How Did the Spanish Financial System Survive the First Stage of the Global Crisis?

This article analyzed the impact of the global crisis on the Spanish financial system between 2008 and 2010. It shows that, overall, the performance of the largest Spanish financial institutions was positive. The article examined why, and outlined some lessons. It contendedthat this response was largely driven by institutional, political, and cultural factors. At the same time, the article showed that as the crisis intensified, Spain's banking sector could not escape its dramatic effects. Deteriorating economic conditions, the implosion of the real estate market, the dependence on wholesale funding, weaknesses in the regulatory framework, and the role of the Bank of Spain all helped to explain this reversal. Finally, the article considered the Spanish experience within the framework of the varieties of capitalism literature. It showed that differences among financial systems persist. Indeed, in Spain, the crisis has led to extensive regulatory intervention, reinforcing the preexisting model.     

Is the Death of Inheritance Tax Inevitable? Lessons from America

In 2001, George Bush repealed estate tax in America. This was a shock to many in the US as inherited privilege had never been popular in a country where individuals were supposed to secure the American Dream through their own efforts. The tax had existed for over a century and only 2 per cent of the richest Americans paid it. But the repeal lobby managed to build an unlikely and broad alliance against the 'Death Tax' (as they managed to rename it). The key to their campaign was a moral case against the tax, illustrated with a few well-chosen narratives. The opposition fought back, ineffectively, with pragmatic arguments and statistics. This paper will apply lessons from America to the UK politics of taxation. It will focus on the role of lobby groups and the power of moral arguments and narrative evidence over more pragmatic arguments and 'scientific' forms of evidence.     

Why Is the Estate Tax so Controversial?

There are some social issues whose significance for society nobody would seriously question but which nevertheless receive only scarce attention in sociological research. One of these is the bequest of private wealth from one generation to the next. It is currently estimated that about 550 billion dollars are transferred annually in the United States, amounting to more than 4% of the American gross national product (Havens and Schervish 1999). Not only is this a huge amount of wealth that changes ownership, but the bequest of wealth speaks to some of the core questions of sociological scholarship.

Is Biggest Best? A Comparative Analysis of the Financial Viability of the Brisbane City Council

Structural reform through forced mergers has been a dominant feature of Australian local government for decades. Advocates of compulsory consolidation contend that larger municipalities perform better across a wide range of attributes, including financial sustainability. Although empirical scholars of local government have invested considerable effort into investigating these claims, no one has yet examined the performance of Brisbane City Council against other local authorities, despite the fact that it is by far the largest council in Australia. This paper seeks to remedy this neglect by comparing Brisbane with Sydney City Council, an average of six southeast Queensland councils and an average of 10 metropolitan New South Wales councils against four measures of financial performance over the period 2008–2011.     

Is the Department of Homeland Security an Intelligence Agency?

The Department of Homeland Security (DHS) applies a variation of the intelligence cycle – the process of planning, collecting, processing, analysis, and dissemination of information characteristic of intelligence agencies – to mitigate the risk of terrorist attack and respond to national security breaches. The intelligence cycle helps DHS encourage voluntary security measures, serve its customers, and avoid economic disruption, but the Department's program setbacks and failures illustrate the difficulty of applying the intelligence model to the needs of homeland security. The Department's particular means of producing intelligence and information challenge the conventional conception and definitions of the intelligence cycle.     

What is an algorithm? Financial regulation in the era of high-frequency trading

Abstract

In response to the flash crashes and market manipulations blamed on high-frequency trading (HFT), algorithms have been brought inside the regulatory perimeter. This paper focuses on the most ambitious regulation directed at the practice: the algorithm-tagging rule in the German High-Frequency Trading Act. Fifteen interviews with stakeholders in the Act’s implementation serve to reconstruct how regulators defined an algorithm and help pose the question of to what extent regulatory definitions and data need accurately to represent financial practices to be useful. Although tentative in its findings, the research suggests that the algorithm-tagging rule may be providing valuable signals in the noise to trade surveillance officers and having virtuous effects on the cultures of trading firms. The conclusion argues that sociologists of finance should adopt a more balanced approach when evaluating regulatory technologies and heed MacKenzie’s 2005 call to open up their black boxes.     

What's the Harm? The Ethics of Intelligence Collection

Abstract

As the professional practice of intelligence collection adapts to the changing environment and new threats of the twenty-first century, many academic experts and intelligence professionals call for a coherent ethical framework that outlines exactly when, by what means and to what ends intelligence is justified. Reports of abuse at detention centres such as Guantanamo Bay and Abu Ghraib, the ever increasing use of technological surveillance, and the increased attention on the use of torture for intelligence collection purposes have all highlighted a need to make an explicit statement about what is and what is not permissible intelligence practice. In this article an ethical framework will be established which will outline under what circumstances the use of different intelligence collection activities would be permissible. This ethical framework will first underline what it is about intelligence collection that is ‘harmful’ and, therefore, should be prohibited under normal circumstances. The ethical framework then outlines a set of ‘just intelligence principles’, based on the just war tradition, which delineate when the harm caused can be justified. As a result, this article outlines a systemic ethical framework that makes it possible to understand when intelligence collection is prohibited and when it is permissible.     

How Stable is the Condition of Family Homelessness?

Although research has documented the majority of homelessness experienced by individuals and families in the US to be transitional rather than chronic, the mechanisms by which some families successfully escape homelessness while other do not remains relatively unclear. To provide more information to this area of inquiry, this study analyzed the transitional nature of homelessness for a sample of families with school-aged children who were homeless under the McKinney-Vento definition. By conducting a survey with over 1000 homeless families with children enrolled in two public school systems in Central Florida, we find that over a quarter of families exit homelessness in less than six months. We compare these families to those that remained homeless to examine the potential importance of demographic differences and other potential barriers to securing housing. Many of the commonly assumed barriers were not significant predictors of continued homelessness; the most salient difference between the groups was income underscoring the importance of employment opportunities for families to allow them to exit homelessness.     

Is the Future of SSR non-linear?

This article explores issues around security sector reform (SSR) and the involvement of the international community in peace-building. It argues that the international architecture which surrounds SSR privileges a particular form of knowledge that reflects a technocratic approach to security, and illustrates this by systematically examining the literature. Research on the literature itself shows that three core themes dominate: state-centric approaches, technocratic approaches, and approaches to local ownership. These comprise a current, linear approach to SSR that ignores much of the critical literature on peace-building. The article then goes on to draw on some of this critical literature to develop an alternative approach to SSR building using a non-linear approach which incorporates a better understanding of institutional politics, an emphasis on process rather than structures, and analysis of hidden politics.     

Power to the legal professionals: Is there an Americanization of European law?

Twelve years ago, Robert Kagan asked “Should Europe worry about adversarial legalism?” He answered this question with a qualified “no,” and identified a number of sources of resistance to such a trend. More recently, he broadened the issue in this journal by asking whether European countries experience an “Americanization” of their legal systems. The articles in this Symposium on the Americanization of European Law all revisit that question. The present article introduces the topic, discusses the elements that make up adversarial legalism, and summarizes and compares the findings of the articles in the Symposium. The articles find an increase in one dimension of adversarial legalism, namely, more legalism, that is, more litigation, more formalism, and more verdicts interfering with politics, but hardly any increase in adversarialism. Tenacious pre‐existing national legal and political cultures and institutions resist a further move in the direction of American style adversarial legalism. The mix of more litigation, more legalism, and more politicization, overlaid on the pre‐existing hierarchic authority of courts and legal functionaries has, however, strengthened the societal and political power of the judiciary vis‐à‐vis other powers. A professional elite is increasingly making the political choices that in a democratic society ought to be made by democratic representatives. Perhaps Europe should worry about this.     

Women on the Battleground: Does Gender Condition the Use of Negative Campaigning?

This article presents the findings of an explorative study examining to what extent and under which conditions gender influences the use of negative campaigning in Western Europe. It advances existing research in two ways. First, it is one of the few empirical examinations to date exploring gender differences in negative campaigning outside the US context. Second, it brings to bear novel data on this topic from British, Dutch and German parliamentary election campaigns between 1980 and 2006. In essence, this study explores whether we can find gender effects on the use of negative campaigning in Western Europe. These effects are less likely to be found in these three Western European countries than in the United States, because we expect smaller candidate effects in parliamentary systems than in presidential systems. The analysis suggests that female party leaders are significantly more likely to “go negative”. However, this difference between male and female party leaders is entirely due to the inclusion of Margaret Thatcher in the analysis. Without her, the difference disappears.     

Is Information Enough? The Effect of Information about Education Tax Benefits on Student Outcomes

There is increasing evidence that tax benefits for college do not affect college enrollment. This may be because prospective students do not know about tax benefits for college or because the design of tax benefits is not conducive to affecting educational outcomes. We focus on changing awareness of tax benefits by providing information to students or prospective students. We sent e‐mails and letters to students that described tax benefits for college, and we tracked college outcomes. For all three of our samples—rising high school seniors, already enrolled students, and students who had previously applied to college but were not currently enrolled—information about tax benefits for college did not affect enrollment or reenrollment. We test whether effects vary according to information frames and found that no treatment arms changed student outcomes. We conclude that awareness is not the primary reason that tax benefits for college do not affect enrollment.     

Is the Future of Electoral Reform Local?

The Electoral Reform Society has recently published two reports putting the case for electoral reform in local government. These suggest acceptance, in the wake of defeat in the 2011 Alternative Vote referendum, that the group's ultimate goal of change to the Westminster electoral system is unlikely to be fulfilled soon and that a more gradual strategy is therefore needed. This paper examines this shift by asking three questions. First, is Westminster electoral reform really a dead letter? Second, is local electoral reform more likely—and, if so, just how much more likely? Third, would local electoral reform matter in itself?     

Reforming the Spanish Senate: Mission Impossible?

Attempts in recent years to reform the Spanish Senate have proven futile. Using an institutionalist approach, this article highlights some of the weaknesses of the Spanish Senate in terms of its constitutional design and institutional development. The article explains how attempts at reforming political institutions are influenced by the historical context in which the institution was originally designed and the political context in which it has subsequently developed. The debate over Senate reform is analysed by examining the Senate's institutional setting and its relationships to broader political settings such as the legacy of the transition to democracy, political party discourse, and a competitive culture in Spain's system of intergovernmental relations.     

Congressional Oversight of Intelligence: Is the Solution Part of the Problem?

After presenting evidence that the current system of congressional oversight of intelligence is failing, this article analyzes how the system has been undermined by a toxic combination of problems: the intelligence committees' inherent informational disadvantage in relation to the executive branch, the jurisdictional morass in which the committees must operate and their own internecine partisanship. The article discusses a range of specific changes that could be made, but concludes that the critical ingredient in strengthening the oversight system is to emphasize the development of strong, nonpartisan committee leadership.     

Is an Early Start the Best Start?: Evaluating the Effectiveness of a Political Science Summer Bridge Program

Summer bridge programs are supposed to connect a graduating high school senior’s summer to their first semester in college, easing the transition away from home and into a university setting. Although research is plentiful on the programs, assessments regarding the overall effectiveness of such programs have been mixed (e.g., Cabrera, Miner, and Milem 2013 Cabrera, Nolan, Danielle Miner, and Jeffrey Milem. 2013. “Can A Summer Bridge Program Impact First-Year Persistence And Performance?: A Case Study Of The New Start Summer Program.” Research in Higher Education 54(5): 481–498.[Crossref], [Web of Science ®] , [Google Scholar]; Douglas and Attewell 2014 Douglas, Daniel, and Paul Attewell. 2014. “The Bridge and the Troll Underneath: Summer Bridge Programs and Degree Completion.” American Journal of Education 121(1): 87–109.[Crossref], [Web of Science ®] , [Google Scholar]; Grayson 2003 Grayson, J. Paul. 2003. “The Consequences of Early Adjustment to University.” Higher Education 46(4): 411–429.[Crossref], [Web of Science ®] , [Google Scholar]). As Cabrera, Miner, and Milem (2013 Cabrera, Nolan, Danielle Miner, and Jeffrey Milem. 2013. “Can A Summer Bridge Program Impact First-Year Persistence And Performance?: A Case Study Of The New Start Summer Program.” Research in Higher Education 54(5): 481–498.[Crossref], [Web of Science ®] , [Google Scholar]) note, many of the studies collect data from participants in a one-time satisfaction survey and/or do not have an equivalent group of students who did not participate in the program from which to compare effectiveness. Our proposed study mitigates these flaws by employing a nonequivalent-groups quasi-experiment (NEG). Our bridge program—called Early Start (ES)— tapped into social, emotional, and academic engagement, as we sought to integrate the students into the university and school communities while holding high expectations and actively involving them in their own learning (Tinto 2004 Tinto, Vincent. 2004. Student Retention and Graduation-Facing the Truth, Living with the Consequences. Washington, DC: The Pell Institute for the Study of Opportunity in Higher Education. [Google Scholar]). Results suggest that not only were students enrolled in our program better socially and emotionally integrated into the university during their first year but they also scored better on content-based political science questions at the end of the fall semester, compared to their non-Early Start peers. Finally, aggregated data indicate an increase in retention for Early Start participants.