Search results

The empirical estimates for the money demand function reported here are based on quarterly time series for Thailand for the period 1973:1 to 1985:4. The money demand function estimated is novel in that it takes into account the potential effect of external monetary developments on domestic money demand in the open economy of Thailand. The empirical results show that foreign interest rates do play an important role in the Thailand money demand function. Hence the Thailand monetary authorities should not ignore the response of domestic money demand to external factors in formulating their stabilisation policies.

DEAR SIR, It is doubtful whether great practical importance can be attached to the precise location of the sonic section in a de Laval nozzle with friction present, under the assumptions of the one‐dimensional theory of flow. The truth of the matter, however, is that the equations of this approximation do lead to the conclusion that the condition of M 1, where M is the Mach number, prevails in the throat of a convergent‐divergent nozzle only in the limiting case of no friction, contrary to Mr Spalding's assertion in the August issue of AIRCRAFT ENGINEERING. It can occur in a section for which dA/dx 0 only if that section is at the exit of a convergent nozzle.

A point repeatedly brought forward for the defence, or at all events for the purpose of mitigating the fine, in adulteration cases, is the statement that defendant's goods have been analysed on former occasions and have been found genuine. As illustrating the slight value of analyses of previous samples may be taken the average laudatory analyses on patent or proprietary foods, drinks, or medicine. The manufacturer calculates—and calculates rightly—that the general public will believe that the published analysis of a particular specimen which had been submitted to the analytical expert by the manufacturer himself, guarantees all the samples on the market to be equally pure. History has repeatedly proved that in 99 cases out of 100 the goods found on the market fall below the quality indicated by the published analyses. Not long ago a case bearing on this matter was tried in court, where samples of cocoa supplied by the wholesale firm were distributed; but, when the retailer tried to sell the bulk of the consignment, he had repeated complaints from his customers that the samples were a very much better article than what he was then supplying. He summoned the wholesale dealer and won his case. But what guarantee have the general public of the quality of any manufacturer's goods—unless the Control System as instituted in Great Britain is accepted and applied ? Inasmuch as any manufacturer who joins the firms under the British Analytical Control thereby undertakes to keep all his samples up to the requisite standard; as his goods thenceforth bear the Control stamp; and as any purchaser can at any time submit a sample bought on the open market to the analytical experts of the British Analytical Control, free of any charge, to ascertain if the sample is up to the published and requisite standard, it is plain that a condition of things is created which not only protects the public from being cheated, but also acts most beneficially for these firms which are not afraid to supply a genuine article. The public are much more willing to buy an absolutely guaranteed article, of which each sample must be kept up to the previous high quality, rather than one which was good while it was being introduced, but as soon as it became well known fell off in quality and continued to live on its reputation alone.

Aarhus Kommunes Biblioteker (Teknisk Bibliotek), Ingerslevs Plads 7, Aarhus, Denmark. Representative: V. NEDERGAARD PEDERSEN (Librarian).

The Foreign Corrupt Practices Act (FCPA) of 1977 and its amendment – the Trade and Competitive Act of 1988 – are unique not only in the history of the accounting and auditing profession, but also in international law. The Acts raised awareness of the need for efficient and adequate internal control systems to prevent illegal acts such as the bribery of foreign officials, political parties and governments to secure or maintain contracts overseas. Its uniqueness is also due to the fact that the USA is the first country to pioneer such a legislation that impacted foreign trade, international law and codes of ethics. The research traces the history of the FCPA before and after its enactment, the role played by the various branches of the United States Government – Congress, Department of Justice, Securities Exchange commission (SEC), Central Intelligence Agency (CIA) and the Internal Revenue Service (IRS); the contributions made by professional associations such as the American Institute of Certified Public Accountants (AICFA), the Institute of Internal Auditors (IIA), the American Bar Association (ABA); and, finally, the role played by various international organizations such as the United Nations (UN), the Organization for Economic Cooperation and Development (OECD), the World Trade Organization (WTO) and the International Federation of Accountants (IFAC). A cultural, ethical and legalistic background will give a better understanding of the FCPA as wll as the rationale for its controversy.

Communications regarding this column should be addressed to Mrs. Cheney, Peabody Library School, Nashville, Tenn. 37203. Mrs. Cheney does not sell the books listed here. They are available through normal trade sources. Mrs. Cheney, being a member of the editorial board of Pierian Press, will not review Pierian Press reference books in this column. Descriptions of Pierian Press reference books will be included elsewhere in this publication.

This paper presents case studies of three student teachers negotiating the demands of the National Council of the Social Studies' (NCSS) five characteristics of powerful teaching and learning (meaningful, integrative, value-based, challenging, and active instruction) while engaged in the context-specific tasks of student teaching. For these three student teachers, the context of both their teaching and beliefs about teaching combined to help them focus on two of the five characteristics more deeply than the others. These case studies suggest that social studies pre-service teachers can constructively use their student teaching semester to focus on developing strengths in those characteristics most appropriate to their beliefs about teaching and their teaching contexts, and that social studies methods courses can aid in this process by helping student teachers to reflect on these factors prior to their student teaching semester.

It has often been said that a great part of the strength of Aslib lies in the fact that it brings together those whose experience has been gained in many widely differing fields but who have a common interest in the means by which information may be collected and disseminated to the greatest advantage. Lists of its members have, therefore, a more than ordinary value since they present, in miniature, a cross‐section of institutions and individuals who share this special interest.

We understand that at the Annual Meeting of the Iron and Steel Institute it was decided to expel all the alien‐enemy members of that body. In commenting upon this action The Engineer observes that it is some time since the name of the German Emperor was removed from the list of honorary members of the Institution of Civil Engineers, but that up to the present time ordinary alien‐enemy members of this Institution have not been expelled. The same observation applies to the Institution of Mechanical Engineers.

The statement of the Minister of Agriculture, Fisheries and Food, coming so quickly after the ban on the use of cyclamates in food and drink in the United States, indicates that the new evidence of carcinogenesis in animals, placed at the disposal of the authorities by the U.S. F.D.A., has been accepted; at least, until the results of investigations being carried out in this country are available. The evidence was as new to the U.S. authorities as to our own and in the light of it, they could no longer regard the substances as in the GRAS class of food additives. It is, of course, right that any substance of which there is the slightest doubt should be removed from use; not as the result of food neuroses and health scares, but only on the basis of scientific evidence, however remote the connection. It is also right that there should always be power of selection by consumers avoidance is usually possible with other things known to be harmful, such as smoking and alcohol; in other cases, especially with chemical additives to food and drink, there must be pre‐knowledge, so that those who do not wish to consume food or drink containing such additives can ascertain from labelling those commodities which contain them.