Money and Credit Redux

We analyze money and credit as competing payment instruments in decentralized exchange. In natural environments, we show the economy does not need both: if credit is easy, money is irrelevant; if credit is tight, money is essential, but credit becomes irrelevant. Changes in credit conditions are neutral because real balances respond endogenously to keep total liquidity constant. This is true for both exogenous and endogenous debt limits and policy limits, secured and unsecured lending, and general pricing mechanisms. While we show how to overturn some of these results, the benchmark model suggests credit might matter less than people think.     

Flexibility, Hierarchy, Markets

The conclusion that organizations need to become more strategically flexible as a response to increasing environmental dynamism and uncertainty has been an important feature of recent contingency theories of organization design. In this literature organizations have been analysed from the perspective of the development of networks of organizations concentrating on their core competencies and contracting among themselves on a stable long-term basis. This model of inter-firm relationships provides an alternative mode of organizational structuring to that arising from vertical integration, which, by contrast, is seen as fostering strategic inflexibility. In the literature on corporate restructuring and changes in ownership form arising from the markets and hierarchies perspective, we see a similar emphasis on the dysfunctional consequences of large-scale bureaucratic organization. Changes in ownership form are seen as a major means of providing more effective managerial control. In this paper we argue that linking the literature on flexibility emanating from contingency theories of organizational design and the markets and hierarchies perspective provides important new insights into current and emerging forms of organization.     

Centralized nurse scheduling to simultaneously improve schedule cost and nurse satisfaction

Nursing managers are faced with rising turnover and shortages of qualified nursing staff. At the same time they are under increased pressure to simultaneously increase patient care and satisfaction while reducing costs. In this study, we examine the impact of centralizing scheduling decisions across departments in a hospital. By pooling nurses from multiple units and scheduling them in one model, improved costs and reduced overtime result. Reduced overtime improves schedules for nurses. Improved satisfaction levels can positively impact turnover rates among nurses. Our results show that by using a centralized model, nursing managers in hospitals can improve the desirability of nurse schedules by approximately 34% and reduce overtime by approximately 80% while simultaneously reducing costs by just under 11%.     

Lay Assessors and Care Home Inspections: Is There a Future?

This paper reports on research funded by the Nuffield Foundationexploring the role of lay assessors in the care home inspectionprocess in England and Wales. Lay people have been includedin many care home inspections for the past decade. Similar layinvolvement is included in other public service inspectionssuch as the Office for Standards in Education (OFSTED) inspectionsof schools. The Board of the short-lived National Care StandardsCommission (NCSC) controversially decided to dispense with suchlay involvement in the inspection process. The replacement body,the Commission for Social Care Inspection (CSCI), intends toinclude lay people in the inspections of support services inthe community but is hesitating about reintroducing them intocare home inspections. This research project was able to explorethe role taken by lay assessors in thirteen inspections of carehomes for older people and for adults with learning disabilities.The research concluded that lay assessors had a significantrole in communicating with residents and staff and observingcare home life. Their role was particularly important, as inspectorswere often so involved in paperwork and checking policy compliancewith the national minimum standards that they were often ableto spend little, if any, time talking to residents or staff.It is argued that there is considerable potential for a strengthenedrole of lay people in the care home inspection process.     

Class and family

This paper seeks to make a contribution to debates on ‘class analysis’, as well as exploring the role of the family in class reproduction. A broad distinction is drawn between primarily ‘economic’ and primarily ‘culturalist’ accounts of class reproduction. It is argued that despite their differences, these accounts also share many similarities. In particular, both approaches identify the role of the family as central to the reproduction of class. However, economic and cultural accounts cannot be integrated into a single ‘theory’, one reason being that the mechanisms whereby economic and cultural capital are transmitted are different. Nevertheless, economic and cultural approaches may be (and should be) used in combination with each other in order to develop a full account of the reproduction of class inequalities. In developing these arguments, a critique is offered of current theories of ‘individualisation’ in relation to class and the family. The argument is illustrated by two ‘worked examples’; teenage motherhood, and the patterning of mothers’ employment.     

The role of family care-givers for an older person resident in a care home

Summary A sample of 61 relatives of residents admitted during the precedingthree years to 35 independent sector nursing or residentialcare homes in four local authority areas was interviewed. Thissample included spouses, daughters and sons. Five discrete rolesfor family care-givers in the care homes were described: checkingthe quality of care, companionship, handling the cared-for personwith personal care. Although family care-givers described themselvesas very satisfied with the care homes as a whole, as many ashalf were worried about some aspect of care. A third of theoffspring felt that their relationship with the cared-for personhad improved following the admission to a care home. None ofthe spouses felt this to be the case and most felt that theirrelationship had deteriorated. Spouses tended to visit veryfrequently. Unlike offspring, spouses rarely took the cared-forperson out of the care home. Because of the lack of privacy,visits could be a difficult experience. Those wanting to continuegiving their partner practical support were discouraged by stafffrom doing so. The research has implications for social workers,care home proprietors and registration and inspection unitsin encouraging care homes to adopt more 'relative friendly'policies.