This note presents new archival evidence about John Maynard Keynes’ attitudes toward Jews. The relevant material is composed of two letters sent by Robert G. Wertheimer to Bertrand…
Abstract
This note presents new archival evidence about John Maynard Keynes’ attitudes toward Jews. The relevant material is composed of two letters sent by Robert G. Wertheimer to Bertrand Russell and Richard F. Kahn along with their replies. Between 1963 and 1964, Wertheimer – an Austrian-born Jewish immigrant then professor of economics at Babson College – wrote to Russell and Kahn asking for their personal reminiscences concerning Keynes’ anti-Semitic utterances. In their brief but still significant responses, both Russell and Kahn firmly denied any hint of anti-Semitism in Keynes, thereby providing significant first-hand testimonies from two of his closest acquaintances.
Details
Keywords
Erik Joosten, Marion Bogers, Robert Beeres and Robert Bertrand
The purpose of this paper is to identify and test predictors for countries to comply with the Financial Action Task Force’s (FATF) anti-money laundering and terrorist financing…
Abstract
Purpose
The purpose of this paper is to identify and test predictors for countries to comply with the Financial Action Task Force’s (FATF) anti-money laundering and terrorist financing recommendations.
Design/methodology/approach
The authors conduct a quantitative study to explore which factors predict compliance of countries. They include the compliance scores of 196 countries.
Findings
The results of a forward stepwise regression analysis show that a country’s wealth, measured as gross domestic product (GDP) per capita, is the most important predictor for compliance. This result supports earlier academic work about predictors for compliance (Simmons, 1998; Giraldo and Trinkunas, 2007; Whitaker, 2010). The other factors identified suffering from terrorist attacks, relative financial market dominance, tourism sector and the degree of democracy do not explain additional variance in compliance.
Practical implications
This research sheds light on compliance as a concept. For policymakers, accountants, companies and governments, it is important to understand why compliance occurs and why not.
Originality/value
The empirical results indicate that, in contrast to common belief, countries that suffer more from terrorism are not more compliant. Moreover, the rate of democracy, a relative dominant financial market and a strong tourism sector do not stimulate compliance with anti-terrorist financing standards.
Details
Keywords
Starting from Gino Arias’s dictum on the uselessness of international trade theory for fascism, this contribution aims to demonstrate two main points. First, the free trade…
Abstract
Starting from Gino Arias’s dictum on the uselessness of international trade theory for fascism, this contribution aims to demonstrate two main points. First, the free trade attitude displayed by fascism immediately before and after the “March on Rome” clashed with its nationalist origins. The nationalist movement had supported a strong protectionist policy starting from a rejection of the main principles of marginalist theory. This explains why some issues raised by Pareto and Barone which could have been used as arguments in favor of protectionism were neglected. In turn, this impasse played a major role in the rejection of Mihail Manoilescu’s theory in the thirties. The second point concerns the possibility of some – at least relatively – free theoretical debate on international trade theory and policy. When the regime set itself a clear objective, like the reduction of trade to begin with, and then autarky, the scope for free discussion narrowed to the point of eventually closing. In this context, refusing to support the regime’s choices in economic policy meant resigning oneself to becoming an outcast. A situation offering one more tessera in the complex mosaic of relations between science and politics in authoritarian regimes.
Details
Keywords
Robert F. Bruner, Philippe Demigne, Jean-Christophe Donek, Bertrand George and Michael Levy
In April 1992, this multinational consumer foods and beverages company is the focus of takeover rumors, which have prompted an assessment of the firm's returns. The student must…
Abstract
In April 1992, this multinational consumer foods and beverages company is the focus of takeover rumors, which have prompted an assessment of the firm's returns. The student must choose among the principal methods of estimating the weighted-average cost of capital (WACC) for GrandMet and its three main business segments, and must then produce WACC estimates in order to evaluate the firm's performance.
Details

Keywords
The main purpose of this paper is to provide an analytical conceptual framework to help business marketers to identify the effect of consumer's online purchase cost on a firm's…
Abstract
Purpose
The main purpose of this paper is to provide an analytical conceptual framework to help business marketers to identify the effect of consumer's online purchase cost on a firm's performance in a dual‐channel competitive market.
Design/methodology/approach
A structural model using game theory is developed to search the optimal strategies for both online and traditional channel retailers.
Findings
Our model results show that consumer's online purchase cost consistently has a valuable impact on a firm's profit, and consumer's online purchase cost shows a much more valuable impact on firm's profit when the traditional retail transaction cost and the product web‐fit change. We also find that consumer's online purchase cost has a greater impact on the firm's profit in a Stackelberg competition than in a Bertrand competition.
Research limitations/implications
The present study holds the assumption that all information is known to the online retailers and the traditional retailers. However, information could be incomplete and asymmetric. It is recommended that future research explores the value of consumer's online purchase cost under information asymmetry.
Practical implications
Our paper provides a comprehensive model framework for business managers who currently use or plan to use internet channel to sell their products.
Originality/value
Our research model fills a conceptual and practical gap with a structured analysis of the current state of knowledge about consumer's online purchase cost. The paper provides practical and solid advice and examples demonstrating the application of the different types of optimal marketing strategies for business managers.
Details
Keywords
The Coase theorem is associated with Stigler because Stigler coined the term. The object of this paper is to show that Stigler’s Coase theorem is Stiglerian for deeper – namely…
Abstract
The Coase theorem is associated with Stigler because Stigler coined the term. The object of this paper is to show that Stigler’s Coase theorem is Stiglerian for deeper – namely, methodological – reasons. We argue that, convinced as he was by the importance of Coase’s message, Stigler also believed that this message – such as presented in “The Federal Communications Commission” (1959) or “The Problem of Social Cost” (1962) – was not scientific. Hence, he had to transform it into a theorem to give it a scientific dimension. This is what we try to show by presenting Stigler’s methodology and by confronting it to the methodology used in Coase’s articles.
Details
Keywords
The critical dimension and the one that can unify knowledge through systemic interrelationships, is unification of the purely a priori with the purely a posteriori parts of total…
Abstract
The critical dimension and the one that can unify knowledge through systemic interrelationships, is unification of the purely a priori with the purely a posteriori parts of total reality into a congruous whole. This is a circular cause and effect interrelationship between premises. The emerging kind of world view may also be substantively called the epistemic‐ontic circular causation and continuity model of unified reality. The essence of this order is to ground philosophy of science in both the natural and social sciences, in a perpetually interactive and integrative mould of deriving, evolving and enhancing or revising change. Knowledge is then defined as the output of every such interaction. Interaction arises first from purely epistemological roots to form ontological reality. This is the passage from the a priori to the a posteriori realms in the traditions of Kant and Heidegger. Conversely, the passage from the a posteriori to a priori reality is the approach to knowledge in the natural sciences proferred by Cartesian meditations, David Hume, A.N. Whitehead and Bertrand Russell, as examples. Yet the continuity and renewal of knowledge by interaction and integration of these two premises are not rooted in the philosophy of western science. Husserl tried for it through his critique of western civilization and philosophical methods in the Crisis of Western Civilization. The unified field theory of Relativity‐Quantum physics is being tried for. A theory of everything has been imagined. Yet after all is done, scientific research program remains in a limbo. Unification of knowledge appears to be methodologically impossible in occidental philosophy of science.