889 resultados para Egypt--Economic policy--19th century
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taʼlīf Rifāʻah Rāfiʻ.
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Mode of access: Internet.
Much Ado About Nothing: The Limitation of Liability and the Market for 19th century Irish Bank Stock
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Abstract Limited liability is widely believed to be a prerequisite for the emergence of an active and liquid securities market because the transactions costs associated with trading ownership of unlimited liability firms are viewed as prohibitive. In this article, we examine the trading of shares in an Irish bank, which limited its liability in 1883. Using this bank’s archives, we assemble a time series of trading data, which we test for structural breaks. Our results suggest that the move to limited liability had a negligible impact upon the trading of this bank’s shares.
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La cuestión de la interpretación de Aristóteles por parte de la Academia alemana del siglo XIX es de interés tanto para filósofos como para economistas. Esto se debe a que el pensamiento clásico constituyó una cuestión de discusión e inspiración para el Idealismo, el Hegelianismo, el Historicismo y los economistas históricos alemanes (comenzando por Roscher) y su oponente austríaco, Carl Menger, fundador de la Escuela Austríaca de Economía. De este modo la filosofía antigua permaneció vigente. Al evaluar esta recepción, en este trabajo se muestra que el debate sobre entidades colectivas versus individualidad encuentra allí una base, y el individualismo metodológico, una justificación. Esto resulta útil aún hoy en el siglo veintiuno, en que presenciamos una crisis de la corriente principal de la economía.
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The EU began railway reform in earnest around the turn of the century. Two ‘railway packages’ have meanwhile been adopted amounting to a series of directives and a third package has been proposed. A range of complementary initiatives has been undertaken or is underway. This BEEP Briefing inspects the main economic aspects of EU rail reform. After highlighting the dramatic loss of market share of rail since the 1960s, the case for reform is argued to rest on three arguments: the need for greater competitiveness of rail, promoting the (market driven) diversion of road haulage to rail as a step towards sustainable mobility in Europe, and an end to the disproportional claims on public budgets of Member States. The core of the paper deals respectively with market failures in rail and in the internal market for rail services; the complex economic issues underlying vertical separation (unbundling) and pricing options; and the methods, potential and problems of introducing competition in rail freight and in passenger services. Market failures in the rail sector are several (natural monopoly, economies of density, safety and asymmetries of information), exacerbated by no less than 7 technical and legal barriers precluding the practical operation of an internal rail market. The EU choice to opt for vertical unbundling (with benefits similar in nature as in other network industries e.g. preventing opaque cross-subsidisation and greater cost revelation) risks the emergence of considerable coordination costs. The adoption of marginal cost pricing is problematic on economic grounds (drawbacks include arbitrary cost allocation rules in the presence of large economies of scope and relatively large common costs; a non-optimal incentive system, holding back the growth of freight services; possibly anti-competitive effects of two-part tariffs). Without further detailed harmonisation, it may also lead to many different systems in Member States, causing even greater distortions. Insofar as freight could develop into a competitive market, a combination of Ramsey pricing (given the incentive for service providers to keep market share) and price ceilings based on stand-alone costs might be superior in terms of competition, market growth and regulatory oversight. The incipient cooperative approach for path coordination and allocation is welcome but likely to be seriously insufficient. The arguments to introduce competition, notably in freight, are valuable and many e.g. optimal cross-border services, quality differentiation as well as general quality improvement, larger scale for cost recovery and a decrease of rent seeking. Nevertheless, it is not correct to argue for the introduction of competition in rail tout court. It depends on the size of the market and on removing a host of barriers; it requires careful PSO definition and costing; also, coordination failures ought to be pre-empted. On the other hand, reform and competition cannot and should not be assessed in a static perspective. Conduct and cost structures will change with reform. Infrastructure and investment in technology are known to generate enormous potential for cost savings, especially when coupled with the EU interoperability programme. All this dynamism may well help to induce entry and further enlarge the (net) welfare gains from EU railway reform. The paper ends with a few pointers for the way forward in EU rail reform.
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Construction sector policy makers have the opportunity to create improvements and develop economic, social and environmental sustainability through supply chain economics. The idea of the supply chain concept to improve firm behaviour and industry performance is not new. However there has been limited application and little or no measurement to monitor successful implementation. Often purchasing policies have been developed with sound strategic procurement principles but even these have had limited penetration in to the processes and practices of infrastructure agencies. The research reported in this paper documents an action research study currently being undertaken in the Australian construction sector which aims to explore supply chain economic policy implementation for sectoral change by two government agencies. The theory which informs this study is the emerging area of construction supply chain economics. There are five stages to the project including; demand analysis, chain analysis, government agency organizational audit, supplier strategy and strategic alignment. The overall objective is towards the development of a Supplier Group Strategy Map for two public sector agencies. Two construction subsectors are examined in detail; construction and demolition waste and precast concrete. Both of these subsectors are critical to the economic and environmental sustainability performance of the construction sector and the community as a whole in the particular jurisdictions. The local and state government agencies who are at the core of the case studies rely individually on the performance of these sectors. The study is set within the context of a sound state purchasing policy that has however, had limited application by the two agencies. Partial results of the study are presented and early findings indicate that the standard risk versus expenditure procurement model does not capture the complexities of project, owner and government risk considerations. A new model is proposed in this paper, which incorporates the added dimension of time. The research results have numerous stakeholders; they will hold particular value for those interested in regional construction sector economics, government agencies who develop and implement policy and who have a large construction purchasing imprint and the players involved in the two subsectors. Even though this is a study in Australia it has widespread applicability as previous research indicates that procurement reform is of international significance and policy implementation is problematic.
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Each year the Australian Federal Treasury releases its Tax Expenditures Statement providing details of concessions, benefits, and incentives delivered through the tax regime to Australian taxpayers. The current Tax Expenditures Statement, released on 25 January 2008, lists approximately 300 tax expenditures and reports on the estimated pecuniary value in terms of revenue foregone, estimated to be a total of $50.12 billion for the 2006-07 financial year. Apart from the annual Tax Expenditures Statement, and despite the recurring fiscal impact, there is very little other scrutiny of Australia’s Federal tax expenditures program. This is despite tax expenditures often being seen as an alternative to direct expenditures with similar impact on the Federal budget. The object of tax expenditures is to provide government assistance and meet government objectives, and, as such, tax expenditures are departures from the revenue raising aspect of the tax regime. Within this context, this article examines the fundamental concept of tax expenditures as contrasted with direct expenditures and considers the role they play in the current tax regime.
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My doctoral dissertation is on Johan Jakob Tikkanen (1857 1930), the first professor of art history in Finland, and his significance and methods in the context of late 19th and early 20th-century European art history. Tikkanen was one of the pioneering scholars in the field of medieval art research, and, along with Anton Springer, Heinrich Wölfflin, Aloïs Riegl, Adolfo Venturi, Franz Wickhoff, Julius von Schlosser, Aby Warburg, Emile Mâle and others, one of the scholars who defined art history as an independent academic discipline. Tikkanen s scholarly interests and his methods resemble those of many formalistically oriented German and Austrian art historians of his time. He became well known throughout Europe, mainly for his studies on illustrated medieval manuscripts. Tikkanen s dissertation, Der Malerische Styl Giotto s Versuch zu einer Characteristik Desselben, from 1884 was regarded in its day as the best form-analytical study on the painter. It has a central position in the present thesis, as it already included nearly all the methods that Tikkanen used and elaborated upon throughout his career. Giotto also gives a good perspective for comparing Tikkanen s ideas with a long art-historical tradition. Tikkanen was profoundly interested in artistic creativity. In his own words, he wanted to study das künstlerische Können , artistic ability, instead of das künstlerische Wollen or artistic will, which was an important theoretical issue in art history in the late 19th century. This starting point led him to the history of style and iconographical research. Along with the Danish art historian, Julius Lange, he was one of the first scholars who began to study the meaning of gestures and postures in art. In my dissertation I have emphasized the importance of Tikkanen s personal art education. I regard it as having influenced both his scholarly argumentation and his working methods. I have also written a short overview of the situation of art history in Finland and in Northern Countries before Tikkanen s time in order to give an idea of his scientific background. My thesis is a critical and historiographical study on J. J. Tikkanen s role in the development of art history and its methodology.
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Shore whaling along North America’s California and Baja California coasts during 1854–99 was ancillary to the offshore and alongshore American whale fishery, which had begun in the North Pacific in the early 1800’s and was flourishing by the 1840’s. From its inception at Monterey, Calif., in the mid 1850’s, the shore fishery, involving open boats deployed from land to catch and tow whales for processing, eventually spread from Monterey south to San Diego and Baja California and north to Crescent City near the California–Oregon border. It had declined to a relict industry by the 1880’s, although sporadic efforts continued into the early 20th century. The main target species were gray whales, Eschrichtius robustus, and humpback whales, Megaptera novaeangliae, with the valuable North Pacific right whale, Eubalaena japonica, also pursued opportunistically. Catch data are grossly incomplete for most stations; no logbooks were kept for these operations as they were for high-seas whaling voyages. Even when good information is available on catch levels, usually as number of whales landed or quantity of oil produced, it is rarely broken down by species. Therefore, we devised methods for extrapolation, interpolation, pro rationing, correction, and informed judgment to produce time series of catches. The resulting estimates of landings from 1854 to 1899 are 3,150 (SE = 112) gray whales and 1,637 (SE = 62) humpback whales. The numbers landed should be multiplied by 1.2 to account for hunting loss (i.e. whales harpooned or shot but not recovered and processed).
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This thesis is a study of military memorials and commemoration with a focus on Anglo-American practice. The main question is: How has history defined military memorials and commemoration and how have they changed since the 19th century. In an effort to resolve this, the work examines both historic and contemporary forms of memorials and commemoration and establishes that remembrance in sites of collective memory has been influenced by politics, conflicts and religion. Much has been written since the Great War about remembrance and memorialization; however, there is no common lexicon throughout the literature. In order to better explain and understand this complex subject, the work includes an up-to-date literature review and for the first time, terminologies are properly explained and defined. Particular attention is placed on recognizing important military legacies, being familiar with spiritual influences and identifying classic and new signs of remembrance. The thesis contends that commemoration is composed of three key principles – recognition, respect and reflection – that are intractably linked to the fabric of memorials. It also argues that it is time for the study of memorials to come of age and proposes Memorialogy as an interdisciplinary field of study of memorials and associated commemorative practices. Moreover, a more modern, adaptive, General Classification System is presented as a means of identifying and re-defining memorials according to certain groups, types and forms. Lastly, this thesis examines how peacekeeping and peace support operations are being memorialized and how the American tragic events of 11 September 2001 and the war in Afghanistan have forever changed the nature of memorials and commemoration within Canada and elsewhere. This work goes beyond what has been studied and written about over the last century and provides a deeper level of analysis and a fresh approach to understanding the field of Memorialogy.