In the shadow of the welfare state : the role of payday lending in poverty survival in Australia

A defining characteristic of contemporary welfare governance in many western countries has been a reduced role for governments in direct provision of welfare, including housing, education, health and income support. One of the unintended consequences of devolutionary trends in social welfare is the development of a ‘shadow welfare state’ (Fairbanks, 2009; Gottschalk, 2000), which is a term used to describe the complex partnerships between statebased social protection, voluntarism and marketised forms of welfare. Coupled with this development, conditional workfare schemes in countries such as the United States, Canada, the UK and Australia are pushing more people into informal and semi-formal means of poverty survival (Karger, 2005). These transformations are actively reshaping welfare subjectivities and the role of the state in urban governance. Like other countries such as the US, Canada and the UK, the fringe lending sector in Australia has experienced considerable growth over the last decade. Large numbers of people on low incomes in Australia are turning to non-mainstream financial services, such as payday lenders, for the provision of credit to make ends meet. In this paper, we argue that the use of fringe lenders by people on low incomes reveals important theoretical and practical insights into the relationship between the mixed economy of welfare and the mixed economy of credit in poverty survival.

Asset lending, unconscionable conduct and intermediaries

This article deals with cases where borrowers of loans for business or investment claimed their lender had engaged in asset lending which amounted to unconscionable conduct under the equitable doctrine or under the Australian Securities and Investments Commission Act 2001 (Cth). The article reviews recent cases, seeking to identify the key factors influencing a conclusion of, or against, unconscionable conduct. The article examines the practice of lending through intermediaries and how the application of agency law can insulate lenders from the wrongful conduct of intermediaries. The article explains the gap in the current position and discusses possible law reform which may remedy that.

Implementation and evaluation of open source unified communications for SMBs

Unified Communication (UC) is the integration of two or more real time communication systems into one platform. Integrating core communication systems into one overall enterprise level system delivers more than just cost saving. These real-time interactive communication services and applications over Internet Protocol (IP) have become critical in boosting employee accessibility and efficiency, improving customer support and fostering business agility. However, some small and medium-sized businesses (SMBs) are far from implementing this solution due to the high cost of initial deployment and ongoing support. In this paper, we will discuss and demonstrate an open source UC solution, viz. “Asterisk” for use by SMBs, and report on some performance tests using SIPp. The contribution from this research is the provision of technical advice to SMBs in deploying UC, which is manageable in terms of cost, ease of deployment and support.

Design and implementation of unified communications as a service based on the OpenStack cloud environment

Cloud Computing, based on early virtual computer concepts and technologies, is now itself a maturing technology in the marketplace and it has revolutionized the IT industry, being the powerful platform that many businesses are choosing to migrate their in-premises IT services onto. Cloud solution has the potential to reduce the capital and operational expenses associated with deploying IT services on their own. In this study, we have implemented our own private cloud solution, infrastructure as a service (IaaS), using the OpenStack platform with high availability and a dynamic resource allocation mechanism. Besides, we have hosted unified communication as a service (UCaaS) in the underlying IaaS and successfully tested voice over IP (VoIP), video conferencing, voice mail and instant messaging (IM) with clients located at the remote site. The proposed solution has been developed in order to give advice to bussinesses that want to build their own cloud environment, IaaS and host cloud services and applicatons in the cloud. This paper also aims at providing an alternate option for proprietary cloud solutions for service providers to consider.

Unified user experience model enabling a more comprehensive understanding of emotional experience design

Design deals with improving the lives of people. As such interactions with products, interfaces, and systems should facilitate not only usable and practical concerns but also mediate emotionally meaningful experiences. This paper presents an integrated and comprehensive model of experience, labeled 'Unified User Experience Model', covering the most prominent perspectives from across the design field. It is intended to support designers from different disciplines to consider the complexity of user experience. The vision of the model is to support both the analysis of existing products, interfaces, and systems, as well as the development of new designs that take into account this complexity. In essence, we hope the model can enable designers to develop more marketable, appropriate, and enhanced products to improve experiences and ultimately the lives of people.

Performance analysis of secure unified communications in the VMware-based cloud

Unified communications as a service (UCaaS) can be regarded as a cost-effective model for on-demand delivery of unified communications services in the cloud. However, addressing security concerns has been seen as the biggest challenge to the adoption of IT services in the cloud. This study set up a cloud system via VMware suite to emulate hosting unified communications (UC), the integration of two or more real time communication systems, services in the cloud in a laboratory environment. An Internet Protocol Security (IPSec) gateway was also set up to support network-level security for UCaaS against possible security exposures. This study was aimed at analysis of an implementation of UCaaS over IPSec and evaluation of the latency of encrypted UC traffic while protecting that traffic. Our test results show no latency while IPSec is implemented with a G.711 audio codec. However, the performance of the G.722 audio codec with an IPSec implementation affects the overall performance of the UC server. These results give technical advice and guidance to those involved in security controls in UC security on premises as well as in the cloud.

A unified approach to the gauging of space-time and internal symmetries

The properties of the manifold of a Lie groupG, fibered by the cosets of a sub-groupH, are exploited to obtain a geometrical description of gauge theories in space-timeG/H. Gauge potentials and matter fields are pullbacks of equivariant fields onG. Our concept of a connection is more restricted than that in the similar scheme of Ne'eman and Regge, so that its degrees of freedom are just those of a set of gauge potentials forG, onG/H, with no redundant components. The ldquotranslationalrdquo gauge potentials give rise in a natural way to a nonsingular tetrad onG/H. The underlying groupG to be gauged is the groupG of left translations on the manifoldG and is associated with a ldquotrivialrdquo connection, namely the Maurer-Cartan form. Gauge transformations are all those diffeomorphisms onG that preserve the fiber-bundle structure.

Grand unified mass

A recent article on the unified theory of Elementary Particle Forces by Howard Georgi and Sheldon Glashow (September 1980, page 30) points out that the unification of strong, weak and electromagnetic interactions involves the appearance of particles having almost macroscopic masses of about a nanogram (~1014 GeV). Such superheavy particles seem to be an inevitable feature of most grand unified theories Gravitation is still, however, left out of these various schemes.

A unified approach to the solution of plane problems of Magneto-elasticity with special reference to a hole in a thin infinite conducting plate

Under certain specific assumption it has been observed that the basic equations of magneto-elasticity in the case of plane deformation lead to a biharmonic equation, as in the case of the classical plane theory of elasticity. The method of solving boundary value problems has been properly modified and a unified approach in solving such problems has been suggested with special reference to problems relating thin infinite plates with a hole. Closed form expressions have been obtained for the stresses due to a uniform magnetic field present in the plane of deformation of a thin infinite conducting plate with a circular hole, the plate being deformed by a tension acting parallel to the direction of the magnetic field.

Splitting Algorithms for Fast Relay Selection: Generalizations, Analysis, and a Unified View

Relay selection for cooperative communications promises significant performance improvements, and is, therefore, attracting considerable attention. While several criteria have been proposed for selecting one or more relays, distributed mechanisms that perform the selection have received relatively less attention. In this paper, we develop a novel, yet simple, asymptotic analysis of a splitting-based multiple access selection algorithm to find the single best relay. The analysis leads to simpler and alternate expressions for the average number of slots required to find the best user. By introducing a new contention load' parameter, the analysis shows that the parameter settings used in the existing literature can be improved upon. New and simple bounds are also derived. Furthermore, we propose a new algorithm that addresses the general problem of selecting the best Q >= 1 relays, and analyze and optimize it. Even for a large number of relays, the scalable algorithm selects the best two relays within 4.406 slots and the best three within 6.491 slots, on average. We also propose a new and simple scheme for the practically relevant case of discrete metrics. Altogether, our results develop a unifying perspective about the general problem of distributed selection in cooperative systems and several other multi-node systems.

A unified construction of space-time codes with optimal rate-diversity tradeoff

The problem of constructing space-time (ST) block codes over a fixed, desired signal constellation is considered. In this situation, there is a tradeoff between the transmission rate as measured in constellation symbols per channel use and the transmit diversity gain achieved by the code. The transmit diversity is a measure of the rate of polynomial decay of pairwise error probability of the code with increase in the signal-to-noise ratio (SNR). In the setting of a quasi-static channel model, let n(t) denote the number of transmit antennas and T the block interval. For any n(t) <= T, a unified construction of (n(t) x T) ST codes is provided here, for a class of signal constellations that includes the familiar pulse-amplitude (PAM), quadrature-amplitude (QAM), and 2(K)-ary phase-shift-keying (PSK) modulations as special cases. The construction is optimal as measured by the rate-diversity tradeoff and can achieve any given integer point on the rate-diversity tradeoff curve. An estimate of the coding gain realized is given. Other results presented here include i) an extension of the optimal unified construction to the multiple fading block case, ii) a version of the optimal unified construction in which the underlying binary block codes are replaced by trellis codes, iii) the providing of a linear dispersion form for the underlying binary block codes, iv) a Gray-mapped version of the unified construction, and v) a generalization of construction of the S-ary case corresponding to constellations of size S-K. Items ii) and iii) are aimed at simplifying the decoding of this class of ST codes.

A unified approach to bubble and drop formation

An approach, starting with the bubble formation model of Khurana and Khumar, has been presented, which is found to be reasonably applicable to the formation of both bubbles and drops from single submerged nozzles. The model treats both the phenomena jointly as the formation of a dispersed phase entity resulting from injection, whose size depends upon operating parameters and physical properties.

Corporate Funding on the European Debt Capital Market

The integrated European debt capital market has undoubtedly broadened the possibilities for companies to access funding from the public and challenged investors to cope with an ever increasing complexity of its market participants. Well into the Euro-era, it is clear that the unified market has created potential for all involved parties, where investment opportunities are able to meet a supply of funds from a broad geographical area now summoned under a single currency. Europe’s traditionally heavy dependency on bank lending as a source of debt capital has thus been easing as corporate residents are able to tap into a deep and liquid capital market to satisfy their funding needs. As national barriers eroded with the inauguration of the Euro and interest rates for the EMU-members converged towards over-all lower yields, a new source of debt capital emerged to the vast majority of corporate residents under the new currency and gave an alternative to the traditionally more maturity-restricted bank debt. With increased sophistication came also an improved knowledge and understanding of the market and its participants. Further, investors became more willing to bear credit risk, which opened the market for firms of ever lower creditworthiness. In the process, the market as a whole saw a change in the profile of issuers, as non-financial firms increasingly sought their funding directly from the bond market. This thesis consists of three separate empirical studies on how corporates fund themselves on the European debt capital markets. The analysis focuses on a firm’s access to and behaviour on the capital market, subsequent the decision to raise capital through the issuance of arm’s length debt on the bond market. The specific areas considered are contributing to our knowledge in the fields of corporate finance and financial markets by considering explicitly firms’ primary market activities within the new market area. The first essay explores how reputation of an issuer affects its debt issuance. Essay two examines the choice of interest rate exposure on newly issued debt and the third and final essay explores pricing anomalies on corporate debt issues.

A unified model for auxiliary switch commutated DC-DC converters

A novel ZVS auxiliary switch commutated variation for all DGDC converter topologies has been proposed in 2006. With proper designation of the circuit variables (throw current I and the pole voltage V), all these converters are seen to be governed by an identical set of equations. With idealized switches, the steady-state performance is obtainable in an analytical form. The conversion ratio of the converter topologies is obtained. A generalized equivalent circuit emerges for all these converters from the steady-state conversion ratio. It also provides a dynamic model as well. With these generalized steady-state equivalent circuits, small signal analysis of these converters may be carried out readily. It enables one to use the familiar state space averaged results of the standard PWM DGDC converters for the resonant counterparts. Th dc and ac models reveals that dc and low frequency behaviour of the proposed family of converters is similiar to that of its PWM parent