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Italy is famous worldwide for its co-operative sector, and this firm model has proven to be efficacious in redressing many social inequalities over the past two centuries. This paper aims to examine how local communities in diverse regions have adapted this traditional form to the contemporary trend of bottom-up community development processes. Furthermore, the paper compares the Italian initiatives with the international literature on community co-operatives and assesses to which extend similarities and differences are viewable. The qualitative analysis considers 7 co-operatives in various areas of Italy, and analyses result from 15 semi-structured interviews with managers. Findings show the intense work undertaken before the co-operatives' registration, the negotiation of purposes and objectives with external partners, how founder groups have a key role in determining each firm's approach to local development, and how further networks with external subjects are deeply influence the co-operatives' work. [ABSTRACT FROM AUTHOR]

This paper provides a political economy analysis of the bilateral trade relations and patterns of exchange that existed between Iran and Sub-Saharan Africa (SSA) from 1962 to 2021. The paper contributes to the growing literature on Iran–Africa relations by empirically delineating not just the changes, but also the continuities between Iran and its African trading partners before and after the Iranian Revolution. It also adds nuance to the broader scholarship on South–South cooperation by showing the disparity between the rhetoric of South–South solidarity and reciprocity between Iran and SSA, on one side, and their low and fluctuating trade volumes, on the other. These volumes resulted from historical inertia or path dependency and structural factors, including trade complementarities and geopolitical conditions, more than demographic, cultural, or religious realities. They were also shaped by the agency and decision-making of Iranian and African leaders and officials regarding the extent to economically engage with each other. [ABSTRACT FROM AUTHOR]

In this paper, we examine the relationship between the reliance on informal financial support and social insurance programs such as unemployment insurance to meet financial hardships imposed during the economic downturn associated with COVID-19. We use the U.S. Census Bureau's Household Pulse Survey to compare the likelihood of receiving informal financial support from family and friends for households that did or did not receive social insurance controlling for observable household characteristics. We pay special attention to differences by race/ethnicity and by homeownership – a proxy for wealth. Our results suggest that (1) some types of social insurance receipt are a weak substitute for informal financial support, (2) the substitution between informal financial support and social insurance receipt is stronger among White households than households of color, and (3) wealth is a more consistent buffer against financial hardship than social insurance receipt. [ABSTRACT FROM AUTHOR]

Direct cash transfers to households during the COVID-19 pandemic, including relief checks and Child Tax Credit payments, were delayed by weeks for recipients without bank accounts and were not received by many non-filers who lacked the time or resources to complete necessary paperwork. A postal banking system has the potential to expand access to financial infrastructure and enable the rapid distribution of resources to households in need during economic downturns – often the same households that are currently excluded from the financial system. This paper examines the history of the US Postal Savings System and the feasibility of a return to postal banking using evidence on the socioeconomic and spatial patterns of financial exclusion. We find that postal banks would be well positioned to compete with both alternative and conventional financial institutions, address issues with physical branch access, and improve outreach to vulnerable populations. [ABSTRACT FROM AUTHOR]

This paper argues that the different symbolic meanings of goods give rise to three institutionally different market types. We start from the realization that consumption has symbolic meaning, which individuals use to communicate and construct their identity to their social networks. We argue that firm behavior (including size, pricing and marketing strategies) must be congruent with the symbolic meaning of goods. We distinguish between two stylized meanings of goods, status and taste, which we derive from the socio-anthropological literature on consumption. We argue that these different meanings, articulated by consumers to communicate their identity, give rise to three ideal-typical market types. We present the institutional differences between these market types as well as the implications for firm behavior and demonstrate how firm behavior and marketing strategies differs significantly from markets in which the symbolic meaning of goods is relatively unimportant. We use the recent transformation of the beer market by the craft-beer producers, to illustrate our theory. [ABSTRACT FROM AUTHOR]

This paper argues that the mainstream economics view of production based on the conventional factors of production is socially and empirically inaccurate, giving a distorted view of the nature of the production process and the agents responsible for it. Although the factors of production are essential, just as important are the various social, cultural, and political enabling conditions, or what is termed the ‘understructure’ of market production (the complex of infrastructures which underlie and enable market production). We gain an enriched understanding of what the economy truly is by studying the functioning of the understructure and the ancestral labour and care encompassed in it. If this revised view is correct, it has radical ethical implications. In particular, it implies that individuals do not morally deserve the bulk of the income (90% or more) that they receive in the market. High levels of redistributive taxation may therefore be legitimatea. [ABSTRACT FROM AUTHOR]

The twenty-first-century global arena is profoundly shaped by the intensifying US–China rivalry. While theories in the US, such as the Thucydides’ Trap and the Clash of Civilizations, forecast a prospective ‘Cold War II,’ many experts in China propound a ‘divided peace,’ advocating for the stable coexistence of dual powerhouses. Introducing a nuanced lens, the ‘Security in Context’ (SiC) approach argues for a more interconnected and multi-dimensional understanding of great power dynamics. This study dives into the practicalities of a SiC approach, examining key strategies including the Trans-Pacific Partnership, the Belt and Road Initiative, and the Free and Open Indo-Pacific Strategy. As we venture into the era of economic and technological decoupling, epitomized by measures like the Chip Act and Restrict Act, the paper suggests that the SiC framework remains central to deciphering the evolving US–China narrative, even in the face of burgeoning uncertainties. [ABSTRACT FROM AUTHOR]

This symposium focuses on the relationship between financialization and the social economy, specifically examining the role of finance and financial markets in the lives of US households. Financialization refers to the growth and dominance of the financial system, extending beyond the financial sector itself to impact social relationships and households' economic decision-making. The articles in this symposium explore various aspects of financialization, including the economic precarity of US households, the concentration of asset management, and the potential for alternative financial institutions to mitigate dependence on private institutions. The papers also address racial disparities in access to financial infrastructure and the conflicts of interest within asset management firms. Overall, these articles provide valuable insights into the intersection of financialization, inter-household relationships, public policy, and households' financial security. [Extracted from the article]