Geras on means and ends: the case for a prefigurative constraint

Norman Geras argues for the incorporation of elements from the just war tradition into the ethics of social change. But this does not go far enough. In this paper I argue for a prefigurative constraint: that action intended to bring about social transformation ought to prefigure that transformation, and bear those properties of the future state of affairs that make the future state of affairs morally valuable. I defend the idea of a prefigurative constraint against some objections and introduce a schema to relate political action to morally valuable end states

A Dynamic General Equilibrium Framework of Investment with Financing Constraint

In this paper, we provide a dynamic general equilibrium framework with an explicit investment-financing constraint. The constraint is intended as a reduced form to capture the balance sheet effects that have been widely regarded as an important determinant of financial crises. We derive a link between the value of the firm and social welfare. We find that the value of the firm can be greater with the constraint. Our model also sheds light on how the effects of productivity shocks and investors' misperception of productivity shocks may be amplified by the financing constraint.Investment Constraint, Value of the Firm

Homeownership as a Constraint on Asset Allocation

While home ownershipt provides a great deal of personal and social benefits, it poses a substantial constraint on individuals' asset allocation.housing, portfolio choice

Mind the gap: National and local partnership in the Irish public sector

This article uses case study data from a major Irish city council to investigate and explain public sector worker attitudes towards social partnership at local and national level. It is argued that the more sceptical attitudes to workplace partnership reflect structural differences between local and national arrangements, which have enabled public sector employers to use ‘social partnership’ as a constraint in the implementation process of a pre-determined public sector reform agenda