The economic burden of ill health due to diet, physical inactivity, smoking, alcohol and obesity in the UK : an update to 2006-07 NHS costs

Background: Estimates of the economic cost of risk factors for chronic disease to the NHS provide evidence for prioritization of resources for prevention and public health. Previous comparable estimates of the economic costs of poor diet, physical inactivity, smoking, alcohol and overweight/obesity were based on economic data from 1992–93.

Methods: Diseases associated with poor diet, physical inactivity, smoking, alcohol and overweight/obesity were identified. Risk factor-specific population attributable fractions for these diseases were applied to disease-specific estimates of the economic cost to the NHS in the UK in 2006–07.

Results: In 2006–07, poor diet-related ill health cost the NHS in the UK £5.8 billion. The cost of physical inactivity was £0.9 billion. Smoking cost was £3.3 billion, alcohol cost £3.3 billion, overweight and obesity cost £5.1 billion.

Conclusion: The estimates of the economic cost of risk factors for chronic disease presented here are based on recent financial data and are directly comparable. They suggest that poor diet is a behavioural risk factor that has the highest impact on the budget of the NHS, followed by alcohol consumption, smoking and physical inactivity.

Opportunity lost? Victorian Labor's enactment of community development 1999-2006

The idea of community development has been evoked by Australian governments over many decades. The expressions of community have differed widely, often as a result of politics rather than informed policy. In 1999, after seven years of radical neo-liberal restructuring in Victoria, the Bracks government found itself unexpectedly elected to power. They faced new challenges such as a diminished public sector, growing social inequality and climate change. The first two terms of Victorian Labor were a seminal period in terms of the role they would invoke for ‘community’. Did grass roots participation take a central place, or did rhetoric rule over substance? The evidence points to a government maintaining a neo-liberal trajectory, and thereby losing an opportunity to enable an active citizenry.

Analysing the relationship between new housing supply and residential construction costs with the regional heterogeneities

New housing supply in Australia has been experiencing a low rate of increase in conjunction with a dramatic increase in residential construction costs since the 1990s. This study aims to estimate the relationship between new housing supply and residential construction costs with the regional heterogeneities. Based on a panel error correction model, it can be identified that there is a causal link as well as a significant correlation between new housing supply and construction costs in the Australian sub-national housing construction markets. The model developed in this research assists policy makers to better understand the nature of the supply side of the housing sector and then enact appropriate policies to improve the new housing supply in Australia.

The Australian Labor Party and its various constituencies

This paper discusses whether and how the Australian Labor Party (ALP) can balance the arguably conflicting interests and outlooks of its blue-collar 'heartland' and the socially progressive, middle-class, professional elements of its constituency. The paper includes analysis, in socio-geographical detail and in historical perspective, of the results of the November 2001 national Australian election as well as opinion poll trends and academic survey results and interpretations before and since that time. Debate intensified after Labor’s 2001 election defeat about the supposedly irreconcilable character of different Labor Party constituencies. Much of this debate however was (and remains) characterised by derogatory and judgemental categorisations of various ill-defined social groups. On the eve of the 2004 national Australian election, based on careful consideration of a range of demographic and electoral evidence, this paper contends that, while there are, at times, conflicting interests and outlooks between different elements of the ALP's constituency (just as there is amid the support base of many social democratic parties in western nations), the party's electoral future will be best served by standing on and extending as far as possible the considerable common ground between these various elements. This common ground, it is argued, consists of egalitarian economic policies which promote security in people's lives and which thus build scope for the pursuit and acceptance of more compassionate, outward looking social policies. Its consolidation requires leadership by the Party in shaping public opinion rather than mere reaction to what is assumed to be static public opinion.

Putting the Australian Labor Party in international perspective

This paper assesses the Australian Labor Party's current debates over future directions with reference to attempts by the left of centre political parties in other western nations, especially in Western Europe, to deal with the end of the economic "golden age" since the early 1970s and the widespread resurgence of neo-liberal ideologies since the late 1970s. The dominant recent view of such comparisons has been through the ideological lens of the "Third Way". This vision however tends not to see relevant variations between the experiences of social democratic parties in individual Western European nations as they have sought to deal with adverse circumstances since the early 1970s. Nor does the Third Way view sufficiently extend to the widely varying background landscapes: that is, the different levels of historical achievement by left of centre parties in the different nations. Some social democratic parties in European countries are pursuing more progressive political agendas than the British Labour Party under Tony Blair and they are starting from a very different basis of policy achievement and political strength than either the British or Australian labour parties. The nature and extent of these international differences need now to be highlighted from an Australian political perspective in order to better inform the current debate about the range of options for the ALP and the current comparative condition of the Australian party system. As part of this analysis, the relationship between the erosion of the traditional blue-collar support bases of the major left of centre parties in various nations, amid economic restructuring and challenges to traditional immigration patterns, and the rise of support for anti-immigrant policies and parties, need to be carefully examined and evaluated.

Interpretation — appropriation : (making) an example of labor process theory

In this article, the author explores ethically problematic relations that may be reproduced within a genre of interpretive organizational research: namely, (U.K.) labor process theory (LPT). Although the author endorses LPT’s critical and explicitly antioppressive values, he argues that interpretive practices employed by core authors contradict the genre’s value base and function to silence and appropriate challenging empirical elements to affirm LPT’s valued interpretive schema. The author draws out deeply problematic implications of such appropriation through highlighting parallels between interpretation, appropriation, and colonization. The author ends by considering the nature of, and possibility for, more ethical “critical” interpretive organizational research.

New housing supply and residential construction costs in Australia : a panel ECM approach

The supply of new housing in Australia has been experiencing a low increase rate since the 1990s in conjunction with an increasingly strong housing demand. On the contrary, residential construction costs across Australia?s states maintained dramatic increases simultaneously. Economic theory suggests that new housing supply is correlated to the costs of residential constructions. However, few empirical studies have focused on examining this relationship for Australian housing markets. To comprehensively investigate the relationship between the supply of new housing and residential construction costs a function for new housing supply considering the effects of regional heterogeneities is introduced in this study. By estimating a panel error correction model (ECM) applicable for quantifying the correlation with regional heterogeneities, this research identifies that a causal link and a strong correlation exist in between new housing supply and residential construction costs in Australia.

The level of representative underwriting and the underwriting costs of REIT SEOs

Purpose – The purpose of this paper is to investigate factors influencing the underwriting discount for US Real Estate Investment Trust (REIT) Seasoned Equity Offerings (SEOs).

Design/methodology/approach – The study provides new evidence on determinants of underwriting discounts with a comprehensive dataset of 783 US REIT SEOs from 1996 until June 2010. Ordinary least squares regressions are performed to estimate the effect of the level of representative underwriting along with other potential factors on underwriting discounts.

Findings – The study complements the well-documented notion of the economies of scale in SEO underwriting discounts. The equally (value) weighted underwriting discounts averaged 4.21 per cent (4.10 per cent) with a declining trend over time. The findings of this study show the statistically and economically significant negative effect of the level of representative underwriting on the underwriting discounts, as well as the significance of the structure of underwriting syndicate in determining the underwriting discounts. The findings suggest that issuers can minimize the costs of raising secondary equity capital by optimally allocating the underwriting business among the underwriters.

Originality/value – This paper adds to the international REIT SEO literature by exploring new evidence behind underwriting discounts. The study includes data before and after the REIT Modernization Act 1999 and during the recent global financial crisis period.