Containing Contagious Financial Crises: The Political Economy of Joint Intervention into the Asian Crisis

The notion of contagion has changed the wayscientists perceive financial crises,causing heated debate on the politicaleconomy of crisis intervention. Based on aformal model that shows how a financialcrisis can escalate and spread contagiously,this article analyzes game-theoreticallyhow a financial market crisis can becontained through intervention. The centralfocus is the role that internationalorganizations play in overcoming thecollective action problem of jointintervention. It is argued that the IMFsupport programs were helpful, and probablynecessary in a class of cases we analyzemore carefully, in surpassing the thresholdlevel of collective action.     

“Beggar thy Neighbor:” Testing for Free Riding in State-Level Endangered Species Expenditures

An important public policy question that remains unresolved iswhether devolution will enhance sensible policy making byexploiting informational asymmetries or, instead, trigger a``beggar thy neighbor'' response and stimulate free ridingamongst localities. We analyze this question within theframework of U.S. environmental policymaking by scrutinizing aunique panel data set on state-level endangered speciesexpenditure patterns. Our empirical estimates are consistentwith the notion that states free ride, which may lead to anexpenditure equilibrium that is not Pareto efficient.     

Whither Environmental Security in the Post–September 11th Era? Assessing the Legal, Organizational, and Policy Challenges for the National Security State

What are the implications of the war on terrorism for the progress made to date and the likely future of environmental security efforts in the national security state? To put the evolving post–September 11th environmental security challenge facing the U.S. military in perspective, this article begins with a synopsis of the doctrinal, tactical, operational, and regulatory dilemmas faced by the U.S. military in the post–Cold War era. Next, the article reviews how and why the 1990s bequeathed a set of misaligned administrative systems that make existing and future progress in balancing national security with environmental and natural resources protection extremely vulnerable to shifts in the political economy surrounding this issue in the post–September 11th era. The article concludes with a review of how September 11th has affected the patterns of politics surrounding this issue since those tragic events. Despite recent increases in the defense budget, this analysis suggests that conflict over this issue will continue, rendering structural realignment a daunting challenge and further complicating the integration of national security and environmental and natural resources responsibilities in the post–September 11th era.     

RAILROAD POLICY AND INTERMODALISM: Policy Choices after Deregulation

Intermodalism is widely viewed as a promising recent development in transportation. This article examines the role played by railroads in intermodal freight transportation and the framework of public policies around whic intermodal freight movement has evolved. Intermodalism emerged because of technological, organizational, and public policy developments that contributed to its rapid growth. Deregulation of the rail industry since 1980 has led to significant restructuring through mergers and direct contracts between railroads and customers. As intermodal shipments become more important to the overall transportation system in the United States, attention will need to be given to ways in which intermodal concerns are addressed in surface transportation programs.     

Die drei Welten der sozialen Ungleichheit: Belohnungen,Prestige und Citizenship

Talcott Parsons’s contribution to an analysis of social inequality seems to have had a strange destiny: it was either neglected as if Parsons had not contributed to the problem at all; or it was rejected as an allegedly useless kind of functional analysis of social stratification of modern societies. However, I argue, there is no single theory of functional stratification. Rather, there are at least three versions that have to be seen as separate approaches: First, the theory of rewards as it was developed by Parsons and, more important, by Kingsley Davis and Wilbert E. Moore; second, the theory of moral respect, that Parsons presented in two different versions; third, the theory of a balance of equality and inequality in modern societies that Parsons developed following T.H. Marshall’s theory of citizenship. The article presents a historic and systematic analysis of these three strands of Parsons’s contribution to the debate on social inequality. While the theory of functional stratification failed as a whole, I show that Parsons nevertheless anticipated crucial aspects of recent sociological debates, like the importance of the vagueness and fluidity of social stratification, or the crucial significance of education being the most important resource for a realization of individual life chances in modern societies.     

Werbung und Unternehmensberatung als „:Treuhänder“: expressiver Werte?

This paper discusses the contribution of Parsons’s theory of professions that focuses on the specific modern relationship between value commitment and rationality to the analysis of the field of advertising and (management) consulting occupations, both being considered to be a new type of professions (named economic communicators of culture). However, there are some differences between the classical professions and these new occupational groups. One main difference is the significance of expressivity: advertisers are concerned with expressive functions of consumerism while consultants are implementing values of self-realization and individualism in the work sphere. Therefore, we refer to both, Parsons’s category of expressive culture and to his theory of symbolic media of interchange where he developed the idea that value-commitments are no longer anchored (internalized) in personality structures and institutionalized in occupational roles, but “circulating”. This idea stresses the role of reputation as a source of professional influence and recognition. The connection of these three elements of Parsons’s theory (professions, expressive culture, symbolic media) will contribute to a better understanding of the significance of these new occupational groups, the economic communicators of culture.