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These are the days of falling standards and sagging morale, nowhere more apparent than in the one‐time efficient public service. The division between management and workers in the field in the large public enterprises has grown wider and wider and we tend to blame the lower strata of the structure for most of the ills which beset us, mainly because its failures are more obvious; here, the falling standards of work and care speak for themselves. The massive reorganization of the National Health Service and local authorities has made evident, especially in the first, that the upper strata of the colossi which dominate our everyday lives have their ills too. Local authorities have been told “The party is over!” and the National Health Service has been told of the urgent need for the strictest economy in administration; that the taking over of personal health services from local authorities was wrongly attributed to “managerial growth” instead of a mere “transfer of functions”, but, nonetheless, new authorities were created, each with fast‐growing administrative organs operating services—doctors, nurses and patients—which had remained unchanged. Very large local authorities, with many functions lost to others, one would have expected to have resulted in economy of administration, has all‐too‐often been the opposite. Hardly surprising that those who pay for it all, distinct from those who receive of its largesse, are being stirred to rebellion, when they have been overtaxed, ill‐used and what is more important, ignored for so long.

Allyn Young′s lectures, as recorded by the young Nicholas Kaldor, survey the historical roots of the subject from Aristotle through to the modern neo‐classical writers. The focus throughout is on the conditions making for economic progress, with stress on the institutional developments that extend and are extended by the size of the market. Organisational changes that promote the division of labour and specialisation within and between firms and industries, and which promote competition and mobility, are seen as the vital factors in growth. In the absence of new markets, inventions as such play only a minor role. The economic system is an inter‐related whole, or a living “organon”. It is from this perspective that micro‐economic relations are analysed, and this helps expose certain fallacies of composition associated with the marginal productivity theory of production and distribution. Factors are paid not because they are productive but because they are scarce. Likewise he shows why Marshallian supply and demand schedules, based on the “one thing at a time” approach, cannot adequately describe the dynamic growth properties of the system. Supply and demand cannot be simply integrated to arrive at a picture of the whole economy. These notes are complemented by eleven articles in the Encyclopaedia Britannica which were published shortly after Young′s sudden death in 1929.

The review of food consumption elsewhere in this issue shows the broad pattern of food supplies in this country; what and how much we eat. Dietary habits are different to what they were before the last War, but there have been few real changes since the end of that War. Because of supplies and prices, shifts within commodity groups have occurred, e.g. carcase meat, bread, milk, but overall, the range of foods commonly eaten has remained stable. The rise of “convenience foods” in the twenty‐five year since the War is seen as a change in household needs and the increasing employment of women in industry and commerce, rather than a change in foods eaten or in consumer preference. Supplies available for consumption have remained fairly steady throughout the period, but if the main food sources, energy and nutrient content of the diet have not changed, changes in detail have begun to appear and the broad pattern of food is not quite so markedly stable as of yore.

Develops an original 12‐step management of technology protocol and applies it to 51 applications which range from Du Pont’s failure in Nylon to the Single Online Trade Exchange for Auto Parts procurement by GM, Ford, Daimler‐Chrysler and Renault‐Nissan. Provides many case studies with regards to the adoption of technology and describes seven chief technology officer characteristics. Discusses common errors when companies invest in technology and considers the probabilities of success. Provides 175 questions and answers to reinforce the concepts introduced. States that this substantial journal is aimed primarily at the present and potential chief technology officer to assist their survival and success in national and international markets.

It tends to be called the corner shop, mainly because it occupied a corner building for extra window space, but also due to the impetus given to the name by television series seeking to portray life as it used to be. The village grew from the land, a permanent stopping place for the wandering tribes of early Britain, the Saxons, Welsh, Angles; it furnished the needs of those forming it and eventually a village store or shop was one of those needs. Where the needs have remained unchanged, the village is much as it has always been, a historical portrait. The town grew out of the village, sometimes a conglomerate of several adjacent villages. In the days before cheap transport, the corner shop, in euphoric business terms, would be described as “a little gold mine”, able to hold its own against the first introduction of multiple chain stores, but after 1914 everything changed. Edwardian England was blasted out of existence by the holocaust of 1914–18, destroyed beyond all hope of recovery. The patterns of retail trading changed and have been continuously changing ever since. A highly developed system of cheap bus transport took village housewives and also those in the outlying parts of town into busy central shopping streets. The jaunt of the week for the village wife who saw little during the working days; the corner shop remained mainly for things they had “run out of”. Every village had its “uppety” madames however who affected disdain of the corner shop and its proprietors, preferring to swish their skirts in more fashionable emporia, basking in the obsequious reception by the proprietor and his equally servile staff.

Compared to other neighbouring South Asian countries, Sri Lanka performs well in terms of education outcomes. Education is provided by the government for free from primary school level to the first-degree University level, yet households’ private education expenses are steadily increasing over time. Thus, this paper analyses trends and determinants of household private education expenditures using the country-wide micro-data from 1990 to 2013.

Using Household Income and Expenditure Survey (HIES) 1990/91, 2002 and 2012/13 data along with annual school census data, this paper examines the relationship between private education expenditure patterns and the observed changes of reported both demand-side and supply-side factors. In particular, the present paper analyses determinants of household private education expenditures within the two-part model econometric framework by taking into account location and time fixed-effects.

The results show that trend of spending privately for education is increasing over time with rising household income. Rural, Tamil and Islamic households and those headed by less-educated members are less likely to spend privately for education. The results also confirm that improved-supply-side factors can significantly lower the household burden arising from out-of-pocket education expenditure.

Unavailability of panel data and missing data on several districts due to security concerns are limitations of the study.

The trend of increasing private education expenses has implications on equity concerns of education in Sri Lanka, and it can undermine the purpose of free public education policy.

To our knowledge, this is the first study for Sri Lanka that examines patterns and determinants of private education expenditures using nationwide data for last two decades. This paper applies novel econometric techniques to account for various issues in household survey data analysis.

The peer review history for this article is available at: https://publons.com/publon/10.1108/IJSE-07-2019-0445

The last two years have witnessed what may justly be described as a revolutionary change in the packaging and marketing of goods, of which pre‐packed food constitutes a substantial part, but as far as public reaction goes, it has largely been a silent witness. There has been none of the outcry such as accompanied metrication, sufficient to call a halt to the process, and especially to the introduction of the decimal currency, of which most shoppers are convinced they were misled, “conned”. Every effort to make the changeover as smooth as possible was made; included was the setting up within the Department of Trade of a National Metrological Co‐ordinating Unit charged with co‐ordinating the work of 91 local weights and measures authorities in Great Britain in enforcing the new law, the Weights and Measures Act, 1979. This Act replaced the net or minimum system of the old law, the traditional system, re‐enacted in the Weights and Measures Act, 1963 with the average system, implementing EEC Directives and bringing weights and measures into line with Member‐states of the European Community.

The purpose of this essay is to argue that, for Veblen, the contribution of advertising to mature business enterprise was crucial. Although Thorstein Veblen’s Theory of the Leisure Class is widely credited with introducing the concept of “conspicuous consumption”, that book is silent on the contribution of the sales effort – or advertising – to such consumption. One must turn to Veblen’s later writings on the business system to find an analysis of advertising within oligopoly capitalism, what Veblen called the system of “absentee ownership”. At the beginning of the twentieth century business faced looming threats of technological progress and democratic discontent. The material prospect of accelerating productivity might soon “end the struggle or lessen the strain” of economic life; democracy might insist that the industrial system serve social needs in efficient ways. To ward off such challenges, business developed a two-prong approach to perpetuate scarcity: carefully managed control of output and an increasingly insistent, rationalized and expensive sales effort. The growth of advertising reflected a systematic expenditure of energy, talent and resources on a misdirection of human effort, one whose chief effect was to prolong “the strain” of everyday life in futile pursuit of waste. Whether such irrationality could be sustained indefinitely, or whether it might finally undermine the society that propels its pursuit, is an issue that Veblen raises, but to which he refuses to give any final answer.

The paper analyzes the full range of Veblen’s theoretical writings on consumption, technology and the sales effort.

The paper insists that Veblen is the first radical political economist to provide a systematic critical analysis of advertising as an essential element of mature capitalism.

The paper connects Veblen’s earliest thinking on “conspicuous consumption” to his mature analysis of advertising in the functioning of business enterprise. It will enrich understanding among academics and students, scholars of marketing and economic and social theorists, of Veblen’s critical analysis of the evolution of consumption, production and business enterprise.

C.A.R. Crosland (1918‐1977) was a British politician and a Cabinet Minister. He was also a former lecturer in economics at Oxford. His interests in Labour politics and in the mixed economy led him to write The Future of Socialism. Published in 1956, it is a contemporary classic of political economy and social economics. Abridged when it was reprinted in 1964, however, the edition of the Future which readers today will know is significantly different from the original edition that exercised so much influence in the 1950s. Attempts to provide a variorum that identifies the differences between the editions. Finds that 172 pages were subject to alteration and deletion. Suggests the ways in which the changes might have altered the message that the author intended to convey.

This paper aims to investigate the effects of contractionary fiscal policy shocks on major Greek macroeconomic variables within a structural vector autoregression framework while accounting for debt dynamics.

The sign restriction approach is applied to identify a linear combination of government spending and government revenue shock simultaneously while accounting for debt dynamics. Additionally, output and unemployment responses to fiscal shocks under different scenarios concerning the amalgamation of austerity measures are considered.

The results indicate that a contractionary consumption policy shock, namely, a 1 per cent decrease in government consumption and a 1 per cent increase in indirect taxes, is preferred, as it produces a minor decrease in output and substantially decreases public debt, while a contractionary wage policy shock is suitable only when the government aims to sharply reduce public debt, as the consequences for the economy are harsh. A contractionary investment policy shock is not recommended, as it triggers a rise in unemployment and a fall in output, while the effect on the public debt is minor.

Policymakers should focus their efforts on reducing unproductive government consumption on the expenditure side. Concerning revenues, the reinforcement of tax administration is recommended to ensure that indirect taxes will be collected.

This paper contributes to the existing literature by providing a disaggregated analysis of the effects of fiscal policy actions in Greece by implementing several fiscal policy scenarios and accounting for the level of public debt. All scenarios are in the vein of the economic adjustment programs guidelines.