The economic consequences of a hung parliament : lessons from February 1974

The British general election on 10 May 2010 delivered Britain’s first hung Parliament since February 1974, and in the run-up, the Conservative Party made much of the economic difficulties Britain faced in the second half of the 1970s in order to try and convince voters that anything other than a Tory vote would risk exposing the nation to the discipline of financial markets. The question of how well equipped an exceptional kind of British government is to deal with exceptional economic circumstances is therefore of paramount importance. This paper argues that the Conservative Party made too much of the impact of the 1974 hung Parliament in precipitating subsequent economic crisis and suggests that as such, there is no reason to assume that the Conservative-Liberal coalition government is ill-equipped to manage British economic affairs in difficult circumstances

Race, class, and community in a southern forest-dependent region

Based on a Community and Environment in Rural America survey, this brief looks at four counties in Alabama. It finds blacks and whites have different outcomes in the community, despite expectations of regional stability and greater equality. Though they reported similar rates of social mobility, African Americans in the Black Belt of Alabama are disproportionately poorer and employed in lower-skill jobs than whites

‘Socially useful’ finance and the regulation of peer-to-peerlending in the United Kingdom

Economic policy has been a central debate in British politics since the economic crash. Here, Chris Rogers and Chris Clarke assess how peer to peer lending has changed this landscap

Exploring the episodic structure of algebra story problem solving

This paper analyzes the quantitative and situational structure of algebra story problems, uses these materials to propose an interpretive framework for written problem-solving protocols, and then presents an exploratory study of the episodic structure of algebra story problem solving in a sizable group of mathematically competent subjects. Analyses of written protocols compare the strategic, tactical, and conceptual content of solution attampts, looking within these attempts at the interplay between problem comprehension and solution. Comprehension and solution of algebra story problems are complimentary activities, giving rise to a succession of problem solving episodes. While direct algebraic problem solving is sometimes effective, results suggest that the algebraic formalism may be of little help in comprehending the quantitative constraints posed in a problem text. Instead, competent problem solvers often reason within the situational context presented by a story problem, using various forms of "model-based reasoning" to identify, pursue, and verify quantitative constraints required for solution. The paper concludes by discussing the implications of these findings for acquiring mathematical concepts (e.g., related linear functions) and for supporting their acquisition through instruction

Exploring the episodic structure of algebra story problem solving

This paper analyzes the quantitative and situational structure of algebra story problems, uses these materials to propose an interpretive framework for written problem-solving protocols, and then presents an exploratory study of the episodic structure of algebra story problem solving in a sizable group of mathematically competent subjects. Analyses of written protocols compare the strategic, tactical, and conceptual content of solution attempts, looking within these attempts at the interplay between problem comprehension and solution. Comprehension and solution of algebra story problems are complimentary activities, giving rise to a succession of problem solving episodes. While direct algebraic problem solving is sometimes effective, results suggest that the algebraic formalism may be of little help in comprehending the quantitative constraints posed in a problem text. Instead, competent problem solvers often reason within the situational context presented by a story problem, using various forms of "model-based reasoning" to identify, pursue, and verify quantitative constraints required for solution. The paper concludes by discussing the implications of these findings for acquiring mathematical concepts (e.g., related linear functions) and for supporting their acquisition through instruction

V for Vendetta as vernacular critique : the exceptional state of liberal political economy

This paper suggests that the liberal state in market society presents an inherent tension between liberalism and democracy. It shows how the tradition of liberal political economy provides for a constitutional form that supports specific and contestable values, relies on depoliticising the foundation of those values (especially in relation to private property and the bases of commercial society), and the exercise of authority—enshrined in the Rule of Law and backed by the force of law. The paper suggests that this has been poorly mediated in mainstream discourse, but that Moore and Lloyd’s V for Vendetta provides an astute vernacular critique of the liberal state by developing clearly recognisable allegories of Thatcherite political economy that illustrate the formal nature of justice and democracy under the liberal state form. The paper makes the specific claim that V for Vendetta can be read as a significant critique of the political economy of the liberal state, and the more general claim that cultural artefacts have the potential to develop important insights into the relationship between state, economy, and society in keeping with the traditions of the ‘new political economy’

Mainstreaming social finance : the regulation of the peer-to-peer lending marketplace in the United Kingdom

The article provides one of the first political economy accounts of the regulation of peer-to-peer (P2P) lending in the United Kingdom, drawing on interviews with platforms representing the vast majority of the market at the beginning of the regulatory process. The article links the regulation of P2P lending with debates about regulatory capture. It challenges conventional understandings of its consequences by showing how the regulation of P2P lending displays characteristics of regulatory capture but appears to have realised several aspects of regulators’ visions for a ‘socially useful finance’, rather than facilitating the kind of rent-seeking behaviour that has been identified in the case of other areas of finance. P2P lending is found to represent one of the latest forms of consumer and small business finance that works towards so-called ‘financial inclusion’, with ambiguous social outcomes that necessitate further critical investigation

Experimentally validated continuous-time repetitive control of non-minimum phase plants with a prescribed degree of stability

This paper considers the application of continuous-time repetitive control to non-minimum phase plants in a continuous-time model predictive control setting. In particular, it is shown how some critical performance problems associated with repetitive control of such plants can be avoided by use of predictive control with a prescribed degree of stability. The results developed are first illustrated by simulation studies and then through experimental tests on a non-minimum phase electro-mechanical system