Marketing inherited a model of exchange from economics, which had a dominant logic based on the exchange of “goods,” which usually are manufactured output The dominant logic focused on tangible resources, embedded value, and transactions Over the past several decades, new perspectives have emerged that have a revised logic focused on intangible resources, the cocreation of value, and relationships The authors believe that the new perspectives are converging to form a new dominant logic for marketing, one in which service provision rather than goods is fundamental to economic exchange The authors explore this evolving logic and the corresponding shift in perspective for marketing scholars, marketing practitioners, and marketing educators

/pdf/evolving-to-a-new-dominant-logic-for-marketing-bnlxqi06a2.pdf

Evolving to a New Dominant Logic for Marketing

/pdf/labor-based-grading-contracts-building-equity-and-inclusion-3ufbkhyc1q.pdf

Labor-Based Grading Contracts: Building Equity and Inclusion in the Compassionate Writing Classroom

Robust political economy requires that both the assumptions of agent benevolence and omniscience be relaxed so that both incentive issues and knowledge problems can be adequately addressed In this article we seek to (1) develop an understanding of the application of robustness in areas outside of political economy and use this understanding to further our appreciation of the nature of robustness in political economics, (2) explore the robustness of liberalism by considering how it performs under both worst-case motivation conditions and worst-case information conditions in the context of the arguments advanced by the classical economists and Friedrich von Hayek, and (3) explore the fragility of socialism under both best-case incentive conditions and best-case information conditions in the context of the arguments advanced by Ludwig von Mises and Friedrich von Hayek

https://papers.ssrn.com/sol3/Delivery.cfm/SSRN_ID2011506_code182652.pdf?abstractid=869124&mirid=1&type=2

Liberalism, Socialism, and Robust Political Economy

Using a sample of completed U.S. acquisition deals over the period 1984–2014, we find that acquirer organization capital as measured by capitalized selling, general, and administrative (SG&A) expenses is associated with superior deal performance. We show that high organization-capital acquirers achieve significantly higher abnormal announcement period returns, and better post-merger operating and stock performance, than low organization-capital acquirers. Additional tests suggest a causal relation between acquirer organization capital and deal performance. We further show that post-merger, high organization-capital acquirers cut more on the cost of goods sold, invest more in SG&A expenses, and achieve greater asset turnover and innovative efficiency.

/pdf/organization-capital-and-mergers-and-acquisitions-198wk8xqy5.pdf

Organization Capital and Mergers and Acquisitions

Two broad positions have dominated the history of economic thought with respect to chattel slavery. The view of the classical economists, dating back as far as Adam Smith and including a good many abolitionists, was that slavery was inefficient and therefore unprofitable. The contrasting position of the new economic historians, most closely identified with Robert Fogel and Stanley Engerman, is that slavery was profitable and therefore efficient. Both positions are partly wrong (as well as partly right). Southern slavery was indeed profitable but nevertheless inefficient; it operated like other obvious practices — from piracy through monopoly to government subsidies — where individual gains do not translate into social benefits. In the terminology of economics, it was a system that imposed significant “deadweight loss” on the Southern economy, despite being lucrative for slaveholders. The paper presents both theoretical arguments and empirical evidence for the peculiar institution’s inefficiency. In the process it throws into fresh perspective many historical controversies about the antebellum South. A recognition of slavery’s deadweight loss has major implications for the origins of the Civil War. Slavery’s survival required extensive subsidies from government at all levels. A federal Fugitive Slave Law was among the most crucial ways that the national government socialized the system’s enforcement. That is why runaway slaves were such an important ingredient in sectional strife. A comparative investigation of slavery not just within the United States but elsewhere demonstrates that, wherever slaves could easily run away, the entire system was compromised.

Deadweight Loss and the American Civil War: The Political Economy of Slavery, Secession, and Emancipation

2. The effects of the division of labor, in the general business of society, will be more easily understood, by considering in what manner it operates in some particular manufacturers. It is commonly supposed to be carried furthest in some very trifling ones; not perhaps that it really is carried further in them than in others more important: but in the trifling manufacturers which are destined to supply the small wants of but a small number of people, the whole number of workmen must necessarily be small; and those employed in every different branch of the work can often be collected into the same workhouse, and placed at once under the view of the spectator. In those great manufacturers, on the contrary, which are destined to supply the great wants of the great body of the people, every different branch of the work employs so great a number of workmen, that it is impossible to collect them all into the same workhouse. We can seldom see more, at one time, then those employed in one single branch. Though in such manufacturers, therefore, the work may really be divided into much greater number of parts, then in those of a more trifling nature, the division is not near so obvious, and has accordingly been much less observed.

Adam Smith, from An Inquiry into the Nature and Causes of the Wealth of Nations (1776)

Abstract:In my recent history of Eighteenth Century Collections Online (ECCO), the case study of Patrick Browne’s The Civil and Natural History of Jamaica (1756, 1789) focuses on bibliography and technology to illuminate a story of remediation. The case study was silent, however, on how this book was imbricated in the system of Atlantic enslavement and colonialism. My Reflections essay attempts to redress this erasure by recognizing that the field of eighteenth-century studies is entangled within the legacies of global colonialism and by drawing on anti-racist and decolonial reading strategies. This essay intersects with postcolonial and decolonial approaches to digital humanities, book history, and the archives of the Caribbean and the Black Atlantic. It traces the routes across time and place of two book copies, connecting biography, provenance, archives, the violent histories of place and geography, the neo-colonial conditions of digital publishing and technology, and the contexts of power and privilege of my own situation as a white scholar.

Eccentric Connections: Toward a Decolonial (Digital) Book History

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Adam Smith, from An Inquiry into the Nature and Causes of the Wealth of Nations (1776)

Eccentric Connections: Toward a Decolonial (Digital) Book History