bluuebunny/crossref_metadata_2025 huggingface dataset:
Your customers are not altogether happy
Authors: Rainbow Stephen W
Published: February 2008

Students from the Plymouth Business School carried out research into what consumers felt about standards of customer service and care during the academic year 1985/86. Results appear to indicate that there is considerable room for improvement. Furthermore, consumers are significantly affected by the service and care they receive in stores and are likely to alter their “patronage behaviour”!
How Outward Bound training can lead to better buying
Authors: Forrester RA
Published: February 2008

Does an Outward Bound type training course help young buyers and executives improve their management skills? Bob Forrester describes how a group of executives from the Clydesdale Group stretched themselves physically on a weekend course at Ormidale House, and how it affected their performance in the training room afterwards.
A new image for Bijenkorf at Utrecht
Authors: Sands David
Published: February 2008

The Bijenkorf group of department stores in Holland has a unique significance for Dutch people, evoking sentiments of childhood nostalgia and security. Not that they have always been tied to comfortable solidity; as long ago as the late 1950s they brought in Naum Gabo, the Bauhaus designer, to work on the new Rotterdam store which emerged from the ruins of that destroyed city. Now this attention to design has been maintained with Bijenkorf's decision to use Fitch & Co for their new store in Utrecht. The accent is firmly on fashion and leisure.
Shop location analysis
Authors: Rogers David
Published: February 2008

Even with all the work that has been going on in shop location over the past few years, too many retailers are still not sufficiently thorough and organised in their location procedures. In this feature David Rogers outlines a number of techniques available for estimating turnovers and evaluating new sites.
Shopper movement in a planned shopping centre
Authors: Brown Stephen
Published: February 2008

The internal layout of a shopping centre and the spatial relationships of the individual shop units within it are important, to retailers and planners alike. However, relatively little work has been done on analysing the behaviour of pedestrians within shopping centres. To remedy this a week‐long observation study was undertaken in the Park Centre, Belfast; the results are here described by Stephen Brown.
Supermarkets in China
Authors: Blois Keith
Published: February 2008

China is moving into the modern retailing age with around 150 supermarkets — though that may not seem much with a population of 1,100 million. But there are problems — prices in general are rather high, space allocation is somewhat arbitrary, and packaging is deplorable. This article is based on an eight week working visit by the author to Beijing.
Developments in retail software
Authors: Freestone David
Published: February 2008

What is the future for retail software? David Freestone's view is that suppliers will continue to orientate their software towards specific merchandise areas and types of retailer, instead of trying to be all embracing. And more retailers will make their own systems available to others.
The Smartcard in Norway
Authors: Alyanakian Edmond
Published: February 2008

The use of the Smartcard in Norway started with an experiment in Lillestrøm in September 1984. It was generally recognised as a success and in December 1986 the decision was taken to introduce the Smartcard on a nationwide basis. This is a summarised version of a paper given by Edmond Alyanakian to the International Retail Conference of the GDI, at Zurich recently.
AMERICAN REFLECTIONS
Authors: Rogers David
Published: February 2008

In this third in a series of “columns” on various aspects of American retailing, David Rogers looks at supermarkets, discount office supplies, customer service and consumer electronics, amongst other things. David Rogers was one of the speakers at the Food Marketing Institute's Annual Convention in Chicago in May; he gave a presentation on niche marketing.
The future of grocery retailing in the UK
Authors: Killen Vincent , Lees Rob
Published: February 2008

Over the last ten years the structure of the UK retail grocery sector has changed substantially, with concentration and centralisation being the key features. Store size has increased; own label merchandising and in‐store technology have both developed; and there has been increasing centralisation at head office level. In order to assess these major changes, the Centre for Business Research at Manchester Business School carried out a survey to examine the opinions and predictions of experts in grocery retailing. These experts included retailers, food‐based manufacturers, and various industry analysts. This article forms Part 1 of a feature on the results of the survey; Part 2 will be published in the near future.
Improving staff effectiveness
Authors: Fox PG
Published: February 2008

Thorntons the confectioners have recently up‐graded their shops (over 180 in the UK) to introduce the “gifting” concept, with both self‐selection of packaged items and a survery for loose chocolates and toffee. Drew Management & Associates were asked to set up a labour scheduling system for these shops, to provide adequate customer service within acceptable payroll levels. This article describes how, as a result of the project, Thorntons have been able to improve the effectiveness of their retail staff by more than 6 per cent.
RETAILING WITHOUT FRONTERS
Authors: Treadgold Alan
Published: February 2008

The writer has recently been engaged in a research project addressing the theme of retailing internationalisation. The thrust of the research has been an identification of the extent and geographical orientation of cross‐frontier retailing, and the strategies employed by major retailers to enter and subsequently operate in overseas markets. This paper reviews the recent activities of a number of major retailers, principally from the UK and continental Europe but also from North America, Australia and Scandinavia, to have developed such an international presence. The writer suggests that in considering the location of their overseas interests together with the strategies employed to enter foreign markets, a number of distinct groupings are identifiable. Furthermore, these groupings are, to some extent, indicative of the way in which retailers will pursue their international ambitions in the future. The research presented in this paper was funded by Coopers & Lybrand as part of a joint programme of research into the retail trades being conducted by Coopers & Lybrand and OXIRM.
The future of grocery retailing in the UK
Authors: Killen Vincent , Lees Rob
Published: February 2008

The Centre for Business Research at Manchester Business School recently carried out a survey on the opinions and predictions of experts in grocery retailing. Part 1 of the results of this survey was published in the July/August issue; there, we outlined the responses to the questions associated with the changes in the structure of the retail grocery market. Part 2 deals with the extent and impact of the major operational issues facing retailers, against a background of continuing structural change.
Is US retailing slowing down?
Authors: Cox Roger
Published: February 2008

A fall in the number of new shopping centres opened; saturation of some of the larger regional markets; the decline of older shopping malls and some downtown sections; and a general uncertainty amongst retail managers. All these are aspects of American retailing perceived by our contributor, recently returned from a tour of the States.
Internationalism:
Authors: Ody Penelope
Published: February 2008

While most expanding UK retailers are still preoccupied with such issues as whether to open their next branch in Nottingham or Northampton or relocate the distribution warehouse from Watford to Warrington, a growing band of multinational operators are more likely to be simultaneously opening almost identical shops in Madrid or Malawi, San Francisco or Sao Paulo. Global retailing is not something that is going to happen in 1992 — it is here, now, and can present one of the greatest challenges to successful UK chains. A recent Management Horizons conference put the spotlight on internationalism.
Are SHOP NUMBERS rising or falling?
Authors: Schiller Russell , Boucke Oliver
Published: February 2008

The evidence is confused, but it looks as if shop numbers in the UK may be rising, according to our contributors. There are interesting implications if this is so; fringe areas round town centres may not be declining, and there may be growing variety in our high streets.
Warehouse and distribution software
Authors: Freestone David
Published: February 2008

Information technology is not a solution, it is a tool which can be used to handle business problems, according to one of the speakers at a recent conference on warehouse and distribution software organised by the National Materials Handling Centre. Speakers came from a wide range of organisations — supplier companies, food distributors, and retailers such as Marks & Spencer.
Preparing for the Christmas rush: will it be icing on the cake or Boxing Day blues?
Authors: Collinge Phil
Published: February 2008

The perils of the Distribution Manager's role are never more clearly illustrated than by the Christmas rush and the January hangover. If Christmas 1988 meant seat of the pants survival, now is the time to reflect on it and plan your strategy for what the pundits say will be a tougher 1989. This article examines how centralised distribution has changed the role's emphasis from physical distribution to supply chain management, and how the successful management of stocks is the key to success.
The role of the shopping centre manager
Authors: Kaye Clive
Published: February 2008

“Excellence in management” was the theme pursued by Clive Kaye in his presentation to the recent conference of the International Council of Shopping Centres, held in Vienna. In a wide‐ranging paper he discussed the relationship with tenants, marketing the centre, the centre manager as adviser to the architect and designer, and the relationship of the manager with professional colleagues.
Is the recession just starting?
Authors: Cox Roger
Published: February 2008

Our commentator speculates as to whether we might be getting longer intervals between our recessions, and is the next one just starting? All is good news, however, as far as Tesco is concerned, with a pre‐tax profits increase of over 22 per cent. And Ratners have done even better, with a rise in pre‐tax profits as much as 63 per cent.
The Scala‐Buda department store
Authors: Worthington Steve
Published: February 2008

In June the author visited Hungary for a two week period under the British Council's Cultural Exchange Programme to review the current state of the Co‐operative Movement in Hungary. What he describes as one of his most “interesting and rewarding visits” was to the Skala group head office where he met the Chairman of the group, and then the Skala‐Buda department store where he was given a conducted tour of this “jewel” of Hungarian retailing.
A good performance by W H Smith
Authors: Cox Roger
Published: February 2008

W H Smith is performing well, on the whole. Apparently the low average spend in the group is cushioning it against consumer downturn; conversely, sales at the Do‐It‐All DIY chain have been affected. W H Smith has also bought the prestigious Waterstones group of bookshops and plans to add to it Sherratt & Hughes. This will improve Smiths' share of the book market from about 17 to a massive 20 per cent. Also in this feature: Great Universal Stores and Boots.
Customer attitudes toward service
Authors: Simmons Martin
Published: February 2008

Is customer service getting worse? Earlier this year Gordon Simmons Research, in association with Management & Marketing Development Ltd, interviewed a representative national sample of 1,007 adults aged 16 years and over. These adults were asked which retail types they had visited in the last four weeks and whether they had any complaints about the service received on any of their visits. The research was concerned with problems at the point of sale rather than after‐sales service. Martin Simmons' conclusion is that customer service standards are going to get worse before they get better, and that any retailer who can demonstrate a competitive edge in service levels and staff training could more than pay for his investment through higher sales and profits.
Closer encounters with the customer
Authors: Hunt Derek
Published: February 2008

The furniture/furnishing sector is going through a bad patch at the moment. Nonetheless, MFI recently announced record operating profits of almost £92 million on a group turnover of over £600 million. In this Digital conference paper Derek Hunt talks about MFI's recent efforts to understand customers better, by studying market segmentation and also attracting new customers through alliances of one type or another.
Centralised distribution in the non‐food sector
Authors: Bowring Jacqueline A
Published: February 2008

Although centralised distribution is firmly established in the food sector, non‐food retailers have been slower to pick up on the system, due to the more diverse needs of the products that they sell. Different non‐food retailers obviously have different needs from their distribution systems.
The whirlwind that hit Next
Authors: Cox Roger
Published: February 2008

The past year has not been a particularly good one for Next, with the high street side of the business being rather more badly hit than the mail order side. Our contributor also looks at the food sector, and where it's going over the next few years. Are we about to see a return to price cutting as a result of the high interest policies of the government? And what about the level of customer service? Also — a remarkably good half‐year for Marks & Spencer.
MATERIAL AND MORAL INCENTIVES AS ECONOMIC POLICY INSTRUMENTS
Authors: Goulet Denis
Published: February 2008

The collapse of command economies in the Second World, and the monopoly of structural adjustment as prescribed development policy for the Third World, have thrust incentives to the center of debates about economic policy. As one political economist declares, “Few economists today would dispute the desirability of using incentives to invite and welcome the contributions of people's resources to the economy rather than employing commands and public appeals.” The British development economist Reginald Green puts it more pointedly: “The importance of incentives is not a matter open to debate, nor is the importance of material incentives and participation. The divergence is one which incentives are most cost effective and how to package them in specific contexts.”
FOREIGN DIRECT INVESTMENT DECISION, TRANSACTION‐COST ECONOMICS AND POLITICAL UNCERTAINTY
Authors: Hosseini Hamid
Published: February 2008

The end of World War II brought about many economic changes, among them the tremendous increase of US manufacturing activities in Western Europe. This astronomical increase of foreign direct investment (FDI) required a new theory ‐ an economic theory of foreign direct investment. International economic theory, which traditionally had ignored the FDI decision, was not able to explain the FDI decision, nor could it explain the phenomena of multinational corporation (MNC). In a world of perfect competition, foreign direct investment would be absent. And when all markets operate efficiently, when there are no external economies of production and marketing, when information is costless and there are no barriers to trade or competition, international trade is the only possible form of international involvement. Logically, it follows that it is the departures from the models of perfect competition that must provide the rationale for foreign direct investment. Since, according to the Heckscher‐ Ohlin‐Samuelson (neoclassical) model, trade of goods will equalize factor prices in a world of factor immobility. In fact, the FDI decision is even ignored by new international economics which, since the late 1970's, has utilized new developments in the field of industrial organization. Proponents of these new theories have developed models that emphasize increasing returns and imperfect competition and see the possibility that government involvements in trade (trade restrictions, export subsidies, etc.) may under some circumstances be useful. All of this is done while foreign direct investment is ignored.
A NOTE ON THE EXISTENCE OF AN ISLAMIC SOCIAL WELFARE FUNCTION
Authors: Hallaq Said
Published: February 2008

This paper aims at examining the possibility of constructing an Arrow‐social welfare function (SWF) in an Islamic community, that is abide by the Islamic tradition (i.e. the Shari'ah), where the domain of the individuals is defined in the context of Islamic framework. This domain is defined by the Shari'ah, where part of that domain is constrained, such that those actions that lie in the wajib (i.e. obligatory) or haram (i.e. prohibited), where the individual has no choice, must be thoroughly explored with respect to such a welfare function to consistency with the Shari'ah. Individual choice functions only within that segment of the domain that Islamic law leaves to the individual; the individual makes choices concerning actions in which they will not lose any praise or reward if they do or do not act one way or another. My concern in this regard will be the Mubah (i.e. permissible) range of the individual domain. In the process of examining the possibility of constructing an Arrow form (SWF) in an Islamic community, I have added a new Axiom to those suggested by Arrow (1951, pp.22–31). Kenneth J. Arrow, in his book Social Choice and Individuals Values (1951), has argued that five requirements of ‘fairness’ must characterize an acceptable social welfare function. He finds that these are inconsistent with each other. In fact, no welfare function exists that will satisfy all of those conditions simultaneously. As laid out by Arrow, these five conditions are, respectively: (1) universal domain; (2) positive association of individuals' values; (3) independence of irrelevant alternatives; (4) citizens' sovereignty; (5) nondictatorship. These conditions, characterized by Arrow as “seemingly innocuous” together rule out the possibility of deriving a complete and consistent (SWF) (Luce and Raiffa, 1957, p.328). The new axiom which I will refer to as Islamically imposed axiom such that, in the process of formulating an Arrow form social welfare function, it is important to be consistent with the Shari'ah. The Islamically imposed condition will thus guarantee the consistency with the Shari'ah in the process of formulating a social welfare function. This axiom implies that to maintain consistency the following must hold: When ti, (which refers to actions that individuals must do) is an element of the choice set (xi, ti), ti will always be chosen over xi (which refers to the feasible set of alternatives that individuals can choose from), and when tio is an element of the choice set (which refers to actions that individuals must not do), it will never be chosen. I came to the conclusion that when the choice set contains alternatives that the individual must do (wajib) or must not do (haram), the former will be chosen and the latter will never be chosen. Thus, for the general case, Arrow's negative results follow. If these elements are not in the choice set (i.e. all elements in the choice set belongs to Mubah activities), then Arrow's results follow in a straightforward fashion.
ECONOMICS AND RELIGIOUS INSTITUTIONS
Authors: Wein Sheldon
Published: February 2008

Justice requires that public institutions treat each person as an equal. A complete theory of justice should provide an account of those principles which both best organize and defend our various sentiments about justice and tell us which institutional arrangements and public policies will, in a given set of circumstances, best serve to ensure that our society is or becomes a just one. In the pluralistic liberal democracies of developed western societies we all accept the notion that governments, if they are to be just governments, must not play favorites. Governments have a duty to treat each person with equal concern and respect, or as a free and equal moral person, and to organize their activities so that, so far as possible, they are neutral between various competing conceptions of how one ought to live one's life. In accepting this we all agree that political discourse is to be limited to those options which can be seriously defended from an egalitarian plateau. We reject any position which can be shown to count some for more than one, or others for less than one. This agreed upon egalitarian plateau has come to be called the neutrality principle.
THE ROLE OF FAMILY AS AN INSTITUTION IN MATERIALIZING THE ETHICO‐ECONOMIC ASPECTS OF HUMAN‐FULFILMENTS
Authors: Huq Pramanaik Ataul
Published: February 2008

Human fulfilments are linked to human needs. The magnitude as well as the diversity of needs determines the probability of needs being fulfilled or unfulfilled. The degree of accomplishments also hinges on the time and the socio‐economic environments made available to satisfy the desired needs. Of the two factors ‐ time and environments used as a proxy for opportunities, the former being the most crucial factor is controlled by the creator and the latter by the creation. Here comes the role of the creator in so far as the human need fulfilments are concerned. Therefore, none, not even the nihilist can deny the presence of a super power, call it the God, the Almighty or the Nature that is in full control of time factor even though many of us tend to believe in the power of the creation to make use of time and environments in the way he likes.
INSTRUMENTAL RATIONALITY AND THE HUMAN DIMENSIONS
Authors: Lutz Mark A.
Published: February 2008

The idea of what constitutes rationality has always been central to moral philosophy as well as to modern social science and economics; regardless of the fact that its meaning has also greatly changed during the last five hundred years. While for Aristotle and his followers, full rationality implied not only effective deliberation of means towards any given end, but also that such end had to be rationally selected with the guidance of reason or “practical wisdom”, since the age of Thomas Hobbes and David Humes, the concept of rationality has been reduced to one of seeking the best means to any particular end, wise or unwise. In the process, reason was relegated to mere “reckoning”, of adding and subtracting according to arithmetic rules. The good was simply what was desired, motivated by a physiological appetite for survival or otherwise. As could have been expected, such mechanical mode of reasoning readily provided the rudiments of contemporary computational theories of action, in particular game theory (see Cudd, 1993).
From Self‐Interest to Moral Maturity: The Significance of Moral Developmental Theory for Economics
Authors: Evans Marguerite
Published: February 2008

The essays by Sauer and Cassidy have argued that significant questions can be raised philosophically and historically about the guiding assumptions of economic behaviour. One can also argue that these assumptions offer a partial view of human being with an accompanying loss of the sense of the whole person. Economics tends to reduce the multiform and rich notion of person to simply a datum of economic activity. In this essay, I will argue that there is a need to re‐examine basic assumptions about what it means to be fully human. I will do this from the perspective of developmental psychology, because developmental psychology has empirically based theories that produce expectations about humanity and the future that are very different from those ascribed by economics. This essay will examine developmental theory, particularly that of Robert Kegan, to show its relevance to providing a direction for economics.
The Ontology of Islamic Political Economy: A Metatheoretic Analysis
Authors: Ghosh B.N.
Published: February 2008

Although political economy of the Islamic system is as old as the Quran, the renewed interest in the study of Islamic Political Economy (IPE) among the muslim and non‐muslim scholars is of comparatively recent origin. As an emerging discipline and operational system, IPE needs to demarcate clearly its methodological boundary. What is the ontology of IPE? What is its scope and subject matter? These are some of the questions which are briefly addressed in this paper.
Studies in the Theory and Application of Ocean Currents: Some Ethico‐Scientific Reflections
Authors: Ali Mohammad I.
Published: February 2008

In this article the author discovers a most economic method of velocity calculation of ocean currents with the help of salinity measurements at different depths instead of density measurements‐method that has been followed by the midshipmen and marine research fellows. He also presents all possible applications of ocean currents in the development of navigation, navy, power and energy‐production, oceanography, meteorology, food and medicine‐supplies. The application of ocean current dynamics on ecological life is elaborated in the case of different kinds of fish and amphibian life. The ethico‐scientific implications of these case studies are based on the knowledge of harmonious interactions that exist between the inanimate natural world (ocean currents), the animate natural world (amphibian life) and the human world.
Ireland's Apostles of Peace
Authors: O'Neil Daniel J.
Published: February 2008

The period from the death of Charles Stewart Parnell (1891) to the establishment of the Irish Free State (1922) was a momentous one for Ireland. There was a cultural revitalization (1891– 1916), a Rising (1916), the Anglo‐Irish War (1919–21), the Treaty (1922), and the Civil War (1922–23) before the new Irish state settled into a routine pattern. This was a period characterized by assertive nationalism, dogmatism, and intolerance that led to violence and bloodshed. The result would be an independent Ireland, but a divided Ireland with potential for explosion in the North. Still there were people who surmounted the polemic of the moment and sought rational compromise and mutual tolerance. These were individuals who sought limited practical objectives, empathized with their adversaries, demonstrated civility, and often predicted the problems of the future. These were the “apostles of peace”. Among Ireland's many notables, three of such caliber stand out — Arthur Griffith, Horace Plunkett, and Eoin MacNeill. These men were intimately associated with the affairs of their day and were recognized for their integrity and professional accomplishment. They were also associated with the major peaceful attempts to solve Ireland's problems and avoid the warfare that ensued. Griffith, the journalist, founded the early Sinn Fein and came temporarily to lead the Irish Free State. Plunkett, the Anglo‐Irish aristocrat, founded the cooperative movement. MacNeill, the civil servant and historian, was involved in starting the Gaelic League and the Irish Volunteers. These were the “apostles of peace” and Ireland's subsequent trauma stemmed from their limited number. The objective of this study is to examine the careers of these three exceptional notables and ascertain if there exist some pattern. Are there generalizations that might be made about them collectively?
Ethics as Generalised Economics: A Conceptual Framework for Dealing with Choices Between Economic and Non‐Economic Activities
Authors: Haddad Louis
Published: February 2008

Starting from the premise that ethics is the ‘science’ of free choice or voluntary decisions, it seems economists have a special contribution to make towards a ‘general’ theory of choice to deal with decisions that cut across the social sciences. Economists have devised elaborate and sophisticated theories and techniques (eg. the indifference map, general equilibrium theory) to deal with economic choices and decisions. However, economic decisions are only a sub‐set of decisions which are analytically separate but not independent of other decisions. By treating economic choices as if they were self‐contained, economists in their policy advice and normative economics have committed a major fallacy of separating ‘economic welfare’ from ‘total welfare’. Consequently, their advice may, at best, be ‘good’ economics but are often ‘bad’ ethics or ‘bad’ politics. Conversely, the advice of moralists (or political scientists) may be ‘good’ ethics (or ‘good’ politics) but may often be bad as economics. In either case, the decisions are almost certain to be unsatisfactory or ‘wrong’.
Rationality in Production: The Case of The Muslim Firm
Authors: Hallaq Said
Published: February 2008

In an Islamic environment, the behavior of the Muslim firm is different from that of the non‐Muslim. The Muslim firm ultimate objective is not only to maximize profit but also to enrich his love of hereafter and for achieving (falah) or success by sacrificing part of his profit for the benefit of the Muslim society (according to the degree of faith he possesses). This study aims to answer the following question: How does care for the good of the society influence the Muslim firm decisions? The answer to that question has been answered by formulating an objective function of the Muslim firm and deriving the optimally necessary conditions for maximization.
The Significance of Socialization and Cohesion in Contemporary Society — Military Transitions
Authors: Cardinali Richard
Published: February 2008

The author has observed that a common social background assists members of military organizations to develop as a cohesive unit. Similarities in previous social experiences such as social class, regional origin and age appears to contribute toward solidification of the primary group. This paper briefly examines the factors which contribute to the development of socialization and cohesion in an organization. One vehicle to assist the reader in understanding the cohesion concept is the discussion of the German Wehrmacht model and its impact on the issue.
Venture Capital: What's a “Poor” State To Do?
Authors: Tosterud Robert J.
Published: February 2008

Available evidence suggests that South Dakota is one of only five states in the US that has no formal venture capital outlet, to either commit or disburse financing — no professional venture capital firm, no private or public or combination seed and start‐up fund, or bank Community Development Corporation. The absence of South Dakota in the disbursements list where 42 states and the District of Columbia are identified as receiving venture capital funds in 1990, is particularly telling. If South Dakota expressed a “need” for venture capital, the venture capital industry either felt no obligation to satisfy it or saw insufficient economic opportunity. Or, perhaps, South Dakota, and other similarly “disadvantaged” states, all yet to effectively express their need.
Eternal Challenge of Islamic Economics to Capitalism and Communism
Authors: Iqbal Anjum Muhammad
Published: February 2008

Capitalism is fundamentally an economics of producers that has always served the cause of producers. Its special concern for economizing the production process in the guise of economic efficiency went always in favor of producers at the cost of interests of workers and consumers thereby creating a strong sense of economic deprivation in the conscience of workers and low‐income consumers who generally constitute the majority of the population in almost all the developed countries including the United States of America. It is this growing sense of economic deprivation that can be easily observed, especially in the big cities of the United States of America, as a catalyst for Marxist reaction. The Marxist fruit of Capitalist international economics appeared in the form of cold war within the global economy between the rich and the poor countries. Keeping in view the historical dynamics of Marxist movement, twentieth century Capitalist economists have consciously started to counter the threat of Marxism by incorporating in economics the extensive analysis of issues such as social welfare function, interdependent utility functions, intertemporal utility functions, equity in distribution, unemployment insurance, economic development, labor unionism, full‐employment of labor, economic rents, consumer protectionism etc. in the form of labor economics, public sector economics and development economics. It was no doubt a Capitalists' cleverish attempt to redress the grievances, mainly resulting from market failures, of the economically depressed classes within the Capitalist system. So far problems of the depressed classes could not be solved and are not at all expected to be fully solved within the original Capitalistic framework due to its inherent exploitative tendencies.
Comparative Analysis of Investment in Capitalistic and Islamic Banking Systems Under Certainty and Risk Conditions
Authors: Toutounchian Iraj
Published: February 2008

Banks perform, in general, two functions; one is to collect deposits and the other is to issue loans. In the traditional banking system depositor would be guaranteed a predetermined return on the nominal value of the deposit by the bank; furthermore, in most cases the deposits, themselves, are insured (FDIC is an example). Loan users in return pay a predetermined return on the amount of fund used; besides, the user has to provide a safe collateral in order to guarantee the principal and the interest. Hence it can be safely said that these banks play a passive role in the economy in the sense that their operations are quite inflexible in the face of any economic fluctuations. As the result it has rightly been said that in these banks “…since the nominal value of deposits is guaranteed … shocks that can lead to banking crisis can cause divergence between real assets and real liabilities and it is not clear how this equilibrium would be corrected and how long the process of adjustment would take.” This is the real essence of fund intermediary function of a traditional (capitalistic) bank.
Ethics, Morals and Values: A Malaysian Experience in Alternative Development
Authors: Abdul Malik Uzir , Ghafar Ismail Abdul
Published: February 2008

Development, both economic and social, has been uppermost in the minds of the Malaysian fathers of independence in the process of nation building. Although the nation inherited the British systems of liberal democracy and capitalism, it also inherited many of the problems it had created earlier among which were a nation divided by race, culture and religion and a society divided by disparities in economic functions, income levels and social standings. Thus the main functions of nation building have since then been that of creating national unity and redressing economic and social disparities.
Ethico‐Economic Institution of Zakah: An Instrument of Self‐Reliance and Sustainable Grassroot Development
Authors: Sadeq AbulHasan M.
Published: February 2008

Zakah is an important ethico‐economic institution in the Islamic code of life. It provides a mandatory mechanism for sharing societal resources in a Muslim community. It redistributes income and wealth, plays an important role in poverty alleviation, and thus can contribute to grassroot development. This paper analyzes Zakah's role in this context, and suggests how this institution can be made an instrument of self‐reliance and sustainable development of those who live below poverty line.
THE IDEOLOGY OF ARAB LEADERSHIP
Authors: Alfaouri Refat
Published: February 2008

The political leadership in the Arab world has certain characteristics, which are based on historical, ideological, and social factors. Few of the Arab leaders have changed their traditional style, as in the case of Jordan, but the majority of them have not. In this paper the (prophetic‐Caliphal) model will be tested. The model has been introduced by Professor Al‐Khadra in (1974) and depicts the dynamics of political leadership in the Arab world. In order to avoid misunderstanding, the model will be called the (Charismatic‐Authoritative Model).
BEYOND RATIONALISM: THE ROLE OF VALUES AND EMOTIONS IN AN ISLAMIC ECONOMY
Authors: Hallaq Said
Published: February 2008

Are men and women akin to single‐minded, “cold” calculators, each out to maximize his or her own well‐beings? Are humans able to figure out rationally the most efficient way to realize their goals? Is society mainly a market place, in which self‐serving individuals compete with one‐another‐at work in politics and in courtship enhancing the general welfare in the process? Assuming human beings see themselves both as members of a community and as self‐serving individuals, how are the lines drawn between the commitments to the commons and to one's self? we are now in the middle of a paradigmatic struggle. Challenged is the entrenched utilitarian, rationalistic — individualistic, neoclassical paradigm which is applied not merely to the economy but also, increasingly, to the full array of social relations, from crime to family. One main challenger is a social‐conservative paradigm that sees individuals as morally deficient and often irrational, hence requiring a strong authority to control their impulses, direct their endeavors, and maintain order (Etzioni, 1988).
ETHICS IN MODERN ECONOMIC THOUGHT AND THEIR CONSEQUENCES FOR ENVIRONMENTAL CONSERVATION, LAND AND RESOURCE‐USE
Authors: Hohl A.E. , Tisdell C.A.
Published: February 2008

During the very short period of cultural evolution of mankind, the world has changed dramatically. Modern humans have modified the environment not only to satisfy their needs, but also to please their greed. The forces that are united to destroy the last wildlands for short‐term economic benefits seem to be overwhelming. However, at least in some developed countries, values, preferences and political majorities have been changing over the last two decades in favour of alternative approaches. A new multiplicity of goals has sprung up, and it will not be an easy task to reconcile the diverging interests. What makes it even more difficult is that the means, by which the different goals are to be achieved, are barely known. The scientists, whose task might be to provide tools of measurement to enable political decision‐makers to set priorities, are facing serious methodological problems. Economists have not yet found practical and acceptable ways of valuing all commodities, biologists have not yet come up with proven environmental safety standards and sociologists and philosophers are far from providing a satisfactory method of integrating environmental values into the ‘social contract’.
THE CHALLENGE OF INVESTMENT IN SOCIAL VALUES: AN ETHICO‐ECONOMIC ANALYSIS OF A POLICY PROPOSAL TO PROMOTE WELFARE EMPLOYMENT THROUGH THE TENDERING PROCESS
Authors: Melchin Kenneth R.
Published: February 2008

With the events leading up to the election of the Harris Conservative government in Canada's province of Ontario in June of 1995, the debate over “workfare vs. welfare” began to heat up. Ontario traditionally has been Canada's wealthiest province and has developed generous social programmes for her own citizens. As well, over the years, the nation has counted on Ontario's wealth to provide considerable funding for the transfer payments which have supported Canada's poorer provinces. However, in recent years, Ontario has been experiencing a serious economic recession. The effects have been to dramatically increase the provincial government's debt load and to place a burden of taxation on businesses and consumers to pay the interest on this debt, while sustaining the costly social safety net. Many citizens of Ontario have come to regard this debt load as a major obstacle to economic recovery and have targeted social programmes as the focus for serious budget cuts.
QUOTA SYSTEM OF EMPLOYMENT IN STRATEGIC ORGANISATIONS IN NIGERIA
Authors: Johnnie Palmer B.
Published: February 2008

There have been widespread speculations by observers, management practitioners and scholars that there has been a vandalisation of humanitarian rationalism in strategic organisations. By vandalisation of humanitarian rationalism, we mean the absolute and wanton disregard and abuse of established rules and regulations by the managers of Strategic Organisations and the control environment. The control environment (government) after establishing the necessary framework for the management of Strategic Organisations, most of the times, turns around to flout the same rules and regulations it had made to regulate social relations at work. This is done sometimes through irregular employment of staff, and at other times through unnecessary political interference from political office holders. This makes the whole idea of Quota System (QS) as an instrument of employment questionable. Quota System of employment sometimes serve as cynosure for the recruitment of unqualified persons from certain parts of the country. The incompetence of these individuals, to a large extent has led to the inability of Strategic Organisations to accomplish their mission. Strategic Organisations can be described as those organisations established by government to develop the necessary framework for socio‐ economic development in all sectors of the Nigerian economy. Khandwalla's (1986) definition of strategic organisations is that, they are:
ARTIFICIAL RADIOACTIVE NUCLIIDES IN MARINE ENVIRONMENT: DETRIMENTAL TO LIFE
Authors: Idrees Ali Mohammad , Shahadat Hossain M. , Jashimuddin M.
Published: February 2008

The object of this paper is to know what are the artificial radioactive nucliides in marine environment, where and what are the sources of their products, what are their effects to the health of marine and land populations. With this view in mind we shall discuss the large‐scale production of man‐made artificial nucliides that have been poured into the oceans since about the middle of the present century. The first significant release of radioactive nucliides to the marine environment began in late 1944 in USA with the discharge of effluent from her reactors at Hanford Atomic Plant to the North East Pacific Ocean via Columbia River. In the following year, July 1945, an atom bomb was tested successfully and the detonation of two more tests of atom bombs at Bikini Atoll (Pritchard et al, 1971; Seymour, 1971) introduced enough amount of radioactive nucliides into the North Equatorial Current System of the Pacific Ocean.
DIVERGENT DEVELOPMENT: THE PURSUIT OF LIBERTY, EQUALITY, AND GROWTH IN ARGENTINA AND THE REPUBLIC OF KOREA
Authors: Alschuler Lawrence R.
Published: February 2008

Divergence in the development of East Asian and Latin American NICs is catching the attention of a growing number of political economists. This divergent development has sparked debates over THEORY between advocates of neo‐liberal and neo‐dependency approaches (Biersteker; Stallings: 370) in accounting for the regional divergence: does the East Asian success confirm modernization theory (neo‐liberalism) generally, or does each region require its own theory? (see Barrett and Whyte on Taiwan; Alschuler: chap. 4 and Lanzarotti: chap. 5 on Korea; Evans, 1987). East Asian “miracles” have led to equally bitter controversies over PRACTICE with regard to policy recommendations for third world nations: is the East Asian model exportable and is this desirable? (see Amsden; Fishlow; Broad and Cavanagh).
EQUITY VERSUS GROWTH: THE MALAYSIAN EXPERIENCE OF THE ISLAMIC FINANCIAL SYSTEM UNDER THE DUAL SYSTEMS
Authors: Syukri Salleh Muhammad , Fatah Che Hamat Abdul
Published: February 2008

In the opening speech at the International Islamic Capital Market Conference held in Kuala Lumpur recently, the Deputy Prime Minister Dato Seri Anwar Ibrahim (1996: 5), referring to the role of the capital market, advocates an “economic growth with distributive justice, profitability with social responsibility, prudent management and transparency in dealings”. He believes that these are the prerequisites of a healthy and sustainable economy.
THE POOR PEOPLE'S PERCEPTION OF POVERTY AND ITS IMPLICATION ON THE REALIZATION OF ISLAMIC DEVELOPMENT IN KELANTAN, MALAYSIA
Authors: Syukri Salleh Muhammad , Osman
Published: February 2008

This paper investigates the interrelationship between the poor people's perception of poverty and its implication on Islamic development strategy based on a research in Kelantan, Malaysia. The findings of the survey reveal that there are three dominant perceptions of the poor individuals (respondents) in the study: perceptions toward poverty; perceptions toward the implementation of Zakat; and perceptions toward the local rich. Given the nature of the respondents who are homogeneously poor, this paper will address the implications of the above mentioned perceptions on Islamic development strategy, particularly in Kelantan supposedly the only Islamic state in the Federation of Malaysia, ruled by Pan‐Malaysian Islamic Party (PAS). This paper concludes that imposing an Islamic development strategy will become an almost impossible task in Kelantan considering the existence of the following situations: 1) the ‘top‐down approach’ to Islamic development adopted by Kelantan government itself is not effective enough to be realized, and 2) there is no ‘rigorous’ effort to disseminate information and Islamic values to the general population leading to a true practice of Islam.
INTERGENERATIONAL REDISTRIBUTION UNDER SOCIAL SECURITY
Authors: Harris William T.
Published: February 2008

Most public finance analysts recognized the significant redistributive aspects of our current social security system — intragenerational and intergenerational transfers. The intragenerational redistribution is fairly straightforward and well documented. Even though the intergenerational transfers are easily understood and generally agreed upon, the magnitudes of these transfers are not so well reported. The purpose of this paper is to estimate the size of the intergenerational redistribution that has occurred and will continue to occur as a result of our pay‐as‐you‐go system of social security. Based upon average earnings, tax rates, and benefits received under social security, it is possible to estimate the relationship between taxes paid and benefits received for representative individuals who have worked and retired under social security. The preliminary analysis suggests that the usual conclusion about intergenerational redistribution is fundamentally correct, but needs modifying. This research shows that although the earliest retirees received the highest internal rates of return, in terms of real benefits in excess of taxes paid, those individuals who retired between 1970 and 1980 received the largest inflation adjusted transfers. Further, according to the analysis, social security has paid retirees in the aggregate more than $4.5 trillion dollars in benefits above what the recipients have paid in taxes. By the year 2020, when retirees are expected to receive in benefits the amount paid in taxes, this cumulative excess is projected to be about $9.2 trillion.
MR. MARX AND THE CLASSICS: A SUGGESTIVE INTERPRETATION
Authors: Ghosh B.N.
Published: February 2008

Political economy belongs to that borderland of economics which opens on political science. It provides economic interpretations of political phenomena, and political interpretations of economic phenomena. Political economy studies social phenomena through their relational perspectives. Since all social phenomena and epiphenomena are manifestations of political and economic entities and their interactions, political economy can be conceived of as the study of interactive, discursive and integrative processes.