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Whenever goods and services are supplied at a price that lies below the market‐clearing level, excess demand occurs and some way has to be found of rationing the limited available supply amongst prospective customers. Problems of this kind may occur in any market in which price does not continuously adjust to the relative pressures of supply and demand. The phenomenon occurs in both private markets and in the government sector in both capitalist and non‐capitalist economies. A wide array of devices may take the place of price adjustment: adjustment of stocks or inventories; the emergence of black markets; discrimination amongst customers by sellers by reference to a wide variety of characteristics (such as whether they are regular customers or whether they are of a particular sex or colour or whatever); the application of some other rule such as first‐come‐first‐served and so forth. The object of this article is to focus on just one means of rationing limited supplies, namely that of using waiting time to reduce demand. To give a definite shape to discussion we impose the further limitation of confining ourselves to goods and services that are provided by public agencies of one kind or other, and to the provision of health care in particular.

This register of current research in social economics has been compiled by the International Institute of Social Economics. The register does not claim to be comprehensive but is merely an aid for research workers and institutions interested in social economics. The register will be updated and made more comprehensive in the future but this is largely dependent on the inflow of information from researchers in social economics. In order to facilitate this process a standardised form is to be found on the last page of this register. Completed forms, with attached sheets as necessary, should be returned to the compiler: Dr Barrie O. Pettman, Director, International Institute of Social Economics, Enholmes Hall, Patrington, Hull, N. Humberside, England, HU12 OPR. Any other comments on the register will also be welcome.

The modern revival of “Austrian economics” dates to the South Royalton conference of 1974 (Vaughn, 1994, pp. 103–111). At that time, neoclassical orthodoxy excluded evolutionary concepts. It was, in Ludwig Lachmann’s memorable phrase, “late classical formalism” (1977, p. 35). Opposition to neoclassical orthodoxy was part of the definition of Austrian economics. It formed part of our identity. Today it is no longer clear what “orthodoxy” is or whether current mainstream economics is “neoclassical” at all (Colander et al., 2004). One of the more salient changes in mainstream economics over the last 30 years is the introduction of evolutionary ideas. Mainstream economics is rich with evolutionary concepts. Evolutionary game theory, for example, is certainly a part of today’s standard toolbox. Thirty years ago, it did not even exist.¹ Some of the evolutionary ideas entering mainstream economics are similar or identical to ideas from the Austrian tradition. In this situation, it is no longer clear what the Austrian differentiae are. I hope this volume will help to sort out some of the issues relating to Austrian economics and one group of evolutionary ideas, namely, those of evolutionary psychology.

Purpose – Acknowledging that the field of neuroscience is expanding rapidly and the implication of recent neuroscientific advances on the study of politics is equally vast, this chapter will focus primarily on three key areas of convergence that have influenced the direction of neuropolitics: first, decision-making (emotions, preferences, and voting behavior); second, research on in-group/out-group relations, such as coalitional groupings and discrimination and prejudice; and, third, the rise of neuroeconomics.

Approach – This chapter is concerned with the intersection of political science and neuroscience and discusses how recent technological and theoretical developments in the latter are greatly contributing to the field of neuropolitics.

Findings – The insights generated by neuroscience permit the study of politics to be anchored on a scientific foundation for the first time. In turn, this opens the door to a renaissance in the political psychology subfield of political science, as the scientific origins of political behavior are revealed.

Research implications – The ongoing revolution in neuroscience is producing insights into international political behavior that is largely unacknowledged by political scientists.

Value – The implications for domestic and international policy are major. Fundamentally, this is because neuroscience allows us to comprehend better the origins of human political behavior.

The librarian and researcher have to be able to uncover specific articles in their areas of interest. This Bibliography is designed to help. Volume IV, like Volume III, contains features to help the reader to retrieve relevant literature from MCB University Press' considerable output. Each entry within has been indexed according to author(s) and the Fifth Edition of the SCIMP/SCAMP Thesaurus. The latter thus provides a full subject index to facilitate rapid retrieval. Each article or book is assigned its own unique number and this is used in both the subject and author index. This Volume indexes 29 journals indicating the depth, coverage and expansion of MCB's portfolio.

The purpose of this chapter is to assess the importance of individual social capital characteristics in determining wages, both directly through their valuation by employers and indirectly through their impact on individual occupational choice. We find that a person’s level of sociability and care for others works through both channels to explain wage differences between social and nonsocial occupations. Additionally, expected wages in each occupation type are found to be at least as important as a person’s level of social capital in choosing a social occupation. We make use of restricted 2000 Decennial Census and 2000 Social Capital Community Benchmark Survey.

Political science is often derided for being a “soft” science, one unable to generate hard predictions about political behavior, or without the ability to test its hypotheses, unlike physics, biology, or, among the social sciences, economics. Standards of hypothesis testing, data collection, and testing were unfairly seen to be lacking in comparison with the hard sciences. Accordingly, political scientists often had to struggle to have the knowledge produced about political behavior taken seriously. It would not be too remiss to identify an inferiority complex among political scientists, when they discussed the pantheon of scientific disciplines and their low position in it.

This study sought to highlight the conceptual and empirical grounds precluding accuracy in property valuation thereby exposing the limitations of valuation as proxy for actual transaction price and as basis for performance measurement for property investment. As a way of gauging the current level of awareness on the subject of valuation accuracy among Nigerian valuers (estate surveyors/appraisers) and to ascertain their response to the worldwide phenomenon, the study also included an empirical investigation of the perception of principal stakeholders in Lagos, Nigeria.

For primary data, the study employed questionnaire survey based on cluster sampling technique; while secondary data were sourced from existing literature and results of previous empirical studies.

“True market value” is unattainable; while valuation rarely identifies its target – the transaction price as surrogate of the “true market value”. In Nigeria, considerable gap exists between expectations and realities in valuation accuracy.

While efforts devoted to improving the accuracy of property valuation are laudable, the study revealed the extent to which such improvement is feasible.

The study suggested measures that would help Nigerian valuers hone their skills for improved level of accuracy; while funds managers and other valuation end-users are cautioned against blind use of valuations as performance yardstick for property investments.

The ideology of the New Right draws many of its foundational concepts from the work of Adam Smith. This appropriation and vulgarization of Smith′s work constitutes a major injustice to this seminally important theorist. In particular, the moral underpinnings of Smith′s project are often ignored, as are his insights on the potential dysfunctions and pathologies a capitalist society might foster. Most critiques of capitalism are launched from a Marxian‐based perspective. Finds, however, that by examining post‐Rogernomics New Zealand in light of the potential dysfunctions identified by Smith, the father of capitalism himself proves to be the most trenchant critic of the current order.

The purpose of this paper is to investigate how active labour market policy (ALMP) training programmes and hiring subsidies increase or decrease differences in the unemployment risk between lesser and higher educated people during an economic downturn. A focus is put on potential job competition dynamics and cumulative (dis)advantages of the lesser and higher educated.

The paper uses multi-level data. The fifth wave (2010) of the European Social Survey was used and combined with macro-level data on labour market policies of the OECD. The sample consisted of 18,172 observations in 19 countries.

The results show that higher levels of participation and spending on training policies are related to a smaller difference in the unemployment risks of the educational groups. Higher training policy intensity is associated with a lower unemployment risk for the lesser educated and a higher unemployment risk for the higher educated. This implies that the lesser educated are better able to withstand downward pressure from the higher educated, thereby, reducing downward displacement during an economic downturn. Hiring subsidies do not seem to be associated with the impact of education on unemployment.

The paper adds to the discussion on ALMP training and hiring subsidies that are primarily rooted in the human capital theory and signalling theory. Both theories ignore the social context of labour market behaviour. The job competition theory and cumulative (dis)advantage theory add to these theories by focussing on the relative position of individuals and the characteristics that accompany the social position of the individual.