Recreational value of Southern Bluefin Tuna fishing

Southern bluefin tuna (Thunnus Maccoyii) is a global resource, which is critically endangered. The Committee for the Conservation of Southern Bluefin Tuna sets commercial quota levels for member nations, including Australia, each year. However, southern bluefin tuna is also a popular “trophy” fish with recreational anglers. The size of the total recreational catch, which is not included in the quota, is unknown but thought to be significant. This paper reports the findings of a study designed to estimate the recreational value of the non-commercial southern bluefin tuna catch at Portland, in southwest Victoria. The results indicate that the size of the recreational catch at Portland is considerable and therefore significant in terms of the management of the fishery. Furthermore, the non-market recreational values associated with the fishery are substantial with the on-site recreational use value (consumer surplus) per person per visit estimated to be between $33 and $132 and the on-site annual recreational use value of the fishery for one season is estimated to be between $449,533 and $1,325,124.

American beauty recycled : the celebrity machine

This work examines the 'machine' of celebrity suggesting that the value assigned to celebrity and the function of celebrity n our society has to do with surplus desire and fluid identity. This work gtakes the video within the movie American Beauty and reframes i as an installation with gold leaf commenting on the ephemeral and trahs-lie, throw-away nature of celebrity and the way in which celebration can be extracted from the lottery of celebrity production.

Illegal immigration, technology adoption and welfare

A debate in the illegal immigration and technology adoption literature suggests that hiring illegal immigrants may be hindering the adoption of new technology, which in turn harms a country’s productivity growth. This paper analyses an individual firm’s behaviour regarding new technology adoption in the presence of illegal immigrants. We assume a Ricardian economy and analyse immigration of illegal unskilled workers in a model of Cournot duopoly where firms are producing homogenous and non-traded goods, and hiring illegal immigrants. A two-stage simultaneous move game is set up: in Stage 1, given the opportunity of hiring illegal immigrants, an individual firm decides whether to adopt the new technology or not, where technology adoption is costly. In Stage 2, each firm will choose the Cournot output level. Solving this two-stage game, we conclude that (i) given the opportunity of hiring illegal immigrants, an individual firm may adopt the new technology and (ii) in the case of zero tolerance of illegal immigration, technology adoption may increase but such technology adoption is immiserizing as it reduces the total surplus.

The hermeneutics of transpacific assemblages

This paper introduces the hermeneutics of globalisation to venture beyond political and economic overdetermination. More specifically, I set out to inspect the interpretive complexity of the hermeneutics of transpacific assemblages, namely the surplus of interpretations in a transforming world, which entangles linguistic, cultural, historical and political dimensions in a complex web of negotiations. This paper sets the theoretical and methodological scene for future research on particular empirical realities. The ultimate goal outlined here is the development of an understanding, explanation and critique of actually existing transpacific assemblages as lived and interpreted phenomena. I conclude by introducing the theme ‘cultural heritage’ and its ongoing construction, deconstruction and reconstruction within and beyond museums to dissect the endless hermeneutic becoming, emerging and making of transpacific forms of life.

Fatty acid metabolism in European sea bass (Dicentrarchus labrax) : effects of n-6 PUFA and MUFA in fish oil replaced diets

Monounsaturated fatty acids (MUFA)-rich and n-6 polyunsaturated fatty acid (n-6 PUFA)-rich vegetable oils are increasingly used as fish oil replacers for aquafeed formulation. The present study investigated the fatty acid metabolism in juvenile European sea bass (Dicentrarchus labrax, 38.4 g) fed diets containing fish oil (FO, as the control treatment) or two different vegetable oils (the MUFA-rich canola/rapeseed oil, CO, and the n-6 PUFA-rich cottonseed oil, CSO) tested individually or as a 50/50 blend (CO/CSO). The whole-body fatty acid balance method was used to deduce the apparent in vivo fatty acid metabolism. No effect on growth performance and feed utilization was recorded. However, it should be noted that the fish meal content of the experimental diets was relatively high, and thus the requirement for n-3 long-chain polyunsaturated fatty acid (n-3 LC-PUFA) may have likely been fulfilled even if dietary fish oil was fully replaced by vegetable oils. Overall, relatively little apparent in vivo fatty acid bioconversion was recorded, whilst the apparent in vivo ?-oxidation of dietary fatty acid was largely affected by the dietary lipid source, with higher rate of ?-oxidation for those fatty acids which were provided in dietary surplus. The deposition of 20:5n-3 and 22:6n-3, as % of the dietary intake, was greatest for the fish fed on the CSO diet. It has been shown that European sea bass seems to be able to efficiently use n-6 PUFA for energy substrate, and this may help in minimizing the ?-oxidation of the health benefiting n-3 LC-PUFA and thus increase their deposition into fish tissues.

China's "South-South" trade with Southeast Asia: unequal exchange and combined and uneven development

China’s unprecedented emergence as an economic and political power has created a new geopolitical economy for semi-industrialised and developing economies in Southeast Asia. This paper examines China’s trade relationships with Thailand and Indonesia using the concepts of uneven and combined development (UCD) and unequal exchange. The mass of surplus value obtained through China’s trade with the developed economies has flowed into the considerable expansion in China’s imports from developing countries since 2000. China has maintained a consistent trade deficit with the latter. While the developing countries concerned have benefitted from this set of relationships, the extent to which they have done so has been determined by national strategies. In countries like Thailand – where manufacturing capital and a significant working class has emerged – exports expanded on the basis of mutually advantageous technologically and skills intensive goods. These are produced with a similar organic composition of capital as in China. The result has been a further consolidation of the hegemony of manufacturing capital. Indonesia, however, has a political system and economy long dominated by resource exploitation linked fractions of capital. The result has been a surge in primary goods exports. The current commodity price cycle has meant these goods exchange at prices above their value. The current looming price correction, however, may have negative repercussions. In the meantime, the concentration in raw materials exports is helping to prevent the emergence of a circuit of productive capital in manufacturing. The evidence from these contrasting cases suggests that the degree to which developing economies can benefit from China’s own historically unparalleled combined development remains highly contingent on the strength of the combined development possibilities and efforts within these other national social formations. Above all, there is the degree to which manufacturing sectors of capital can obtain hegemony.

Australian government budget balance numbers: the hybrid nature of public sector accrual accounting

Purpose - The purpose of this paper is to analyse the nature and comparability of budget balance (surplus/deficit) numbers headlined by the Australian Commonwealth Government and the governments of the six Australian States and the two Australian Territories. It does this in the context of the transition to Australian accounting standard AASB 1049 Whole of Government and General Government Sector Financial Reporting. Design/methodology/approach - A case study research method is adopted, based on a content/documentary analysis of the headline budget balance numbers in the general government sector budget statements of each of the nine governments for the eight financial years from 2004-2005 to 2011-2012. Findings - Findings indicate some variation in the measurement bases adopted and a number of departures from the measurement bases prescribed in the reporting frameworks, including AASB 1049. Findings also reveal that none of the nine governments have headlined a full accrual based budget balance number since the implementation of AASB 1049 in 2008. Research limitations/implications - While the study focuses on the Australian general government sector environment, it has significant implications in highlighting the ambiguity in the government budget balance numbers presented and the monitoring and information asymmetry problems that can arise. Research findings have wider relevance internationally in highlighting issues arising with the public sector adoption of accrual accounting. Practical implications - The paper highlights the manner in which governments have been selective in the manner in which they present important budget aggregates. This has important practical and social implications, as the budget balance number is one of the most important measures used to evaluate a government's fiscal management and responsibility. Originality/value - The paper represents the first detailed examination of aspects of the effect of the transition to AASB 1049.

State-owned enterprises, competition and product quality

We consider a general oligopoly model with consumer surplus moderated quantity competition among state-owned enterprises (SOEs), where the SOEs employ workers who are members of the state-owned worker union and produce differentiated products. We show that increasing the number of SOEs would lead to an outcome in which these enterprises choose a lower level of product quality and this, in turn, results in welfare losses for the society, depending on the degree of substitutability. Our findings are consistent with the evidence from China and uncovers important linkages that exist between worker union, product quality and competition, and that have mostly been ignored in the industrial organisation, trade and development literature.