Deliberative Equality and the Transgovernmental Politics of the Global Financial Architecture

Revisiting the concept of transgovernmentalism, originally developed by Robert Keohane and Joseph Nye, can shed considerable light on the nature of interstate cooperation in contemporary global financial governance. Transgovernmentalism highlights how certain technocratic policy communities, composed of finance ministries, central banks, and regulators, dominate the global financial architecture. It also provides insights into the political and social basis of these actors' interactions and deliberations. Most importantly, renovating the concept of transgovernmentalism brings the participatory deficits in the current global financial architecture into sharp focus and points us in the direction of a workable reform agenda that would expand inclusion and participation. This article advocates basing future reform on efforts to achieve a closer realization of the principle of “deliberative equality.” Unfortunately, “transgovernmentalism” is incompatible with deliberative equality, meaning that it is precisely the transgovernmental characteristics of the current global financial architecture that have to be challenged and overturned if we are to arrive at anything approximating deliberative equality.

Restraing Regulatory Capture? Anglo America, Crisis Politics and Trajectories of Change in Global Financial Governance

A growing number of respected commentators now argue that regulatory capture of public agencies and public policy by leading banks was one of the main causal factors behind the financial crisis of 2007–2009, resulting in a permissive regulatory environment. This regulatory environment placed a faith in banks own internal risk models, contributed to pro-cyclical behaviour and turned a blind eye to excessive risk taking. The article argues that a form of ‘multi-level regulatory capture’ characterized the global financial architecture prior to the crisis. Simultaneously, regulatory capture fed off, but also nourished the financial boom, in a fashion that mirrored the life cycle of the boom itself. Minimizing future financial booms and crises will require continuous, conscious and explicit efforts to restrain financial regulatory capture now and into the future. The article assesses the extent to which this has been achieved in current global financial governance reform efforts and highlights some of the persistent difficulties that will continue to hamper efforts to restrain regulatory capture. The evidence concerning the extent to which regulatory capture is being effectively restrained is somewhat mixed, and where it is happening it is largely unintentional and accidental. Recent reforms have overlooked the political causes of the crisis and have failed to focus explicitly or systematically on regulatory capture.

Detecting Deceptive Movement in 1 vs. 1 Based on Global Body Displacement of a Rugby Player

A key to success in many sports stems from the ability to anticipate what a player is going to do next. In sporting duels such as a 1 vs. 1 in rugby, the attacker can try and beat the defender by using deceptive movement. Those strategies involve an evolution of the centre of mass (COM) in the medio-lateral plane, from a minimal state to maximal displacement just before the final reorientation. The aim of this work is to consider this displacement as a motion-gap, as outlined in Tau theory, as a potential variable that may specify deceptive movement and as a means of comparing anticipatory performance between mid-level players and novices in rugby. Using a virtual reality set-up, 8 mid-level rugby players (ML) and 8 novices (NOV) observed deceptive (DM) and non-deceptive movements (NDM). The global framework used an occlusion time paradigm with four occlusion times. Participants had to judge the final direction of the attacker after the different cuts-off. For each movement and at each occlusion time, we coupled the ability to predict the good final direction with the value of the COM displacement in the medio-lateral (COM M/L) plane or with the Tau of this parameter (Tau COM). Firstly, results show that the Tau COM is a more predictive optical variable than the simple COM M/L. Secondly, this optical variable Tau COM is used by both groups, and finally, with a specific methodology we showed that mid-level players have significantly better anticipatory ability than the novice group.

Local, European and global: An exploration of migration patterns of social workers into Ireland

Whilst the project to increase workforce mobility is part of a common labour force policy across the European Union, for some social workers, it has also been coupled with an aspiration to develop a pan-European identity within the profession (Lorenz, 1994, 2000; Frost, 2008). In this article, taking the island of Ireland as an example, we examine empirical data on the movement of social workers in recent years, both within Ireland and inward from outside the island, and consider the challenges and opportunities this has presented for the profession, also drawing on the British experience. From this analysis, some tentative conclusions are drawn about what is happening, what is possible and what is desirable in balancing aspirations for increased mobility within the European Union and a pan-European social work identity against the needs and interests of local, European and global communities.

Face Recognition in Global Harmonic Subspace

In this paper, a novel pattern recognition scheme, global harmonic subspace analysis (GHSA), is developed for face recognition. In the proposed scheme, global harmonic features are extracted at the semantic scale to capture the 2-D semantic spatial structures of a face image. Laplacian Eigenmap is applied to discriminate faces in their global harmonic subspace. Experimental results on the Yale and PIE face databases show that the proposed GHSA scheme achieves an improvement in face recognition accuracy when compared with conventional subspace approaches, and a further investigation shows that the proposed GHSA scheme has impressive robustness to noise.

Getting off the escalator? A study of Scots out-migration from a global city region

Something new is happening to reverse the historical trend of skilled Scots moving to London for career progression. The Scottish population of London and the South East is falling and this despite Scots enjoying continued occupational success within the South East labour market. The authors ask why Scots are leaving the UK's main escalator region and then investigate how these migration changes can best be theorised relative to literature on the mobility of the 'new service class'. Building on Fielding's escalator region hypothesis, the authors report on recent research on longer distance flows out of the UK's main escalator region. They advance the critique of the escalator region hypothesis set out by Findlay et al and ask why people would leave a global city offering good opportunities for occupational mobility. Demographic regime change provides only a partial answer. Other explanations can be found in the changing mobilities of the new service class as they engage in what Smith has defined as 'translocal' and 'transnational' urbanism. The authors argue that Scotland's changing relationship with London and the South East may be representative of a wider set of changes in migration linkages between regional economies and global cities.