The Environment and the Selection of Aquaculture Species and Systems: An Economic Analysis

Environmental conditions play a significant role in the economic success of aquaculture. This article classifies environmental factors in a way that facilitates economic analysis of their implications for the selection of aquaculture species and systems. The implication of on-farm as on-site environmental conditions for this selection are considered first using profit-possibility frontiers and taking into account the biological law of environmental tolerance. However, in selecting, recommending and developing aquaculture species and systems, it is often unrealistic to assume the degree of managerial efficiency implied by the profit-possibility function. It is appropriate to take account of the degree of managerial inefficiency that actually exists, not all of which may be capable of being eliminated. Furthermore, experimental R&D should be geared to on-farm conditions, and the variability of these conditions needs to be taken into account. Particularly in shared water bodies, environmental spillovers between aquaculturalists can be important and as shown theoretically, can influence the socially optimal selection of aquaculture species and systems. Similarly, aquaculture can have environmental consequences for the rest of the community. The social economic implications of this for the selection of aquaculture species and systems are analyzed. Some paradoxical results are obtained. For example, if the quality of social governance of aquaculture is poor, aquaculture species and systems that cause a slow rate of environmental deterioration may be socially less satisfactory than those that cause a rapid rate of such deterioration. Socially optimal choice of aquaculture species and systems depends not only on their biophysical characteristics and market conditions but also on the prevailing state of governance of aquaculture. Failure to consider the last aspect can result in the introduction of new aquaculture species (and systems) doing more social harm than good.

Holt, Johnson and the 1966 Federal Election. A Question of Causality

US President Lyndon Johnson's state visit to Australia in October 1966, came at the pinnacle of support for Australia's military involvement in the Vietnam War. Johnson's visit also occurred just weeks before an election for the House of Representatives at which the ruling Liberal-Country Party Coalition won its eighth successive, and largest victory, The proximity of these events has led many to argue that a causal relationship exists between the two. Advocates of this thesis, however, have failed to support their position with any evidence other than the anecdotal. Contrary to the assertions made by numerous political historians and observers of the period, this paper finds no evidence to support a thesis of causality. This paper argues that the Coalition's landslide victory in 1966 was both a rejection of the tired and lacklustre leadership of Labor's Arthur Calwell and a measure of the electorate's overwhelming support for Holt and his Government's policies of conscription and military involvement in Vietnam.

The Napster decision : implications for copyright law in the digital age

Challenges posed to copyright law in the digital age is most evident in A and M Records Inc v Napster Inc - the various court rulings indicate that Napster is likely to be held responsible for massive copyright infringement should the case come to a full trial - implications for Australian copyright law, the recording industry and individual artists - globalisation may hinder the ability of the recording industry to prevent mass copyright infringement.