Browse Results For:
Vol. 1 (2015) through current issue
Behavioral Science & Policy is an international, peer-reviewed journal that features short, accessible articles describing actionable policy applications of behavioral scientific research that serves the public interest. Articles submitted to BSP undergo a dual-review process. Leading Scholars from specific disciplinary areas review articles to assess their scientific rigor; at the same time, experts in relevant policy areas evaluate them for relevance and feasibility of implementation. Manuscripts that pass this dual-review are edited to ensure their accessibility to scientists, policy makers, and lay readers. BSP is not limited to a particular point of view or political ideology. BSP is a publication of the Behavioral Science & Policy Association and the Brookings Institution Press.
Presents papers which were discussed at the Arden House Conference—a conference held to establish a working relationship between sociologists at the Russell Sage Foundation and journalists of the Graduate School of Journalism of Columbia University. Both behavioral science and journalism have for a long time been concerned with some of the same major national social problems—juvenile delinquency, urban problems, race and minority group relations, international tensions, and labor relations. These papers touch on some of the barriers to communication and point to possible ways of breaking through those barriers.
Corruption in the European Union
As the European Union moved in the 1990s to a unified market and stronger common institutions, most observers assumed that the changes would reduce corruption. Aspects of the stronger EU promised to preclude-or at least reduce-malfeasance: regulatory harmonization, freer trade, and privatization of publicly owned enterprises. Market efficiencies would render corrupt practices more visible and less common.
In The Best System Money Can Buy, Carolyn M. Warner systematically and often entertainingly gives the lie to these assumptions and provides a framework for understanding the persistence of corruption in the Western states of the EU. In compelling case studies, she shows that under certain conditions, politicians and firms across Europe, chose to counter the increased competition they faced due to liberal markets and political reforms by resorting to corruption. More elections have made ever-larger funding demands on political parties; privatization has proved to be a theme park for economic crime and party profit; firms and politicians collude in many areas where EU harmonization has resulted in a net reduction in law-enforcement powers; and state-led "export promotion" efforts, especially in the armaments, infrastructure, and energy sectors, have virtually institutionalized bribery.
The assumptions that corruption and modernity are incompatible-or that Western Europe is somehow immune to corruption-simply do not hold, as Warner conveys through colorful analyses of scandals in which large corporations, politicians, and bureaucrats engage in criminal activity in order to facilitate mergers and block competition, and in which officials accept private payments for public services rendered. At the same time, the book shows the extent to which corruption is driven by the very economic and political reforms thought to decrease it.
Innovation and the Limits of Asia's Developmental State
After World War II, several late-developing countries registered astonishingly high growth rates under strong state direction, making use of smart investment strategies, turnkey factories, and reverse-engineering, and taking advantage of the postwar global economic boom. Among these economic miracles were postwar Japan and, in the 1960s and 1970s, the so-called Asian Tigers-Singapore, South Korea, and Taiwan-whose experiences epitomized the analytic category of the "developmental state."
In Betting on Biotech, Joseph Wong examines the emerging biotechnology sector in each of these three industrial dynamos. They have invested billions of dollars in biotech industries since the 1990s, but commercial blockbusters and commensurate profits have not followed. Industrial upgrading at the cutting edge of technological innovation is vastly different from the dynamics of earlier practices in established industries.
The profound uncertainties of life-science-based industries such as biotech have forced these nations to confront a new logic of industry development, one in which past strategies of picking and making winners have given way to a new strategy of throwing resources at what remain very long shots. Betting on Biotech illuminates a new political economy of industrial technology innovation in places where one would reasonably expect tremendous potential-yet where billion-dollar bets in biotech continue to teeter on the brink of spectacular failure.
Russian Post-Communist Political Reform
For hundreds of years, dictators have ruled Russia. Do they still? In the late 1980s, Soviet President Mikhail Gorbachev launched a series of political reforms that eventually allowed for competitive elections, the emergence of an independent press, the formation of political parties, and the sprouting of civil society. After the collapse of the Soviet Union in 1991, these proto-democratic institutions endured in an independent Russia. But did the processes unleashed by Gorbachev and continued under Russian President Boris Yeltsin lead eventually to liberal democracy in Russia? If not, what kind of political regime did take hold in post-Soviet Russia? And how has Vladimir Putin's rise to power influenced the course of democratic consolidation or the lack thereof? Between Dictatorship and Democracy seeks to give a comprehensive answer to these fundamental questions about the nature of Russian politics.
Transnational Advocacy Networks and Conservation in Developing Countries
Asset Price Swings, Risk, and the Role of the State
In the wake of the global financial crisis that began in 2007, faith in the rationality of markets has lost ground to a new faith in their irrationality. The problem, Roman Frydman and Michael Goldberg argue, is that both the rational and behavioral theories of the market rest on the same fatal assumption--that markets act mechanically and economic change is fully predictable. In Beyond Mechanical Markets, Frydman and Goldberg show how the failure to abandon this assumption hinders our understanding of how markets work, why price swings help allocate capital to worthy companies, and what role government can and can't play.
The financial crisis, Frydman and Goldberg argue, was made more likely, if not inevitable, by contemporary economic theory, yet its core tenets remain unchanged today. In response, the authors show how imperfect knowledge economics, an approach they pioneered, provides a better understanding of markets and the financial crisis. Frydman and Goldberg deliver a withering critique of the widely accepted view that the boom in equity prices that ended in 2007 was a bubble fueled by herd psychology. They argue, instead, that price swings are driven by individuals' ever-imperfect interpretations of the significance of economic fundamentals for future prices and risk. Because swings are at the heart of a dynamic economy, reforms should aim only to curb their excesses.
Showing why we are being dangerously led astray by thinking of markets as predictably rational or irrational, Beyond Mechanical Markets presents a powerful challenge to conventional economic wisdom that we can't afford to ignore.