Is it really good to annuitize?

Although rational consumers without bequest motives are better off investing exclusively with annuitized instruments in partial equilibrium, we demonstrate the welfare effect of annuitization is ambiguous in general equilibrium on account of pecuniary externalities. Absent institutional constraints like prices and budgets, the optimal consumption rule would have marginal utility increase at the preferential discount rate. In a rational competitive equilibrium where households fully annuitize, the growth rate of marginal utility will be the discount rate minus the interest rate, resulting in a consumption profile that is too flat. Accidental bequests transfer wealth from the old to the young, steepening the consumption profile and yielding a better equilibrium. If households are restricted to Keynesian consumption functions, the optimal irrational equilibrium with standard preferences can replicate observed consumption and macroeconomic behavior, and the equilibrium without annuities delivers higher utility than the equilibrium with annuities. Whereas preceding papers have merely hypothesized that households might engage in socially optimal, yet irrational behavior, the failure of households to annuitize is a real-world example of this. Policymakers should not take steps to encourage more annuitization by the public.

An exercise in good government: Fukuzawa Yukichi on emigration and nation-building

Fukuzawa Yukichi penned a series of articles from 1884 to 1896 on why the Japanese must emigrate and settle abroad. Most striking is Fukuzawa's opposition to any legislation preventing the movement of Japanese subjects abroad, including rural women who migrated with the purpose of engaging in prostitution abroad. According to Fukuzawa, the challenge facing Japanese government policy makers was not at what point do you say "no" to poor rural women migrating abroad, but the opposite, at what point should you say "yes."

Good works and god's work

Eighty per cent of the world’s population profess religious faith, making religious belief a common human characteristic found in all cultures and societies. Within development studies’ literature and practice, religion and faith have been largely ignored or misunderstood. While religious organisations are primarily concerned with providing spiritual leadership,an interest in the physical welfare of their communities is also a core aspect of their existence. Within Vanuatu, an important community space is the church building with a range of community development activities taking place within it. This case study considers how community development activities are incorporated into the daily ministries of Christian Churches in Vanuatu, including the use of church buildings as the location for these activities.

A just judgement? Considerations on Ronald Srigley’s Camus’ Critique of Modernity

This paper responds critically to Ronald Srigley’s groundbreaking 2011 study Albert Camus’ Critique of Modernity. Srigley’s book reasserts Camus’ credentials as a deeply serious thinker, whose literary and philosophical oeuvre was dedicated to rethinking modernity on the basis of critical reassessments of theWest’s entire premodern heritage. Yet we challenge whether Camus was ever, even in his final writings, so uncompromisingly anti-modern as Srigley contends. Srigley’s attempt to present Camus as committed to a return to the Greeks, on the basis of a total critique of modernity as deleteriously post-Christian, forces him to occlude important distinctions in Camus’ thought: those between unity and totality, rebellion and revolution. By contrast, we compare Camus’ defence of modern rebellion with Blumenberg’s argument in The Legitimacy of the Modern Age: finding justification for this rebellion in the deep problem faced by Christian theology of resolving the ‘problem of evil’. Finally, we suggest that Srigley overplays the extent of Camus’ ‘Hellenic’ critique of the Christian heritage (notably its ethical commitment to protecting the weak), in contrast to Christian theodicy and eschatology, which serve to rationalize avoidable suffering.

A good place to raise a family? Comparing parents, service-providers', and media perspectives of the inner and outer suburban areas of Melbourne

In Australia, the suburbs have historically been the favoured place to raise children. However this is being challenged both by social change and government policy encouraging innerurban renewal. We examined how inner-urban areas compare with more traditional suburban locations as places to raise a family. Recognising that there are many influences on perceptions of place, we included the opinions of parents, service-providers and the media in the two locations.

Research focused on two municipalities in Melbourne, one located >25km and the other <10km from the CBD. Themes were obtained and compared from in-depth interviews with parents, serviceproviders and analysis of municipality-specific and state-wide newspaper articles.

Service provision was the only theme common at all levels of analysis. For all other themes, differences occurred between perspectives of service-providers, media and parents, as well as between the two residential locations. These in-depth snapshots on the challenges and rewards of raising children in different urban locations can help inform government in planning healthy neighbourhoods that better serve the needs of contemporary Australian families.

Narratives of judgement: representations of 'privileged' Jews in Holocaust documentaries

Auschwitz survivor Primo Levi’s highly influential essay, “The Grey Zone”, explores the taboo issue of “privileged” Jews, those prisoners who were forced to cooperate with their Nazi captors in order to prolong their lives or the lives of their families. Levi argues that moral evaluations of privileged Jews should be suspended; however, judgements of these liminal figures have permeated representations of victims’ experiences. Taking Levi’s reflections on the “grey zone” as a point of departure, I analyse the ways in which a number of Holocaust documentary narratives construct problematic judgements of privileged Jews; nonetheless, it will be shown that some films engage with the issue in a nuanced manner. While Levi singles out the medium of film as particularly predisposed to simplistic judgements, I argue that documentary film has considerable potential to offer a complex representation of the extreme ethical dilemmas that privileged Jews faced.

The good news about television: attitudes aren't getting worse: tracking public attitudes toward TV advertising

Periodically tracking public sentiment toward television advertising (TVA) is an important barometer for the advertising industry and its myriad stakeholders. To date, however, most studies of consumers’ attitudes to TVA have been cross-sectional. This study, alternatively, provides a quasi-longitudinal examination of Australian attitudes toward TVA across four time points (2002, 2005, 2008, and 2010). Findings suggest that although attitudes toward TVA are generally negative, in fact they have not deteriorated over time. Considerable scope consequently exists for improving consumer attitudes toward TVA.