Economics of non-market innovation and digital literacy

This article is an abbreviated version of a debate between two economists holding somewhat different perspectives on the nature of non-market production in the space of new digital media. While the ostensible focus here is on the role of markets in the innovation of new technologies to create new economic value, this context also serves to highlight the private and public value of digital literacy.

Economics of tourism & growth for small island countries

We theoretically analyze the impact of changes in foreign income from tourism source countries on the growth of tourism dependent small island economies. Using a general theoretical construct, we attempt to answer the question of how price elasticity of demand, income elasticity of tourist and the degree of competition in the service sector influence the economic development of small economies. One of the main results is that politicians may consider applying policies which lead to a competitive environment in the service sector to maximize growth and the consequent labor income share.

A Preliminary Assessment of Aqueous Ethanol Pulping of Bagasse: the Ecopulp Process

SRI has examined the organosolv (organic solvation) pulping of Australian bagasse using technology supplied by Ecopulp. In the process, bagasse is reacted with aqueous ethanol in a digester at elevated temperatures (between 150ºC and 200ºC). The products from the digester are separated using proprietary technology before further processing into a range of saleable products. Test trials were undertaken using two batch digesters; the first capable of pulping about 25 g of wet depithed bagasse and the second, larger samples of about 1.5 kg of wet depithed bagasse. From this study, the unbleached pulp produced from fresh bagasse did not have very good strength properties for the production of corrugated medium for cartons and bleached pulp. In particular, the lignin contents as indicated by the Kappa number for the unbleached pulps are high for making bleached pulp. However, in spite of the high lignin content, it is possible to bleach the pulp to acceptable levels of brightness up to 86.6% ISO. The economics were assessed for three tier pricing (namely low, medium and high price). The economic return for a plant that produces 100 air dry t/d of brownstock pulp is satisfactory for both high and medium pricing levels of pricing. The outcomes from the project justify that work should continue through to either pilot plant or upgraded laboratory facility.

The guide to the project management body of knowledge (PMBOK Guide) : applicability and contribution to project success in Australia

The PMBOK Guide is one of the most influential publications concerning the knowledge of the project manangement. Moreover, the pervasion of this guide seems to be set to increase as the basis of accreditation - in conjunction with the increasing global trend toward obtaining project management professional status. However, despite the influence and strengthening profile of this guide, reports continue to be published that detail numerous project failures in a wide range of different industries. The PMBOK Guide comprises mainly declarative (know-what) and procedural (know-how) information. In this sense, the guide is largely normative and provides a very good example of the limitations of this approach as highlighted by proponents of a move to the genuine application of positibe theory in project management.----- The aim of this paper is to determine the applicability of the guide in Australia and to determine the extent to which project success can be attributed to the guide. Project Managers from a variety of organisations were surveyed. This postal survey yielded 48 replies. Descriptive statistics was used to assess the incidence and effectivieness of all the processes in the guide. The results indicate that there were no processes that could be considered as peripheral or as a candidate for elimination from the guide. More specifically, all the processes were identified as either a key routine process or a key selective process and positively related to the level of project success. However, the results also indicated that other major factors pertaining to causal knowledge (know-why) are, at least, equally important determinants of project success. It is concluded that declarative, procedural and causal knowledge are all valuable, and given the preponderance of the first two types of knowledge, there seems to be an urgent need to now ensure an equal quest for causal knowledge. In terms of developing causal knowledge, a good starting point would appear to be both positive theory from production and economics.