The consequences of deregulation: A comparison of the experiences of UK building societies with those of US Savings and Loan Associations

It has been estimated that deregulation of US S&Ls will cost the US taxpayer ￡500bn in terms of the compensation paid out for the resulting scandals and failures. In contrast, the deregulation of UK building societies, although initially followed by a series of scandals and losses of ￡1bn., eventually resulted in substantially increased profitability. The social effects in the UK have been quite different to those in the US. As a result of the increased importance placed on profitability as opposed to mutuality, many homeowners have had their properties repossessed, and investors been mis-soId unsuitable investments. However, UK building societies, by a mixture of good luck and judgement, have avoided the principal regulatory pitfalls, which beset the S&Ls in terms of bankruptcies and fraud. This paper seeks to explain these different post-deregulation experiences. It extends to the UK the looting model of Akerlof and Romer (1993) and the managerial diversion model of Nichols (1972) which went so far to explain and anticipate, respectively, the US experience. This revised version was published online in July 2006 with corrections to the Cover Date.     

Ambassadors in the community? Labour Party members in society

A political party's members are its ambassadors in the wider community. Based on a survey of Labour party members in Nuneaton, this article investigates the extent to which party members qua party members are visible amongst their friends and colleagues. It finds that there are few closet Labour party members. Most are known to friends and (slightly less commonly) colleagues. Party members also articulate a political message, discussing politics with friends and work colleagues. Around half of party members believe that they influence others as a result of their discussions; of those who are asked their opinions by friends, almost three-quarters believe that they influence others. Labour party members in Nuneaton are thus a visible and articulate manifestation of the party. The article ends by considering whether this is likely to be true in other constituencies, for other parties, and at other times.     

Death fantasies of father-absent and father-present late adolescents

Parental perceptions of father-absent and father-present late adolescents were studied by having them create stories to selected pictures from the Thematic Apperception Test and the Michigan Pictures Test. Ratings on the manifest thematic content of the stories revealed that father-present females, but not males, introduced themes of death and loss involving the parents with significantly greater frequency than did late adolescents who had actually lost their fathers. One of the tasks of adolescence, as described in psychoanalytic writings, is decathecting internalized parental images. It is possible that father-present females produced significantly more death and loss themes because they were actively coping with their fantasies of parental loss. The significantly fewer fantasies of parental loss given by father-absent females is consistent with this psychoanalytic model which suggests that the loss of a parent at an earlier developmental period complicates the decathexis process in adolescence. Reasons for the failure to find differences between father-absent and father-present males are discussed, and suggestions for future research are provided.This research is based upon the doctoral dissertation of the first author.Received his Ph.D. in clinical psychology from the University of Texas at Austin; internship at the Children's Hospital Medical Center, Boston, Massachusetts. Current research interests include death and dying and adolescent personality development.Received his Ph.D. from the University of Minnesota. Current research interests include imaginary companions and fantasy in young children and adolescent psychosexual development.     

The United Kingdom: Federalism in Denial?

In May 1999, the United Kingdom took an historic step towardbecoming a regionalized state with the creation of the NationalAssembly for Wales and the Scottish Parliament. This articleoutlines the historical background and new government architectureof the UK. This new architecture must be understood within afederal model and as a possible step toward federalism, despiteofficial aversion to the term. Serious questions must be raisedabout whether the new intergovernmental mechanisms, such asthe Joint Ministerial Committee, will be effective, given thesevere asymmetries in the new system. Instead of a multilateralintergovernmental system, such as characterizes most federalsystems, three very different, bilateral intergovernmental arrangementsare developing between each territory and London.     

Scenes from a mall: Retail training and the social exclusion of low-skilled workers

In this article we examine how post-industrial Britain and Denmark undertake vocational training for low-skilled retail workers. Specifically, we evaluate whether leaders in training skilled industrial workers are also doing the best job with low-skilled service workers. While Danish retail is increasingly becoming a haven for low-skilled workers, British workers are gaining in skills levels with the transition to services even in the retail sector. While some suggest that social democratic countries have sacrificed the political interests of low-skilled workers in order to protect core manufacturing workers, we find no evidence of this. Rather, the high expectations of vocational training in Denmark have forged barriers to the easy admission of low-skilled service workers, while the British system provides more entry points for vocational training at different levels. The structures of coordination that had narrowed the gap between white-collar and blue-collar manufacturing workers during the industrial age are creating new cleavages in the post-industrial economy.     

Latinos/as in the criminal and juvenile justice systems

With few exceptions, prior explanations of racially disparate punishment have followed a dichotomous approach (i.e., African American versus Caucasian), due in part to the limitations of existing data. Researchers have either excluded Latino/a, defendants or treated them as a monolithic group. Consequently, there is not much on Latinos/as, whose experiences with the criminal and juvenile justice systems differ from those of African American and Caucasian. This article expands on current literature by providing a thorough overview of existing literature on Latino/as. It critiques this body of literature and lists ten common methodological flaws that may contribute to findings of equal treatment. Finally, it provides a concise summary of the main subgroups within the umbrella term ‘Latino/a’ to highlight the heterogeneity within this classification.