbeing science within the broader framework of education, considering its implications for teacher training, educationand developmental psychology, school administration, policy making, pedagogy and curriculum studies.This landmark collection will appeal to researchers and practitioners working in positive psychology, educational and school psychology, developmental psychology, education, counselling, social work and public policy.
This book sheds new light on the life and times of Theodore Roosevelt, drawing on a remarkable set of oral histories gathered in the 1950s from those who knew him. Remembering Theodore Roosevelt presents fourteen intimate interviews with Roosevelt's friends, family, and contemporaries. Never before published, the transcripts reveal colorful details about the infamous Rough Riders, the political scene in New York City, the lives of his extended family, including the Hyde Park Roosevelts Franklin and Eleanor, and how the former president inspired successive generations. The book benefits from the author's discerning annotations and commentary that provide the reader with lesser-known facts and a full appreciation of the oral history project.
Perhaps the most extraordinary period in modern British history, the years between the Great Recession and Brexit have often been dubbed `the lost decade' because of the economic and political turmoil caused by those two great events. Michael Burton outlines how the first led to the second, assisted by a rare confluence of other, often unrelated, social and political factors that delivered the shock Leave verdict in the EU referendum of 2016. These included the longstanding grievances of voters in former industrial areas feeling left behind by globalism, stagnant incomes after the recession, austerity, the rise of social media, the refugee and Eurozone crisis in Europe, the deep split in the Conservative and Labour parties over the EU and rising wealth inequalities. The author also charts the chaotic political landscape that ended in the final Brexit deal. This book is ideal for the general reader as well as for students of politics, history and economics needing a concise andwell-explained account of this turbulent period in British history.
This handbook assesses the phenomenon of populism-a concept frequently belabored, but often misunderstood in politics. Rising populism presents one of the great challenges for liberal democracies, but despite the large body of research, the larger picture remains elusive. This volume seeks to understand the causes and workings of modern-day populism, and plumb the depths of the fears and frustrations of people who have forsaken established parties. Although the main focus of this volume is political science, there are more disciplines represented in order to get a whole picture of the debate. It is comprised of strong empirical and theoretical papers that also bear social relevance.
This open access book analyses the global diffusion of social policy as a process driven by multiplex ties between countries in global social networks. The contributions analyze links between countries via global trade, colonial history, similarity in culture, and spatial proximity. Networks are viewed as the structural backbone of the diffusion process, and diffusion is anlaysed via several subfields of social policy, in order to interrogate which network dimensions drive this process. The focus is on a global perspective of social policy diffusion via networks, and it is the first book to explicitly follow this macro-quantitative perspective on diffusion at a global scale whilst also comparing different networks. The collection tests the network structures in terms of their relevance to the diffusion process in different subfields of social policy such as old age and survivor pensions, labor and labor markets, health and long-term care, education and training, and family and gender policy.The book will therefore be invaluable to students and researchers of global social policy, sociology, political science, international relations, organization theory and economics.
This book offers the first, full academic analysis of the Qatar 2022 FIFA World Cup. Adopting an international relations perspective, the authors critically interrogate the politics and controversy that has surrounded arguably the most controversial sports event ever. In doing so, this text offers up an imperative examination of Qatar's desired objectives through their investment in global sport and sports events, as well as provides readers with an academic explanation on why major event hosts - such as Qatar - receive so much international scrutiny in the pre-event stage of the event hosting process. On the back of this international scrutiny, this text also provides the first full analysis on how such negative scrutiny has forced Qatar to implement various social-political changes at home.
This book analyzes the transformations and consistencies of American leadership during the past few years and situates recent American foreign policy in a longer time frame, following the 2020 presidential election and after a full year of the Biden Administration. This longer and broader view by European and American academics and experts considers both shifting American policies, notably during Trump's presidency, and underlying trends that have often gone ignored compared to the more dramatic antics of the 45th president. It helps decode recent American policy and permits us to consider possible new directions and likely continuities under Democratic leadership.
During the early days of the COVID-19 health crisis, Fang Fang's Wuhan Diary provided an important portal for people around the world to understand the outbreak, local response, and how the novel coronavirus was impacting everyday people. But when news of the international publication of Wuhan Diary appeared online in early April of 2020, Fang Fang's writings became the target of a series of online attacks by "Chinese ultra-nationalists." Over time, these attacks morphed into one of the most sophisticated and protracted hate Campaigns against a Chinese writer in decades. Meanwhile, as controversy around Wuhan Diary swelled in China, the author was transformed into a global icon, honored by the BBC as one of the most influential women of 2020 and featured in stories by dozens of international news outlets.
This book, by the translator of Wuhan Diary into English, alternates between a first-hand account of the translation process and more critical observations on how a diary became a lightning rod for fierce political debate and the target of a sweeping online campaign that many described as a "cyber Cultural Revolution." Eventually, even Berry would be pulled into the attacks and targeted by thousands of online trolls.
This book answers the questions: why would an online lockdown diary elicit such a strong reaction among Chinese netizens? How did the controversy unfold and evolve? Who was behind it? And what can we learn from the "Fang Fang Incident" about contemporary Chinese politics and society? The book will be of interest to students and scholars of translation, as well as anyone with special interest in translation, US-Chinese relations, or internet culture more broadly.
How can we understand and respond to past and present entanglements of Christianity with colonisation? What kinds of theological perspectives and approaches are needed in the wake of colonisation and its impact? Unsettling Theologies includes responses to these questions from Aboriginal, Maori, Pasifika and White scholars.
This book examines the search for `occult' or hidden forces in the two centuries after Newton's theory of gravity. It investigates how history has simplified the work of some of the key figures of the age, presenting them as `legitimate' and removing their more complex motivations. This book is a scholarly but readable exploration of forces we rely upon (electricity) and ones we have abandoned (vital fluid, animal magnetism). Ranging across literature, drama, philosophy and science, it demonstrates how hopes, fears and anxieties around occult phenomena have been expressed over time.
The Death of the Author and Anticolonial Thought promises to transform a decades old debate in literary studies about the relation between structure and agency, form and intention by giving a detailed account-previously unstudied-of the way colonized writers have responded to, learned from, and critiqued the death of the author postulate declared by Roland Barthes in 1967. The book is a cultural history of these debates-with a particular focus on two crucial two key case studies, Martinican poet and thinker Édouard Glissant and Palestinian literary and cultural critic Edward Said, this book, then, examines the immediate emergence and intensification of such responses to the postulate of the author's deathly absence from the text, in order to suggest that metropolitan literary theory drew both critique and engagement from scholars of black, decolonial and Global South background from both before 1967 and Barthes's declaration and in its wake. This book provides a focused account of the early history of the way global literatures have engaged with, critiqued, and occasionally adopted the lessons and limitations of the poststructuralist critique of that most fetishised and also reviled of figures: the author.
Narrative, Digitality, Well-Being Narrative, Digitality, Wellbeing adopts a transdisciplinary approach in exploring new forms of narrative that have emerged in a digital age, an age of new online practices that are both associated with increased risk and enhanced sense of identity. The book examines new literary narratives, new philosophies of digitality, and new approaches to cross-disciplinary work between narrative theory and psychology in the context of digital environments, interactions, and practices. It also explores through textual analysis and quantitative and qualitative analysis how users shape and understand these new narrative interactions for their own wellbeing and how educators assess the relationships between narratives and wellbeing in the classroom and lecture theatre. The book argues that theories of narrative need to be updated to account for these new forms of narrative and to account for the new ways narrative is employed by users to enhance wellbeing.
This book argues for the necessity of a re-evaluation of our thinking about responsibly relating to future generations in the context of environmental philosophy. Using long-term nuclear waste disposal as its paradigmatic case, this book makes the case that the predominant mode of thinking the future in terms of continuity and repetition of the present requires a critique informed by French philosopher Jacques Derrida in order to think responsibility adequately. The book begins by surveying contemporary accounts of intergenerational responsibility before outlining the specifics of nuclear waste disposal policy. With these stakes established, the contributions of Jacques Derrida to future-oriented ethics are introduced. These include discussions of communication across contexts, the relationship between inheritance and responsibility, and the political imperatives that result from this critique. This book concludes by arguing for an intergenerational environmental policy that rejectspolicy and infrastructural projects that depend on the present reproducing itself indefinitely.
This volume explores the experiences of those with little or no power-usually, although not exclusively, animals. The theme of animals as experiencing entities is what links the chapters and characterises the volume. Broadly each author in this volume contributes in one of two ways. The first group, in Section 1, theoretically engages animal subjectivity, animal experiences, and ways in which these are to some extent accessible and knowable to humans. The second group of authors, in Section 2, offer narrative accounts about specific animals or groups of animals and explore to some extent their subjective historical experiences. In summary, the first section diversely theorises about animal experiences, while the second section's authors assume animals' subjective experiences and construct narratives that take into account how animals might have subjectively experienced historical phenomena.
