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1 – 9 of 9I study the economic implications of the world oil market dominated by OPEC and non-OPEC major oil producing countries using a general equilibrium model of trilateral trade with…
Abstract
I study the economic implications of the world oil market dominated by OPEC and non-OPEC major oil producing countries using a general equilibrium model of trilateral trade with oil duopoly. There are three countries and three goods, x, y, and oil (z). Home (H) is endowed with good x . Foreign (F) is endowed with good y and also produces oil (z). Middle (M) is an oil producing country and supplies oil only. I consider two types of oil market structure; (1) Cournot duopoly and (2) perfect competition. I find that Foreign is actually worse off under Cournot duopoly despite being a duopolist for wide range of parameter values that reflect real world situations. This is mainly due to reduced consumption of oil and reduced value of good y endowment under duopoly when Foreign is a net oil exporter or oil autarky, and is also due to worsening terms-of-trade effect under duopoly when Foreign is a net oil importer. Welfare reversal with higher welfare of Foreign under oil duopoly occurs only under highly unrealistic parameter values, and hence the main results of the study remain robust.
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THE serious and intractable housing problem persists to plague governments and embitter citizens. Why this is so can be gleaned from a few statistics.
SOCIAL scientists have not yet been able to formulate any general laws about behaviour in industry that are capable of broad application. In recent years, however, they have made…
Abstract
SOCIAL scientists have not yet been able to formulate any general laws about behaviour in industry that are capable of broad application. In recent years, however, they have made many useful case studies of which the one just published by the Department of Scientific and Industrial Research is typical. It is an approach to the problem which can do much to increase the understanding of the way in which people react to common industrial situations.
The essays by Sauer and Cassidy have argued that significant questions can be raised philosophically and historically about the guiding assumptions of economic behaviour. One can…
Abstract
The essays by Sauer and Cassidy have argued that significant questions can be raised philosophically and historically about the guiding assumptions of economic behaviour. One can also argue that these assumptions offer a partial view of human being with an accompanying loss of the sense of the whole person. Economics tends to reduce the multiform and rich notion of person to simply a datum of economic activity. In this essay, I will argue that there is a need to re‐examine basic assumptions about what it means to be fully human. I will do this from the perspective of developmental psychology, because developmental psychology has empirically based theories that produce expectations about humanity and the future that are very different from those ascribed by economics. This essay will examine developmental theory, particularly that of Robert Kegan, to show its relevance to providing a direction for economics.
THE funeral oration pronounced by Pericles for the Athenians who perished at the battle of Marathon contained the words: ‘It is not the acknowledgment of poverty that we think…
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THE funeral oration pronounced by Pericles for the Athenians who perished at the battle of Marathon contained the words: ‘It is not the acknowledgment of poverty that we think disgraceful, but the want of endeavour to avoid it.’ His people, demoralized by plague at home and external troubles abroad, refused to heed his words, just as the world has tended to ignore similar counsel for over 2,000 years.
THE Electronic Computer Exhibition and the B.I.M. conference have provided material for serious contemplation. Sir Harold Gillett, Lord Mayor of London, opening the Exhibition…
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THE Electronic Computer Exhibition and the B.I.M. conference have provided material for serious contemplation. Sir Harold Gillett, Lord Mayor of London, opening the Exhibition suggested that we are living in the age of the second industrial revolution. There are some who share the Lord Mayor's view and others who take the whole matter in their stride. One thing is certain, we shall be able to do more—and do it more efficiently.
THE improvement in the British standard of living is generally desired. Politicians have not only subscribed to that ideal but some of them have indicated the rate at which we…
Abstract
THE improvement in the British standard of living is generally desired. Politicians have not only subscribed to that ideal but some of them have indicated the rate at which we should advance. There are, however, certain trends in the country's economic life which must be reversed if we are to make any progress in that direction.
Traces the career of the remarkable Asa Philip Randolph, who was many things to many people. He was a tireless crusader for African‐American rights, a strategic manager and…
Abstract
Traces the career of the remarkable Asa Philip Randolph, who was many things to many people. He was a tireless crusader for African‐American rights, a strategic manager and planner, a political activist, and a labour leader. Many of the changes he brought about and many of the conditions he created in the above areas continue to shape US culture today. Highlights the contributions he made to US society.
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An in-depth literature review was undertaken to uncover (1) what are described as the desired outcomes for 20 minute neighbourhoods (20MNs) – the normatively based ends which…
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Purpose
An in-depth literature review was undertaken to uncover (1) what are described as the desired outcomes for 20 minute neighbourhoods (20MNs) – the normatively based ends which planners, architects and decision-makers want 20MNs to achieve; (2) the means (the mechanisms, levers, triggers and causal factors) that have to be correctly assembled and lined up for 20MNs to operate as intended and (3), in order to avoid naive environmental determinism, the behavioural changes required to support the operation of 20MNs even where the required configuration of means can be achieved. The content analysis was conducted following guidelines offered by the Preferred Reporting Items for Systematic Reviews and Meta-Analyses (PRISMA) criteria.
Design/methodology/approach
Growing interest in the urban design concept of the “20MNs” has been greatly accelerated by the COVID-19 pandemic. It has been presented as a way of increasing the quality of local environments by enabling people to meet their daily needs through access to safe walking and cycling routes or by public transport. Internationally, it has captured the imagination of political decision-makers, built-environment practitioners and communities alike, as a life-affirming post-pandemic vision, held up as achieving environmental, health and economic improvements as well as reducing inequalities experienced by many. This paper's overall purpose is to separate the ends pursued in 20MNs from means available for achieving them.
Findings
The paper concludes that the ambition to see the 20MNs widely woven into existing urban, suburban and rural neighbourhoods will require significant effort to ensure all that all the component parts of, and key players in, planning's place-delivery systems are aligned and mutually supportive. Even where this can be achieved, further guidance will be needed on (1) how to operationalise the practical implementation of 20MNs and (2) how their success can be measured.
Originality/value
The originality of the paper lies in its efforts to discriminate between ends and means – between desired outcomes of 20MNs and the means available for achieving them. The significance of the paper lies here in this attempt to initiate a discussion on possible causal relationships between what is wanted and what would need to be done to achieve it. Without clarity about these relationships, misunderstanding, confusion and barriers to communication may arise across the many different organizations, stakeholder groups and actors involved. This lack of clarity could undermine trust and confidence, potentially undermining both the process and to its outcomes.