Informal finance and rural finance policy in India: historical and contemporary perspectives

From the 1950s up to the early 1990s the All-India data show an ever-declining share of informal credit in the total outstanding debt of rural households. Contemporaneous micro-level studies, using more qualitative research methodologies, provide evidence that questions the strength of this trend, and more recent All-India credit surveys show, first, a levelling, and then a rise, in the share of rural informal credit in 1990/91 and 2000/01, respectively. By reference to findings of a study of village moneylenders in Rajasthan, the paper notes lessons to be drawn. First, informal financial agents have not disappeared from the rural financial landscape in India. Second, formal-sector financial institutions can learn much about rural financial service needs from the financial products and processes of their informal counterparts. Third, a national survey of informal agents, similar to that of the 1921 Census survey of indigenous bankers and moneylenders, would provide valuable pointers towards policy options for the sector. A recent Reserve Bank of India Report on Moneylender Legislation not only explores incentive mechanisms to better ensure fair practice, but also proposes provision for a new category of loan providers that would explicitly link the rural informal and formal financial sectors.

An ancient pollinator of a contemporary plant (Cyclamen persicum): When pollination syndromes break down

Pollination of Cyclamen persicum (Primulaceae) was studied in two wild populations in Israel. Buzz-pollination proved to be extremely rare, and performed by a large Anthophora bee only. The most frequent pollinators were various unspecialized species of thrips (Thysanoptera) and hoverflies (Syrphidae). In the Winter-flowering populations the commonest visitor was a small primitive moth, Micropteris elegans (Micropterigidae, Lepidoptera). These moths feed on pollen, copulate and oviposit within the flowers. From the rarity of buzz-pollination it is concluded that the genus Cyclamen co-evolved with large bees capable of buzz-pollination, but lost its original pollinators for unknown historical reasons. The vacant niche was then open to various unspecialized pollen consumers such as thrips, hoverflies and small solitary bees. While these insects are not specific to C. persicum and seem to play a minor role only, the moth strictly relies upon Cyclamen and seems to be the most efficient pollinator.

Evidence of systematic approaches to innovation in facilities management

Purpose – This paper seeks to examine the nature of “service innovation” in the facilities management (FM) context. It reviews recent thinking on “service innovation” as distinct from “product innovation”. Applying these contemporary perspectives it describes UK case studies of 11 innovations in different FM organisations. These include both in-house client-based innovations and third-party innovations. Design/methodology/approach – The study described in the paper encompasses 11 different innovations that constitute a mix of process, product and practice innovations. All of the innovations stem from UK-based organisations that were subject to in-depth interviews regarding the identification, screening, commitment of resources and implementation of the selected innovations. Findings – The research suggested that service innovation is highly active in the UK FM sector. However, the process of innovation rarely followed a common formalized path. Generally, the innovations were one-shot commitments at the early stage. None of the innovations studied failed to proceed to full adoption stage. This was either due to the reluctance of participating organisations to volunteer “tested but unsuccessful” innovations or the absence of any trial methods that might have exposed an innovations shortcomings. Research limitations/implications – The selection of innovations was restricted to the UK context. Moreover, the choice of innovations was partly determined by the innovating organisation. This selection process appeared to emphasise “one-shot” high profile technological innovations, typically associated with software. This may have been at the expense of less resource intensive, bottom-up innovations. Practical implications – This paper suggests that there is a role for “research and innovation” teams within larger FM organisations, whether they are client-based or third-party. Central to this philosophy is an approach that is open to the possibility of failure. The innovations studied were risk averse with a firm commitment to proceed at the early stage. Originality/value – This paper introduces new thinking on the subject of “service innovation” to the context of FM. It presents research and development as a planned solution to innovation. This approach will enable service organisations to fully test and exploit service innovations.

The philosophy of W. Ross Ashby and its relationship to 'The Matrix'

Ashby was a keen observer of the world around him, as per his technological and psychiatrical developments. Over the years, he drew numerous philosophical conclusions on the nature of human intelligence and the operation of the brain, on artificial intelligence and the thinking ability of computers and even on science in general. In this paper, the quite profound philosophy espoused by Ashby is considered as a whole, in particular in terms of its relationship with the world as it stands now and even in terms of scientific predictions of where things might lead. A meaningful comparison is made between Ashby's comments and the science fiction concept of 'The Matrix' and serious consideration is given as to how much Ashby's ideas lay open the possibility of the matrix becoming a real world eventuality.