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As the market rate of return on juros declined throughout the century, they were refinanced at a lower yield. These operations had to preserve the key feature of a juro: pegging their income to a particular source of royal revenue. Refinancing with a lower yield had to be done by increasing the face value of designated juros, without affecting their income, and with the consent of the holder, who had the option of receiving the face value instead. These crecimientos provides additional insight into the juros and their market.
In each of the three fiscal and financial crises, the cause was the same: the payment of the long-term debts, the juros, completely consumed the ordinary revenues. Among their characteristics, which originated in the financing of the Reconquista, the most important was the attachment of each juro to a specific source of revenue (e.g., sales taxes in Toledo). This reduced their risk but created a fragmented financial market.
Lawyering in the 21st century is a complex mix of skills, knowledge, experience and ethics. While all these are obviously important for successful practice, it is the ethical zone that ultimately defines reputable lawyers and separates them from those who are merely financially successful. Reputation is an elusive concept and hard to analyse in a short introduction. But one vital element of reputation is the notion of sound ethical judgement – the capacity of a lawyer to understand and choose wisely between contrasting ethical frameworks before making a difficult decision. In this task it is vital to appreciate that there are several possible approaches to legal ethics. In this chapter we explore those different approaches and explain why it is frequently appropriate to assess all alternatives for their possible impact.
This article develops the concept of delegated gatekeeping to explain regulatory systems where a primary gatekeeper (the “principal”) delegates revocable roles of support withholder or provider to other gatekeepers (“agents”). Delegation requires that agents assume non-traditional gatekeeping roles such as reputational stewardship (safeguarding the principal’s reputational capital). To illustrate delegated gatekeeping concretely, this article conducts a detailed case study of the London Stock Exchange’s Alternative Investment Market (“AIM”). It argues that reputational incentives can partially alleviate agent gatekeepers’ conflicts of interest, and that these incentives have strengthened on AIM relative to historic levels.
Epistemic injustice happens when a subject is wronged in their “capacity as a knower.” This paper argues that speakers/writers and hearers/readers suffer epistemic injustice under two scenarios: idea appropriation and bullshitting. Epistemic injustice happens when a speaker or writer suffers idea appropriation, where they are deprived of the credit and benefits of their cognitive labor, or when epistemic agents consume bullshit that exploits their limited access to the institutional resources required to interrogate and resist it, treating them as a mere means to an end, e.g., when a politician bullshits voters to secure their vote at election time. These unsavory practices are incentivized by reputational boosts and other social goods with the risk of reputational damage if detected. This paper ends by reviewing how widespread epistemic injustice hampers the epistemic marketplace.
The widespread use of generative artificial intelligence (GenAI) has increased the risk of reputational harm caused by false or “hallucinated” outputs. This article explores how the European Union legal framework, together with selected Member States’ legal systems, addresses liability and remedies for such harms, with particular attention to defamation, product liability, noncontractual liability and data protection. Then, the article analyzes the remedies available to injured parties, focusing on claims for damages, injunctive relief and the exercise of data protection rights. While national legal systems generally allow compensation for nonpecuniary damage resulting from violations of personality rights, the amounts awarded are likely to be minimal due to the limited dissemination of AI-generated content. Consequently, the article argues that prohibitory injunctions aimed at preventing the publication of identical or equivalent false information frequently offer a more robust form of protection than financial redress. Finally, operators of GenAI systems must comply with the principles relating to the processing of personal data, particularly the principle of accuracy and ensure the effective exercise of data protection rights; otherwise, data subjects may bring an action for compensation against the data controller under Article 82 of the General Data Protection Regulation.
Hipparchus is often mentioned by ancient writers, but these reports vary greatly in quality and quantity. The two principal sources are Ptolemy and Strabo, who contribute most of what is known about the general scope of his astronomical and geographical work, respectively. By comparison, other writers tend to be less expert in their reporting or are very brief. These include Cicero, Geminus, Cleomedes, Pliny the Elder, Theon of Smyrna, Vettius Valens, Galen, Sextus Empiricus, Pappus, Firmicus, Theon of Alexandria, as well as several anonymous texts. However, they are still valuable in building up an overall picture of Hipparchus and his contribution to astronomy and mathematics. Many of these ancient sources are discussed here.
Indirect reciprocity is a reputation-based mechanism proposed to explain the evolution of human cooperation. Theoretical models demonstrated that the use of both first-order information (i.e., whether an evaluation target cooperated) and second-order information (i.e., the reputation of an interaction partner of the evaluation target) is critical for the evolution of cooperation. However, empirical findings on the use of second-order information have been mixed. Drawing upon the literature on group-bounded indirect reciprocity, we tested the hypothesis that individuals would be more sensitive to second-order information when evaluating in-group interactions, compared to when evaluating out-group interactions. We conducted a preregistered online experiment (N = 604), where we independently manipulated group membership (in-group vs. out-group), target behaviour (cooperation vs. defection), and recipient reputation (good vs. bad). We found that donors who defected against good recipients were rated more negatively than those who defected against bad recipients, indicating the use of second-order information. Partly consistently with our hypothesis, when individuals evaluated coopering donors, second-order information influenced reputation for in-group donor–recipient interactions more than for out-group donor–recipient interactions. Nevertheless, individuals readily used second-order information, whether or not they evaluated in-group or out-group donor–recipient interactions.
Upon her death in 1973, obituary tributes praised Bowen’s output, without committing to calling her a major writer. Male obituarists cast her a comic writer who supported other writers, without herself being gifted with genius. Yet Bowen’s legacy has grown in the past several decades. John Banville has woven some of Bowen’s themes into his novels – the dilemma of the Anglo-Irish during the Second World War in The Paying Guests and a short radio play called ‘Bowen and Betjeman’ – and Bowen makes a cameo appearance in Ian McEwan’s Atonement. Bowen’s love affair with Charles Ritchie provides the substance of Eibhear Walshe’s novel The Last Day at Bowen’s Court. Yet Bowen’s influence is even more discernible in essays and memoirs by Eavan Boland, Molly Keane, Elizabeth Taylor, Barbara Pym, and A. S. Byatt. As time passes, her relevance increases, and the contexts in which she wrote continue to widen.
This chapter traces the personal and literary relationship between Elizabeth Bowen and the American writer Eudora Welty from their first meeting in 1950 until Bowen’s death in 1973. Letters reveal that the two writers, feeling a connection between their respective ‘souths’, Cork and Mississippi, found common ground in fiction and friendship. They travelled together and frequently commented on each other’s work in progress. Using archival records and extant correspondence, this chapter focuses on their travels together in 1951, when Bowen was lecturing in the American South. Bowen’s reception by women’s clubs and other female literary networks illustrates her literary status at mid-century while revealing the informal networking and paraliterary labour required for independent women to make a living by writing.
A growing body of work suggests that authoritarian regimes can enhance their external legitimacy by undertaking reform—from democratic or “pseudodemocratic” institutional changes at the domestic level to participation in international efforts to mitigate climate change. Yet the shared theoretical logic underlying this work has received surprisingly little empirical attention. This research contributes by offering findings from an iterative series of original survey experiments conducted over nationally representative samples of US citizens. Study 1 tested the foundational hypothesis—that reforms build external legitimacy—by adopting a simple independent groups design. Studies 2 and 3 subjected that hypothesis to harder tests via conjoint designs, and also evaluated extension hypotheses about when and in what sense “legitimacy” is gained. Across studies, the results consistently demonstrate that reforms (of a variety of types) do generate external legitimacy, offering both positive benefits as well as shielding benefits in keeping with theoretical arguments. The results also provide support for several new and previously undocumented findings concerning the role of reform type, type of legitimacy-derived gain, and the conditions under which such gains are more or less likely to accrue.
Media plays a major role in molding US public opinions about Muslims. This paper assesses the effect of 9/11 events on the US media's framing of the Muslim nonprofit sector. Overall it finds that the press was more likely to represent the Muslim nonprofit negatively post 9/11. However, post 9/11, the media framing of Muslim nonprofits was mixed. While the media was more likely to associate Muslim nonprofits and terrorism, they were also more likely to represent Muslim nonprofits as organizations that faced persecution because of Islamophobia, government scrutiny, or hate attacks against them. These media frames may have contributed to public perceptions that Muslim organizations support terrorism while also raising the alarm amongst various stakeholders that the government and the general public are persecuting the Muslim nonprofit sector.
Public scrutiny and the need for funds in a more competitive environment are pressuring nonprofits to be more consciously aware of their reputation. This study used automated analysis with text mining and topic modeling of 177 articles directly linked to nonprofits’ reputation and published up to 2016. After identifying the most salient topics and conducting an in-depth, critical review of the most significant articles within each topic, four theoretical and managerial implications were identified. First, managers need to develop skills to deal with risk, the Internet, and social networks. Second, risk management is an emergent, still tentative, but important topic waiting for more contributions. Third, researchers can apply lexicons developed and validated by experts to uncover knowledge relevant to the entire nonprofit sector’s organizations. Last, the trends and topics highlighted can help scholars and practitioners make better decisions in research or responses to management challenges.
We examine Twitter data to assess the impact of media exposes on the reputations of two international nonprofits, Oxfam and Save the Children (STC). Using a random sample of 6794 Tweets, we study the daily gap between positive and negative sentiments expressed towards these organizations. The “unweighted gap” and the “weighted gap” (weighted by the number of followers) of the Twitter handle follow broadly the same trajectory with high fluctuation in response to new negative or positive media stories. Twitter handles with large audiences amplify variability in weighted gap. While Oxfam’s reputation did not fully recover to pre-Haiti levels even 6 months after the scandal, STC’s reputation returned to pre-scandal levels in 8 days, although it fluctuated in response to new revelations. Overall, reputation recovery for both organizations was aided when they received celebrity endorsements and focused public attention on their positive activities, especially by linking to visible global events.
Policy networks can inform policy design with expertise and build support, or at least acquiescence, for policy change. When policy networks do not arise organically, they can be created through various forms of constructed collaboration. At one extreme, the construction may simply involve tapping expertise through advisory committees. At the other extreme, the constructed arena may delegate policy choice to organizations of stakeholders like the OPTN. Prior research assessed the capacity of the OPTN for evidence-based incremental change in organ allocation rules. This study considered continuous distribution as a radical change in allocation rules. The success of the lung CD serves as a proof of concept for continuous distribution and suggests that it can be effectively implemented for other organs. It also considers stakeholder rulemaking as an institutional alternative in other complex policy areas. Key considerations include whether it can be constructed to engage all relevant stakeholders and induce their willingness to provide expertise.
This Article brings together two important concepts in international law scholarship that have thus far been studied in isolation from each other: reputation and interpretation. Interesting insights lie hidden in their overlap. While interpretation is still commonly perceived as a sterile exercise in “legal logic,” the Article suggests that it is often better studied as a social practice, within which the relationships between the interpreters that are arguing with each other frequently matter as much as the arguments themselves. The Article therefore suggests a new way of looking at interpretation in international law: Interpretation as a practice of reputation management, where collective actors like states present themselves to others in the interpretations they adopt, and are evaluated by various audiences on the basis of these interpretations. The main argument can be summarized like this: If international law is relatively indeterminate, interpretation is a situated choice. By making that choice, an interpreter reveals something fundamental about itself to its audiences. Interpreters therefore carefully manage their interpretive expressions out of a desire to be well-regarded by these audiences. This phenomenon of reputation management has important implications for the practice of interpretation in international law.
This chapter assesses the potential of technological tools to ensure voluntary compliance without coercion and improve the predictability of trustworthiness, focusing on the ethical challenges such differentiation might create.
The chapter concerns the relatively underexplored relationship between transitional justice, media, and rightwing populism. In particular, the chapter problematizes the boundaries of official Polish lustration and attends to the ways in which lustration has become a site for the counter-hegemonic struggles of rightwing groups against postsocialist liberal establishment. Through a detailed analysis of informal lustration practices such as highly mediatized “agent lists,” ad hoc commissions, and the historical research about the famous worker dissident and later the president of the Polish Republic, Lech Walesa, the chapter shows the ways in which liberal and conservative nationalist groups mobilize legal rights against each other, especially freedom of speech and freedom of academic research and the right to a good name/reputation, in an environment pervaded by sensational modes of publicity and nationalization and privatization of public life, partly driven by postsocialist capitalist transformation of media and communication practices.
This chapter describes the development towards more substantial legislative activity and governmental involvement in financial conflict resolution, with special attention to the Low Countries. While execution procedures once had a strong individual focus, over time creditors’ rights were increasingly balanced by collectivizing legal solutions. For a long time, legal solutions for insolvency strongly criminalized the insolvent (then called bankrupt, fallitus), seeking to stimulate honest and prudent conduct among citizens by deterrence. The failure to fulfil one’s obligations was indiscriminately punished by shaming rituals in many parts of Europe. While these defamatory practices proliferated well into the early modern period, they seem to have disappeared from the legal treatment of insolvencies in seventeenth-century Amsterdam. This signifies a crucial change in public mentalities, which allowed for the introduction of a more lenient and efficient insolvency regime.
In the digital economy, quality is increasingly becoming the predominant variable of competition. Markets are expected to seek out that state of affairs in which product quality rather than efficiency is maximized. But an effective conceptual resolution of what constitutes product quality is more complex and elusive than previously thought, and there has been a widespread repudiation of the notion that dominant online platforms can be held accountable for failing to deliver something that a single descriptive standard would command them to produce. Furthermore, microeconomic theory provides little guidance for evaluating how adjustments in the level of competition in a market have a bearing on product quality. This chapter suggests that claims relating to product quality can best be resolved by underscoring loyalty. Product quality, viewed from this perspective, provides a framework for assessing the behavior of digital platforms while at the same time legitimizing the manner in which zero-price markets operate. The issue is most prominent with regard to search engine rankings, privacy, and the sale of goods in online marketplaces.