Search results

Communications regarding this column should be addressed to Mrs. Cheney, Peabody Library School, Nashville, Term. 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.

Aim of the present monograph is the economic analysis of the role of MNEs regarding globalisation and digital economy and in parallel there is a reference and examination of some legal aspects concerning MNEs, cyberspace and e‐commerce as the means of expression of the digital economy. The whole effort of the author is focused on the examination of various aspects of MNEs and their impact upon globalisation and vice versa and how and if we are moving towards a global digital economy.

That ice‐creams prepared with dirty materials and under dirty conditions will themselves be dirty is a proposition which, to the merely ordinary mind, appears to be sufficiently obvious without the institution of a series of elaborate and highly “scientific” experiments to attempt to prove it. But, to the mind of the bacteriological medicine‐man, it is by microbic culture alone that anything that is dirty can be scientifically proved to be so. Not long ago, it having been observed that the itinerant vendor of ice‐creams was in the habit of rinsing his glasses, and, some say, of washing himself—although this is doubtful—in a pail of water attached to his barrow, samples of the liquor contained by such pails were duly obtained, and were solemnly submitted to a well‐known bacteriologist for bacteriological examination. After the interval necessary for the carrying out of the bacterial rites required, the eminent expert's report was published, and it may be admitted that after a cautious study of the same the conclusion seems justifiable that the pail waters were dirty, although it may well be doubted that an allegation to this effect, based on the report, would have stood the test of cross‐examination. It is true that our old and valued friend the Bacillus coli communis was reported as present, but his reputation as an awful example and as a producer of evil has been so much damaged that no one but a dangerous bacteriologist would think of hanging a dog—or even an ice‐cream vendor—on the evidence afforded by his presence. A further illustration of bacteriological trop de zèle is afforded by the recent prosecutions of some vendors of ice‐cream, whose commodities were reported to contain “millions of microbes,” including, of course, the in‐evitable and ubiquitous Bacillus coli very “communis.” To institute a prosecution under the Sale of Food and Drugs Act upon the evidence yielded by a bacteriological examination of ice‐cream is a proceeding which is foredoomed, and rightly foredoomed, to failure. The only conceivable ground upon which such a prosecution could be undertaken is the allegation that the “millions of microbes ” make the ice‐cream injurious to health. Inas‐much as not one of these millions can be proved beyond the possibility of doubt to be injurious, in the present state of knowledge; and as millions of microbes exist in everything everywhere, the breakdown of such a case must be a foregone conclusion. Moreover, a glance at the Act will show that, under existing circumstances at any rate, samples cannot be submitted to public analysts for bacteriological examination—with which, in fact, the Act has nothing to do—even if such examinations yielded results upon which it would be possible to found action. In order to prevent the sale of foul and unwholesome or actual disease‐creating ice‐cream, the proper course is to control the premises where such articles are prepared; while, at the same time, the sale of such materials should also be checked by the methods employed under the Public Health Act in dealing with decomposed and polluted articles of food. In this, no doubt, the aid of the public analyst may sometimes be sought as one of the scientific advisers of the authority taking action, but not officially in his capacity as public analyst under the Adulteration Act. And in those cases in which such advice is sought it may be hoped that it will be based, as indeed it can be based, upon something more practical, tangible and certain than the nebulous results of a bacteriological test.

This paper suggests that motives for engaging in affiliative‐promotive “helping” extra‐role behavior is related to cross‐cultural differences. The cultural dimensions of in‐group collectivism, uncertainty avoidance, performance orientation, and humane orientation, and their differential effect on helping extra‐role behavior in a diverse workforce are examined. Theoretical implications provide guidance for future empirical research in this area, and provide managers with more realistic expectations of employee performance in the workplace.

The Departmental Committee appointed to inquire into the use of preservatives and colouring matters in the preservation and colouring of food, have now issued their report, and the large amount of evidence which is recorded therein will be found to be of the greatest interest to those concerned in striving to obtain a pure and unsophisticated food‐supply. It is of course much to be regretted that the Committee could not see their way to recommend the prohibition of all chemical preservatives in articles of food and drink; but, apart from this want of strength, they have made certain recommendations which, if they become law, will greatly improve the character of certain classes of food. It is satisfactory to note that formaldehyde and its preparations may be absolutely prohibited in foods and drinks; but, on the other hand, it is suggested that salicylic acid may be allowed in certain proportions in food, although in all cases its presence is to be declared. The entire prohibition of preservatives in milk would be a step in the right direction, although it is difficult to see why, in view of this recommendation, boric acid should be allowed to the extent of 0·25 per cent. in cream, more especially as by another recommendation all dietetic preparations intended for the use of invalids or infants are to be entirely free from preservative chemicals; but it will be a severe shock to tho3e traders who are in the habit of using these substances to be informed that they must declare the fact of the admixture by a label attached to the containing vessel. The use of boric acid and borax only is to be permitted in butter and margarine, in proportions not exceeding 0·5 per cent. expressed as boric acid, without notification. It is suggested that the use of salts of copper in the so‐called greening of vegetables should not be allowed, but upon this recommendation the members of the Committee were not unanimous, as in a note attached to the report one member states that he does not agree with the entire exclusion of added copper to food, for the strange reason that certain foods may naturally contain traces of copper. With equal truth it can be said that certain foods may naturally contain traces of arsenic. Is the addition of arsenic therefore to be permitted? The Committee are to be congratulated upon the result of their labours, and when these recommendations become law Great Britain may be regarded as having come a little more into line— although with some apparent reluctance—with those countries who regard the purity of their food‐supplies as a matter of national importance.

This paper aims to give a brief review on behavioral economics and behavioral finance and discusses some of the previous research on agents' utility functions, applicable risk measures, diversification strategies and portfolio optimization.

The authors also cover related disciplines such as trading rules, contagion and various econometric aspects.

While scholars could first develop theoretical models in behavioral economics and behavioral finance, they subsequently may develop corresponding statistical and econometric models, this finally includes simulation studies to examine whether the estimators or statistics have good power and size. This all helps us to better understand financial and economic decision-making from a descriptive standpoint.

The research paper is original.

The Sanitary Committee of a certain County Council, strong with the strength of recent creation, have lately been animated by a desire to distinguish themselves in some way, and, proceeding along the lines of least resistance, they appear to have selected the Public Analyst as the most suitable object for attack. The charge against this unfortunate official was not that he is incompetent, or that he had been in any way negligent of his duties as prescribed by Act of Parliament, but simply and solely that he has the temerity to reside in London, which city is distant by a certain number of miles from the much favoured district controlled by the County Council aforesaid. The committee were favoured in their deliberations by the assistance of no less an authority than the “Principal” of a local “Technical School”;—and who could be more capable than he to express an opinion upon so simple a matter? This eminent exponent of scientific truths, after due and proper consideration, is reported to have delivered himself of the opinion that “scientifically it would be desirable that the analyst should reside in the district, as the delay occasioned by the sending of samples of water to London is liable to produce a misleading effect upon an analysis.” Apparently appalled by the contemplation of such possibilities, and strengthened by another expression of opinion to the effect that there were as “good men” in the district as in London, the committee resolved to recommend the County Council to determine the existing arrangement with the Public Analyst, and to appoint a “local analyst for all purposes.” Thus, the only objection which could be urged to the employment of a Public Analyst resident in London was the ridiculous one that the composition of a sample of water was likely to seriously alter during the period of its transit to London, and this contention becomes still more absurd when it is remembered that the examination of water samples is no part of the official duty of a Public Analyst. The employment of local scientific talent may be very proper when the object to be attained is simply the more or less imperfect instruction of the rising generation in the rudiments of what passes in this country for “technical education”; but the work of the Public Analyst is serious and responsible, and cannot be lightly undertaken by every person who may be acquainted with some of the uses of a test‐tube. The worthy members of this committee may find to their cost, as other committees have found before them, that persons possessing the requisite knowledge and experience are not necessarily indigenous to their district. Supposing that the County Council adopts the recommendation, the aspirations of the committee may even then be strangled in their infancy, as the Local Government Board will want to know all about the matter, and the committee will have to give serious and valid reasons in support of their case.

As yet there are no indications that the President of the Local Government Board intends to give the force of law to the recommendations submitted to him by the Departmental Committee appointed by the Board to inquire into the use of preservatives and colouring matters in food. It is earnestly to be hoped that at least some of the recommendations of the Committee will become law. It is in the highest degree objectionable that when a Committee of the kind has been appointed, and has carried out a long and difficult investigation, the recommendations which it finally makes should be treated with indifference and should not be acted upon. If effect should not be given to the views arrived at after the careful consideration given to the whole subject by the Committee, a very heavy responsibility would rest upon the Authorities, and it cannot but be admitted that the Committee ought never to have been appointed if it was not originally intended that its recommendations should be made legally effective. Every sensible person who takes the trouble to study the evidence and the report must come to the conclusion that the enforcement of the recommendations is urgently required upon health considerations alone, and must see that a long‐suffering public is entitled to receive rather more protection than the existing legal enactments can afford. To refrain from legalising the principal recommendations in the face of such evidence and of such a report would almost amount to criminal negligence and folly. We are well aware that the subject is not one that is easily “understanded of the people,” and that the complicated ignorance of various noisy persons who imagine that they have a right to hold opinions upon it is one of the stumbling blocks in the way of reform; but we believe that this ignorance is confined, in the main, to irresponsible individuals, and that the Government Authorities concerned are not going to provide the public with a painful exhibition of incapacity and inaction in connection with the matter. There is some satisfaction in knowing that although the recommendations have not yet passed into law, they can be used with powerful effect in any prosecutions for the offence of food‐drugging which the more enlightened Local Authorities may be willing to institute, since it can no longer be alleged that the question of preservatives is still “under the consideration” of the Departmental Committee, and since it cannot be contended that the recommendations made leave any room for doubt as to the Committee's conclusions.

The institution of food and cookery exhibitions and the dissemination of practical knowledge with respect to cookery by means of lectures and demonstrations are excellent things in their way. But while it is important that better and more scientific attention should be generally given to the preparation of food for the table, it must be admitted to be at least equally important to insure that the food before it comes into the hands of the expert cook shall be free from adulteration, and as far as possible from impurity,—that it should be, in fact, of the quality expected. Protection up to a certain point and in certain directions is afforded to the consumer by penal enactments, and hitherto the general public have been disposed to believe that those enactments are in their nature and in their application such as to guarantee a fairly general supply of articles of tolerable quality. The adulteration laws, however, while absolutely necessary for the purpose of holding many forms of fraud in check, and particularly for keeping them within certain bounds, cannot afford any guarantees of superior, or even of good, quality. Except in rare instances, even those who control the supply of articles of food to large public and private establishments fail to take steps to assure themselves that the nature and quality of the goods supplied to them are what they are represented to be. The sophisticator and adulterator are always with us. The temptations to undersell and to misrepresent seem to be so strong that firms and individuals from whom far better things might reasonably be expected fall away from the right path with deplorable facility, and seek to save themselves, should they by chance be brought to book, by forms of quibbling and wriggling which are in themselves sufficient to show the moral rottenness which can be brought about by an insatiable lust for gain. There is, unfortunately, cheating to be met with at every turn, and it behoves at least those who control the purchase and the cooking of food on the large scale to do what they can to insure the supply to them of articles which have not been tampered with, and which are in all respects of proper quality, both by insisting on being furnished with sufficiently authoritative guarantees by the vendors, and by themselves causing the application of reasonably frequent scientific checks upon the quality of the goods.

Recounts Rockefeller philanthropy and the role it has played in shaping the development of medicine in the USA and elsewhere. Questions why social scientific research was not included in Rockefeller philanthropy in its formative stages. Investigates the role one Frederick T. Gates played in Rockefeller philanthropy and, particularly, his opposition to the creation of an institute of economic research. Sketches a biography of Gates, covering his professional career and the development of the philosophical views he held. Explores his approach to wholesale giving and scientific philanthropy as he gained more and more influence over Rockefeller’s business interests. Mentions William Lyon Mackenzie King (who later became Prime Minister of Canada) and his role within the Rockefeller philanthropic set‐up – to investigate labour relations – as a key factor in later obtaining support from the Rockefeller Foundation for social scientific research.