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Country‐specific information on risk management is increasingly important, not only for investors and decision makers in international markets but also, for those in national and regional markets. This study reports the results of a cross‐sectional survey of risk management practice and derivatives use by a sample of Australian firms. Overall, the results suggest that firm‐specific factors appear to have some influence on risk management practice with the industry of the respondent being the most important, while the degree of international exposure has the least. Larger and more internationally exposed firms are likely to have more frequent reporting of derivatives use, and are more likely to use swaps and options to manage risks than other types of firms. Issues and implications for international firms are discussed.

Montreal, October 1982 — Two recent potentially disastrous occurrences on international air routes near the site of volcanic eruptions have shown the need for new procedures to warn pilots against the danger of volcanic ash.

Many scholars have noted that, since at least 1790, U.K. economic fluctuations have seemed to reach major peaks every 7–10 years. Keynes (1936, ch.18) used the elements of his theory to explain non‐periodic economic fluctuations. His explanation of periodic fluctuations, i.e. cycles, appears in Chapter 22 of the General Theory. As is well known, he believed that fluctuations in “animal spirits” (that were often only loosely connected with the cost and the real rate of return on capital) led to oscillations in investment which, combined with the durability of capital goods, caused the duration of modern major cycles; fluctuations in liquidity preference and the propensity to consume played lesser roles. Bowing to Jevons (1964), Keynes also noted that unstable agricultural inventories could have been a source of waves in the early 19th Century when agriculture was relatively more important in the U.K. But Keynes did not demonstrate just how his investment theory implied a definite cycle period, because he did not merge his multiplier with the accelerator principle to provide an endogenous explanation of periodic turning points in output. Consequently, as Hicks (1950, p. l) notes, Keynes did not demonstrate how investment and income could peak every 7–10 years; his was really a theory of nonperiodic waves.

ON AVERAGE FIGURES, all coutries in the developed world (but, regrettably, not in the third world) are able to increase their national output year by year. Examined in isolation, statistics associated with such growth (e.g. output per worker) demonstrate a comforting trend — even though the vertical scales of graphics might have been selected with that purpose in mind! The simple step of making cross‐country comparisons can, however, quickly remove some of the complacency.

The papers in this issue were given at the 25th Annual Conference, held at Bristol University from 22nd to 25th September, 1950. Some 230 delegates from the British Isles, the Commonwealth and Europe were welcomed to dinner on Friday evening by Sir Philip Morris, C.B.E., M.A., Vice‐Chancellor of the University, and Lady Morris. No papers were given on Friday evening, Mr. J. E. Wright arranging an informal dance after dinner.

Focuses on street vending in Chicago, in the USA, taking a historical perspective. Shows how it was used to alleviate unemployment in the volatile progressive era but then became mired in complaints about corruption and vice. Uses a case study of an entrepreneurial Mexican family and highlights the wisdom of earlier days by showing how street vending offers a series of choices that are different from the choices made by larger forms only in that they are more accessible to the poor.

As the most racially diverse postsecondary sector, community college student populations are heavily Black and Brown. It is well settled that for every student credit hour earned, a financial reward is generated; however, it is not until individuals attain a baccalaureate degree that they tend to have the socioeconomic power to pull themselves and their families out from poverty. Looking specifically at mathematics achievement and self-efficacy, I examine differences among pathways by institutional level—two-year, four-year, other, or no postsecondary education—and find that there is a division in the mathematics achievement and self-efficacy of Black rural Americans (US) who attend four-year institutions as compared to all others. Thus, while policies advancing free community college may enhance the visibility and perceived affordability of community colleges for Black rural Americans (US), to reduce poverty there needs to be greater attention to the mathematics achievement and self-efficacy in K-12 education.

Aside from the general anxieties (Vidler, A. 2000) inherent in modern competitive liberal capitalist democracies beset by climate change, war and tsunami, those surrounding the availability of domestic and public space, beset by uncertainty around land, shelter, drinking water and sanitation rights, are some of the most distressing for those affected.