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We consider a domestic monopolist who is protected by an import quota on the product he produces. He faces a domestic demand curve which is characterized by a constant price elasticity. He is unable to export and has an upward sloping marginal cost curve. We demonstrate that in this case his employment of labor rises with the import quota until imports rise to a fraction lie of domestic output where e is the elasticity of domestic demand. Thus, the employment maximizing quota sets permissible imports at a fraction of domestic output which is at least as high as the reciprocal of the elasticity of demand. We also make a case for liberalizing all the way right away, "cold turkey liberalization. "

Recent studies on the welfare implications of internationally mobile capital for a country employing commercial policy have been restricted to constant‐returns‐to‐scale (CRS) production models. It is generally concluded that the pursuit of such policies is welfare‐decreasing under CRS conditions. The analysis to encompass variable‐returns‐to‐scale (VRS) is generalised and it is shown that there is an optimal (second best) combination of import tariff and foreign capital subsidy that will not be “immiserising” for an increasing‐returns‐to‐scale (IRS) industry.

Immiserizing growth is impossible when the growing country follows nationally optimal policies and the growth stimulates no foreign reaction. However, this solution may leave other nations with sub‐optimal policies, and it may lead to a global misallocation of resources. It is demonstrated that immiserising growth caused by a deterioration in the term of trade is possible when globally optimal policy rules are followed. Both weak global optimality, where all nations follow nationally optimal policies, and strong global optimality, where an efficient world allocation of resources is maintained, are examined. However, when the terms of trade are not determined by market power, for instance under discriminatory pricing or by bilateral negotiation, immiserising growth is unlikely.

Illegitimacy is widely identified as a cause of revolution and other forms of transformative political change, yet when and how it affects these processes is ambiguous. We examine when and how illegitimacy affects the stability of political regimes through a historical analysis of South Africa's National Party (NP) and its apartheid regime, which lasted from 1948 to 1994. Many scholars of South Africa identify the regime's illegitimacy as a catalyst for the end of apartheid. Yet, consistent with assertions that illegitimacy does not result in political instability, the NP maintained power for decades despite a domestic crisis of legitimacy and a global movement that decried the apartheid regime's illegitimacy. Interrogating this contradiction, we detail how the regime's illegitimacy contributed to the negotiated revolution in South Africa when it resulted in unacceptable costs for the allies that the government depended on for survival, motivating those allies to withdraw support. Building on our findings, we detail how turning attention to the ways that illegitimacy affects relationships with allies – rather than particular outcomes, such as revolution or state failure – allows us to account for variation in both when and how illegitimacy matters.

This chapter examines the connections between race and class divisions and examines how they shape racial inequities in the distribution of resources, power and privilege. Throughout history, racial identity has been a key factor in determining a person's position in modern capitalist societies. As such, issues of race and class have preoccupied sociologists and other scholars with diverse ideological orientations. This is highlighted in debates around the nexus of race and class in the production of racial structures, laws and institutions that legitimate and perpetuate the normalisation and centrality of whiteness. This chapter summarises some of the historical and ongoing debates, providing a synthesis of how race and class divisions continue to shape contemporary intergroup relations and social policy. It delves into racial capitalism and how race intersects with other social identities to determine socio-economic hierarchy in many western countries.

To highlight the key‐role of macroeconomic management in a dysfunctional emerging market economy.

The analysis – focused on the particular case of Romania, where the transition to market economy is underway – relies on two basic hypotheses. According to the former, the reform programs implemented during the 1990s failed to take into account some fundamental correlations such as the one between reform measures and the real state of the economy (more specifically, the presence or absence of distortions). Another important correlation must exist between various types of macroeconomic policies, whether designed to trigger changes in the real economy (e.g. transfer of ownership, etc.) or aimed at securing macro‐stabilization. According to the latter hypothesis, overlooking such correlations will jeopardize both macroeconomic equilibrium and the soundness of future growth.

The data illustrating the evolution of Romania's economy during 1995‐2003 confirm the aforementioned hypotheses. Although the economy started growing at a fairly‐high rate after 1999, growth has been mostly immiserizing and hardly sustainable since. This outcome can be illustrated by using well‐known models such as Bhagwati's generalized theory of distortions and welfare and Mundell's approach of macroeconomic policies under imperfect capital mobility.

The use of the “immiserizing growth” concept in depicting Romania's economic evolution after 2000 is most likely an element of originality. The paper might be valuable for emphasizing the imperfections of the Romanian “government‐central bank” tandem.

The aim of this publication is to list the catalogues of the Department of Manuscripts which are in regular use. Catalogues which have been superseded by later publications are not normally included, since whatever their historical or bibliographical interest they are no longer everyday working tools. To save space in cross‐reference, the catalogues, etc., here listed have been numbered serially in Clarendon type, thus: 31. This numeration has no other significance.

Over the past few decades, academic debates on small- and medium-sized establishments (SMEs) have focused on the challenges of globalisation, especially for the independent small producers outside the niche markets. However, the purpose of this paper is to highlight the limits of these sorts of evaluations arguing that globalisation can also provide opportunities for the valuable contributions of such enterprises.

Drawing on an ethnographic case study in Turkey, inquiries in the paper are essentially predicated on unstructured conversations with the owner/manager of a shipyard investigated, workplace observations and supplementary conversations with employees as well as elite interviews with the Portal Authorities. Additional interviews were also conducted with the owner/managers of three other shipyards.

The evidence suggests that the opportunities of globalisation can be consolidated with certain HRM strategies including a tailored demarcation of work-life balance, strategized retention for skills shortage, individualised grievance resolutions, employees-led work design, team work, “in-turn” and “mobile” employment. Likewise, logistic management strategies such as downsizing, investment diversification, “queasy-niche” production, use of communication technologies, networking and opening up to global markets may prove highly useful. Even so, the sustainability of independent smaller businesses requires responsive trade regulations about, for instance, tender offers, fair competition and the conflict of interests in addition to “tough-love policies” to protect employment rights.

The paper rectifies the lack of systematic research into the implications of globalisation for the SMEs in shipbuilding industry and their managerial responses.