Central Banking in an Era of Quantitative Easing

This paper reviews the key insights of Hyman P. Minsky in arguing why finance cannot be left to free markets, drawing on the East Asian development experience. The paper suggests that Minsky's more complete stock-flow consistent analytical framework, by putting finance at the center of analysis of economic and financial system stability, is much more pragmatic and realistic compared to the prevailing neoclassical analysis. Drawing upon the East Asian experience, the paper finds that Minsky's analysis has a system-wide slant and correctly identifies Big Government and investment as driving employment and profits, respectively. Specifically, his two-price system can aid policymakers in correcting the systemic vulnerability posed by asset bubbles. By concentrating on cash-flow analysis and funding behaviors, Minsky's analysis provides the link between cash flows and changes in balance sheets, and therefore can help identify unsustainable Ponzi processes. Overall, his multidimensional analytical framework is found to be more relevant than ever in understanding the Asian crisis, the 2008 global financial crisis, and policymaking in the postcrisis world

Macromarketing Pedagogy:Empowering Students to Achieve a Sustainable World

The United Nation's Sustainable Development Goals (SDGs) are challenging the world to work towards a more sustainable future. Its 17 goals are ambitious, requiring concerted and system-based efforts driven by critical and socially aware thinking. However, marketing education is largely falling short of teaching students to think that way. Given macromarketing's unique perspective on the interactions among markets, marketing, and society, macromarketers are poised to contribute to marketing pedagogy and to commit students to realizing the SDGs. This article first looks back at the previous 40 years of macromarketing pedagogy, before offering contemporary approaches to teaching macromarketing through four illustrative case studies found in an online repository called Pedagogy Place. It then looks forward, setting an aspiring vision for macro-oriented classrooms in the coming years

Circular economy inspired imaginaries for sustainable innovations

In this chapter, Narayan and Tidström draw on the concept of imaginaries to show how Circular Economy (CE) can facilitate values that enable sustainable innovation. Innovation is key for sustainability, however, understanding and implementing sustainable innovation is challenging, and identifying the kind of actions that could direct sustainable innovations is important. The findings of this study indicate that CE-inspired imaginaries enable collaboration and by relating such imaginaries to common and shared social and cultural values, intermediaries could motivate actors into taking actions that contribute to sustainable innovation.fi=vertaisarvioitu|en=peerReviewed

Minimizing the Dangers of Air Pollution Using Alternative Facts: A Science Museum Case Study

A science museum exhibition about human health contains an exhibit that minimizes health impacts of air pollution. Relevant details, such as the full range of health risks; fossil fuel combustion; air quality statutes (and the local electrical utility’s violations of these statues), are omitted, while end users of electricity are blamed. The exhibit accomplishes this, not through outright falsification, but through selected “alternative facts” that change the focus and imply misleading alternate explanations. Using two classical rhetorical concepts (the practical syllogism and the enthymeme) allows for the surfacing of missing evidence and unstated directives underlying multimodal rhetoric. By stating multimedia arguments syllogistically, a technique is proposed for revealing hidden political sub-texts from beneath a putatively disinterested presentation of facts. The piece should be of interest to researchers, message designers and policy makers interested in the rhetoric of science, ecology, health and museums

Toward a theory of restraint

Consumption largely remains a black box in the population, environment, and global change debates. The dominant perspective takes insatiability as axiomatic and assumes that reduced consumption will only happen through scarcity or the impositions of external authority. Yet humans often exhibit resource limiting behavior that is not the result of external controls nor is it altruistic or aberrant. This article develops the concept of restraint as an evolutionarily and culturally significant behavior, yet one that in modern times has been relegated to a regressive, if not trivial, status. The article defines restraint, hypothesizes its historical and evolutionary roots, lays out the conditions under which it can occur, and develops a theoretical parallel to cooperation in international relations theory.Peer Reviewedhttp://deepblue.lib.umich.edu/bitstream/2027.42/43491/1/11111_2005_Article_BF02208422.pd