Ideology, centralisation and urban planning in Britain and Sweden

This paper outlines the main elements of the Thatcherist ideology focusing on the process of centralisation. The implications of this process for British local government and planning are explored. Attention then turns to Sweden with a discussion of the consensus culture and decentralisation policy. Again the implications for planning are pursued with an emphasis on the 'negotiation' style of planning which has emerged in recent years. The concluding section compares the two experiences and notes many similarities notwithstanding the different ideological contexts.

Ideological dominance in recreation provision: towards a theory of Local Authority response to Compulsory Competitive Tendering in Britain

This paper considers how the delivery of public leisure services in Britain has been affected by the imposition of Compulsory Competitive Tendering (CCT) on the management of facilities. In particular, it focuses on the changing relationship between the central and local levels of government, theorising a tripartite local response to CCT, incorporating local statism, post-Fordist rejection of CCT and post- Fordist compliance with the aims of the central administration. The paper then discusses the actual implementation of CCT, relating the theorised responses to those witnessed in practice. This results in the delineation of a continuum of stances, ranging from pragmatic forms of local statism, such as the protection of the former direct labour force, to centrist attempts to combine the ethics of socialism with the mechanics of the market, to an outright rejection of state organisation and control. The paper concludes that although legitimate attempts have been made to protect local services, the outcome of the CCT process has undoubtedly been the regeneration of public leisure provision away from its service roots towards a market model of provision.

The future of the tenanted sector in British agriculture: a review of the proposals for change

The impending decline of the tenanted sector in British agriculture has been forecast for many years. Much debate has surrounded the issues and ensuing legislation has repeatedly attempted to stave-off what some view as the inevitable demise of tenant farmers. Following a flurry of activity after the Northfield Report of 1979 and culminating in the Agricultural Holdings Acts of 1984 and 1986, the debate has recently been fuelled by a strongly pro-market lobby. With the public support of successive Ministers of Agriculture, this lobby has advocated a rejection of the former state intervention in the landlord/tenant relationship in favour of freedom of contract, an option that now appears increasingly likely to reach the statute books. This paper reviews the significant elements of the debate, attempting to explain the principal reasons for the failure of earlier legislation and the primary shortcomings of the current emphasis of consultation. The paper concludes that while there are some significant legislative disincentives to letting land, the freeing-up of contracts in isolation from other, non-contractual issues, will not result in the increase in lettings purportedly desired by the Ministers and their acolytes.

Building the foundations for a market-oriented planning system in Bulgaria

Planning is highly conditioned by the relationships between the market, state and politics. This becomes particularly clear in looking at the changes taking place in the countries of the former Communist block as they attempt to establish a new set of relationships. The old power structures have been dislodged and old laws discarded. This paper examines the situation in Bulgaria and explores the preconditions for setting up a new planning system there. The first section outlines the political changes since 1989 and shows how political instability has effected the pace of change. The establishment of a market in land and property is a second precondition for the planning system there and moves in this direction are presented, including restitution policies. Finally the issues raised by the early attempts towards a new planning system are discussed. This paper is the first of a series looking at the countries of Eastern Europe and the author would welcome comments from others working in this field.

Fuzzy analysis: a vague way of dealing with uncertainty in real estate analysis?

Risk and uncertainty are, to say the least, poorly considered by most individuals involved in real estate analysis - in both development and investment appraisal. Surveyors continue to express 'uncertainty' about the value (risk) of using relatively objective methods of analysis to account for these factors. These methods attempt to identify the risk elements more explicitly. Conventionally this is done by deriving probability distributions for the uncontrolled variables in the system. A suggested 'new' way of "being able to express our uncertainty or slight vagueness about some of the qualitative judgements and not entirely certain data required in the course of the problem..." uses the application of fuzzy logic. This paper discusses and demonstrates the terminology and methodology of fuzzy analysis. In particular it attempts a comparison of the procedures with those used in 'conventional' risk analysis approaches and critically investigates whether a fuzzy approach offers an alternative to the use of probability based analysis for dealing with aspects of risk and uncertainty in real estate analysis

A note on the use of spreadsheet optimisers in real estate analysis

Modern Portfolio Theory (MPT) has been advocated as a more rational approach to the construction of real estate portfolios. The application of MPT can now be achieved with relative ease using the powerful facilities of modern spreadsheet, and does not necessarily need specialist software. This capability is to be found in the use of an add-in Tool now found in several spreadsheets, called an Optimiser or Solver. The value in using this kind of more sophisticated analysis feature of spreadsheets is increasingly difficult to ignore. This paper examines the use of the spreadsheet Optimiser in handling asset allocation problems. Using the Markowitz Mean-Variance approach, the paper introduces the necessary calculations, and shows, by means of an elementary example implemented in Microsoft's Excel, how the Optimiser may be used. Emphasis is placed on understanding the inputs and outputs from the portfolio optimisation process, and the danger of treating the Optimiser as a Black Box is discussed.

The UK Department of National Heritage: a model for the development and integration of leisure policy in the new Europe?

Leisure is in the vanguard of a social and cultural revolution which is replacing the former East/West political bipolarity with a globalised economic system in which the new Europe has a central rôle. Within this revolution, leisure, including recreation, culture and tourism, is constructed as the epitome of successful capitalist development; the very legitimisation of the global transmogrification from a production to a consumption orientation. While acting as a direct encouragement to the political transformation in many eastern European states, it is uncertain how the issue of leisure policy is being handled, given its centrality to the new economic order. This paper therefore examines the experience of western Europe, considering in particular the degree to which the newly-created Department of National Heritage in the UK provides a potential model for leisure development and policy integration in the new Europe. Despite an official rhetoric of support and promotion of leisure activities, reflecting the growing economic significance of tourism and the positive relationship between leisure provision and regional economic development, the paper establishes that in the place of the traditional rôle of the state in promoting leisure interests, the introduction of the Department has signified a shift to the use of leisure to promote the Government's interests, particularly in regenerating citizen rights claims towards the market. While an institution such as the Department of National Heritage may have relevance to emerging states as a element in the maintenance of political hegemony, therefore, it is questionable how far it can be viewed as a promoter or protector of leisure as a signifier of a newly-won political, economic and cultural freedom throughout Europe.

Is there a place for property in the multi-asset portfolio?

The case for property has typically rested on the application of modern portfolio theory (MPT), in that property has been shown to offer increased diversification benefits within a multi asset portfolio without hurting portfolio returns especially for lower risk portfolios. However this view is based upon the use of historic, usually appraisal based, data for property. Recent research suggests strongly that such data significantly underestimates the risk characteristics of property, because appraisals explicitly or implicitly smooth out much of the real volatility in property returns. This paper examines the portfolio diversification effects of including property in a multi-asset portfolio, using UK appraisal based (smoothed) data and several derived de-smoothed series. Having considered the effects of de-smoothing, we then consider the inclusion of a further low risk asset (cash) in order to investigate further whether property's place in a low risk portfolio is maintained. The conclusions of this study are that the previous supposed benefits of including property have been overstated. Although property may still have a place in a 'balanced' institutional portfolio, the case for property needs to be reassessed and not be based simplistically on the application of MPT.

Leisure, consumerism and active citizenship in the UK

Since the first election victory of the Thatcher administration in 1979, Britain has witnessed a cultural transformation from the municipal socialism enshrined in the post-World War 2 development of the Welfare State to a form of post-industrial entrepreneurialism based largely on market rationality. This has had a profound effect on all aspects of civil life, not least the redefinition of the role of active leisure. Since the late 1950s the dominant policy for active leisure has been 'Sport For All', an assertion of a social right too important to be left to the market. The transformation has, therefore, signalled a shift from government support for active leisure as an element of citizen rights to the use of leisure to promote the government's interest in legitimating a new social order based not on rights but on means. Thus access to active living is no longer a societal goal for all, but a discretionary consumer good, the consumption of which signifies 'active' citizenship. It furthermore signifies differentiation from the growing mass of 'deviants' who are unwilling or unable to embrace this new construction of citizenship and are, therefore, increasingly denied access to active living and, hence, active citizenship.