Optimal Credit Rationing in Not-For-Profit Financial Institutions

We examine the dynamic optimization problem for not-for-profit financial institutions (NFPs) that maximize consumer surplus, not profits. We characterize the optimal dynamic policy and find that it involves credit rationing. Interest rates set by mature NFPs will typically be more favorable to customers than market rates, as any surplus is distributed in the form of interest rate subsidies, with credit rationing being required to prevent these subsidies from distorting loan volumes from their optimal levels. Rationing overcomes a fundamental problem in NFPs; it allows them to distribute the surplus without distorting the volume of activity from the efficient level.

The Secular Beyond: Free Religious Dissent and Debates over the Afterlife in Nineteenth-Century Germany

Toward the end of the first third of the nineteenth century, German writers began to favor a new metaphor for the afterlife: “das Jenseits” (“the Beyond”). At first glance, the emergence of such a term may appear to have little bearing on our understanding of the history of religious thought. However, as the late historian Reinhart Koselleck maintained, the study of semantic changes can betray tectonic shifts in the matrix of ideas that underpin the worlds of politics, learning, and religion. Drawing on Koselleck's method of conceptual history, the following essay takes the popularization of “the Beyond” as a point of departure for investigating secularization and secularism as two linked, yet distinct, sources of pressure on the fault lines of nineteenth-century German religious thought.

The 1996 ‘Muslim holiday’ affair. Religious competition and state mediation in contemporary Mozambique

Political commentators often cast religious con? ict as the result of the numerical growth and political rise of a single faith. When Islam is involved, arguments about religious fundamentalism are quick to surface and often stand as an explanation in their own right. Yet, as useful as this type of explanation may be, it usually fails to address properly, if at all, two sets of important issues. It avoids, Ž rst, the question of the rise of other religions and their contribution to tensions and con? icts. Second, it reduces the role of the State to a reactive one. The State becomes an object of contest or conquest, or it is simply ignored. Adopting a different approach, this article investigates a controversy that took place in Mozambique in 1996 around the ‘ofŽ cialisation’ of two Islamic holidays. It looks at the role played by religious competition and state mediation. The article shows that the State’s abandonment of religious regulation – the establishment of a free ‘religious market’ – fostered religious competition that created tensions between faiths. It suggests that strife ensued because deregulation was almost absolute: the State did not take a clear stand in religious matters and faith organisations started to believe that the State was becoming, or could become, confessional. The conclusion discusses theoretical implications for the understanding of religious strife as well as Church and State relations. It also draws some implications for the case of Mozambique more speciŽ cally, implications which should have relevance for countries such as Malawi, Zambia and Zimbabwe where problems of a similar nature have arisen.

Arquetipo y homofobia en el relato mexicano de temática gay

En este trabajo se pretende analizar cómo autores de diversas generaciones han contribuido al arraigo en el inconsciente colectivo, y en la misma literatura, a fijar valores y juicios predeterminados por los dogmas religiosos e ideologías de las instituciones gubernamentales. Para poder entender la evolución de los patrones del arquetipo y la homofobia, el análisis se realizará tomando en cuenta el orden cronológico en que se suceden los relatos, que van de la Revolución al término de la primera década del nuevo siglo, es decir cien años. También se analizarán los tratamientos estéticos y narrativos en los relatos.

Accessing the Institutions: The Road to the Socialist-Green Alliance in Spain

This article traces the strategic re-orientation of the Spanish Greens (Los Verdes) from a position of hostility toward the Socialists (PSOE) to one of collaboration that allowed them to gain parliamentary representation in the 2004 national and European elections. Drawing upon insights from the party politics literature, it schematizes a model and then proceeds to use it to provide a diachronic account of factionalist conflict within the ranks of the Greens and their close competitors, the structure of political opportunities, exogenous factors and their interrelationship, up to the point of the electoral agreement between the two parties. In concludes by highlighting the role played by the Madrid bombings in bringing the PSOE back into power and offers some projections about the future institutional access of the Greens.

The nonformative elements of religious life: questioning the ‘sociology of spirituality’ paradigm

Sociological assertions of religious vitality in Euro-American societies have developed a paradigm of spirituality in which, following earlier studies of the New Age, a distinction is drawn between external authority and self-authority. Methodologically and theoretically problematic, this paradigm diverts attention from people’s social practices and interactions, especially in relation to multiple religious authorities. Drawing upon ethnographic fieldwork with an English religious network, and building upon the work of Pierre Bourdieu, this paper considers situations in which multiple authorities tend to relativize each other. Conceptualizing this in terms of nonformativeness - the lack of authorities’ abilities formatively to shape religious identity, habitus, and competition over religious capital - a new understanding of individual secularization emerges that questions assertions of vitality.

Strategy in a religious network: A bourdieuian critique of the sociology of spirituality

Within the sociology of religion there has emerged a discourse on spirituality that views contemporary developments as involving the assertion of individuals’ self-authority. This perspective’s theoretical roots have been persistently criticised for their conceptualisation of agency; in contrast, this paper draws upon Bourdieu’s concept of strategy to examine action in an English religious network of the sort often classified ‘New Age’. In particular, one informant is discussed in order to provide focus for an understanding of what Lahire calls sociology at the level of the individual. Her actions, better explained as strategic improvisations than as choices made on the basis of self-authority, help to illuminate the peculiarities of this religious setting, which is characterised in terms of ‘nonformativeness’. By emphasising social contextualisation, this approach addresses people’s meaningful actions in a way that may be applied not only more widely within the religious field but also in other fields of action.