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This study reveals how a Korean monetary transmission mechanism evolves in the tumultuous decade of the 1990s. We show that (i) contractionary monetary policy shocks have more explanatory power for the post‐crisis periods than for the pre‐crisis period; (ii) the effects on output from external shocks attributed to the oil price and the U.S. federal fund rates are mixed; (iii) there is little positive spillover effect from the U.S. to Korea through the trade channel; and (iv) there is a positive spillover effect from the international capital market channel.

With reference to the report of the Annual General Meeting of the Pure Food and Health Society of Great Britain, which was published in the February issue of THE BRITISH FOOD JOURNAL, and to the speech delivered by MR. GOSLIN upon the proper handling and purveying of meat, an article which has subsequently appeared in The Standard is of considerable interest. It is pointed out that no one who gives the matter serious consideration can approve of the present methods. “Many years ago Oxford made its protest against carcasses or joints being exposed in open‐fronted shops. It is just possible that when the powers that were objected to and forbade this proceeding they thought more of the æsthetics than the science of it, but they most certainly did a good thing when they took flesh foods away from the contamination of street dust and the variations of temperature that are dependent on every gust of wind or every moment of sunlight or shadow.”

It is seven years ago since I first took up the estimation of dirt in milk samples; there had been numerous complaints about dirty milk sold in Chester, and the Public Health Committee asked me if it would not be possible to estimate the dirt, so that proceedings could be taken against the milk sellers.

With profound regret we have to record the death of Colonel Charles Edward Cassal, F.I.C., who passed away on Dec. 22nd at his residence in London. The sad news has only reached us at the moment—when we are going to press. We hope to publish in the January issue an appreciation of his life, his remarkable abilities, his high minded and lofty nature, and the beneficent work which he achieved in the interests of the profession which he so conspicuously adorned. Colonel Cassal was the founder of “The British Food Journal,” and, in addition to his multifarious official duties, he occupied for fifteen years the position of Editor of the Journal.

This paper aims to raise awareness of a potential planning pitfall and provide recommendations on how to assess and improve upon current practices. In potential conflict areas, such as the Korean Theater of Operations (KTO), military forces are required to store a portion of their ammunition combat load within depots and ammunition supply points under the control of a servicing ammunition company. This necessitates a lengthy retrieval process, as the ammunition company does not have enough resources to serve all customers simultaneously.

The stored combat load (SCL) retrieval process is modeled as a parallel machine scheduling problem and simulated using synthetic requirements. The current system of retrieval is contrasted against a proposed alternate system through a series of simulations scaled across three factors: number of ammunition company Soldiers, number of customer units and number of magazines.

The proposed alternate system demonstrates a significant potential for reducing the makespan of the SCL retrieval process when more than half of the magazines store SCL for multiple customers and there are more than five customers per Soldier.

Transitioning military units from a peacetime standing to full combat readiness as quickly as possible is of immense value within the KTO and other hostile areas with established troops not actively engaged in combat.

This paper aims to investigate whether environmental, social and governance (ESG) practices influence stock returns in the US stock market, looking at the period from 2002 to 2020.

The authors quasi-replicate two reference articles that found that socially responsible funds used to underperform, but that this underperformance tendency has disappeared in more recent periods.

Using US data, the authors show that independent of the ESG database used, portfolios of neutral stocks present consistently higher systematic risk (beta) than ESG portfolios, although this difference decreases over time. This may be due to the significant increase in demand for ESG portfolios in the past decade, and their consequent price inflation and increase in volatility. However, concerning risk-adjusted returns and contrary to the authors’ reference literature, the results are highly dependent on the rating provider used, and neither support underperformance nor indicate a tendency over time. These inconsistent results suggest that the “ESG label” is not a determinant of portfolio performance.

If ESG ratings are a legitim benchmark for sustainability, then the costs of going sustainable in stock portfolios might be marginal for fund managers.

Two different ESG-rating agencies, Morgan Stanley Capital International (MSCI) and Thomson Reuters, are used to identify sustainable stocks. Different from the literature, the authors selected stocks for their portfolios stochastically following a uniform probability distribution, thus avoiding fund manager bias.

The first statutory meeting of the Pure Food and Health Society of Great Britain was held on October 16 at the registered offices of the Society, 20, Hanover Square, W. LORD CAMOYS, Chairman of the Executive Committee, presided. In opening the meeting LORD CAMOYS said:—

The Need for Power. Corporate planners are charged with defining where the organization should be going and identifying how it might get there. To meet this challenge, the planner must be familiar with the diverse kinds of problems and opportunities confronting his organization, as well as with the resources available to solve the problems or respond to the opportunities. Unfortunately, being familiar with the problems, opportunities, and resources is not enough. If corporate planners are to go beyond recommending direction and approach, they must understand the nature of power and how to use it effectively. The objective of this article is to discuss the various types of power available to planners and how this power can be used to improve the effectiveness of planning skills.

A collection of essays by a social economist seeking to balance economics as a science of means with the values deemed necessary to man′s finding the good life and society enduring as a civilized instrumentality. Looks for authority to great men of the past and to today′s moral philosopher: man is an ethical animal. The 13 essays are: 1. Evolutionary Economics: The End of It All? which challenges the view that Darwinism destroyed belief in a universe of purpose and design; 2. Schmoller′s Political Economy: Its Psychic, Moral and Legal Foundations, which centres on the belief that time‐honoured ethical values prevail in an economy formed by ties of common sentiment, ideas, customs and laws; 3. Adam Smith by Gustav von Schmoller – Schmoller rejects Smith′s natural law and sees him as simply spreading the message of Calvinism; 4. Pierre‐Joseph Proudhon, Socialist – Karl Marx, Communist: A Comparison; 5. Marxism and the Instauration of Man, which raises the question for Marx: is the flowering of the new man in Communist society the ultimate end to the dialectical movement of history?; 6. Ethical Progress and Economic Growth in Western Civilization; 7. Ethical Principles in American Society: An Appraisal; 8. The Ugent Need for a Consensus on Moral Values, which focuses on the real dangers inherent in there being no consensus on moral values; 9. Human Resources and the Good Society – man is not to be treated as an economic resource; man′s moral and material wellbeing is the goal; 10. The Social Economist on the Modern Dilemma: Ethical Dwarfs and Nuclear Giants, which argues that it is imperative to distinguish good from evil and to act accordingly: existentialism, situation ethics and evolutionary ethics savour of nihilism; 11. Ethical Principles: The Economist′s Quandary, which is the difficulty of balancing the claims of disinterested science and of the urge to better the human condition; 12. The Role of Government in the Advancement of Cultural Values, which discusses censorship and the funding of art against the background of the US Helms Amendment; 13. Man at the Crossroads draws earlier themes together; the author makes the case for rejecting determinism and the “operant conditioning” of the Skinner school in favour of the moral progress of autonomous man through adherence to traditional ethical values.