147 9 Money Definition This resource is indispensable to public policy actors in that it enables them to procure many other resources (for example, the promoters of a shopping centre exchange the resources money for law by financing the improvement of access to the site by public transport, pedestrians and cyclists in exchange for the granting of planning permission). This resource draws its importance from the fact that it is very easy to exchange, particularly as many actors enjoy a certain level of budgetary autonomy. This is precisely the reason why
The deal that most came to symbolise the extractive processes at work was the dramatic buy-out of RJR Nabisco, the giant US tobacco and food conglomerate. The $25 billion 1988 bidding war, a nail-biting and high-stakes game of corporate poker, involved a river of money so great that it greatly distorted the American money supply figures. The fees enjoyed by the two top executives – $53 million and $46 million respectively – were stratospheric even by Wall Street standards. 1 In the UK, the takeover deals of the time were often hatched in private clubs and
individualism and utilitarianism and ascribe all economic decisions to means–ends deliberations. Even though we know that in some historical societies there were no markets to speak of and some did entirely without money in our current sense, economists tend to treat these historical societies as if people had already made their decisions according to supply and demand. By contrast, Polanyi looks at the exact empirical conditions under which people then engaged in exchanges with others. He considers the economic activities of humans to be “embedded and enmeshed in
In February 2021, Marie Ekeland, one of the most influential figures in the French FinTech sector, set out the ambition for her new funding vehicle 2050 – designed to have a long-term positive impact on issues like equality and sustainability – in the following way: When you invest, you’re shaping the future. When you put your money here, you’re not just following the wind, you’re making it blow. So the real question is: ‘What is the world you want to live in?’ This question is very complex to answer because we’re living in a very complex world and there
Political parties are crucial to British democracy, providing the foundations for mobilising voters. Their constituency branches are key links between voters and Parliamentary candidates and their activities require two vital resources – people and money. Much has been written on the decline of party membership but far less on money.
In this much-needed new book, Ron Johnston and Charles Pattie use the latest research and hitherto unpublished material to explore financial differences across the UK’s three main parties in the four years leading up to the 2010 General Election. They look at how much local parties raise for election campaigns and find that the more money candidates spend then, the better their performance. Analyses of their annual accounts, however, show that many local parties are unable to raise all of the money that they are entitled to spend on such campaigns. This reveals an unhealthy picture of grassroots party organisation in which the capacity to engage effectively with many voters is concentrated in a relatively small number of constituencies and is likely to remain so.
This timely and essential book will make a major contribution to the literature on British elections and parties, especially to continuing debates regarding party funding. It will make important reading for academics, students, politicians, civil servants and others interested in this topic.
This original and topical book tells the untold stories of migrants’ experiences of, and responses to, financial exclusion in London. Breaking important new ground, it offers an insight into migrants’ lives which is often overlooked, yet is increasingly vital for their broader integration into advanced financialised societies.
Adopting a holistic focus, Migrants and their Money investigates migrants’ complex financial lives which extend far beyond remittance sending, exploring their banking, saving, credit and debt related practices. It highlights how migrants negotiate the complex financial landscape they encounter and the diverse formal and informal ways in which they manage their money in the financial capital of the world. Drawing upon a rich evidence base, this book will be of particular interest to academics, local authorities, policy makers and the financial services industry.
The range of topics discussed is broad, from questions of economics and government policy, corporate and individual responsibility to how voluntary organisations can ensure that their money is used wisely. Issues raised include: does the way we use money betray the next generation? Is dishonesty within our financial systems making it too difficult for consumers to make informed decisions? Are we wasting money on good intentions that do not match real need? How can individuals, foundations and others with social concerns ensure that all their assets are used effectively? The book concludes with suggested actions for government, business, financial institutions, voluntary organisations and individuals. Anyone concerned with issues of finance and social justice will want to read this book.
Billions of dollars are wasted each year trying to prevent ‘dirty money’ entering a financial system that is already awash with it. The authors challenge the global approach, arguing that complacency, self-interest and misunderstanding have now created long-standing absurdities.
International and government policy makers inadvertently facilitate tax evasion, corruption, environmental and organised crime by separating crime from its root cause. The handful of crime-fighters that do exist are starved of resources whilst an army of compliance box-tickers are prevented from truly helping. The authors provide a toolbox of evidence-based solutions to help the frontline tackle financial crime.
107 SIX Money matters This chapter considers financial security on a number of levels. Initially some basic issues in relation to social security in old age are briefly discussed. A developing hostility to early retirement within the EU is noted and a basic framework for exploring sources of social security in old age is established. The second part of this chapter then moves on to outline the differing pension arrangements for senior citizens within the six countries on which the study is based. Within each member state the relevant reforms of the last decade
The trade in counterfeit goods is growing and is increasingly linked to transnational organised crime. But little is known about the financial mechanisms that lie behind this trade.
This is the first account of the financial management of the counterfeiting business. Written by experts in a wide range of fields, it examines the financial and business structures in relation to the illicit trade in counterfeit products.
Based on interviews with active criminal entrepreneurs in the UK and abroad and other data, the authors explore ‘organised crime’ and mutating criminal markets, digital technologies and their criminological and sociological implications, and cultural values and practices. This book will make a significant contribution to our understanding of these timely issues.