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This chapter argues that questions over what kinds of money Americans should use, often assumed to be settled by the establishment of the Federal Reserve in 1913, persisted throughout the twentieth century and in ongoing debates about who should be allowed what kinds of credit. It narrates the cultural forms of this history by combining critical accounts of the key transitions in the credit economy with new readings of The Wonderful Wizard of Oz. The first section argues that Frank Baum’s 1900 novella is better read through the emergence of retail credit than through the bimetal debates that have dominated its critical reception. The second section reads Victor Fleming’s 1939 film The Wizard of Oz through the debates about the ending of the depression and the shape of New Deal credit and argues that the film’s celebration of this credit obscured its political implications. The final section reads Sidney Lumet’s 1975 The Wiz through the crisis in the New Deal, and the subsequent emergence of neoliberal governance, that the New York financial crisis of the mid-1970s signalled.
This chapter examines the criminalization of migration through the lens of transnational legal orders (TLOs). By doing so, it seeks to explain dramatic episodes such as the Diciotti refugee incident in Italy, but also provide socio-legal analysis for far-reaching practices such as immigration detention, removal, and refusal of entry, all of which depend on the development of a formalizing legal order and specific regulation such as the EU Returns Directive that transcends national boundaries. It argues that affluent democratic societies of the Global North are in the middle of a major transformation of governance while transnational legal orders are at the center of it.
This article explores the response of the child welfare system in Germany to the recent refugee crisis. Drawing on administrative data and qualitative interviews with administrators, front-line workers and refugee youth in Nuremberg, the article provides a contextualized account of how the crisis led to the collapse of established bureaucratic procedures, new forms of interagency collaboration and a flexible distribution of responsibilities and tasks. Combining a street-level bureaucracy (SLB) perspective with insights from the literature on crisis and policy change, the analysis shows how the responses of front-line workers effectively altered the content of services, introduced new actors and expanded the professional capacity of the local child welfare system. On a broader level, the findings indicate that front-line practice is not merely guided by policy mandates, but also responds to situational and institutional circumstances. For the child welfare system in Nuremberg, the findings raise important questions about the extent to which aspects of the crisis response will remain a part of the service delivery process moving forward, and whether the recent experience will better prepare them for future crises.
This article investigates Maimonides’s ethos of disclosing “secrets” and explores its Islamic origins, focusing on sources neglected by earlier scholarship concerning the Guide of the Perplexed. I turn from the prevalent method by which the Guide has been studied for decades, namely, as a work at the core of which lie strategies and an ethos of concealment. In lieu of the conventional method, I go in a very different direction by inquiring into the modes that Maimonides used in fashioning his Guide as a work that involves a self-proclaimed exceptional act of revelation of secrets and a breach of the boundaries of concealment. The resulting textual investigation demonstrates that clusters of motifs presented in these sources, as well as structures of arguments, were retained in their cultural migration. This exploration allows me to illuminate new aspects of the question of the genre of Maimonides’ Guide, its sources, and its author’s intertextual art of writing.
This article analyses the transatlantic financial crises of 1873 from the vantage point of the three countries that were most affected by it, Austria, Germany, and the United States, focusing on the experience of economic globalization and disintegration for actors on both sides of the Atlantic. It compares the perception of financial commentators and financiers of the panics in 1873, when the experience of integration was asymmetrical, and more pronounced in Germany and Austria than in the United States. It further argues that this asymmetrical experience of contagion shaped the monetary debates of the 1870s in all three countries. Focusing on the interrelationship and coexistence of experiences of integration and isolation, the article maintains that, despite the panics’ near-synchronicity, financial globalization remained difficult to see.
The concluding chapter draws lessons from the analysis developed in the preceding chapters and offers a recap of the historical case study of the map of Kurdistan in line with the evolution of self-determination. It then looks at the situation of Kurdish politics in the context of the crisis in the Middle East today. Since the start of the war in Syria, Kurdish nationalist politics gained a new momentum in the Middle East. The war in Syria led to the emergence of a de facto Kurdish region in northern Syria under PYD control and changed Syrian Kurds’ relations with the international community. Kurds in Iraq held an independence referendum much to the annoyance of Iraq and other regional states. Kurdish political party in Turkey passed the ten percent electoral threshold and entered the parliament. Moreover, cross-border interactions between Kurds in Iraq, Turkey, Syria and Iran further increased during instability and conflict in Syria and Iraq and the fight against ISIS. The chapter assesses these developments and what they mean for the idea of Greater Kurdistan.
While the International Debt Crisis of the early 1980s was the most severe financial crisis since World War II and while national and international banking supervision was developing at that time, little is known about the response of supervisors to the deteriorating financial environment in the years preceding the crisis. Complementing the political and business history of the international debt situation, this article aims to unravel the international banking supervision side of the question. Based on archival material from the Bank for International Settlements (BIS) and various central banks, the article examines how the Basel Committee on Banking Supervision (BCBS), then emerging as the leading forum on international banking supervision, anticipated the International Debt Crisis through the prism of ‘country risk’. The article shows that the Committee refused to recommend strict regulations in this area. It argues that members adopted this position because of the lack of good information and the difficult position of banking supervision between macroeconomic issues and individual banks’ own responsibilities, but also because of somewhat excessive faith in market mechanisms. Their discussions on country risk shed light on critical challenges of banking supervision and, thereby, on the history of banking regulation and prudential thinking.
This paper analyses the mechanisms through which capital flows produced financial instability in Spain over a 165-year period. We study why and how capital bonanzas make crises more likely and severe, and whether their incidence varies depending on types of crises (currency, banking and debt crises). We conclude that most of them occurred in different monetary policy regimes, but they were associated with capital bonanzas in a liberal regulatory framework, both of which contributed to a higher likelihood and greater severity of crises. The analysis of the different monetary policy regimes, financial structures and the types of crises allows us to draw some policy implications that emphasise the need for sound financial regulation and supervision.
As more women attain executive office, it is important to understand how gender dynamics affect international politics. Toward this end, we present the first evidence that gender stereotypes affect leaders’ abilities to generate audience costs. Using survey experiments, we show that female leaders have political incentives to combat gender stereotypes that women are weak by acting “tough” during international military crises. Most prominently, we find evidence that female leaders, and male leaders facing female opponents, pay greater inconsistency costs for backing down from threats than male leaders do against fellow men. These findings point to particular advantages and disadvantages women have in international crises. Namely, female leaders are better able to tie hands—an efficient mechanism for establishing credibility in crises. However, this bargaining advantage means female leaders will also have a harder time backing down from threats. Our findings have critical implications for debates over the effects of greater gender equality in executive offices worldwide.
In this article, we examine how labour market policy interventions, notably short-time work (STW), affect voting behaviour in times of electoral downturn. We use the 2009 German general elections as an example. This is a particularly interesting case because the grand coalition of Christian democrats (CDU/CSU) and social democrats (SPD) was up for re-election against the backdrop of a major recession following the 2007/08 financial crisis and extensively used STW policies to counteract rising unemployment. Interestingly, STW policy and unemployment vary considerably between regions. We exploit this variance to create a unique dataset that combines regional information on STW policy and unemployment in 299 German electoral constituencies with individual data from the post-election survey. Our results show that especially the SPD profited from high STW rates at constituency level on election day, but this policy was insufficient to preclude the major losses social democrats suffered during the election. More generally, our results indicate that classic labour market policy can generate electoral support for social democratic parties, even as a “junior partner” in a grand coalition. Nevertheless, it remains unclear whether such support is sufficient for electoral victories.
Assisting the increasing number of tourists and foreign nationals exposed to crises situations in third countries—many of them far from home and extremely vulnerable—presents significant challenges. Despite the need to explore consular crisis management from an operational perspective, there are few studies that address the issue. This paper aims to describe the characteristics and context of consular crisis management operations based on personal experiences, scientific papers, grey literature, and key informant interviews.
Consular crisis management operations are conducted in a context where the stakeholders and the legal environment may differ from humanitarian or civil protection operations. The physical distance causes logistical challenges and demands specific considerations for both civilian and medical evacuation. Consular crisis management operations often include medical care, psychosocial support activities, and disaster victim identification (DVI) activities. Political and media interest may also add significant challenges to such operations. Therefore, specific knowledge, skills, and preparations are needed for both diplomatic crisis management professionals and health professionals. Further research on consular crisis management activities—as well as the concept of consular crisis management itself—is strongly needed.
The COVID-19 outbreak could be considered as an uncontrollable stressful life event. Lockdown measures have provoked a disruption of daily life with a great impact over older adults’ health and well-being. Nevertheless, eudaimonic well‐being plays a protective role in confronting adverse circumstances, such as the COVID-19 situation. This study aims to assess the association between age and psychological well-being (personal growth and purpose in life). Young–old (60–70 years) and old–old (71–80 years) community-dwelling Spaniards (N = 878) completed a survey and reported on their sociodemographic characteristics and their levels of health, COVID-19 stress-related, appraisal, and personal resources. Old–old did not evidence poorer psychological well-being than young–old. Age has only a negative impact on personal growth. The results also suggest that the nature of the COVID-19 impact (except for the loss of a loved one) may not be as relevant for the older adults’ well-being as their appraisals and personal resources for managing COVID-related problems. In addition, these results suggest that some sociodemographic and health-related variables have an impact on older adults’ well-being. Thus, perceived-health, family functioning, resilience, gratitude, and acceptance had significant associations with both personal growth and purpose in life. Efforts to address older adults’ psychological well-being focusing on older adults’ personal resources should be considered.
The rapid insurgence and spread of coronavirus disease 2019 (COVID-19) exceeded the limit of the intensive care unit (ICU) contingency plan of the Maggiore della Carità University Hospital (Novara, Italy) generating a crisis management condition. This brief report describes how a prompt response to the sudden request of invasive mechanical ventilation (IMV) was provided by addressing the key elements of health care system surge capacity from contingency to crisis. In a short time and at a relatively low cost, a structural modification of a hospital aisle allowed to convert the general ICU into a COVID-19 unit, increasing the number of COVID-19 critical care beds by 107%.
Crises such as the global pandemic of Covid-19 (coronavirus) elicit a range of responses from individuals and societies adversely affecting physical and emotional well-being. This article provides an overview of factors elicited in response to Covid-19 and their impact on immunity, physical health, mental health and wellbeing. Certain groups, such as individuals with mental illness, are especially vulnerable, so it is important to maximise the supports available to this population and their families during the pandemic. More broadly, the World Health Organization recommends “Psychological First Aid” as a useful technique that can help many people in a time of crisis.
One of the defining features of the early modern political order in Japan was the monopoly of the means of violence held by the samurai class. In the decades preceding the Meiji Restoration, however, some Japanese officials at the regional and local level began to advocate for the mobilization of commoners into militia. They were motivated by the belief that the existing samurai-based military and security forces were not sufficient to meet the challenges they faced - first, from foreign powers, and then, increasingly, from domestic disorder. Japanese historians have long been interested in these farmer-soldiers, or nōhei, generally with the goal of assessing the revolutionary implications of farmers taking up arms and forming militia. This chapter will take a different approach to the study of nōhei by situating them within a larger trend in local governance in the late Edo period. Nōhei militia were one of many examples in which local elites, motivated by the desire to restore order to communities they perceived to be in crisis, took on new leadership functions and intervened in new areas of public life.
Finance is often considered a constraining or compelling force in war. This article examines an alternative role of finance in war, asserting that investors can inform states about adversarial intentions and resolve under certain conditions. This signaling mechanism can reduce information asymmetry between states and decrease the probability of conflict. In the context of these theoretical expectations, I examine the case of Austria and the Rothschild Bank in the nineteenth century. I find that instead of being a constraining force on Austrian foreign policy, the Rothschilds helped inform Austria and other European powers during interstate crises. The information provided by the Rothschilds helped Europe avert war in several cases during the nineteenth century.
This study aimed to assess the published literature on non-technical skills in otolaryngology surgery and examine the applicability of any research to others’ practice, and to explore how the published literature can identify areas for further development and guide future research.
A systematic review was conducted using the following key words: ‘otolaryngology’, ‘otorhinolaryngology’, ‘ENT’, ‘ENT surgery’, ‘ear, nose and throat surgery’, ‘head and neck surgery’, ‘thyroid surgery’, ‘parathyroid surgery’, ‘otology’, ‘rhinology’, ‘laryngology’ ‘skull base surgery’, ‘airway surgery’, ‘non-technical skills’, ‘non technical skills for surgeons’, ‘NOTSS’, ‘behavioural markers’ and ‘behavioural assessment tool’.
Three publications were included in the review – 1 randomised, controlled trial and 2 cohort studies – involving 78 participants. All were simulation-based studies involving training otolaryngology surgeons.
Little research has been undertaken on non-technical skills in otolaryngology. Training surgeons’ non-technical skill levels are similar across every tested aspect. The research already performed can guide further studies, particularly amongst non-training otolaryngology surgeons and in both emergency and elective non-simulated environments.
Based on a thorough analysis of the BIS Annual Reports from the early 1970s to the late 2010s, this chapter traces the evolution of the BIS’s thinking on the international monetary and financial system. It demonstrates how – as a result of the growth of the Eurocurrency markets in the 1970s and of the sovereign debt crisis of the 1980s – the BIS’s traditional focus on exchange rates and their potential impact on monetary stability gradually shifted to global capital flows and to the risks posed by an increasingly complex and interconnected banking system. The 1995 Mexico crisis and 1997–8 Asian crisis reinforced this shift and led to an overriding concern with the procyclicality of the financial system as a potential threat to financial stability. While recognising that the focus of the BIS on a macro-financial stability framework has contributed a lot to advancing the work of the Basel-based committees and standard-setting bodies, the chapter also concludes that not much progress has been made in coordinating monetary policies or in addressing the fundamental problem of excessive elasticity of the financial system.
Financial crises have occurred repeatedly throughout history. This chapter starts by exploring the different types of crises: banking crises, sovereign debt crises, and currency crises. A banking crisis indicates that a significant part of a country’s banking sector has become insolvent after heavy investment losses, banking panics, or both. A sovereign debt crisis/default occurs when a government fails to meet interest or principal payments on its debt obligations. Finally, a currency crisis causes the value of a country’s currency to fall precipitously. The chapter provides facts and figures about financial crises, and discusses some theoretical models. A first set of models is related to the liability side of banks. Since banks use short-term deposits to finance long-term loans, they are vulnerable to massive withdrawals cumulating in a banking run. A second set of models looks at the asset side of banks. Shocks to fundamentals (e.g. a collapse in real estate prices or increased bankruptcies in the non-financial sector) can upset the business cycle, resulting in deteriorating asset quality that can trigger further banking problems.
This chapter discusses the transformation of the Bank for International Settlements from a predominantly European organisation into a truly global one. This transformation coincided with, and was the result of, the rapid rise in prominence of the emerging-market economies, particularly from the 1990s. Until the mid-1990s the BIS, although serving the global central banking community, was in terms of governance and organisation strongly dominated by the Group of Ten advanced industrial countries. Because of history and statutory constraints – but also because the G10 very much valued their close cooperation – this changed only gradually. The chapter outlines in detail how and why the BIS first expanded its shareholding membership and only then its internal governance structure to become truly representative of the global economy. The great financial crisis of 2007–8 further accelerated this process, which was basically concluded by the end of the 2010s, with all major central banks being represented on the BIS Board of Directors.