Critical Review: the politics of sovereign debt

In this article, I interrogate what is meant by ‘the politics of sovereign debt’, and examine how various authors, especially David Graeber, have addressed this question. More specifically, I seek to extend my contribution to the goals of the ‘Repoliticizing Debt’ workshop, which inspired this special issue, by proposing a theoretical framework for understanding the role of sovereign debt in mediating the contradictions of neoliberal capitalism, and by challenging dominant treatments of the sovereign debt crisis currently underway in Greece. I argue that the existing literature fails to help grasp the complexity of sovereign debt as a social relation, and that debt must be understood as what Marx refers to as ‘fictitious capital’, that is, capital backed not by a commodity transaction, but by a claim on future value. The management of confidence in the value of fictitious capital through the use of the ‘golden noose’ of debt is the key process to be understood in order to grasp the complexity of sovereign debt crises.     

A Comparison of Histomorphometric Data Collection Methods*

Abstract: Although many variables that skeletal biologists examine have been standardized, the actual techniques used to collect these data from bone thin sections vary. This project compares different methods of obtaining data (relative cortical area values) for histomorphometric research. One visual and three digital methods of histomorphometric data collection are compared: (i) Merz microscopic eyepiece counting reticule, (ii) flatbed scanner, (iii) overlaying multiple images of a thin section, and (iv) digital SLR camera with macro settings. The discussion includes a comparison of usability factors such as cost, time, user‐experience, and ease‐of‐use, which vary for each method. Values from the different methods are compared using ANOVA tests to evaluate inter‐method, inter‐observer, and intra‐observer variability. Intra‐observer error was greater for the microscopic method, although the error values are concomitant with experience. We found no statistically significant differences between the four methods examined, but certain caveats must be addressed when these methods are used.     

An Overview of the Courts Catalyzing Change Preliminary Protective Hearing Benchcard Study

This paper presents an overview of the Courts Catalyzing Change: Achieving Equity and Fairness in Foster Care Preliminary Protective Hearing Benchcard Study. In the fall of 2009, the National Council of Juvenile and Family Court Judges (NCJFCJ) began a study to examine the effects associated with judges' use of the Preliminary Protective Hearing Benchcard. For this study, data were gathered from case file information (both court and agency files) and from courtroom observations of more than 500 children in Los Angeles, California; Omaha, Nebraska; and Portland, Oregon. Data from a baseline sample were collected at each of the three sites, and judicial officers at each site were randomly assigned to either a Benchcard group or a control group. Benchcard implementation appears to be associated with more discussion and higher quality discussion of key dependency topics during preliminary protective hearings. Benchcard implementation also corresponds to increased judicial inquiry and parental engagement. Benchcard use also was associated with more family placements—placement with a charged parent, a non‐charged parent, or a relative—at the initial hearing and even more family placement at adjudication when comparing the same judges before and after Benchcard implementation. Similarly, the percentage of children who were reunified with the charged parent at the initial hearing and the adjudication hearing increased after Benchcard implementation.     

The National Governance and Policy Context of Social Impact Bond Emergence: A Comparative Analysis of Leaders and Skeptics

Abstract

Proponents of the Social Impact Bond (SIB) model put forward a value-for-money case for SIBs based on new resources, efficiency enhancements and innovation for social service delivery, suggesting broad potential for SIB uptake in varying national contexts. SIB use has however been concentrated in Anglo-Saxon liberal market economies. This paper analyses the possibility that SIBs are proceeding given their alignment with particular governance and policy regimes, as opposed to any universal superiority from a cost-effectiveness or efficiency perspective. A comparative analysis is undertaken of the United Kingdom and the United States, leaders in SIB implementation, with France and Germany. A range of indicators representing the adoption of neoliberal governance approaches are reviewed and linked to their complementarity with the SIB model. Policy implications for SIB governance are then explored.     

A Longitudinal Analysis of the Link Between Learning Disabilities and Juvenile Delinquency in Mexican American School-Age Youth

Students with Learning Disabilities (LD) are a heterogeneous group of children who share the common characteristic of school difficulty and failure. More students in American schools are identified as Learning Disabled than any other type of disability under current federal law. The present study is a longitudinal survey that was designed to (a) test four hypothesized mediating links within the School Failure Rationale connecting juvenile delinquency (JD) to LD, and (b) apply the School Failure Rationale in the context of a low Socioeconomic Status, all-Mexican American group of youngsters (n = 75; mean CA = 12.9; IQ = 88). A path analysis was conducted to determine significance between juvenile delinquency and the mediating variables of self-esteem, peer delinquency, school dissatisfaction, and locus of control. Results indicate that all of the mediating variables except self-esteem played either a direct or indirect role in self-reported delinquency in year one or in year three of this study.     

Capability,Credibility, and Extended General Deterrence

Deterrence theory suggests that extended general deterrent threats are likely to be more effective when a potential challenger views them as capable and credible. When states sign formal defense pacts, they are making explicit extended general deterrent threats. Thus, the population of defense pacts allows us an opportunity to judge the efficacy of extended deterrent threats with different characteristics. We find that defense pacts with more capability and more credibility reduce the probability that a member state will be a target of a militarized dispute. We also find that states can affect the capability and credibility of their extended deterrent threats through alliance design. Members of defense pacts that include higher levels of peacetime military coordination are less likely to be attacked. This analysis provides support for deterrence theory in the context of extended general deterrence. It also provides evidence that should aid policymakers in designing security structures to meet their goals.     

Factors affecting the sustainability of a community water supply project in Kenya

This paper examines how three sustainability factors (water supply, regulatory policy, local management) are affecting the sustainability of a community water supply project in Kenya. Findings show that after 10 years the project is at a threshold of sustainability – it may yet fail. Changing rainfall patterns and additional withdrawals from new projects are threatening available water supply. The community is resisting compliance with water sector reforms including those intended to benefit community-managed projects. Community management deficiencies and a lack of supportive external relationships are impeding project continuity and sustainable local water management.