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An historically unprecedented state subsidization of the US financial system has been implemented since 2010 via the Federal Reserve, the US central bank. Oiginally designed to serve as lender of last resort during banking crises, central banking globally has been transformed into the subsidization of the private banking system. Today that system is addicted to, and increasingly dependent on, continuing central bank infusions of significant amounts of liquidity. Rescinding this artificial subsidization would almost certainly lead to a financial and real collapse of the global economy. Central banks will not be able any time soon to retreat from their massive liquidity injections. Nor will they find it possible to raise their interest rates much beyond brief token adjustments. Truly, central bankers are at the end of their rope. This book provides a comprehensive analysis of this urgent dilemma and proposes how to revolutionize central banking in the public interest.
In Southern Africa, marriage used to be widespread and common. However, over the past decades marriage rates have declined significantly. Julia Pauli explores the meaning of marriage when only few marry. Although marriage rates have dropped sharply, the value of weddings and marriages has not. To marry has become an indicator of upper-class status that less affluent people aspire to. Using the appropriation of marriage by a rural Namibian elite as a case study, the book tells the entwined stories of class formation and marriage decline in post-apartheid Namibia.
Drawing on a wealth of local, national and international sources, unpublished documents and original research, this book provides a theoretical and practical critique of victimology. The authors outline and discuss the issues facing victims today and address the fundamental question: How can we best ensure justice for victims, while at the same time preserving the rights of defendants? The search for answers raises other key questions: What are the risks of crime and do they vary from country to country? What is the impact of crime on the victim? How are victims treated by police, welfare agencies and courts? Why have governments become interested in victims? Can we learn from the experiences of policies in other nations? H
Tax distortions are likely to have encouraged excessive leveraging and other financial market problems evident in the crisis. These effects have been little explored, but are potentially macro-relevant. Taxation can result, for example, in a net subsidy to borrowing of hundreds of basis points, raising debt-equity ratios and vulnerabilities from capital inflows. This paper reviews key channels by which tax distortions can significantly affect financial markets, drawing implications for tax design once the crisis has passed.
In Goddess and God in the World, leading theologians Carol P. Christ and Judith Plaskow debate the nature of divinity, proposing a new method called embodied theology. They agree that the transcendent, omnipotent male God of traditional theology must be reimagined. Carol proposes that Goddess is the intelligent embodied love that is in all being. Judith counters that God is an impersonal power of creativity that includes both good and evil. Rooting their views in experience and questioning each other, they offer a fruitful model of theological conversation across difference.