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Constituting the cultural economy

more ‘detached’ relation to employers. Increasing reliance on cultural–economic networks for the exchange of knowledge, for work, and for the promotion of shared work cultures can be seen as a kind of hollowing-out of the firm as an economic organisation, as its typical knowledge and cultural functions are taken up across an extended field of market or network ‘non-organisations’. Culture and economy – framing the cultural industries The classification of distinct industrial sectors is an imperfect art, and the case of the cultural industries appears more

in Market relations and the competitive process

’ (2011:551). Referring to Miller’s understanding of thrift as being about preserving household economic resources in order that they remain available for future acts of consumption that enable expressions of love and devotion, Evans defines thrift as ‘the art of doing more (consumption) with less (money) and so thrifty practices are practices of savvy consumption, characterised by the thrill and skill of “the bargain” ’ (2011:551). He argues that ‘thrift is essentially a circular process of spending to save and saving to spend. As such, it does not place a restraint on

in A brief history of thrift
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undoubtedly the more philosophical, and in every science . . . is vastly more ingenious and engaging’ (Smith, 1983, p. 146). The incentives which both Smith and Schlicht emphasise do not coincide with the incentives to which economists typically give priority, though the latter may complement them; but they still appear to be important incentives to scientific investigation. In this, as in other aspects of its practice, science is still an art. Smith went on to observe that as science progresses it tends to divide into specialisms, and these specialisms encourage attention

in Market relations and the competitive process
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Keynes, consumer rights and the new thrifty consumers

wilderness … with wagons and axes and guns, but with no money at all. The pioneers were thrifty or they would have perished … they left traces of that fear in their sons and grandsons … No matter how prosperous they were, they could not spend money either upon art, or upon mere luxury and entertainment, without a sense of sin’. These changes in the perceived role of the consumer, both on the part of consumers themselves, but also on the part of governmental and market actors, are well captured by Frank Mort in his thought-​provoking summary. As he argues, ‘the citizen

in A brief history of thrift

neoclassical economics  89 29 Art Rolnick, ‘Interview with Thomas Sargent’, Federal Reserve Bank of Minneapolis, 2010. Available at: https://minneapolisfed.org/­ publications/the-region/interview-with-thomas-sargent (accessed 21 April 2016). 30 Timothy Cogley and Thomas J. Sargent, ‘The market price of risk and the equity premium: a legacy of the Great Depression?’, Journal of Monetary Economics 55(3) (2008): 454–76. Credit is due to Jonathan Aldred for pointing this out, in his forthcoming paper ‘Reforming economics education: assessing the mainstream response’. 31 Naomi

in The econocracy
Benjamin Franklin, Samuel Smiles and Victorian moralism

1758.4 The almanac contained a calendar, weather, poems, sayings and astrological information typical of 37 Individualist thrift 37 almanacs of the period, but also featured Franklin’s aphorisms and proverbs, many of them about industry and frugality. On industry and leisure Poor Richard espouses:  ‘Employ thy time well, if thou meanest to gain leisure; and, since thou art not sure of a minute, throw not away an hour’; ‘Do not squander time, for that is the stuff life is made of ’; ‘The sleeping fox catches no poultry’; and ‘there will be sleeping enough in the

in A brief history of thrift

child raising, or from dealing with crime, or from supporting art or religion, or from political campaigning, for that matter. Rather, economics should be viewed as an aspect of any activity. From that point of view, it should be clear that the problem of economic organisation and governance is not simply about the production and distribution of commodities like peanut butter. In any case, under standard circumstances, child care is presumed to be the province of the child’s parents or extended family. At the same time, parents or those in a parental role are presumed

in Market relations and the competitive process

-time undergraduate study per student before and after 2010 reforms Indicative subjects Band Typical Grant plus Typical Grant plus Grant in £3,375 Grant in maximum 2011/12 tuition fee 2012/13 £9,000 tuition fee Clinical medicine & clinical dentistry, veterinary science Laboratory-based subjects (science, pre-clinical medicine), engineering & technology Intensive teaching, studio or fieldwork, inc. art, design & mathematics Arts & humanities Law & economics A £14,601 £17,976 £10,000 £19,000 B £5,484 £8,859 £1,500 £10,500 C £3,898 £7,273 None £9,000 D £2,709 £6

in The econocracy
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the history of art or palaeontology might be considered niche issues best left to the academics, economics is different. Economics affects everyone, sometimes painfully so; in this book we’ll show how economists and their frameworks have been unable to help societies address some of their most important problems, from financial crises to environmental degradation. Our case in this book is that economic experts have ended up with hugely influential roles in society but that the economic knowledge that forms the basis of their claim to expertise is often inadequate

in The econocracy
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imposed by local government. In addition, Guerin was extremely generous to his own church, the Church of God, which received $75,000 annually from Parent 36 FERRANTI: A HISTORY Foundation, while other Lancaster charities received sums ranging from $20,000 to $40,000. This was also matched by similarly impressive donations to the Pennsylvania School of Art and Design and the Lancaster Symphony. The Lancaster New Era calculated that between 1982 and 1989 Guerin contributed at least $10 million to local charities and cultural activities, as well as funding an orphanage

in Ferranti: A History