An Economic Analysis of the Legal Concept of Trustees' Power of Investment

Authorised trustee status is a legal concept which has economic implications; one of the major implications is that it assists in the direction of investment funds into particular securities and areas of the economy. The concept of authorised trustee status, while attempting to achieve specific outcomes for the beneficiaries of trusts cannot be relied upon to secure these results. Economic analysis of the role of the trustee maintains that this role is one of portfolio manager; a role which is complex but which is explicable in terms of definable procedures and practices. The role of trustee as portfolio manager is one which requires greater financial knowledge than can be assumed is possessed by all trustees. The trustee as portfolio manager is required to maintain a review of decisions make under powers to invest trust assets. A solution to the problem of authorised trustee status is proposed. The solution takes two parts: the first is the adoption of the prudent person approach but with the codification of duties of the trustee and the explicit listing of the factors that a trustee should consider in using the investment powers. The second part of the proposed solution is to link the investment powers of trustees to the best practice features of securities advisers who are now licensed by a regulatory body, the Australian Securities and Investment Commission.

Bioeconomic analysis of aquaculture's impact on wild stocks and biodiversity

Anderson theorizes that development of the aquaculture of a species of fish (also captured in an open-access fishery) favours the conservation of its wild stocks, if competitive market conditions prevail. However, this theory is shown to be subject to significant limitations. While this is less so within his model, it is particularly so in an extended one outlined here. The extended model allows for the possibility that aquaculture development can impact negatively on wild stocks thereby shifting the supply curve of the capture fishery, or raise the demand for the fish species subject both to aquaculture and capture. Such development can threaten wild stocks and their biodiversity. While aquaculture development could in principle have no impact on the biodiversity of wild stocks or even raise aquatic biodiversity overall, its impact in the long-term probably will be one of reducing aquatic diversity both in the wild and overall.

Socioeconomic causes of loss of animal genetic diversity: Analysis and assessment

The number of breeds of domesticated animals, especially livestock, have declined rapidly. The proximate causes and processes involved in loss of breeds are outlined. The path-dependent effect and Swanson's dominance-effect are discussed in relation to breed selection. While these help to explain genetic erosion, they need to be supplemented to provide a further explanation of biodiversity loss. It is shown that the extension of markets and economic globalisation have contributed significantly to genetic loss of breeds. In addition, the decoupling of animal husbandry from surrounding natural environmental conditions is further eroding the stock of genetic resources, particularly industrialised intensive animal husbandry. Recent trends in animal husbandry raise very serious sustainability issues, apart from animal welfare concerns.

A report on socioeconomic attributes and gender inequality in Kondh-dominated villages: A comparative analysis of tribals and non-tribals in the Phulbani district, Orissa, India

Reports on results of a survey, completed in 2000, of wives in three villages in the Phulbani district, Orissa, India. These villages are dominated by the Kondh scheduled tribe but some also contain members of the scheduled caste, called Dombs in Orissa. The article reports on the total responses and comparative responses of these groups to a structured questionnaire. The article provides background information for the villages surveyed, and reports information in relation to wives and their families about property rights, assets and incomes, economic conditions and survival strategies, aspects of credit, production and marketing, social dynamics and eduction. In addition, children’s affairs, including the treatment and entitlements of female and male children, are considered as well as additional aspects of the socioeconomic status of wives.