A free market bailout alternative?

It has been more than 3 years since the collapse of the investment bank Lehman Brothers and the beginning of the Troubled Asset Relief Program. Most recently, the sovereign debt crisis in Europe has led to the bailout of the governments of Ireland, Portugal and Greece. A main reason behind these bailouts is to support European banks loaded with government bonds on their balance sheet. In this article we analyze the detrimental consequences of the public bailout in 2008 and argue that a free market alternative existed. The alternative of a private bailout outlined in this article, consisting of the conversion of liabilities into equity and a private capital increase, largely avoids the problems of a public bailout. Similarly, a public bailout of governments of the Eurozone to sustain banks may be detrimental.     

Politicization,banking experience and risk in savings banks

During the global financial crisis, criticism of the politicization and lack of professionalization of the savings banks has taken a central position in the political debate. The aim of this article is to analyze if the political presence of governing bodies in Spanish savings banks has been reflected in their various risk-taking behaviors before and during the financial crisis. We will also analyze whether the influence of the chairman’s banking experience matters. The results do not provide evidence that the composition of the boards of savings bank, or even their politicization, have played a role. However we show that savings banks run by a chairman with previous banking experience are likely to be significantly more solvent and less volatile.     

Enhancing Consistency in Sentencing: Exploring the Effects of Guidelines in England and Wales

Objectives

The development and application of methods to assess consistency in sentencing before and after the 2011 England and Wales assault guideline came into force.

Methods

We use the Crown Court Sentencing Survey to compare the goodness of fit of two regression analyses of sentence length on a set of legal factors before and after the assault guideline came into force. We then monitor the dispersion of residuals from these regressions models across time. Finally, we compare the variance in sentence length of equivalent types of offences using exact matching.

Results

We find that legal factors can explain a greater portion of variability in sentencing after the guideline was implemented. Furthermore, we detect that the unexplained variability in sentencing decreases steadily during 2011, while results from exact matching point to a statistically significant average reduction in the variance of sentence length amongst same types of offences.

Conclusions

We demonstrate the relevance of two new methods that can be used to produce more robust assessments regarding the evolution of consistency in sentencing, even in situations when only observational non-hierarchical data is available. The application of these methods showed an improvement in consistency during 2011 in England and Wales, although this positive effect cannot be conclusively ascribed to the implementation of the new assault guideline.     

Differences in Physical Fitness and Body Composition Between Active and Sedentary Adolescents: A Systematic Review and Meta-Analysis

Journal of Youth and Adolescence - Previous research analyzing the differences in physical fitness and body composition between active and sedentary adolescents aged 12–16 has not provided...     

First Generation in Chilean Higher Education: Tension between Access and Inclusion in a Segmented University System

We analysed the Chilean university student selection processes, comparing ‘First Generation’ and ‘Continuist’ students, using the Chilean Higher Education population databases (2000–2015). Findings confirm that 60 percent of participants in the selection process are First Generation students. The data registers an increasing self-exclusion phenomenon. Of the students who did not take the selection test after enrolling, 80 percent are First Generation and 18 are enrolled in a selective university, compared to 44 in the Continuist conglomerate. These differences may be explained by cultural capital in the Bourdieu sense, in conjunction with a diversified, massified and marketalised higher education system.     

Hungarian Language and Law: Developing a Grammar for Social Inclusion,a Vocabulary for Political Emancipation. Special Issue (IJSL)—Editorial Preface

International Journal for the Semiotics of Law - Revue internationale de Sémiotique juridique - Having been invited by editor-in-chief, Professor Anne Wagner, to edit the present special...     

Development of an instrument for assessing the quality of forensic evidence and expert testimony from three feature-comparison methods: DNA,voice, and fingerprint analysis

In a context of rising violence and long-lasting impunity, in 2008, Mexico's criminal justice system underwent a radical change from an inquisitorial model to an adversarial one, to make it more effective, transparent, and expeditious. The new system tasked judges with publicly determining the admissibility of forensic evidence, as well as assessing its technical quality and probative value—tasks for which they currently receive little to no training. With the aim of contributing to the consolidation of the adversarial model, a comparative framework—in the form of a checklist—of the analysis of fingerprints, DNA samples, and voice recordings was created. To do so, a review of the academic literature, published reports, and guidelines was performed. The collected data were synthesized and submitted to a panel of Mexican judges, who provided feedback on its adequacy. The framework focuses on the steps on which quality assurance of forensic evidence depends, organized in five discrete stages that span from the collection of samples at the scene of a crime to the presentation of evidence at trial, specifying the main technical criteria experts should state to allow a decision maker to examine its accuracy and reliability. Differences and commonalities among the three methods were identified, particularly in terms of how qualitative and quantitative analyses are performed in each. Besides its potential usefulness as an aid for judicial decision-making, the checklist could be a valuable resource for training programs aimed at judges, as well as quality assurance programs.     

The communitarian revolutionary subject: new forms of social transformation

Abstract

The hope for a unique revolutionary actor in the twentieth century evaporated as a result of the weaknesses of social organisations. This paper examines the potential of an almost-forgotten group of revolutionary actors – collectively organised and deliberately involved in processes of social and productive transformation with a legitimate claim to territory – whose present-day activities involve them in concerted processes to consolidate a different constellation of societies on the margins of the global capitalist system. Indigenous and peasant communities throughout the Americas are self-consciously restructuring their organisations and governance structures, taking control of territories they claimed for generations. They are also reorganising production to generate surplus, assembling their members to take advantage of underutilised resources and peoples’ energies for improving their ability to raise living standards and assure environmental conservation and restoration. These communities are not operating in isolation. They coordinate activities, share information and build alliances. Hundreds of millions of people are participating in this growing movement; they occupy much more than one-quarter of the world’s land area. There is great potential for others to join them, expanding from the substantial areas where they are already operational. Global social networks are ensuring that this dynamic accelerates.     

‘Democracy under Threat’: The Foundation of the Opposition in Venezuela

This article sheds new light on how the Venezuelan Opposition was created and, more widely, on contemporary Venezuelan politics. By focusing on the Opposition's articulation of democracy, the article examines how this movement became possible and how it succeeded in maintaining support. Opinion articles covering the period October 2001 to April 2002 were analysed using the theoretical framework of logics within discourse theory. The article argues that although the Opposition succeeded in maintaining its support throughout Chávez's government, it contributed to the polarised politics that currently characterises Venezuela.     

Improvising Peace: Towards New Social Contracts in Tunisia

ABSTRACT

Eight years after the Arab Spring revolutions, Tunisia's state and citizens are crafting an increasingly resilient national social contract, despite setbacks. This case study examines what is driving Tunisia's efforts, focusing in particular on key transition initiatives – including a national dialogue and a forward-looking constitution adopted by broad consensus, following nation-wide consultations. The case examines how informed and empowered Tunisians built these structures to leverage the inherent resilience capacities of the people, which developed throughout state and civil society formation, women's movements, labour movements, and civic education. The research suggests that two issues that gave rise to the revolution have remained particular challenges for efforts to mediate and address conflict: political and social polarisation and lack of livelihoods. It reveals how Tunisians are calling for more inclusion and institutionalised citizen engagement as a means to address them. Conclusions point to how post-revolution, democratisation gains as well as values of compromise, tolerance, dialogue appear to be immunising Tunisia against irreparable reversals and are laying the foundations for sustainable democratic peace.