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Goal: This paper performs a literature review to identify and analyze the main gaps related to crisis management and risk management in the engineering projects context. Design / Methodology / Approach: A literature review research design was carried out merging bibliometrics, network and qualitative and quantitative content analysis. Data were obtained from the scientific database Scopus. Results: Publications per year illustrates that in 2016 as concentrated the major number of papers. Only 1% of the authors published 4 papers about models for software engineering risks analysis and reduction. The paper distribution by country shows that the United States has the highest percentage, about 16% of the total. The network of co-occurrence of all keywords has three well-defined clusters. Limitations of the investigation: The quantity of papers analyzed and the selection of a single database. Practical implications: This research encourages project managers to develop pertinent skills for crisis management and risk management in the engineering projects context. Furthermore, this study can guide decision-makers on how to manage risks during the crisis, and also highlights the importance of creating a lessons learned database. Originality / Value: The current study can contribute to companies catching lessons learned from literature, helping project managers to motivate the team during the crisis scenarios, to perform an effective struggle during the crisis, and to turn to the former position in a short time after the crisis. [ABSTRACT FROM AUTHOR]

The Great Recession led to a large decline in economic activity throughout the entire United States with significant variation in its severity across regions. Our paper examines the role of economic freedom in explaining these differences at the metropolitan statistical area (MSA) level. We use the Stansel (2013; 2019) MSA-level economic freedom index to analyze the relationship between institutional quality and economic outcomes throughout the crisis period. Using a panel dataset of 382 MSAs from 2002 to 2012, we find that economic freedom is associated with enhanced economic outcomes – lower unemployment rates, more employment per 100 persons, and higher income per capita. This holds true even when examining a cross-section of MSAs using data from the crisis period alone. We supplement these findings with a matching analysis where we find that MSAs that experienced meaningful increases in economic freedom in the five-year period before the Great Recession (2002–2007) had quicker recoveries – in terms of unemployment rates and income – than their matched counterfactuals from 2007 to 2012. Overall, our findings suggest that economic freedom did "lighten the blow" from the Great Recession. [ABSTRACT FROM AUTHOR]

Purpose: Real estate investment trusts (REITs) are historically considered as attractive assets to investors particularly as the underlying assets are properties which are income-producing. REITs also distribute substantial amount of profits as dividends to shareholders. Stephen and Simon (2005) find that REITs in a mixed asset portfolio of stocks and bonds enhance returns and reduce risk. This paper examines the role a pandemic (COVID-19) plays in the performance of global REITs index and REIT sectors. Design/methodology/approach: To examine the effects of COVID-19 on REITs, the year-to-date (YTD) returns of global returns index and REITs sectors in the United States are observed and a comparative analysis is employed from January 2020 to May 2020. Findings: Based on a three-month return ending 22 May 2020, FTSE EPRA NAREIT index is the biggest loser at −31.83% whilst the FTSE EPRA Asia–Pacific index has the lowest loss at −23.20%. The author examines YTD returns which show disparities on the effect of COVID-19 on REIT sectors. The US market is examined; most REIT sectors suffered big losses as at April 2020; the analysis reveals YTD returns for the top three REIT sector losers are lodging/resort REITs (−45.81%), retail REITs (−41.16%) and office REITs (−22.63%). Data centre REITs are the only sector REITs with positive returns at 17.66%. Practical implications: Most sector REITs during the pandemic have lost considerable value based on YTD returns as at May 2020. Flight to quality is expected during this uncertain period to REITs such as data REITs, grocery-anchored REITs and storage REITs. These REITs are not as adversely affected by COVID-19 in comparison to other REITs. Originality/value: This paper identified the impact of COVID-19 on the performance of global REITs and US sector REITs during the periods from January 2020 to May 2020. [ABSTRACT FROM AUTHOR]

Natural and human‐caused disasters pose a significant risk to the health and well‐being of people. Journalists and news organisations can fulfil multiple roles related to disasters, ranging from providing warnings, assessing disaster mitigation and preparedness, and reporting on what occurs, to aiding long‐term recovery and fostering disaster resilience. This paper considers these possible functions of disaster journalism and draws on semi‐structured interviews with 24 journalists in the United States to understand better their approach to the discipline. A thematic analysis was employed, which resulted in the identification of five main themes and accompanying subthemes: (i) examining disaster mitigation and preparedness; (ii) facilitating recovery; (iii) self‐care and care of journalists; (iv) continued spread of social media; and (v) disaster journalism ethics. The paper concludes that disaster journalism done poorly can result in harm, but done well, it can be an essential instrument with respect to public disaster planning, management, response, and recovery. [ABSTRACT FROM AUTHOR]

This paper adopts a socio-historical perspective to explore when, how and why the eradication of poliomyelitis has become politicised to the extent that health workers and security personnel are targeted in drive-by shootings. Discussions of the polio crisis in Afghanistan and Pakistan have tended to focus on Taliban suspicions of a US-led public health intervention and the denunciation of ‘modernity’ by Islamic ‘extremists’. In contrast, this paper considers a broader history of indigenous hostility and resistance to colonial immunisation on the subcontinent, suggesting how interconnected public health and political crises today have reactivated the past and created a continuity between events. The paper explores how the biomedical threat posed by polio has become intertwined with military and governmental discourses premised on the ‘preemptive strike’. Here, the paper tracks the connections between biological immunity and a postcolonial politics that posits an immunological rationale for politico-military interventions. The paper concludes by reflecting on the consequences for global public health of this entanglement of infectious disease with terror. [ABSTRACT FROM PUBLISHER]

The financial crisis started in 2007-8, initially in the US, but its consequences have been felt throughout the global economy. However, its effects were far from uniform. While parts of Asia and Africa continued to grow fast, Europe experienced a large set back. This paper emphasizes three important factors: differences across countries in technological development; differences in capacities to exploit the opportunities offered by technology; and differences in the ability to compete in international market. A formal model, based on this approach, is developed and applied to data for 100 countries in the period 1997-2012. Empirical indicators reflecting the various factors are developed, a dataset constructed and econometric estimates of the model performed. The results are used to explore the factors behind the slowdown in economic growth, with a particular emphasis on the continuing stagnation in Europe. A major factor turns out to be the increased financialization of the economy. The negative effect of the growth of finance prior to the crisis is especially pronounced for the countries that suffered most during the crisis. [ABSTRACT FROM AUTHOR]

This paper offers a specific analysis of speculation bubbles in the economic history of the world, and then tries to identify the causes and effects of the speculation bubble on the real estate market in the USA, which was the main cause of the subprime crisis. The first part of the paper aims at defining the phenomenon of economic fluctuations and speculation bubble and presenting the most popular theories of overinvestment, which emphasize the importance of speculation phenomenon. The next part of the article describes direct causes of subprime crisis. Special attention has been paid to the processes taking place on the real estate market in the USA in the past fifteen years. The final section of the paper is a synthesis of theorems by the economists of Austrian School and Hyman Minsky, and then confronting them with real processes in the US economy in recent years. [ABSTRACT FROM AUTHOR]

This paper is in the form of a case study that relates how KPMG's crisis management, business recovery and risk mitigation plans, methods and organisation were applied to ensure its clients' services were not compromised following significant damage to a major office following an arson attack. The paper describes the firm's overall business continuity management (BCM) approach and its key principles, drawn from established BCM, emergency services and psychology sources. The narrative element of the article tracks the event timeline and the firm's corresponding response. The overall management of the incident and its consequences were deemed successful, validating a lean BCM training and exercise regime. A significant learning point was the need to manage numerous stakeholders' interests, engaging on several fronts in parallel, to engender consensus and to expedite decision making. The paper offers practical suggestions to help organisations manage the impact of crisis events on their employees and clients. [ABSTRACT FROM AUTHOR]

This paper investigates the role of USA in promoting of economic order (Ordoliberalism) in Germany after the second world war and further its impact on the bottom- up process of Europeanization. Moreover, the United States of America as a modern federation has become an inspiration for European federation concepts. The main hypothesis is contained in the statement that the depart from the policy of order by the USA has been disastrous for international order. The consequence of this was financial and economic crisis, which further deepened the EU and EMU disorder. [ABSTRACT FROM AUTHOR]

This paper locates social structure of accumulation (SSA) theory in relation to traditional Marxism. It then applies SSA theory to analyze the current trajectory of system transformation in the global system. Drawing lessons from the global crisis of the 1930s, it uses SSA theory to illuminate the causes and possible consequences of the system transformation that now appears to be developing—a transformation that may be replacing parliamentary democracies by right-wing nationalist repressive regimes in many countries. [ABSTRACT FROM AUTHOR]

This article theorizes how crises and markets shape the responses of consumers and producer organizations. We advance four propositions: 1) if a crisis requires major revisions in operational rules, less-exit sensitive (i.e., monopoly-like) organizations shall revise to aggregate preferences of organized producers; and more-exit sensitive (market-oriented) organizations, to the preferences of individual consumers; 2) if a sustained crisis widens the gap between incumbent organizations and consumer preferences, more consumers shall exit to alternative organizations; 3) if the incumbent organization controls valued resources, consumers shall select more-bounded exit options, which retain formal-legal ties with the incumbent; and 4) compared to less-bounded exit, more-bounded exit options shall enhance consumers' collective voice about incumbent organizations. We inductively derive our theory from an exploratory analysis of educational organizations in US and South Korea during the Covid-19 pandemic in 2020. Many consumers were dissatisfied with regular-public schools and considered various exit alternatives, including non-regular schools (e.g., private, charter [US], homeschooling [US], special-purpose [Korea]) and private supplemental education. Compared to less-bounded exit (e.g., private schools), more-bounded exit options (e.g., charter, PSE) grew more, and contributed more to consumer voice about regular-public schools, during the pandemic. [ABSTRACT FROM AUTHOR]

Purpose – The aim of this paper is to present the initiatives that libraries and information services should take from the standpoint of management or services in times of economic crisis or recession such as the one currently occurring. When budget cuts, downsizing and cuts in equipment are continuous, it is important to reflect on the path that each library should take to overcome the crisis while providing users the services they require. Design/methodology/approach – There are projects internationally, including, inter alia, Pulman and Calimera, which highlight the supportive role of lifelong training, of both formal and informal education and of the libraries' contribution to social and economic development. They even claim that along with archives and museums, libraries should collaborate in developing a strong local economy by supporting local businesses and industry in different ways (offering information services, stimulating the acquisition of basic skills and providing career guidance). Logically, the public library is not the only – and may not even be the principal agent or the one most associated with this problem – which can address job insecurity, economic hardship and people's need for training. However, in the author's view it can have a significant and active role, in coordination with other agents, and it is important to take advantage of its potential: its collections, the training of its staff members, its familiarity with the everyday life of towns and cities, its openness to everyone without any preconditions, etc. Findings – In recent years some libraries have seen their financial resources reduced, or have remained stagnant in face of an increased demand for service. A first consideration in this context, which might be very hard but is unavoidable when faced with such a reality, is the need to rethink which services to keep and which to reduce or cancel if there is insufficient funding. At times it is necessary to choose what to do without. Originality/value – Public libraries are increasingly becoming more of a social space where all people can go for information, learning and culture, regardless of their age, level, training or background. The library as a resource, which in many cases is public, and which enables individuals to enjoy their right to information should be defended to the fullest in times such as these. Also, to the greatest extent possible, libraries should be used in a compensatory manner, targeting people with fewer resources who are in need of skills that enable them to return to the workplace or reduce the consequences of lack of income. [ABSTRACT FROM AUTHOR]

How do crises shape policy possibilities? While some scholars cast crises as material shocks, this paper offers a Post Keynesian or constructivist theory of crises as events that agents interpret. It contrasts opposing Galbraithian and classical interpretations of the 1962 steel crisis and the 2000-2001 California energy crisis. Whereas Galbraithian interpretations of the former stressed abuses of market power and legitimated wage-price guideposts, classical interpretations of the latter stressed regulatory excesses and delayed the imposition of price caps. This paper concludes that the absence of wage-price guidelines compelled the post-1970s use of austerity to limit inflation, explaining reduced U.S. growth. [ABSTRACT FROM AUTHOR]

This paper investigates bank structural funding vis-à-vis bank failures. An empirical analysis is conducted on the defaults of commercial banks occurred in the United States between 2007 and 2009. The results highlight that structural funding position indeed plays a significant role in explaining the probability of bank defaults. A balanced funding position, with more deposits and a lower loans-deposits gap to be filled with wholesale funding, positively contributes to the resilience of the banks. Not all deposits are, however, the same: within deposit funding, the higher the reliance on the less-stable components the more likely a bank is to face distress. Results are robust to the sampling and modelling choices as well as to the variable specification used. While the empirical analysis focuses on the US and the loan-to-deposit ratio, the findings can be easily generalized to any banking system, and the relevant policy messages can be extended to the banking stability impacts of the Basel III structural funding regulation. [ABSTRACT FROM AUTHOR]

Purpose: Guided by the Comprehensive Model of Information Seeking (CMIS), this article identifies significant predictors that impact individuals seeking COVID-19 information. People with different political ideologies read contradictory information about the COVID-19 pandemic. However, how political ideology may affect COVID-19 information seeking remains unclear. This study explores the major information channels for individuals with different political ideologies to seek COVID-19 information. It further examines how political ideologies influence CMIS's effectiveness in predicting online health information-seeking. Design/methodology/approach: This study collected 394 completed survey responses from adults living in the United States after the 2020 lockdown. ANOVA analyses revealed the differences in salience, beliefs, information carrier characteristics, utilities and information-seeking actions between Liberals and Conservatives. Regression analyses discovered variables that predict Liberals' and Conservatives' online health information seeking. Findings: Results suggest that the internet is the top channel for COVID-19 information seeking. Compared to Conservatives, Liberals report more COVID-19 information-seeking actions. Liberals also express stronger salience, perceive higher trustworthiness of online COVID-19 information, are more likely to think of seeking online COVID-19 information as useful and helpful and report more substantial efficacy to mitigate the risk. Most CMIS variables predict Liberals' information seeking; however, only salience significantly predicts Conservatives' information seeking. Originality/value: This article indicates that CMIS should include political ideology to refine its prediction of information seeking. These findings offer practical implications for designing health messages, enhancing information distribution and reducing the public's uncertainty. Peer review: The peer review history for this article is available at: https://publons.com/publon/10.1108/OIR-08-2022-0436. [ABSTRACT FROM AUTHOR]

This analysis seeks to demonstrate the theoretical and empirical salience of the 'law of the tendency of the rate of profit to fall' in relation to the concrete evolution of the US economy between 1950 and 2020. The theoretical-methodological approach adopted in this study is based on the work of Shane Mage and Murray E.G. Smith. This approach re-specifies the Marxian value categories and ratios for purposes of empirically operationalizing them as a theory of fundamental capitalist dynamics using national accounting data. Contributions include (1) the treatment of systemically necessary unproductive labour as a 'constant capital overhead cost' and (2) a method of managing 'fictitious profits' that are imputed into the national accounts and thereby enabling a more realistic estimate of 'social surplus value' (the numerator of the Marxian average rate of profit) in what has become an 'era of fictitious capital'. The empirical findings reveal a persistent rise in the organic composition of capital, as well as a rise in the rate of surplus value, accompanied by a long-term downward trend in the average rate of profit in the postwar US economy. [ABSTRACT FROM AUTHOR]

Purpose -- This paper aims to address the question of who gained and who lost in the financial crisis of 2008. Design/methodology/approach -- Gains and losses were identified by groups ranging from bankers to homeowners to taxpayers. Findings -Gains and losses are not neatly split by a main street/Wall street dichotomy. Major financial institutions and their chief executive officers made huge gains followed by bigger losses, a substantial portion of which were shared by taxpayers. Homeowners and taxpayers consistently lost. Workers and real estate developers experienced a mixture of gains and losses. Practical implications -- Financial legislation is affected by questions of who won and who lost. The complex mixture of gains and losses must be fully grasped if winners and losers are an important consideration in the design of legislation. Originality/value -- The detailed analysis and model of winners and losers provide important lessons for legislators and regulators in all countries. [ABSTRACT FROM AUTHOR]

This paper employs the capability approach to explore how Latina/Latino migrants in Central Illinois—an area of the Midwest (or Heartland) that lies outside the traditional metropolitan destinations—were coping with the local effects of the global economic crisis of the late 2000s. The crisis affected the capabilities of Latina/Latino migrants to pursue work that provided sufficient income to meet their families' basic needs. Exacerbating the crisis were high prices for food that persisted in the wake of the food price crisis of 2007/08 and further limited purchasing power. Using a case study, we focus on the migrants' capabilities to have control over their environment through employment and entrepreneurship, as well as agency in use of their income (such as sending remittances), which affects the capabilities of affiliation, respect, and emotions. In the 20 in-depth interviews with migrant women and men, we find that most interviewees reported their hours and pay had been cut. Strategies included cutting back on remittances, turning to self-employment, and some new use of support programs. The strategies had different gender dimensions with implications for capabilities that often made them more challenging for male migrants than female migrants. [ABSTRACT FROM AUTHOR]

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Badalian and Krivorotov (2012) not only acknowledge the strong link between the crisis of 2007 and the 1990s technological paradigm, but they also accept the complementarity between overinvestment in new technologies and increasing financial liquidity that we highlighted in our article "A Financialized Monetary Economy of Production." They argue that a similar trend seems to have also characterized Great Britain between the end of the nineteenth century and the first decade of the twentieth century. Thus, in this paper, we try to deepen the comparison between the regime of accumulation led by Great Britain during the nineteenth century and the finance-led regime of accumulation led by the United States that has characterized contemporary capitalism since the 1990s. We also explain the main differences between the growth patterns during these two periods. Furthermore, we criticize the monetary theory proposed by Badalian and Krivorotov for failing to consider both the store of value function and the credit function of money. This leads to two major misconstructions: the first relating to the interpretation of the financial circuit typical of the international payment system used between 1870 and 1907; the second relating to the definition itself of financialization. [ABSTRACT FROM AUTHOR]

Copyright of Revista Derecho del Estado is the property of Universidad Externado de Colombia and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

The paper tries to examine the effects of economic crisis on philosophical considerations of distributive justice. It tackles the problem of a radical increase in scarcity as a condition of justice. Instead of assuming a relatively fixed ("moderate") level of scarcity as a background against which justice in distribution obtains, the paper examines what happens when this level risks falling below and how does that change our views of distributive justice. It takes upon the recent events in the United States to construe a specific philosophical model and ask how crisis distribution, where that favors wealthier actors, can be justified. By analyzing the crisis distribution principle, it ultimately aims to suggest that moderate scarcity should not be seen as a mere condition, but an important and vital object of justice. As such it falls within, not beyond legitimate obligations of democratic [ABSTRACT FROM AUTHOR]

The free-market economy is being continually challenged - by governments, monopolies, 'too big to fail' enterprises, global banks and social experimentation. Crisis is still considered to be a failure of the capitalistic system rather than a failure of politicized state and governmental institutions unable to abstain from interfering with free-market fundamentals. Crisis represents a necessary catharsis which periodically renews and regenerates prevailing business ecology. At the same time, especially with the current crisis, the system is undergoing fundamental transformation, change of paradigm and change of dominant business models. Transformations get naturally confounded with crises. Man's failure and challenge is that we repeatedly fail to do the catharsis of crisis - without the crisis. Disentangling the phenomena of crisis from those of transformation is the main charge of this paper. We address the issues of unemployment in the post-crisis environment, especially in the U.S. We trace the difficulties to treating economy as a deterministic machine while it behaves as an adaptive organism. [ABSTRACT FROM AUTHOR]

The dramatic purchase of corporate equities by the U.S. government in 2008 marks a distinct change in the way crises are handled. While many fear that this represents a move toward socialism, others look forward to the progressive possibilities. This paper argues that the policy of massively purchasing stocks is an attempt to provide support for equity values when no other bull could be found. This policy was used because high share values provide important class conditions of existence for capitalist exploitation today. As a consequence, the move to “nationalize” is viewed here as an attempt to protect the capitalist status quo. In this regard, the goals of current government policy are no different from past interventions. [ABSTRACT FROM AUTHOR]

This paper deals with several of the issues induced by the present day crisis, as seen from an EU academic perspective. It draws on the fact that the triggering point was easily located by most European sources in the USA and tries to depict objectively this exogenous/endogenous situation that was distorted in so many ways by partisan views. Further on, it browses through the potential ways out of the crisis, analyzing schemes that could be interpreted as either global, European or/and Romanian ones. The whole approach has objectively embedded micro/macroeconomics content, as well as of economic policies within this negative juncture, but beyond this the focus would be on how these themes should be taught to Romanian undergraduate students. [ABSTRACT FROM AUTHOR]

True crises, such as the recent failure of the financial markets, test the capacity of the permanent bureaucracy. Leadership, responsiveness, and creativity, as well as stability and practicality, were put to the test in the intense summer and fall months of 2008. Major financial institutions failed or sat on the brink of failure, liquidity froze, the credit market vanished, foreclosure rates soared, and the government struggled to prevent further economic collapse. Just as critically, the capacities of regulatory foresight and independence, along with long-standing regulatory procedures, had in effect been tested in the decade leading up to the crisis. What was the impact of the Bush Administration's management of the financial regulatory bureaucracy over his eight-year presidency? What was its impact in the midst of the crisis at the close of his last term? This paper examines the longer-term capacity of foresight—the expertise and independence to see a crisis on the horizon and to speak truth to power in the midst of economic boom time—and the short-term capacities of responsive competence in the form of policy and administrative answers to the immediate challenges of the crisis itself. [ABSTRACT FROM AUTHOR]

This paper presents a case that the financial and economic crisis that began in the United States in 2008 indicates the start of a systemic crisis of neoliberal capitalism. The same institutional features of neoliberal capitalism that promoted a series of long economic expansions over several decades also created long-run trends that have led to a systemic crisis. Major economic restructuring is likely to follow. [ABSTRACT FROM AUTHOR]

This paper examines the dependability of the Event Assessment Tool over time. The latter is part of a CD-ROM—Emergency Risk Communication CDCynergy—distributed primarily to public information officers in the United States by the Centers for Disease Control and Prevention. The Event Assessment Tool is designed to aid emergency professionals in identifying the magnitude of a crisis event and to suggest appropriate actions to confront such a situation. Applied twice during the 2001 anthrax bioterrorism crisis in Boca Raton, Florida, the tool functioned in a binary manner by first indicating a moderate crisis level (on 4 October) and then four days later (on 8 October) a highly intense crisis, suggesting that it is time sensitive. This anthrax event provides an opportunity for crisis and disaster managers to understand the dynamic nature of crises. Rapid changes during these types of events suggest that any metric used to predict intensity must account for this variability. Additional limitations and implications of the tool are discussed. [ABSTRACT FROM AUTHOR]

Research examining whether visuals improve publics’ crisis and disaster information comprehension is scarce despite the increasing popularity of infographics and visual-based social media in public relations practice. One disaster communication platform that is ideal for testing the potential effects of visuals on helping publics protect themselves during disasters is Wireless Emergency Alerts (WEAs). WEAs are 90-character warnings issued by governments and sent by wireless carriers to individuals (for free) facing an imminent threat such as a tornado or flood. The U.S. government is considering adding maps to future WEAs. Maps are one of the most relied-on tools for people to quickly gain knowledge about spatial tasks such as evacuating during disasters. Consequently, this paper empirically tests how at-risk publics respond to warning messages with and without maps. We do so through two experiments ( N 1 = 767, N 2 = 550) of U.S. adults testing three disasters: a tsunami, an active shooter incident, and a radiological disaster. [ABSTRACT FROM AUTHOR]

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