Flatpack revolution

The project consists of a trilogy of films and a live performance. The Future trilogy takes IKEA riot of 2005 as the starting point for a speculative history of a fictional future, culminating in a choreographed re-enactment of the original event. Shot on 16mm and 8mm film, the series explores the possibility of collective action emerging from the capitalist relations inherent in the consumer riot. The live performance No Haus Like Bau, staged at the HAU 1 theatre in Berlin for the 5th Berlin Biennale, continues this research into re-enactment and post-1989 politics by dramatizing the rise and fall of the soviet union as a neo-Constructivist mime using a stage set made of flatpack furniture. Using the aesthetics of Modernism and the avant garde, from Constructivist and Futurist constumes to biomechanics and Bauhaus theatre theory, the project transposes early twentieth century utopian ideology to a present day setting where mass uprisings are motivated by cheap commodities. These explorations of consumerism and revolution have been widely exhibited internationally and supported by Film London, Arts Council England, Collective Gallery and the Berlin Biennale. The Future Trilogy formed the basis of a solo exhibition at the Te Tuhi Art Centre in Auckland, New Zealand and was screened as part of the Signal and Noise media art festival in Vancouver, as well as other exhibitions and screenings including “Roll it to Me” at Collective Gallery, Edinburgh, and Apocatopia, Castlefield Gallery, Manchester.

Can objects perform?: agency and thingliness in contemporary sculpture and installation

In his 1967 essay, “Art and Objecthood”, Michael Fried bemoaned the theatricality of minimalist sculpture, which replaced the presentness of compositional sculpture with the staging of an experience for the viewer as performer. His argument has since been inverted by artists and art writers invested in the idea of sculptures as props forming part of an artistic experience economy. This discourse has accompanied the rise of relational aesthetics as a dominant paradigm for contemporary art. More recently, however, there has been a turn away from relationality to ‘object-oriented’ art, where objects are seen to stage their own theatrical experiences, performing themselves without requiring the activation of a viewer’s body. We trace parallels between the philosophy of Bruno Latour and the “Speculative Materialism” group and this emerging trend in sculpture. In ascribing agency to objects, Latour proposes a radical shift from philosophy’s traditional investigation of the relationship between the mind and the world. Drawn to the idea that matter can be creative, artists have embraced his thinking. However, we argue that this has lead to a generalized, universalizing humanism that disables political action. Moreover, it undermines the potential for anti-humanist critique latent in object-oriented philosophy.

The impact of buy to let residential investment on local housing markets: evidence from Glasgow, Scotland

The advent of the 'buy to let' (BTL) phenomenon in the UK. apart from producing a new wave of individualized rental market investment, has been widely judged to be a speculative and destabilizing force in the housing market. This paper provides a detailed empirical investigation of new residential investment in one city (Glasgow) where BTL has made a relatively large impact. In seeking to overcome data problems, the study employed qualitative (expert interviews and a landlord survey) and quantitative methods (census, the Register of Sasines, standardized house price information and modelling thereof) in order to assess the nature and scale of BTL, the motivations of investors and its impact on the private housing market. The evidence suggests that white Glasgow is in many re.spects different to rental markets elsewhere in the UK and although the investment has thus far largely occurred in a benign environment, the context for future investment, on balance, looks sustainable (i.e.favourable changes to pension planning law and the maturing market for BTL}. Long-term market impact is an empirical question that depends on the specific interactions of market niches or segments (i.e. the first-time buyer market for apartments} with potential buy to let investment. Our conclusion, to borrow a Scottish legal term, is that BTL induced volatility is 'not proven'.

Commercial real estate and equity market bubbles: are they contagious to REITs?

This paper uses a regime-switching approach to determine whether prices in the US stock, direct real estate and indirect real estate markets are driven by the presence of speculative bubbles. The results show significant evidence of the existence of periodically partially collapsing speculative bubbles in all three markets. A multivariate bubble model is then developed and implemented to evaluate whether the stock and real estate bubbles spill over into REITs. The underlying stock market bubble is found to be a stronger influence on the securitised real estate market bubble than that of the property market. Furthermore, the findings suggest a transmission of speculative bubbles from the direct real estate to the stock market, although this link is not present for the returns themselves.

No Haus Like Bau

The project consists of a live performance taking the 2005 IKEA riot as the starting point for a speculative history of a fictional future, culminating in a choreographed re-enactment of the original event. It is accompanied by a film series explores the possibility of collective action emerging from the capitalist relations inherent in the consumer riot. The performance, staged at the Berlin Biennale, continues this research into re-enactment and post-1989 politics, using a stage set made of flatpack furniture. Using the aesthetics of Modernism and the avant garde, the project transposes early twentieth century utopian ideology to a present day setting where mass uprisings are motivated by cheap commodities. By re-evaluating biomechanics and Bauhaus theatre theory, these explorations of consumerism and revolution propose that the mechanized movement developed in conjunction with industrial labour survives as a historical re-enactment in the wake of manufacturing work in the west. In the absence of a visual language apt to the contemporary, No Haus Like Bau uses re-enactment as a retrogarde tactic. Its purpose on the one hand is to invoke trajectories for alternate futures that never materialized at an originary moment. On the other hand, the clash of past forms with present content serves to accentuate the historical changes that have thrown into question these forms. Rather than reflecting the present, the projection of the past into a fictional future aims to destabilize the dominant narrative that suggests the current configuration of art, politics and human nature has always been this way. The project has been widely exhibited internationally and supported by Film London and Arts Council England. A theoretical essay on re-enactment as a strategy for performance has been published in Art Papers and in Memory [MIT]. The project also formed the basis of a solo exhibition at Te Tuhi Art Centre, Auckland.

The effects of corporate social performance on the cost of corporate debt and credit ratings

This study investigates the differential impact that various dimensions of corporate social performance have on the pricing of corporate debt as well as the assessment of the credit quality of specific bond issues. The empirical analysis, based on an extensive longitudinal data set, suggests that overall, good performance is rewarded and corporate social transgressions are penalized through lower and higher corporate bond yield spreads, respectively. Similar conclusions can be drawn when focusing on either the bond rating assigned to a specific debt issue or the probability of it being considered to be an asset of speculative grade.

Testing for bubbles in indirect property price cycles

Speculative bubbles are generated when investors include the expectation of the future price in their information set. Under these conditions, the actual market price of the security, that is set according to demand and supply, will be a function of the future price and vice versa. In the presence of speculative bubbles, positive expected bubble returns will lead to increased demand and will thus force prices to diverge from their fundamental value. This paper investigates whether the prices of UK equity-traded property stocks over the past 15 years contain evidence of a speculative bubble. The analysis draws upon the methodologies adopted in various studies examining price bubbles in the general stock market. Fundamental values are generated using two models: the dividend discount and the Gordon growth. Variance bounds tests are then applied to test for bubbles in the UK property asset prices. Finally, cointegration analysis is conducted to provide further evidence on the presence of bubbles. Evidence of the existence of bubbles is found, although these appear to be transitory and concentrated in the mid-to-late 1990s.

Booms and busts in commodity markets: bubbles or fundamentals?

This paper considers whether there were periodically collapsing rational speculative bubbles in commodity prices over a 40-year period from the late 1960s. We apply a switching regression approach to a broad range of commodities using two different measures of fundamental values—estimated from convenience yields and from a set of macroeconomic factors believed to affect commodity demand. We find reliable evidence for bubbles only among crude oil and feeder cattle, showing the popular belief that the extreme price movements observed in commodity markets were caused by pure speculation to be unsustainable

Entrepreneurial failure and economic crisis: an historical perspective

This chapter analyses the major UK economic crises that have occurred since the speculative bubbles of the seventeenth century. It integrates insights from economic history and business history to analyse both the general economic conditions and the specific business and financial practices that led to these crises. The analysis suggests a significant reinterpretation of the evidence – one that questions economists’ conventional views.

STABILITY ANALYSIS WITH APPLICATIONS OF A TWO-DIMENSIONAL DYNAMICAL SYSTEM ARISING FROM A STOCHASTIC MODEL FOR AN ASSET MARKET

We analyze the stability properties of equilibrium solutions and periodicity of orbits in a two-dimensional dynamical system whose orbits mimic the evolution of the price of an asset and the excess demand for that asset. The construction of the system is grounded upon a heterogeneous interacting agent model for a single risky asset market. An advantage of this construction procedure is that the resulting dynamical system becomes a macroscopic market model which mirrors the market quantities and qualities that would typically be taken into account solely at the microscopic level of modeling. The system`s parameters correspond to: (a) the proportion of speculators in a market; (b) the traders` speculative trend; (c) the degree of heterogeneity of idiosyncratic evaluations of the market agents with respect to the asset`s fundamental value; and (d) the strength of the feedback of the population excess demand on the asset price update increment. This correspondence allows us to employ our results in order to infer plausible causes for the emergence of price and demand fluctuations in a real asset market. The employment of dynamical systems for studying evolution of stochastic models of socio-economic phenomena is quite usual in the area of heterogeneous interacting agent models. However, in the vast majority of the cases present in the literature, these dynamical systems are one-dimensional. Our work is among the few in the area that construct and study analytically a two-dimensional dynamical system and apply it for explanation of socio-economic phenomena.

Australia, Asia and cultural anxiety : inaugural AHA Anniversary Public Lecture, given at the Grand Hotel, Mildura on 29 September (2003).

My theme tonight is the recurrent idea that Australia could be expected to have an Asian future. From the 1880s there developed a speculative literature around the notion that Asia ('generic Asia' as I prefer to call it) would exert an increasing influence, possibly a determining influence, on the development and settlement of the Australian continent. There is a certain pathos about this story of a young, newly formed community on the threshold of nationhood finding Asia blocking its path. Would the ensuing contest be the making of white Australia; would the young nation define its national purpose and assert its right to exist or would it succumb to a force more powerful? Would white Australia become nothing more than a faint historical memory, a failed experiment in the complex and uncertain business of nation building? In short, would white Australia fail?

International sentencing law: in search of a justification and coherent framework

An international sentencing jurisprudence is emerging from the decisions by the International Criminal Tribunal for the Former Yugoslavia (ICTY or the Yugoslav tribunal) and the International Criminal Tribunal for Rwanda (ICTR or the Rwanda tribunal) (collectively, 'the tribunals'). This article examines international sentencing law and practice and discusses the justification for the practice. International sentencing law has several objectives. The main goals are reconciliation, deterrence, retribution and rehabilitation. The sentencing inquiry is marked by a high degree of discretion and has resulted in sentencers developing a large amount of aggravating and mitigating considerations, such as being in a position of authority, remorse and good character. It is argued that the current international sentencing approach is flawed - fundamentally so. Most of the stated goals of international sentencing in the form of reconciliation, retribution and rehabilitation are either highly speculative or misguided. The only justification for the practice is general deterrence. This is, however, significantly undermined by the selective and infrequent enforcement of crimes within the jurisdiction of such tribunals. The stated aggravated and mitigating considerations are not valid given that they are not justified by reference to the stated aims of sentencing and only serve to undermine the search for a penalty which is commensurate the serious of the offence. This article suggests a coherent framework for international sentencing policy and practice.

Mlearning for India : any potential?

The trend towards mLearning is attributed to the growth of knowledge based societies (UNESC0,2005). In this paper, we examine if there is a case for mLearning in India, a developing nation with certain unique contributory factors such as rapid diffusion of mobile communication technologies negating the need for fixed line infrastructure; and the rising demand for flexible learning approaches by the eager, upwardly mobile, middle class population. Our research is informed by learning theory of constructivism that seems to underlie flexible adult learning in modem contexts. A speculative ongoing debate is examined through the lens of critical discourse analysis, to present an outlook for India. We open a launching platform for empirical work in India that would enable building of relevant models by extrapolating findings from this initial research. More significantly, the stakeholders in mLearning such as mobile technology/service providers, education providers and organisations that foster staff development in particular may be beneficiaries from the findings of this preliminary research.

Insights into exazaphosphorine resistance and possible approaches to its circumvention

The oxazaphosphorines cyclophosphamide, ifosfamide and trofosfamide remain a clinically useful class of anticancer drugs with substantial antitumour activity against a variety of solid tumors and hematological malignancies. A major limitation to their use is tumour resistance, which is due to multiple mechanisms that include increased DNA repair, increased cellular thiol levels, glutathione S-transferase and aldehyde dehydrogenase activities, and altered cell-death response to DNA damage. These mechanisms have been recently re-examined with the aid of sensitive analytical techniques, high-throughput proteomic and genomic approaches, and powerful pharmacogenetic tools. Oxazaphosphorine resistance, together with dose-limiting toxicity (mainly neutropenia and neurotoxicity), significantly hinders chemotherapy in patients, and hence, there is compelling need to find ways to overcome it. Four major approaches are currently being explored in preclinical models, some also in patients: combination with agents that modulate cellular response and disposition of oxazaphosphorines; antisense oligonucleotides directed against specific target genes; introduction of an activating gene (CYP3A4) into tumor tissue; and modification of dosing regimens. Of these approaches, antisense oligonucleotides and gene therapy are perhaps more speculative, requiring detailed safety and efficacy studies in preclinical models and in patients. A fifth approach is the design of novel oxazaphosphorines that have favourable pharmacokinetic and pharmacodynamic properties and are less vulnerable to resistance. Oxazaphosphorines not requiring hepatic CYP-mediated activation (for example, NSC 613060 and mafosfamide) or having additional targets (for example, glufosfamide that also targets glucose transport) have been synthesized and are being evaluated for safety and efficacy. Characterization of the molecular targets associated with oxazaphosphorine resistance may lead to a deeper understanding of the factors critical to the optimal use of these agents in chemotherapy and may allow the development of strategies to overcome resistance.

Shaping the self through psychotherapeutic means : gender and cross-generational perspectives

This paper explores psychotherapeutic themes and modes of thought emerging in interviews with mothers and daughters participating in a cross-generational study of young women 'on the margins'. The focus of the discussion is two-fold. First it discusses current theoretical debates concerning the ascendancy of psychotherapeutic modes of constituting the self, and argues that we require closer attention to the gendered and differentiated ways in which these are registered and articulated. Second, it considers the significance of 'happiness' and the ways in which pairs of mothers and daughters draw upon a repertoire of psychotherapeutic discourses to represent their relation to schooling, self, family, and work. It concludes with some speculative observations about the significance of attending to the psychotherapeutic turn for understanding contemporary femininity, the desire for openness as a measure of a good relationship (and of democracy), and contemporary aspirations of happiness.