Black and white : in search of an ‘apt’ response to Indigenous writing

‘The good editor,’ suggests Thomas McCormack in his Fiction Editor, the Novel and the Novelist, ‘reads, and … responds aptly’ to the writer’s work, ‘where “aptly” means “as the ideal appropriate reader would”.’ McCormack develops an argument that encompasses the dual ideas of sensibility and craft as essential characteristics of the fiction editor. But at an historical juncture that has seen increasing interest in the publication of Indigenous writing, and when Indigenous writers themselves may envisage a multiplicity of readers (writing, for instance, for family and community, and to educate a wider white audience), who is the ‘ideal appropriate reader’ for the literary works of the current generation of Australian Indigenous writers? And what should the work of this ‘good editor’ be when engaging with the text of an Indigenous writer? This paper examines such questions using the work of Margaret McDonell and Jennifer Jones, among others, to explore ways in which non-Indigenous editors may apply aspects of McCormack’s ‘apt response’ to the editing of Indigenous texts.

Black fella land – white fella tax : changing the CGT implications of aboriginal/native title

The taxation of aboriginal/native title payments gives rise to a number of complex and difficult legal and policy issues. Reform measures announced on 13 February 1998 by the then Federal Treasurer and Attorney-General did not address the possible capital gains tax (‘CGT’) implications and even those relating to ordinary income under s 6-5 Income Tax Assessment Act 1997 (Cth) remain unimplemented. The much anticipated Report of the Native Title Payments Working group (6 February 2009), while primarily focusing on non-taxation issues, also recognises the need for taxation reform and makes some recommendations in regard to such. Most recently, on 18 May the Assistant Treasurer, Senator Nick Sherry, the Minister for Families, Housing, Community Services and Indigenous Affairs, Jenny Macklin, and the Attorney General, Robert McClelland, announced the commencement of a national consultation on the tax treatment of native title, including the interaction of native title, Indigenous economic development and the tax system. The Assistant Treasurer recognised the need for “greater clarity and increased certainty for native title holders on how the tax system and native title interact.” At the same time, they released a paper entitled Native Title, Indigenous Economic Development and Tax to guide the national consultation. The proposed measures considered in the paper, including exempting Native title payments and/or creating a new tax exempt Indigenous Community Fund, provide a welcome step towards reform in this area. This article is part of a broader research project that explores the CGT implications of aboriginal/native title. While these provisions impact on both Indigenous traditional owners and relevant payers, such as mining companies, the focus in the project is particularly on the CGT implications for the traditional owners. This first part of the project examines the status of aboriginal/native title and incidental/ ancillary rights as CGT assets. The broader research project will then build on this analysis in the context of relevant CGT events. As the preliminary findings in this article evidence the CGT implications of aboriginal/native title are far from certain. The application of CGT to aboriginal/native title raises more issues than it answers. The key reason is that the current law is entirely unsuitable to communally held inalienable aboriginal/native title. Nevertheless, it will be seen that it is arguable that aboriginal/native title and/or incidental rights are post-CGT assets and acts in relation to such could trigger a CGT event with tax implications for the traditional owners. It will be suggested that these current tax provisions provide a very pertinent example where the law operates as a blunt tool that does not appropriately promote justice and reconciliation. To tax Indigenous communities as a result of acts that extinguish or impair their traditional ownership is incongruous. A specific provision(s) should be included in the capital gains provisions to ensure any such payments are exempt from taxation. This is not only fair given the history of uncompensated extinguishment of aboriginal title Australia, but also promotes the ability of Indigenous communities to optimise the financial benefits stemming from aboriginal/native title agreements.

Computational exploration of the biological basis of Black-Scholes expected utility function

It has often been argued that there exists an underlying biological basis of utility functions. Taking this line of argument a step further in this paper, we have aimed to computationally demonstrate the biological basis of the Black-Scholes functional form as applied to classical option pricing and hedging theory. The evolutionary optimality of the classical Black-Scholes function has been computationally established by means of a haploid genetic algorithm model. The objective was to minimize the dynamic hedging error for a portfolio of assets that is built to replicate the payoff from a European multi-asset option. The functional form that is seen to evolve over successive generations which best attains this optimization objective is the classical Black-Scholes function extended to a multiasset scenario.

Females of a viviparous fish (Skiffia multipunctata) reject males with black colouration

This study investigated whether male body colour is a trait upon which females of Skiffia multipunctata, a viviparous fish of the subfamily Goodeinae, base their choice of potential mate. About 60% of the males in the study had black patches on the sides of their bodies and/or dorsal fins. Patches varied in number, size and distribution. Most males (70% of the fish in the study) had diffuse orange colouration on their flanks, mainly on the peduncle. The hypothesis was that, after controlling for differences in body size, females would choose males with more black or orange colouration than males with less exaggerated patches of colour. However, in contrast to this hypothesis, females preferentially approached the males with less black colouration. Since orange colouration did not have a significant effect on female response, and there was no correlation between black and orange colours on the males in the study, females rejected males with more black colouration rather than preferring males with more orange or other visible colours. These findings indicate that sexual selection by female mate choice is not driving black or orange male body colouration in Skiffia multipunctata.