In England selection and guidance are based on one or a combination of the following methods: interviewing, assessment over a period, written examinations and objective grading…
This new measure of consumer law of some forty‐odd sections, a short Act by present standards but as far‐reaching as any legislation since the war, establishes a code of conduct…
Abstract
This new measure of consumer law of some forty‐odd sections, a short Act by present standards but as far‐reaching as any legislation since the war, establishes a code of conduct in commerce and trade which few will be able to ignore, from the manufacturer down to the counter‐hand. Operative from November 30th of this year, traders will require to urgently consider their sales practices, advertising, labelling and their trade descriptions; sales staff will need to be instructed in their new responsibilities. The new law is not just for consumer‐retailer transactions, but extends to trade between different branches of all trades, so that a retailer will be protected against misleading descriptions and misrepresentations by a manufacturer and the latter against misdescriptions of ingredients or components.
The equation of unified knowledge says that S = f (A,P) which means that the practical solution to a given problem is a function of the existing, empirical, actual realities and…
Abstract
The equation of unified knowledge says that S = f (A,P) which means that the practical solution to a given problem is a function of the existing, empirical, actual realities and the future, potential, best possible conditions of general stable equilibrium which both pure and practical reason, exhaustive in the Kantian sense, show as being within the realm of potential realities beyond any doubt. The first classical revolution in economic thinking, included in factor “P” of the equation, conceived the economic and financial problems in terms of a model of ideal conditions of stable equilibrium but neglected the full consideration of the existing, actual conditions. That is the main reason why, in the end, it failed. The second modern revolution, included in factor “A” of the equation, conceived the economic and financial problems in terms of the existing, actual conditions, usually in disequilibrium or unstable equilibrium (in case of stagnation) and neglected the sense of right direction expressed in factor “P” or the realization of general, stable equilibrium. That is the main reason why the modern revolution failed in the past and is failing in front of our eyes in the present. The equation of unified knowledge, perceived as a sui generis synthesis between classical and modern thinking has been applied rigorously and systematically in writing the enclosed American‐British economic, monetary, financial and social stabilization plans. In the final analysis, a new economic philosophy, based on a synthesis between classical and modern thinking, called here the new economics of unified knowledge, is applied to solve the malaise of the twentieth century which resulted from a confusion between thinking in terms of stable equilibrium on the one hand and disequilibrium or unstable equilibrium on the other.
Details
Keywords
Katherine Brown Rosier and David A. Kinney
This volume of Sociological Studies of Children and Youth showcases the timely and important work of active, early career sociologists, who are helping to define the direction of…
Abstract
This volume of Sociological Studies of Children and Youth showcases the timely and important work of active, early career sociologists, who are helping to define the direction of the sub-field. Their work shares basic premises and concerns, and these underlie and provide cohesion to this diverse collection of chapters. Children and youth are active agents in their own “socialization,” producing meaning and action collaboratively with their peers, and they struggle for agency and control in various social contexts – these are the themes that, both explicitly and implicitly, shape essentially all of the contributions. The underlying concern of our own introduction above, and of many of the chapters, is that the current processes and practices may stifle children's creativity and undermine their potential to collaboratively construct innovative solutions to societal problems.
To explain education in London is at the the same time to outline the history and development of much of the nation's educational progress since the 1870 Education Act. It is also…
Abstract
To explain education in London is at the the same time to outline the history and development of much of the nation's educational progress since the 1870 Education Act. It is also to attempt to grasp an administrative phenomenon that encompasses a population of over three million people yet retains a very real identity first through the old LCC, and now through the ILEA.
David Mackay and Malcolm Rosier
Draws on recent research on the impact of electronic data interchange (EDI) on the Australian automotive industry. The often considerable efforts by large corporations towards the…
Abstract
Draws on recent research on the impact of electronic data interchange (EDI) on the Australian automotive industry. The often considerable efforts by large corporations towards the globalization of production and distribution has led such firms (typically multi‐national corporations) to invest in technologies designed to improve the efficiency and effectiveness of their global operations. In this context, one such technology is EDI. Much has been written about EDI and, in particular, the benefits that adopters can expect from using this comparatively simple, facilitating technology. While many authors are quick to extol the virtues of EDI, rarely have they documented the actual benefits and costs to an organization from adoption. Examines the impact of EDI on trading partners in the Australian automotive industry. Research consisted of a longitudinal study (between 1992 and 1994) of all component manufacturers which were supplying components to the large locally‐based multi‐national vehicle assemblers (Ford, General Motors‐Holden (GMH), Mitsubishi and Toyota). It is the component manufacturers who have felt the major impact of their larger customer’s requirements to become EDI capable.The alternative was to cease supplying the automotive industry. Following the establishment of a conceptual model, path analysis was used to analyse support for a number of hypotheses in measuring the extent of benefits to the organization from using EDI. Conclusions so far drawn support the hypothesis that benefits were being achieved depending on the degree of commitment of the organization to issues such as system integration, and level of senior management involvement. A number of suppliers found that despite being forced into EDI adoption, they were obtaining some competitive advantage, and having received new business (e.g. international contracts) partly as a result of being EDI capable.
Details
Keywords
Adam Abdullah, Rusni Hassan and Salina Kassim
The purpose of this paper is to provide a real asset management investment appraisal of the performance of containerships as a primary segment within international shipping, to…
Abstract
Purpose
The purpose of this paper is to provide a real asset management investment appraisal of the performance of containerships as a primary segment within international shipping, to facilitate Islamic equity investment through a shipping fund. The objectives are to evaluate the risks and returns of shipping under the framework of Islamic equity finance, and to analyze the performance of investing in containerships over the long term, to appeal to retail and institutional clients of Malaysian asset management institutions.
Design/methodology/approach
Accordingly, the methodology adopts an investment analysis of a full population of historical data over a period of 20 years, to evaluate performance involving a maritime return on investment (MROI), internal rate of return (IRR), net yield and standard deviation measures of risk and return.
Findings
The findings reveal that while earnings are volatile in comparison to capital market expectations, unlevered, tax-free returns on containership investments outperform financial and other real assets.
Research limitations/implications
Shipping is a strong growth industry with about 84 per cent of global trade carried out by the international shipping industry. The problem is that many Islamic asset management institutions and investors have essentially no exposure to Islamic investment in international shipping.
Practical implications
However, shipping is a highly capital-intensive industry, and currently 75 per cent of ship lending has been conducted by European banks and financed on a conventional basis. Post-financial crisis, ship owners, ship lenders and shipyards have all been exposed to the impact of over-levered balance sheets and debt finance. There is a demand for alternative sources of finance.
Social implications
By communicating risk and reward more effectively, retail and institutional investors, as well as Islamic finance institutions, will realize that the social benefit of equity finance on the basis of profit sharing is more efficient at allocating investible resources than debt finance at interest, thereby increasing investment and economic growth.
Originality/value
The significance is that Islamic equity finance, rather than debt at the time-value of money, should enhance the development of international shipping.
Details
Keywords
The analyses of trends in prosecutions under the Food and Drugs Act, 1955 and the various regulations, which we have prepared every two years or so, covering a three‐month period…
Abstract
The analyses of trends in prosecutions under the Food and Drugs Act, 1955 and the various regulations, which we have prepared every two years or so, covering a three‐month period, have been so much appreciated by readers, both in the administration and the industry itself, that we have prepared a more extended survey, covering the whole of 1966. The survey, as before, takes the form of a month‐by‐month analysis of reports of legal proceedings received by us from all parts of the country, and as formerly records the prosecutions under similar groupings; cases under Section 2, subdivided into those relating to compositional offences, the presence of foreign bodies and those relating to mouldy food: false description cases under Section 6 of the Merchandise Marks Acts; Section 8, the unfit food provision, also subdivided with special categories for foreign bodies and mouldy food; Section 32, milk cases; cases under the Food Hygiene Regulations, 1960, with smoking offences separated; the Milk and Dairies Regulations, consisting almost entirely of prosecutions under Reg. 27, Meat Regulations, Preservative Regulations, Colouring Matter in Food Regulations, etc.
The way of thought and vision and memory is that they often come upon you unexpectedly, presenting nothing new but usually with a clarity and emphasis that it all seems new. This…
Abstract
The way of thought and vision and memory is that they often come upon you unexpectedly, presenting nothing new but usually with a clarity and emphasis that it all seems new. This will sometimes happen after a long period of indecision or when things are extremely difficult, as they have long been for the country, in most homes and among ordinary individuals. Watching one's life savings dwindle away, the nest‐egg laid down for security in an uncertain world, is a frightening process. This has happened to the nation, once the richest in the world, and ot its elderly people, most of them taught the habit of saving in early youth. We are also taught that what has been is past changing; the clock cannot be put back, and the largesse—much of it going to unprincipled spongers—distributed by a spendthrift Government as token relief is no answer, not even to present difficulties. The response can only come by a change of heart in those whose brutal selfishness have caused it all; and this may be a long time in coming. In the meantime, it is a useful exercise to consider our assets, to recognize those which must be protected at all costs and upon which, when sanity returns, the future depends.
ELSEWHERE in this number we list libraries which have Esent us copies of their annual reports which we are glad to have. Now and again we are able to elaborate on these, but in…
Abstract
ELSEWHERE in this number we list libraries which have Esent us copies of their annual reports which we are glad to have. Now and again we are able to elaborate on these, but in the present issue that has not been possible. We would say, however, that these reports are deserving of the attention of librarians generally, and of students at the library schools. They are records of work in progress, and they do suggest the development of library policy. The best of them are of textbook value.