Sequencing risk : the worst returns in their worst order

For the first of the baby boomers turning 65 years of age, after a decade littered with financial shocks (dot.com bubble, sub-prime, global financial crisis, sovereign debt), sequencing risk can represent a significant threat to their retirement nest eggs. This paper takes an outcomeoriented approach to the problem, to provide practical insights into how sequencing risk works and the critical dependency of retirement outcomes on sequencing risk. Our analysis challenges the conventional wisdom that it is the accumulated average of investment returns that matter. We show, instead, that it is the realised sequence of returns which largely determines the sustainability of retirement incomes.

Law, ethics and pandemic preparedness : the importance of cross-jurisdictional and cross-cultural perspectives

OBJECTIVE To explore social equity, health planning, regulatory and ethical dilemmas in responding to a pandemic influenza (H5N1) outbreak, and the adequacy of protocols and standards such as the International Health Regulations (2005). APPROACH This paper analyses the role of legal and ethical considerations for pandemic preparedness, including an exploration of the relevance of cross-jurisdictional and cross-cultural perspectives in assessing the validity of goals for harmonisation of laws and policies both within and between nations. Australian and international experience is reviewed in various areas, including distribution of vaccines during a pandemic, the distribution of authority between national and local levels of government, and global and regional equity issues for poorer countries. CONCLUSION This paper finds that questions such as those of distributional justice (resource allocation) and regulatory frameworks raise important issues about the cultural and ethical acceptability of planning measures. Serious doubt is cast on a 'one size fits all' approach to international planning for managing a pandemic. It is concluded that a more nuanced approach than that contained in international guidelines may be required if an effective response is to be constructed internationally. IMPLICATIONS The paper commends the wisdom of reliance on 'soft law', international guidance that leaves plenty of room for each nation to construct its response in conformity with its own cultural and value requirements.

Law, ethics and pandemic preparedness : the importance of cross-jurisdictional and cross-cultural perspectives

Objective To explore social equity, health planning, regulatory and ethical dilemmas in responding to a pandemic influenza (H5N1) outbreak, and the adequacy of protocols and standards such as the International Health Regulations (2005). Approach This paper analyses the role of legal and ethical considerations for pandemic preparedness, including an exploration of the relevance of cross-jurisdictional and cross-cultural perspectives in assessing the validity of goals for harmonisation of laws and policies both within and between nations. Australian and international experience is reviewed in various areas, including distribution of vaccines during a pandemic, the distribution of authority between national and local levels of government, and global and regional equity issues for poorer countries. Conclusion This paper finds that questions such as those of distributional justice (resource allocation) and regulatory frameworks raise important issues about the cultural and ethical acceptability of planning measures. Serious doubt is cast on a ‘one size fits all’ approach to international planning for managing a pandemic. It is concluded that a more nuanced approach than that contained in international guidelines may be required if an effective response is to be constructed internationally. Implications The paper commends the wisdom of reliance on ‘soft law’, international guidance that leaves plenty of room for each nation to construct its response in conformity with its own cultural and value requirements.

Never too old : engaging retired people inventing the future with MaKey MaKey

Within HCI, aging is often viewed in terms of designing assistive technologies to improve the lives of older people, such as those who are suffering from frailty or memory loss. Our research adopts a very different approach, reframing the relationship in terms of wisdom, creativity and invention. We ran a series of workshops where groups of retirees, aged between early 60s and late 80s, used the MaKey MaKey inventor's toolkit. We asked them to think about inventing the future and suggest ideas for new technologies. Our findings showed that they not only rose to the challenge but also mastered the technology, collaborated intensely together while using it and freely and at length discussed their own, their family's and others' relationship with technology. We discuss the value of empowering people in this way and consider what else could be invented to enable more people to be involved in the design and use of creative technologies.

A preliminary decision model for shared services : insights from an Australian university context

Shared Services involves the convergence and streamlining of an organisation’s functions to ensure timely service delivery as effectively and efficiently as possible. This would result in lower cost, improved service delivery and economies of scale. The conventional wisdom of today is that the potential for Shared Services is increasing due to the increasing costs of changing systems and business requirements and also in implementing and running information systems (IS). However many organizations opt instead for an outsourcing arrangement as the alternative towards cost savings, due in essence to a lack of realization of this potential for Shared Services. This paper rationales turning from outsourcing (to looking within organisations) to leverage on Shared Services for similar cost savings and reaping other potential benefits. The paper’s objectives and contributions are three-fold: (1) distinguish between Shared Services and Outsourcing, (2) report on insights from a single Australian university case study through a transaction cost lens, and to demonstrate the potential for Shared Services and (3) develop a decision model to gauge the potential of implementing Shared Services across similar organisations.

Lessons from a Church Mural

A travel article about the Moselle Valley, Germany. There’s a school of thought that says you shouldn’t look back in life. This is not the received wisdom in Cochem, a village on the Moselle river known, like many others in the area, for its white wine and fairytale castle. Here, they say, it’s bad luck if you don’t turn around for one last look at a mural of St Christopher that graces the castle’s main tower...

eARTh : the dynamics of ontological representation

This Australian Indigenous creactive work and its Treatise promote ways of thinking about practice and research that extend well beyond the current discourse. It invites re-thinking on how research can be practice-led in new ways, and what that might mean for future students. When discussing the challenges of today, this work signifies how "Western Style" thinking and theory is wanting in so many ways. It engages a new dynamic and innovative way of theorising, encouraging future students to apply their full capacity of energy and wisdom. (Extract from examiners' reports.)

A child's dreaming: Looking at illustrated Indigenous stories for children

The traditional teaching stories of Australia's ancient Aboriginal and Torres Strait Islander cultures can find a new telling in today's literature for children. Codifiers of wisdom, laden with metaphor, these narratives have already inspired wonder in the young for thousands of generations. Today such stories are represented by well over one hundred titles in children's illustrated books. Some demonstrate literary and ethical qualities showing sensitivity and respect for originating cultures. Others do not

The implicit structure of positive characteristics

The implicit structure of positive character traits was examined in two studies of 190 and 100 undergraduates. Participants judged the pairwise covariation or semantic similarity of 42 positive characteristics using a sorting or a rating task. Characteristics were drawn from a new classification of strengths and virtues, the Five-Factor Model, and a taxonomy of values. Participants showed consistent patterns of perceived association among the characteristics across the study conditions. Multidimensional scaling yielded three consistent dimensions underlying these judgments (“warmth vs. self-control,” “vivacity vs. decency,” and “wisdom vs. power”). Cluster analyses yielded six consistent groupings—“self-control,” “love,” “wisdom,” “drive,” “vivacity,” and “collaboration”—that corresponded only moderately to the virtue classification. All three taxonomies were systematically related to this implicit structure, but none captured it satisfactorily on its own. Revisions to positive psychology’s classification of strengths are proposed.

Reading Australia Essay: "Romulus, My Father" by Raimond Gaita

This is an introductory essay about the memoir "Romulus, My Father" by Raimond Gaita. The essay was published as part of the Copyright Agency's "Reading Australia" initiative. "In a critical moment of reflection and pause, Romulus, My Father offers the reader a key to its interpretation. The author – philosopher Raimond Gaita – tells us that ‘Plato said that those who love and seek wisdom are clinging in recollection to things they once saw’. This reference to the Greek philosopher’s work Phaedrus occurs when the boy Raimond is about eight years old. He seems already to understand much about his father, in particular his father’s goodness, which he finds expressed in his workmanship, his honesty, and his commitment to friends. And yet, as Plato forewarns us, a search for the ultimate wisdom of such things must come later – several decades on, when Gaita is faced with the task of writing his father’s eulogy. It is then that a sense of his father’s character is joined to his own search for wisdom, a combination of biography and reflection that marks the memoir form at its best, and shapes the ultimate impact of Romulus, My Father...."--publisher website

More than just audiences : Developing communitas and social inclusion through theatre participation for young people

In a Facebook conversation about theatre going by young people in Brisbane playwright Valerie Foley noted, “theatre in and of itself may not have the cultural value it once had”. This chapter explores how three Australian live theatre/performance events – World Theatre Festival (Brisbane 2011 and 2012), Backbone’s annual 2High Festival (Brisbane 2012) and Next Wave Festival (Melbourne 2012) - repositioned the value of live performing arts to develop social cohesion and wellbeing for young people. The chapter draws out how these performance events developed communitas (Turner 2012) for young audiences.

Environmental technologies, intellectual property and climate change (2013) edited by Abbe Brown

Abbe Brown from the University of Aberdeen, Scotland, is one of the leading international researchers on intellectual property and climate change. She is an intellectual dynamo. Her work brings together a mastery of intellectual property, with a strong interest in innovation theory and practice, and an engagement with public policy issues surrounding human rights, competition policy, and access to knowledge. Abbe Brown has shown a particular aptitude for tackling big ideas and wicked global problems, with intelligence, gusto, insight, and formidable wisdom.

Fundraising and boards: be a leader and a meddler!

The old board maxim says, ‘Be a leader not a meddler’! However, in the case of board members and fundraising, meddling is wise. Why? Because the board has a responsibility and a unique opportunity to guide and support its organisation’s fundraising. Indeed, in successful nonprofit organisations (NPOs) fundraising is an attitude, not a department.

Consent for third molar tooth extractions in Australia and New Zealand: A review of current practice

Background Informed consent is the legal requirement to educate a patient about a proposed medical treatment or procedure so that he or she can make informed decisions. The purpose of the study was to examine the current practice for obtaining informed consent for third molar tooth extractions (wisdom teeth) by Oral and Maxillofacial Surgeons in Australia and New Zealand. Methods An online survey was sent to 180 consultant Oral and Maxillofacial Surgeons in Australia and New Zealand. Surgeons were asked to answer (yes/no) whether they routinely warned of a specific risk of third molar tooth extraction in their written consent. Results 71 replies were received (39%). The only risks that surgeons agreed should be routinely included in written consent were a general warning of infection (not alveolar osteitis), inferior alveolar nerve damage (temporary and permanent) and lingual nerve damage (temporary and permanent). Conclusions There is significant variability among Australian and New Zealand Oral and Maxillofacial Surgeons regarding risk disclosure for third molar tooth extractions. We aim to improve consistency in consent for third molar extractions by developing an evidence-based consent form.

Some empirical evidence on offender time discount rates

The conventional wisdom is that offenders have very high discount rates not only with respect to income and fines but also with respect to time incarcerated. These rates are difficult to measure objectively and the usual approach is to ask subjects hypothetical questions and infer time preference from their answers. In this article, we propose estimating rates at which offenders discount time incarcerated by specifying their equilibrium plea, defined as the discount rate, which equates the time and expected time spent in jail following a guilty plea and a trial. Offenders are assumed to exhibit positive time preference and discount time spent in jail at a constant rate. Our choice of sample is interesting because the offenders are not on bail, punishment is not delayed and the offences are planned therefore conforming to Becker’s model of the decision to commit a crime. Contrary to the discussion in the literature, we do not find evidence of consistently high time discount rates, and therefore cannot unequivocally infer that the prison experience always results in low levels of specific deterrence.