Should we save or should we consume? Linking growth theories and the Keynesian models

In major economic growth theories, high saving rate gives rise to high level of output per capita. But in Keynesian economics, high saving rate causes low consumption and will lead the economy into recession. Students may ask, "For the well-being of an economy, should we save or should we consume?" In most of the intermediate macroeconomics textbooks, economic growth and Keynesian economics are taught in separate chapters; and in many cases, these chapters are not even successive to each other. There lacks a continuity between the long run and short run models. This paper builds a bridge between growth theories and Keynesian models. It links the Solow diagram and the IS-LM curves and depicts the short run and long run implications of a change in the saving rate.

To save or to consume: linking growth theory with the Keynesian model

In the neoclassical growth theory, higher saving rate gives rise to higher output per capita. However, in the Keynesian model, higher saving rate causes lower consumption, which may lead to a recession. Students may ask, “Should we save or should we consume?” In most of the macroeconomics textbooks, economic growth and Keynesian economics are in separate, sometimes unsequential, chapters. The connection between the short run and the long run is not apparent. The author builds a bridge between the neoclassical growth theory and the Keynesian model. He links the Solow diagram and the IS-LM curves and depicts the short-run to long-run transition of the economy after changes in saving and other macroeconomic policies.

Post-growth policy instruments

This paper proposes a framework to evaluate post-growth policy instruments which gauges their capacity to lessen the pressure for growth emanating from the labour market and the state’s contradictory legitimisation and accumulation imperatives, whilst increasing societal well-being and reducing the biophysical throughput of the economy. It is argued that the most effective policies to do this are measures to reduce average working hours, expand low productivity sectors and reduce inequality. Specific policies instruments include public sector expansion and the promotion of cooperatives, the introduction of citizens’ basic income schemes, environmental tax reform, the abolition of fossil fuel subsidies, reforms to monetary policy, financial regulatory reform and the introduction of alternative measures of progress to gross domestic product.

Issues concerning the on-going care of patients with comorbidities in acute care and post-discharge in Australia: a literature review

Issues concerning the on-going care of patients with comorbidities in acute care and post-discharge in Australia: a literature review

Background. Advances in medical science and improved lifestyles have reduced mortality rates in Australia and most western countries. This has resulted in an ageing population with a concomitant growth in the number of people who are living with chronic illnesses. Indeed a significant number of younger people experience more than one chronic illness. Large numbers of these may require repeated admissions to hospital for acute or episodic care that is superimposed upon the needs of their chronic conditions.

Aim. To explore the issues that circumscribe the complexities of caring for people with concurrent chronic illnesses, or comorbidities, in the acute care setting and postdischarge.

Methods. A literature review to examine the issues that impact upon the provision of comprehensive care to patients with comorbidities in the acute care setting and postdischarge.

Findings. Few studies have investigated this subject. From an Australian perspective, it is evident that the structure of the current health care environment has made it difficult to meet the needs of patients with comorbidities in the acute care setting and postdischarge. This is of major concern for nurses attempting to provide comprehensive care to an increasingly prevalent group of chronically ill people.

Conclusion. Further research is necessary to explore how episodic care is integrated into the on-going management of patients with comorbidities and how nurse clinicians can better use an episode of acute illness as an opportunity to review their overall management.

Health beliefs and behaviours of home economics teachers in Victoria

Data from questionnaires mailed to post-primary home economics teachers suggests that they possess untapped knowledge and expertise that could be used in intersectoral approaches to health promotion outside classroom teaching.

Does privatisation drive innovation? Business model innovation through stakeholder viewpoints: the case of Sydney Airport 10 years post-privatisation

Broad economic and social reform, rapid technological change and increasing global competition have meant that organisations must consider all aspects of their business model in order to successfully create and capture ongoing customer value. In this study it is proposed that business model innovation must always consider and incorporate the symbiotic and interdependent relationship that stakeholders have with an organisation. One particular aspect of economic reform, privatisation, has become an important driver of economic growth in many economies, particularly when linked with the rapid growth of air travel. Privatisation of an airport can generate a radical change in the overall business model for the airport owner and the various stakeholders involved in the operation of the airport. Sydney Airport has restructured its overarching business model to meet the demands of stakeholders. Using feedback from key stakeholders, this research examines the generally accepted view that airport privatisation leads to an improvement in airport performance. Chesbrough's Business Model Framework provides a lens to assist the analysis of Sydney Airport operations before and after privatisation, and provides valuable insights into the impact of privatisation on business model innovation. © Cambridge University Press and Australian and New Zealand Academy of Management 2014.

Review of Post-CLERP 9 Australian auditor independence research

The Corporate Law Economic Reform Program (Audit Reform & Corporate Disclosure) Act 2004 (CLERP 9) added substantial new provisions pertaining to auditor independence, and followed in the wake of financial reporting scandals during 2000 to 2003. Many of the regulatory changes were framed in the earlier Ramsay Report, which drew on independence concerns raised in the academic literature. This review paper reviews Australian academic research investigating auditor independence, framed by our conceptual understanding of auditor independence, to assess what we have learned about the impact of CLERP 9 on auditor independence. Our review of Australian auditor independence research published post-CLERP 9 reveals little evidence of the impact of the regulatory changes on auditor behaviour (independence in fact) and perceptions (independence in appearance). We conclude there are substantial needs for further research on the impact of the CLERP 9 amendments on auditor independence and any enduring independence issues. We identify particular areas for future research that may better inform policy development and argue that the prospect of high-quality relevant research will increase if regulatory agencies, the accounting profession and audit practitioners engage more with academics in the research process. We identify several ways in which this might occur.

Middle-class school choice in urban spaces: the economics of public schooling and globalized education reform

Middle-class School Choice in Urban Spaces examines government-funded public schools from a range of perspectives and scholarship in order to examine the historical, political and economic conditions of public schooling within a globalized, post-welfare context. In this book, Rowe argues that post-welfare policy conditions are detrimental to government-funded public schools, as they engender consistent pressure in rearticulating the public school in alignment with the market, produce tensions in serving the more historical conceptualizations of public schooling, and are preoccupied by contemporary profit-driven concerns.Chapters focus on public schooling from different global perspectives, with examples from Chile and the US, to examine how various social movements encapsulate ideologies around public schooling. Rowe also draws upon a rich, five-year ethnographic study of campaigns lobbying the Victorian State Government in Australia for a brand-new, local-specific public school. Critical attention is paid to the public school as a means to achieve empowerment and overcome discrimination, and both a local and global lens are used to identify how parents choose the public school, the values they attach to it, and the strategies they use to obtain it. Also considered, however, are how quality gaps, distances and differences between public schools threaten to undermine the democracy of education as a means for individuals to be socially mobile and escape poverty.This book makes an important contribution to our understanding of global social movements and activism around public education. As such, it will be of key interest to researchers, academics and postgraduate students in the field of education, specifically those working on school choice, class and identity, as well as educational geography.