Philosophers and practical men: Charles Babbage, Irish merchants and the economics of information

Before the emergence of coordination of production by firms, manufacturers and merchants traded in markets with asymmetric information. Evidence suggests that the practical knowledge thus gained by these agents was well in advance of contemporary political economists and anticipates twentieth-century developments in the economics of information. Charles Babbage, who regarded merchants and manufacturers as the chief sources of reliable economic data, drew on this knowledge as revealed in the evidence of manufacturers and merchants presented to House of Commons select committees to make an important pioneering contribution to the theory of production and exchange with information asymmetries.

Inclusive development? State-led land development model in New Town, Kolkata

Urban land development in India is changing under the auspices of economic liberalisation. Kolkata has been in the forefront of this transformation through development of new townships in the urban peripheries based on a distinctive state-led land development model. Within this context New Town, Kolkata (also known as Rajarhat) provides a highly illuminative case to articulate the ways in which the state is implementing its neoliberal agenda in land development. It rides on political and ideological high ground by seeking to create a ‘model development’ of state–market partnership for dual goals of fostering capitalist interest while fulfilling welfarist principles. Interesting insights have emerged that point to a policy paradox. On one hand, the process follows market principles of efficacy and efficiency; on the other hand, state’s keenness to extend control persists, thereby creating a highly uneven terrain for state–market interaction. New Town reflects a typical quasi-market condition shaped by the monopolistic state, the poorly structured role of the private sector, an absence of civic bodies, and minimal land and housing provision for the poor. In India, as internationally, the economic liberalisation market ideology is increasingly construed as good governance. In this context New Town is a step in the right direction, but the progress is patchy, uneven, and still evolving.

Optimal Front Page Advertising

We consider a model of an on-line software market, where an intermediary distributes products from sellers to buyers. When products of sellers are vertically differentiated, an intermediary, earning a proportion of sales, has an incentive to hide the worse product on the second page, and only keep the better product on the front page: that weakens the competition, allowing the seller with the better product to charge a higher price. With heterogeneous visiting costs to the second page, the platform's revenue might improve, but the outcome will become socially suboptimal.

Accountability and its Metaphors: From Forum to Agora and Bazaar

In this paper we seek to develop a ‘relational’ perspective on accountability and on so-called ‘unaccountability.’. We focus on Mark Bovens’s use of the forum metaphor in his accountability model, arguing that his relational perspective is too narrow. We advocate instead a far broader and more fundamental engagement with the idea of relational accountability. Expanding the metaphors, we point to two other accountability spaces: ‘agora,’ a primordial accountability space and ‘bazaar,’ an emergent accountability space rooted in ground-level exchange between different actors. Assertions about ‘unaccountability,’ we argue, very often reflect a failure to appreciate the fundamentally relational nature of accountability: those who use such assertions as bases for action aimed at making situations, processes or people ‘more accountable’ in fact seek to assert or impose a certain form of relationship – one that is hierarchical and monopolistic – and reflect therefore a drive to power and domination.

Sports Law

The term sports law is fourfold in nature and encompasses: (a) traditional areas of law, such as contract, tort, criminal, administrative and EU law, as applied to disputes of a sporting origin; (b) the particular impact that a range of statutory provisions might have on sport; for example, legislation governing discriminatory and unsafe practices in a workplace or monopolistic or fraudulent behaviour in an industry; (c) issues of public and social policy otherwise influencing the legislature and the courts, from the allocation of resources to the allocation of risk; and (d) lex sportiva, where that term is taken to reflect the various internal administrative regulations and awards by dispute-resolving mechanisms in sport. As a matter of practice, sports law tends to be concerned with the application of contract and commercial law principles to professional sport - and namely the application of such branches of law to disputes relating to the following "three pillars" of modern, professional sport i.e., disputes relating to the payment, sponsorship or endorsement of those who play sport for a living; disputes arising from decisions made by sports governing bodies; and disputes arising from the application of law to the holding of sports events.

Commentary on Star Chamber Decree 1586

A decree prohibiting the publication of any book contrary to statute, injunction, ordinance and letters patents, as well as any ordinance set down by the Company of Stationers. The formal protection of the Star Chamber was extended not only to books protected under royal printing privileges (see: uk_1566) but to books printed in contravention of the internal regulations of the Stationers' Company itself, further enhancing the significance of ‘stationers' copyright'.
The commentary describes the background to the decree, in particular the religious controversies of the 1570s and 1580s, as well as the dissatisfaction within the general printing trade during this period at the manner in which a number of the printing privileges granted by Elizabeth resulted in the monopolistic control of commercially lucrative works within the hands of a few stationers only. The commentary also details the efforts of the dominant members of the Stationers' Company to influence the substance of the decree and further augment their control over the internal operation of the book trade.