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In a groundbreaking new study, acclaimed scholar of global capitalism William I. Robinson presents a bold, original, and timely 'big picture' analysis of the unprecedented global crisis. Robinson synthesizes the different economic, social, political, military, and ecological dimensions of the crisis, applying his theory of global capitalism to elucidate these multidimensional and interconnected aspects. Addressing urgent issues such as economic stagnation, runaway financial speculation, unprecedented social inequalities, political conflict, expanding wars, and the threat to the biosphere, he illustrates how these different dimensions relate to one another and stem from the underlying contradictions of a global system spiralling out of control. This is a significant theoretical contribution to the study of globalization and capitalist crisis, in which Robinson concludes that the conditions for global capitalist renewal are becoming exhausted.
The European Union (EU) has embraced the “twin transition” – the simultaneous pursuit of digitalisation and ecological transformation – as a cornerstone of its industrial policy. EU lawmakers argue that digital technologies can advance environmental protection by enhancing environmental monitoring, optimising resource use, and enabling data-driven sustainability efforts. However, this vision tends to overlook the environmental costs of digitalisation, including rising energy and water consumption, intensive resource extraction, and the proliferation of electronic waste. This article critically examines whether EU law is adequately equipped to support a twin transition, drawing on a black-letter analysis of EU legal provisions, as well as insights from science and technology studies and critical environmental law. It posits that, while environmental law plays a significant role in the datafication of the environment and the digitalisation of society, it falls short in regulating digital technology and data in ways that advance sustainability. For the twin transition to evolve beyond a political slogan and deliver real ecological benefits, substantial legal reforms would be required. The regulation of digital technology would have to move beyond corporate self-regulation and disclosure-based models of environmental governance. Data governance should be reoriented to emphasise freedom of access and a more deliberatively restrained approach to data generation.
The past decade has witnessed the creation of a new international tax regime (ITR). Since the advent of globalization in the 1980s and digitalization in the 1990s, the original ITR ceased to function as intended. The main problems were the increased mobility of capital related to intangibles, a relaxation of capital controls, and increased tax competition. The outcome was a significant fall in tax revenues that threatened the social safety net of the modern welfare state. The financial crisis of 2008 and harsh austerity measures led the public to pay attention to rich individuals and large corporations paying little tax on cross-border income. A new ITR has been created to resolve those problems. In particular, the United States enacted the Foreign Account Tax Compliance Act, which contributed for the OECD to develop a Common Reporting Standard for the automatic exchange of information; the OECD launched the Base Erosion and Profit Shifting project 1.0; and the EU enacted the Anti-Tax Avoidance Directives. These developments still have some limits, resulting in the advent of BEPS 2.0 consisting of two Pillars. The key question is how the new ITR will deal with inter-nation equity.
This chapter argues that the risks of deflation and inflation and the financial crises at the start of the twenty-first century led to a “crisis,” with declining public confidence in money and the institutions that govern it, primarily the central banks. We describe the alternation of stability ad instability phases in the last half century. The postwar stability phase based on the Bretton Woods system ended in 1971. The end of the Great Inflation in the early 1980s opened the way to another stability phase, lasting until the Great Financial Crisis of 2008–09. A trait of this period was the liberalization and expansion of global capital markets. In the subsequent period – 2008 to today –the boom of digital and crypto finance took place. This period coincides with unprecedented activism of central banks aimed at supporting economic activity, fending off the risks of deflation and, in Europe, preserving the cohesion of the euro under threat from sovereign debts and a fragile banking sector. Lax monetary conditions, inflation, debilitated banks – these factors created an easier ground for competitors to challenge a traditional financial sector in a state of crisis.
This paper develops a theoretical framework to examine the technology adoption decisions of insurers and their impact on market share, considering heterogeneous customers and two representative insurers. Intuitively, when technology accessibility is observable, an insurer’s access to a new technology increases its market share, no matter whether it adopts the technology or not. However, when technology accessibility is unobservable, the insurer’s access to the new technology has additional side effects on its market share. First, the insurer may apply the available technology even if it increases costs and premiums, thereby decreasing market share. Second, the unobservable technology accessibility leads customers to expect that all insurers might have access to the new technology and underestimate the premium of those without access. This also decreases the market share of an insurer with access to the new technology. Our findings help explain the unclear relationship between technology adoption and the market share of insurance companies in practice.
The rise of online voicing and campaigns empowered by digital technologies and online social media is rejuvenating retail investor activism that has been mostly ignored in the traditional offline setting. This article argues that online activism that is initiated by retail investors will affect managerial attention intensity and attention priority on environmental issues, thus promoting green innovation. Using a Chinese-listed companies database with 13,795 firm-year observations over the period from 2011 to 2018, our results confirm that online environmental activism induces corporate green innovation. Online activism is more effective when the retail investor base holds larger shares in total and presents questions with a more intensely negative tone. Additionally, the above-mentioned moderating effects are stronger in digital firms. Our study offers insights into the online patterns of shareholder activism in the digital era and highlights the role of minority voicing in promoting corporate sustainable transformation.
There is a large body of academic literature about financial inclusion and financial exclusion in both applied and theoretical works. The causes, sizes, and consequences of both phenomena are analyzed and evaluated, which leads to the formulation of conclusions and recommendations as to how to enhance financial inclusion. This chapter surveys not only the traditional perspective of financial inclusion and exclusion but also the role of new technologies, providing innovative solutions behind the concept of digital banking inclusion. Moreover, the chapter considers new possibilities for adopting digital financial services that result from lockdowns and promotion of contactless modes of payment to reduce the risk of viruses spread through the handling of cash. With regard to the increased use of digital banking access channels, the importance of financial education in the context of ensuring cybersecurity is highlighted.
Despite the important role of state-owned enterprises (SOEs) in government policy implementation, there is a lack of research on how SOEs owned by different government entities differ. We draw on an attention-based view (ABV) to understand how central government-owned (called central SOEs) and local government-owned enterprises (called local SOEs) differ in their response to digitalization, a major state objective in China in recent years. The two types of SOEs differ in the foundational feature of attention structure – the rules of the game (as embodied in their different goals, identities, and evaluation of top executives) – as well as important features such as governance structures and resources. These features can trigger more attention in central SOEs to digitalization. Given the interdependence of these features in shaping the structural distribution of attention, we further propose how governance structures and resources can influence strategic attention differently in SOEs with different rules of the game. The arguments are tested using data from all Chinese-listed manufacturing SOEs between 2009 and 2020. The study reveals different responses to national strategy between central and local SOEs due to their distinct attention structures designed by the state. It also extends the ABV and research on corporate digital transformation.
Given the increasing use of technology and the digitalization of international trade through electronic documents, there is a need for a globally harmonized standard that caters for the legal aspects of digitalization. The Model Law on Electronic Transferable Records (MLETR) is one such law. Yet, it has not been adopted in Nigeria or several other jurisdictions. This article considers the possibility of Nigeria adopting the MLETR. To do this, the article considers the meaning of electronic transferable documents and the legal implications of digitalizing them. The article also examines the barriers and challenges to digitalizing electronic transferable records. It then considers some of the laws in Nigeria that would support electronic and digital trade transactions. Subsequently, the article highlights the benefits, challenges and hindrances to the adoption of the MLETR in Nigeria. It recommends an approach to adopting the MLETR, drawing from jurisdictions that have adopted it.
Music entrepreneurs are by nature intrinsically involved in the music industry due to lifestyle and business reasons. This study investigates the use of lifestyle entrepreneurship behaviours by taking a gender perspective about how music entrepreneurs develop commercial activities. This includes focusing on how international relationships relate to meaningful music entrepreneurial experience based on the use of social capital. Drawing on interview data from 12 female music entrepreneurs the findings highlight lifestyle identification responses to entrepreneurship as central constituents. Moreover, the study shows how female music entrepreneurs tap into their lifestyle connections based on their gender and social interests. The article contributes to the development of the music, gender, lifestyle, and digital entrepreneurship work by identifying a more interdisciplinary perspective. The practical implications for the music industry evolve around helping more female entrepreneurs break into the sector by harnessing their creative potential.
Innovation is about change: the introduction of novelty into an economic system. Managing any type of economic or organizational change is challenging because its effects are usually uncertain and affect participants unevenly. Managing technological change requires a heady cocktail of creativity, flexibility, and perseverance in the face of novelty and turmoil. This chapter explores the specia features of digital innovation of new businesses. Digital business innovation deals with improved technology-based business models for information and communication – core elements of all economic activity. Furthermore, we look at the long-term patterns of technological change and notice how digital technologies arise from the combination of electronics and instruments and lead to new kinds of technologies that accelerate invention activity itself.
This research aims to unpack how digital technologies can facilitate the flourishing of circular business practices in small- and medium-sized enterprises by structuring a detailed going circular path that explains businesses’ evolution toward circularity. In doing so, it outlines how the observed organizations have adopted – or are adopting – circular economy principles thanks to business digitalization. Following an inductive approach based on a multiple case study methodology, we investigated 16 small- and medium-sized enterprises operating in industries that put considerable pressure on the environment (e.g., manufacturing, chemical, construction, fashion, food, and beverage). Our findings confirm how digital technologies, as well as Industry 4.0 structures, play a fundamental role in shaping, enabling, enhancing, and refining circular products and processes development. Accordingly, we outline a generalizable step-by-step process to pursue circular economy by employing digital technologies. The present study represents a practical handout for guiding companies through their going circular path.
Rapid and radical digitalization and the “fourth industrial revolution” are generally associated with progress, but also pose significant risks to privacy rights and democracy. This article proposes a public law reading of the South African Constitution to respond to the dangers posed by disruptive technological change, in light of the constitution's rights-orientated and rule-of-law-centred approach to interpreting the right to privacy. It examines the legal resources available in the South African legal system and, specifically, its constitution. The article emphasizes the way South African privacy jurisprudence infuses the right to privacy with the value of dignity, and how this allows an interpretation that sees privacy as a public, as well as private, right. The article concludes that this rights jurisprudence, alongside the constitutional principles of proportionality, subsidiarity and supremacy, has established a working foundation to articulate the right to privacy in a way that is suitable in the digital age.
The unprecedented suspension of cultural events across Europe in March 2020 had a profound impact on the performing arts. Alongside the proliferation of digital and hybrid modes of theatre-making, the Covid-19 pandemic has also precipitated a substantive shift in how theatres operate at both institutional and organizational levels in an attempt to respond to the volatile economic impact of the pandemic on the culture sector. This has provided a decisive moment for the reinterpretation of the theatre landscape, raising fundamental questions relating to institutional transformation that challenge precarious working models and entrenched hierarchical divides. Drawing on wider transnational research as part of the ‘Theatre after Covid’ project, this article examines the institutional effects of the pandemic on theatre and performance in the United Kingdom and the German-speaking countries. It details the findings of a wide-ranging survey conducted in 2022 with theatre workers and organizations that address how the industry is adapting and transforming in response to the crisis. Using this new data as a starting point, it analyzes how new forms of artistic innovation have emerged during Covid-19. By focusing on these institutional and aesthetic developments, the article argues that the pandemic has produced a paradigm shift that has crucially reinscribed how theatre is created, programmed, and understood.
Globalization and robotics (globotics) are jointly transforming the world economy at an explosive pace. While much of the literature has focused on rich nations, the changes are quite likely to affect developing nations in important ways. The premise of the paper – which should be regarded as a thought-piece – is based on an extreme thought experiment. What does development look like when digital technology has rendered manufacturing jobless and many services freely traded? Our conclusion is that the service-led development path may become the norm rather than the exception; think India, not China. Since success in the service sector is based on quite different factors than success in manufacturing, development strategies and mindsets may have to change. This is an optimistic conclusion since it suggests that developing nations can directly export the source of their comparative advantage – low-cost labour – without having first to make goods with that labour.
Chapter 2 gives an extensive overview of the Fourth Industrial Revolution and how it will significantly change the way the world works. It is defined as a bridge for digital transformation and an innovative combination of “cyber-physical” systems. To better understand the 4IR, the previous three are broken down to give contextual background. The chapter highlights the exact technologies that will shape the broad themes and implications of the 4IR. These technologies include 3D printing, advanced material science, artificial intelligence, big data, blockchain, cloud computing, drones and automation, high-speed internet (5G technology), the Internet of Things, nanotechnology, and quantum computers. The technologies are explained and applied to how they are already being used in Africa or how they might be used. The chapter concludes with several themes based on the analysis of technologies and their characteristics. The four themes are productivity and sustainability, disruption and structural transformation, cooperation and inclusivity, security, privacy, and data integrity.
The chapter re-examines the case study research method and its role and contribution to the IS discipline and focuses on the current status of the case study research and the increased digitalization. The advantages of qualitative interpretive cases studies are identified, recent case studies are described and analyzed, and their contributions highlighted. These examples continue to enhance the discipline and sustain the traditional benefits of the case study research through rich data, analysis and understanding the links between people, organizations and technologies, the advancement and expansion of theory, the identification of hidden aspects, and the emergence of new concepts and theorization. Two of the cases use trace data, a type of data emerging as a product of digitalization. While these cases provide contributions, they also challenge the traditional understanding of what a case study is, and the benefits that accrue. The chapter emphasizes the need for mixed-method and multi-method case studies research in addition to trace data to enhance the benefits of the case study research.
The introduction chapter outlines the need for qualitative research in the age of digitalization. The chapter outlines the opportunities and challenges which digital technologies and digitalization provide and enable. The chapter explicates the need to understand the different aspects of digitalization, the opportunities, issues, challenges and implications at different levels (individual, work, organizational, societal) and outlines the need of qualitative research to understand these phenomena. The chapter discusses the methodological opportunities and challenges for digital qualitative research enabled through digitalization.
The chapter theorizes power, knowledge and digitalization in the digital era. It theorizes the roles of knowledge and power in the current era and how these are impacted, reinforced, redistributed, challenged and transformed through increased digitalization. The chapter develops a Knowledge-Power-Digitalization framework where the influence of episodic and systemic power on knowledge and the role of Information Systems and digitalization are outlined. The framework outlines the following quadrants: power as possession, power as asymmetries, power as empowerment and power as practice. The role of digitalization is outlined within these quadrants. The Knowledge-Power-Digitalization framework developed outlines avenues for future research in the digital era pertinent to digitalization, knowledge and power dynamics, which are important current and complex phenomena in need of qualitative research understanding and theorization.