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In 2010, we can expect that oil and gas prices will again increase beyond the US$100 per barrel, as the global economy recovers gradually from the global recession and uses more oil and gas. It is therefore important for the general public to read and understand more about complex energy issues which affect their lives. This useful energy book, based on lectures delivered at the ISEAS Energy Forum, as well as papers written by invited experts, provides a means to access energy information. It is part of the ISEAS Energy books series which serves to educate and raise public awareness on energy issues. "As the author of The Grand Energy Transition (GET), I am naturally interested in energy books which discuss renewable energy and electric vehicles. The Grand Energy Transition shows us how to accelerate the transition to the sustainable energy gases of natural gas, wind, solar and hydrogen. What is clear is that we cannot continue with business as usual. It is imperative that energy consumption patterns should immediately begin to change dramatically. For this to happen, the public must be kept informed and mobilized. One excellent tool for public education is the ISEAS energy book with its wealth of information and which covers a wide range of energy issues. I appreciate ISEAS' good work done via the energy seminars and books, and I commend this book as an important read on energy issues." - Robert A. Hefner III, Founder, The GHK Company."The issues of environment, climate change and energy continue to feature prominently on the international agenda. There is clearly a higher level of public awareness and debate. The Copenhagen Conference focuses global attention on global warming and the rise in sea level, and provides opportunity to take a step towards transition to a low-carbon economy. Shell is working on energy and environmental issues, and continues to contribute resources, technology and skills to these global challenges. This ISEAS energy volume is timely, and a comprehensive in-depth analysis and recounting of the facts and challenges." - Lee Tzu Yang, Chairman, Shell Companies in Singapore
Systemic Risk and the Failure of Regulation
One of the lasting legacies of Reaganomics is a deep-seated distrust of government intervention in the markets. Despite this still-popular sentiment, the Basel Accords, a set of international standards for banking supervision and regulation, have been the subject of remarkably little public criticism. While academics and practitioners decry the enforcement of the Sarbanes-Oxley Act on accounting reform or attempts by Congress to regulate executive compensation, the Basel Accords have been quietly accepted.
In one of the first studies critically to examine the Basel Accords, Engineering the Financial Crisis reveals the crucial role that bank capital requirements and other government regulations played in the recent financial crisis. Jeffrey Friedman and Wladimir Kraus argue that by encouraging banks to invest in highly rated mortgage-backed bonds, the Basel Accords created an overconcentration of risk in the banking industry. In addition, accounting regulations required banks to reduce lending if the temporary market value of these bonds declined, as they did in 2007 and 2008 during the panic over subprime mortgage defaults.
The book begins by assessing leading theories about the crisis—deregulation, bank compensation practices, excessive leverage, "too big to fail," and Fannie Mae and Freddie Mac—and, through careful evidentiary scrutiny, debunks much of the conventional wisdom about what went wrong. It then discusses the Basel Accords and how they contributed to systemic risk. Finally, it presents an analysis of social-science expertise and the fallibility of economists and regulators. Engagingly written, theoretically inventive, yet empirically grounded, Engineering the Financial Crisis is a timely examination of the unintended—and sometimes disastrous—effects of regulation on complex economies.
Vol. 4 (2003) through current issue
Enterprise & Society offers a forum for research on the historical relations between businesses and their larger political, cultural, institutional, social, and economic contexts. The journal publishes studies focused on individual firms and industries grounded in a broad historical framework as well as innovative applications of economic or management theories to business and its context.
John Kultgen explores the ways morality and professional ideals are connected. In assessing the moral impact of professionalism in our society, he examines both the structure and organization of occupations and the ideals and ideology associated with professions.
Differing from standard treatments of professional ethics, Ethics and Professionalism recognizes that it is the practices within the professions that determine whether rules and ideals are used as masks for self-interest or for genuinely moral purposes.
The Chinese in Indonesia have played an important role in Indonesian society before and after the fall of Soeharto. This book provides comprehensive and up-to-date information by examining them in detail during that era with special reference to the post-Soeharto period. The contributors to this volume consist of both older- and younger-generation scholars writing on Indonesian Chinese. They offer new information and fresh perspectives on the issues of government policies, legal position, ethnic politics, race relations, religion, education and prospects of the Chinese Indonesians.
Ethnic/racial relations have been a perennial theme in Southeast Asian studies. Current events have highlighted the tensions among ethnic groups and the need to maintain ethnic/racial harmony for national unity. This book analyses ethnic/race relations in Singapore, Malaysia, and Indonesia, with special reference to the roles of ethnic Chinese in nation-building. It brings together a group of established Southeast Asian scholars to critically examine some of the important issues such as ethnic politics, nation-building, state policies, and conflict resolution. These scholars of different ethnic origins present their own ethnic perspectives and hence make the book unique. This is the most up-to-date book on ethnic/racial relations with special reference to the ethnic Chinese in three Southeast Asian countries.
Forming Relationships in the Online World
There is one thing that moves online consumers to click “add to cart,” that allows sellers to accept certain forms of online payment, and that makes online product reviews meaningful: trust. Without trust, online interactions can’t advance. But how is trust among strangers established on the Internet? What role does reputation play in the formation of online trust? In eTrust, editors Karen Cook, Chris Snijders, Vincent Buskens, and Coye Cheshire explore the unmapped territory where trust, reputation, and online relationships intersect, with major implications for online commerce and social networking. eTrust uses experimental studies and field research to examine how trust in anonymous online exchanges can create or diminish cooperation between people. The first part of the volume looks at how feedback affects online auctions using trust experiments. Gary Bolton and Axel Ockenfels find that the availability of feedback leads to more trust among one-time buyers, while Davide Barrera and Vincent Buskens demonstrate that, in investment transactions, the buyer’s own experience guides decision making about future transactions with sellers. The field studies in Part II of the book examine the degree to which reputation facilitates trust in online exchanges. Andreas Diekmann, Ben Jann, and David Wyder identify a “reputation premium” in mobile phone auctions, which not only drives future transactions between buyers and sellers but also payment modes and starting bids. Chris Snijders and Jeroen Weesie shift focus to the market for online programmers, where tough competition among programmers allows buyers to shop around. The book’s third section reveals how the quality and quantity of available information influences actual marketplace participants. Sonja Utz finds that even when unforeseen accidents hinder transactions—lost packages, computer crashes—the seller is still less likely to overcome repercussions from the negative feedback of dissatisfied buyers. So much of our lives are becoming enmeshed with the Internet, where ordinary social cues and reputational networks that support trust in the real world simply don’t apply. eTrust breaks new ground by articulating the conditions under which trust can evolve and grow online, providing both theoretical and practical insights for anyone interested in how online relationships influence our decisions.
Sharing of Experiences
A clear guide to current EU institutions, practices, and policies, this is also an informed insider's account of how they have emerged in their present form, with clues on future change. The mixture of analysis and history, description and prescription, works well, because the author has had a ringside seat, but retains a cool Nordic non-partisan detachment. The hints he offers to those, for example in Asia, considering following a similar path to regional integration, represent the distilled wisdom of a career in balancing economic benefits and national sensitivities. As his story shows, it can be done. - Lord Kerr, Former Head of the UK Diplomatic Service, now Chairman of Imperial College, London and Deputy Chairman of Royal Dutch Shell.
The Moral Worlds of a Neutral Science
Economics is a value laden enterprise - and this despite the oft repeated claims of neutrality, objectivity, and the absence of bias. This volume explores the relationship between Christianity and economics, arguing that the two can and should be integrated. While no single Christian perspective drives the book, the authors do share in common a belief that scholarship shaped by Christian commitments is entirely appropriate and should be an integral part of the professional life of Christian economist. In particular, this volume demonstrates how Christianity shapes the worldview an economist brings to the task, the questions an economist asks, and the policies an economist advocates.
In this splendidly illustrated book, food writer and self-described farm groupie Janine MacLachlan embarks on a tour of seasonal markets and farmstands throughout the Midwest, sampling local flavors from Michigan, Ohio, Indiana, Illinois, Missouri, Iowa, Minnesota, and Wisconsin. She conducts delicious research as she meets farmers, tastes their food, and explores how their businesses thrive in the face of an industrial food supply. She tells the stories of a pair of farmers growing specialty crops on a few acres of northern Michigan for just a few months out of the year, an Ohio cattle farm that has raised heritage beef since 1820, and a Minnesota farmer who tirelessly champions the Jimmy Nardello sweet Italian frying pepper. Along the way, she savors vibrant red carrots, slurpy peaches, vast quantities of specialty cheeses, and some of the tastiest pie to cross anyone's lips. _x000B__x000B_Informed by debates about eating local, seasonal crops, organic farming, and biodiversity, Farmers' Markets of the Heartland tantalizes with special recipes from farm-friendly chefs and dozens of luscious color photographs that will inspire you to harvest the homegrown flavors in your own neighborhood.