Power

Financial development and pathways of growth: State branching and deposit insurance laws in the United States from 1900 to 1940

Financial development and pathways of growth: State branching and deposit insurance laws in the United States from 1900 to 1940
Journal of Law and Economics 50 (2007) 239-272.

Dehejia, R.H. & Lleras-Muney, A.
01/01/2007

This paper studies the effect of state-level banking regulation on financial development and on components of state-level growth in the United States from 1900 to 1940. We use these banking laws to assess the findings of a large recent literature that has argued that financial development contributes to economic growth. We contend that the institutional mechanism leading to financial development is important in determining its consequences and that some types of financial development can even retard economic growth.

For the United States from 1900 to 1940, we argue that the financial expansion induced by expanded bank branching accelerated the mechanization of agriculture and spurred growth in manufacturing. In contrast, financial expansions induced by state deposit insurance had negative consequences for both the agricultural and manufacturing sectors.

Robert Moses and the Modern City: The Transformation of New York

Robert Moses and the Modern City: The Transformation of New York
W.W. Norton.

Ballon, H. & Jackson, K.T. eds.
01/01/2007

"We are rebuilding New York, not dispersing and abandoning it": Robert Moses saw himself on a rescue mission to save the city from obsolescence, decentralization, and decline. His vast building program aimed to modernize urban infrastructure, expand the public realm with extensive recreational facilities, remove blight, and make the city more livable for the middle class. This book offers a fresh look at the physical transformation of New York during Moses’s nearly forty-year reign over city building from 1934 to 1968. It is hard to imagine that anyone will ever have the same impact on New York as did Robert Moses. In his various roles in city and state government, he reshaped the fabric of the city, and his legacy continues to touch the lives of all New Yorkers. Revered for most of his life, he is now one of the most controversial figures in the city’s history. Robert Moses and the Modern City is the first major publication devoted to him since Robert Caro’s damning 1974 biography, The Power Broker: Robert Moses and the Fall of New York. In these pages eight short essays by leading scholars of urban history provide a revised perspective; stunning new photographs offer the first visual record of Moses’s far-reaching building program as it stands today; and a comprehensive catalog of his works is illustrated with a wealth of archival records: photographs of buildings, neighborhoods, and landscapes, of parks, pools, and playgrounds, of demolished neighborhoods and replacement housing and urban renewal projects, of bridges and highways; renderings of rejected designs and controversial projects that were defeated; and views of spectacular models that have not been seen since Moses made them for promotional purposes. Robert Moses and the Modern City captures research undertaken in the last three decades and will stimulate a new round of debate.

Power Plays

Power Plays
Negotiation, Jul 2006, p1-4, 4p.

Galinsky, A.D.
07/01/2006

The article presents information on the role of power in negotiation. Power could generate competition or conflict in negotiations, however, effective channelization of power helps in bringing the win-win situation to both the parties. Social psychologists have described power as lack of dependence on others. Individuals possessing power tend to have the approach related to the behavior that includes positive mood or searching for rewards in their environment. On the other hand, powerless individuals show a great deal of self-inhibition and fear towards potential threats. INSETS: WOMEN: INCREASE YOUR POWER AT THE TABLE;POWER ACROSS CULTURES.

Power and Perspectives Not Taken

Power and Perspectives Not Taken
Psychological Science, Dec 2006, Vol. 17 Issue 12, p1068-1074, 7p, 1 bw

Galinksy A.D., Magee, J.C., Inesi, M.E. & Gruenfeld, D.H.
01/01/2006

Four experiments and a correlational study explored the relationship between power and perspective taking. In Experiment 1, participants primed with high power were more likely than those primed with low power to draw an E on their forehead in a self-oriented direction, demonstrating less of an inclination to spontaneously adopt another person's visual perspective. In Experiments 2a and 2b, high-power participants were less likely than low-power participants to take into account that other people did not possess their privileged knowledge, a result suggesting that power leads individuals to anchor too heavily on their own vantage point, insufficiently adjusting to others' perspectives. In Experiment 3, high-power participants were less accurate than control participants in determining other people's emotion expressions; these results suggest a power-induced impediment to experiencing empathy. An additional study found a negative relationship between individual difference measures of power and perspective taking. Across these studies, power was associated with a reduced tendency to comprehend how other people see, think, and feel.

Homeland Security's Extreme Makeover

Homeland Security's Extreme Makeover
The Christian Science Monitor, October 12

Light, P.C.
10/12/2005

As the Department of Homeland Security proceeds with its own recovery from hurricane Katrina, Americans have to wonder what, if anything, can be done to make sure the nation is ready for catastrophes such as earthquakes and terrorist attacks that come without warning.

Does the Structure and Composition of the Board Matter? The Case of Nonprofit Organizations

Does the Structure and Composition of the Board Matter? The Case of Nonprofit Organizations
Journal of Law, Economics, and Organization, Vol. 21, No.1, Spring

O'Regan, K.
04/01/2005

This article discusses some of the key differences in board behavior between nonprofit organizations and for-profit firms using a relatively new dataset from New York City nonprofits. We provide evidence on the broader role that nonprofit boards play for their organizations and then give some suggestive results on the relationship between board structure and composition, and individual board member performance. The results provide some evidence that the executive directors of nonprofits may use their power to push boards toward fundraising in place of monitoring activity. Using a fixed-effects framework, we also find no systematic relationship between board personal demographics and performance, although both tenure on a board and multiple board service do seem to matter.

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