Between the ‘Bank Screw’ and ‘Affording Assistance’. Rules,Standards, and the Bank Charter Act of 1844

This article explores a dilemma at the centre of the monetary order: how to counter inflation eroding the value of money and simultaneously allow bank-created credit to meet the needs of an expanding economy. Building on recent scholarship on the history of money, the article analyses the Bank Charter Act of 1844 and the financial crisis of 1847 to reveal a response to this dilemma which continues to shape the modern context. That response relies on ex ante restrictive measures in a bid to limit the discretion of the monetary authorities and cultivate financially prudent behaviour. Yet the history of the mid-nineteenth century exposes the challenges faced by those who enforce such rules, challenges which tie the mid-nineteenth century to the post 2008 reforms in both the US and the Eurozone, and reveal the ongoing force of the dilemma: that simultaneous desire for both expansive credit and sound money.     

The No‐men of England: The Geordie Revolt that Defeated the Scotland and Wales Bill in 1977

The Scotland and Wales Acts 1978 failed on multiple criteria. Although devolution of powers to Scotland and Wales was a principal policy of the Labour governments in office from 1974 to 1979, it was defeated in a guillotine vote in 1977. That defeat was orchestrated by the leaders of Tyne & Wear County Council, angry that a government of their own party was apparently neglecting their region in favour of Scotland. The project was rescued in two separate bills, but a further rebel amendment inserted a minimum assent condition in the required referendums. The people of Wales rejected the devolution they were offered. The people of Scotland accepted it, but by a margin that failed to cross the threshold. The resulting vote of confidence brought down the Labour government in March 1979. The role of Tyne & Wear County Council in killing the first bill has never been fully acknowledged. The lessons of the story for current devolution policy are explored. If the UK remains a single country, any policy for tax transfers must be fair to the English as well as to the people of the other three territories.     

Korea and the global economic crisis

Abstract Korean policy-makers constructed the global economic crisis as a purely external threat to the domestic economy. This understanding of the crisis supported a selective retreat from neo-liberalism. More problematically, the construction of the crisis as an exogenous phenomenon allowed policy-makers to focus on maintaining short-term growth without seriously addressing the structural weaknesses of the economy that the crisis should have drawn attention to. Levels of household debt in Korea have risen since the crisis and are considerably higher than in the USA. Equally, the economy remains over reliant on exports as a source of growth.     

Doing Politics: Journey to the Centre of the (Academic) Universe: 20 Steps on Getting Published in Journals

As postgraduate students, researchers or junior lecturers, we all aspire to climb the highest peaks of academic life, to bask in our reflected glory and to have the (small disciplinary) world at our feet. Yet how do we assail those peaks? More often than not, they seem like sheer cliff faces or mountain ranges where the noviciate assemble at the bottom and gaze skywards in disbelief. When we look around at academics who have successfully scaled those heights, it is obvious that an effective publication record is essential, where refereed journal articles are particularly prized. Yet the numbers who gather to attempt their own ascent ask the question – is there any straightforward publication route the beginner can follow? Surely we cannot all be left to cut our own path without really knowing where, how, or even whether we should be travelling at all? This article argues that writing academic journal articles has been mystified. For many wanting to get started, it seems like the final destination is a secret place, somewhere that you might stumble across but one where the locals jealously guard the short-cuts. Here we aim to de-mystify journal article writing and provide 20 steps for the prospective writer. These 20 steps, however, provide more a series of useful directions than a definitive map of the terrain. As beginning academics themselves, the authors are, at best, merely amateur cartographers.     

Rational Choice and Interpretive Evidence: Caught between a Rock and a Hard Place?

Following Green and Shapiro's critique, debate about the value of rational choice theory has focused upon the question of its relationship to what we call 'external', largely quantitative, empirical evidence. We argue that what is most striking about rational choice theory is, however, its neglect of interpretive evidence. Our survey of 570 articles, published in the American Political Science Review and the American Journal of Political Science between 1984 and 2005 employing rational choice theory, revealed that only 139 made even the most cursory use of interpretive evidence. Does this matter? We argue that the absence of interpretive evidence undermines rational choice's explanatory credentials. However, we also argue that the admission of interpretive evidence risks rendering redundant the rational choice element of any explanation. This is the rock and the hard place between which rational choice is caught. In the final part of the article we distinguish those cases where rational choice may prove useful, namely those circumstances in which interpretive evidence either cannot be relied upon or does not subsume that which an explanation is intended to achieve.     

Putting the nation back into ‘the international’

Alex Callinicos and Justin Rosenberg have both drawn on the concept of uneven and combined development to resolve what they see as deficiencies in international relations theory: in the case of the former, the absence of a non-realist explanation for the persistence of the states system; in the case of the latter, the absence of a sociological dimension to geopolitics. However, Callinicos omits any consideration of the ‘combined’ aspect of uneven and combined development, while Rosenberg ascribes characteristics of transhistoricity and internationality to uneven and combined development which it does not possess. Against attempts to either restrict or over-extend use of the concept, I will argue that its theoretical usefulness depends on understanding the limits of its spatial and chronological reach. An alternative, if still partial, explanation for the continued existence of the states system will emphasize the continuing indispensability of nationalism as a means of both containing class conflict within capitalist states and mobilizing support for ‘national capitals’ engaged in geoeconomic and geopolitical competition.     

Health characteristics of older police custody detainees in London,UK

The number of older adults involved in the criminal justice system is rising. Little is known about the state of health in older people who are arrested. This study compared characteristics and health care needs of older police custody detainees with their younger counterparts. The health characteristics of 57 police detainees aged over 50 were compared with 543 younger detainees. Older detainees had significantly higher rates of physical illness and risk of alcohol withdrawal. Although there were equivalent rates of mental disorder and drug taking compared with younger detainees, a higher proportion had presentations consistent with cognitive impairment due to possible dementing processes. Over 80% of older detainees were recommended to have a health assessment in police stations based on their presentation. Police detainees over 50 should be considered to have a health assessment as routine procedure. Further investigation should also be conducted into cognitive impairment in this group.     

The EU’s response to the global financial crisis and sovereign debt crisis

Since the sovereign crisis erupted in the autumn of 2009 when the true scale of the Greek fiscal deficit was revealed, the European Union (EU), and especially the euro area, has staggered from crisis to crisis. Major initiatives have, however, been taken to improve economic governance and to put in place a more resilient framework for the euro. This article assesses how the EU has responded to the crisis and offers explanations for why the reform process has been slow and indecisive. It shows that potentially enduring solutions are on the table, but that they have been hard to introduce because of differing national perspectives and disagreements about how the burdens of adjustment should be shared. The article concludes by setting out plausible options and explaining what they entail.