REPLY TO the preceding Discussion by J. J. Schmidt of "Recharge of Wells from Spoil Banks???"

Ground Water ◽  
1978 ◽  
Vol 16 (4) ◽  
pp. 291-292
Author(s):  
Joseph R. J. Studlick
Author(s):  
Merritt B Fox

This chapter begins by considering the especially severe information-asymmetry problem that plagues primary offerings of truly new securities. It then examines market-based solutions for these problems, the shortcomings of exclusive reliance on such solutions, and the rationale for having a government-designed affirmative-disclosure regime, whereby an issuer making an offering is required to answer certain questions. It also addresses the question of whether this regime should be imposed on all issuers making such offerings or only those that volunteer to be subjected to it. The remainder of the chapter considers the rationale for mandating the imposition of liability on issuers, issuer directors and officers, underwriters, dealers, and experts such as accountants or rating agencies when there have been material misstatements or material omissions of what was required to be disclosed. The final section briefly applies the preceding discussion to the efforts, as part of the Capital Markets Union, to increase the opportunities for European SMEs raise funds through public offerings.


2017 ◽  
Vol 42 (2) ◽  
pp. 273-295 ◽  
Author(s):  
David Neilson

First-generation neo-Marxist class theorists advanced some way beyond the orthodox Marxist account that is grounded in a particular reading of the Communist Manifesto. However, capitalism’s changing reality since then has revealed the limited extent of their break with orthodoxy. With the support of Bhaskar’s critical realism and Gramsci’s philosophy of praxis, this article addresses these limitations to facilitate movement towards second-generation neo-Marxist class theory. Rather than following first-generation neo-Marxist Poulantzas who dismissed the ‘class-in-itself’/‘class-for-itself’ distinction as a non-Marxist Hegelian residue, this article treats it as the central problematic of Marx’s class theory. Bourdieu’s subjectivist reformulations of the distinction that resonates with Marxist interpretations that run counter to the neo-Marxist social scientific aspiration are also critically engaged. The innovative conceptual framework arising from the article’s critical engagement with these diverging intellectual trajectories is applied to sketch ‘class effects’ in-themselves especially around the theme of the ‘relative surplus population’. Expected class effects implied by the core dynamic of the capitalist mode of production, and then contemporary empirical effects generated by neoliberal-led global capitalism, are outlined. This re-conceptualisation is then supplemented by critically examining Beck’s argument that individualisation leads to capitalism without classes-for-themselves. The article concludes by reconsidering class-for-itself in the light of the preceding discussion.


Author(s):  
Sv. Gentcheva-Kostadinova ◽  
E. Zheleva ◽  
R. Petrova ◽  
Martin J. Haigh

Author(s):  
Edmund Thomas

From ancient Egypt to the present day, the colossal size of buildings has been considered to reflect political power. For Herodotus, architecture was an expression of dominion; the Periclean monuments of Athens seemed visibly to encourage the Athenians to reclaim their Aegeanwide political ascendancy, since, as Isocrates remarked, ‘democracy had so adorned the city with temples and sacred images that even today visitors think it is worthy to rule not only the Greeks, but also all other peoples’. The Circus Maximus, rebuilt by Trajan, was ‘a seat worthy of the nation that conquered the world’. The correspondence between Trajan and the younger Pliny, his appointed legate in Bithynia, reveals the ideological purpose of provincial architecture. Pliny pointed out such meanings, although Trajan himself modestly affected to address only practicalities. For instance, Pliny remarks that a proposed canal near Nicomedia was ‘worthy of your greatness and your concern’. Architecture was as important in constructing imperial ideology as an emperor’s portraits or the legends and images on his coins; it legitimated his regime by promoting a particular ideal that commanded respect. It is generally agreed that buildings continued to play this role under Hadrian. The preceding discussion of Antonine buildings in the province of Asia now provides grounds to modify the view that, during the middle of the century, festivals or shows replaced public buildings as the major indicator of imperial ideology. One should, of course, be wary of using modern labels like ‘message’, ‘persuasion’, ‘propaganda’, or ‘ideology’ to describe the purpose of ancient forms. But in the present context the term ‘ideology’ seems particularly appropriate. As J. B. Thompson defines the concept, it highlights: . . . the ways in which meaning is mobilized in the service of individuals and groups, that is, the ways in which the meaning constructed and conveyed by symbolic forms serves, in particular circumstances, to establish and sustain structured social relations from which some individuals and groups benefit more than others, and which some individuals and groups have an interest in preserving while others may seek to contest. . . .


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