Selling Stocks To the Masses

Afterthe1929stockmarketcrash,mistrustoffinancialmarketssoared.Millionsofordinaryinvestorshadlosttheirjobs,fortunes,orboth.Butastheirdreamsturnedtodust,CharlesE.Merrillwasjuststartingtopursuehis.Overthenextdecadeheburnishedarevolutionaryidea:BringWallStree…     

Strive To Foster Intelligence-Oriented Development Zones

Now that China has become a full member of the World Trade Organization (WTO), China's economic and technological development zones, which are chosen to experiment with the implementation of China's reform and opening policy, need to find solutions to a range of new questions. In what direction should the zones develop? How to sharpen the competitive edge of the zones so that they will play an even more effective role in promoting the development of the local economies? To these questions, my answer is one of accelerating technological innovations to     

This Race Is Starting To Get Exciting

ForshopperswhowearouttheirsolespoundingthecobblestonesofBeijing’sbusyWangfujingStreetinsearchofbargains,there'snoshort-ageofoptionsforgettingreshod.AcartoonimageoftheBraziliansoccerstarRonaldinhopeersoutfrompostersinthewindowsofthetwo-storyNikeInc.store,whilenear-byanotherbigNikeshopdominatesthegroundflooroftheSunDongAnDepartmentStore.Justdownthestreet,storesofthehomegrownchampionLi-Ningfaceeachotheracrossthecrowdedpedestrianmall,bothemblazonedwiththecompanyslogan,“AnythingisPossible”…     

Of Markets And Martyrs: Is It OK To Pay Well For Care?

If caring work were well paid, would it lose some of the special, emotional, interpersonal aspects we want in "real" care relationships? Some fear that the introduction of "market values" would lead to such an outcome. This article seeks to bring to light some logical fallacies and insufficiently expunged gender dualisms that may lie, unexamined, under such concerns. Examining the ways we think and talk about markets, meanings, and motivations, it argues that the foci of feminist concern should instead be the concrete structures of caregiving and the problem of under-demand.     

Public Pensions: To What Extent Do They Account for Swedish Wealth Inequality?

Sweden's distribution of disposable income is very even, with a Gini coefficient of just 0.31. Yet its wealth distribution is extremely unequal, with a Gini coefficient of 0.79. Moreover, Swedish wealth inequality is, to a large extent, driven by the large fraction of households with zero or negative wealth. In this paper, we investigate to what extent the redistributive public pension scheme is responsible for these features of the data. To address this problem, we study the properties of two overlapping generations economies with uninsurable idiosyncratic risk. The first has a pension system modeled on the actual system; the second has no public pension scheme at all. Our findings support the view that the public pension scheme is, to a large extent, responsible for the features of the data that we focus on. Journal of Economic Literature Classification Numbers: E13, D31, H55.     

Tackling Keynes’ question: a look back on 15 years of Learning To Consume

Two centuries of continuous economic growth since the industrial revolution have fundamentally transformed consumer lifestyles. Here Keynes raised an important question: will consumption always continue to expand in the same manner as it has in the previous two centuries? If so, how? This paper critically reviews a body of work that has adopted the Learning To Consume (LTC) approach to study the long run growth of consumption (Witt 2001). By borrowing certain established insights from psychology and biology about how consumers learn and what motivates them to consume, it highlights how rising income, new technologies and market competition have combined to trigger important changes in both the underlying set of needs possessed by consumers and how they learn to satisfy these needs. Methodological issues and open questions are discussed.     

To market,to market: imperial capitalism’s destruction of social capital and the family

The market, far from being the sine qua non for modern society in general, and the family in particular, has eroded the social fiber that gives shape and resilience to the experiences of individuals, families, and ultimately, the market itself. Reviewing both historical and feminist analysis of the family in a capitalist market society, it is clear that the modern market is imperial. Not only does it transform every human interaction into a transient market exchange, it undermines the basis for social reproduction through the family. Using the concept of social capital as a primary analytical tool, this paper argues that the distinction between home and market labor has been unnecessarily polarized, limiting policy options. Thus, society’s ability to produce and maintain long-standing social networks is put at risk, paradoxically reducing the market’s ability to perform efficiently.JEL Categories: D10; J22; J16     

To settle or protect? A global analysis of net primary production in parks and urban areas

We test—at the global scale—the hypothesis that human beings tend to build settlements in areas of high biological productivity, and protect (as parks) areas of low productivity. Furthermore, we propose an alternative measure of the extent and effectiveness of the global protected areas network based on potential net primary production (NPP₀). The average NPP₀ in urban areas and parks is calculated and compared to the average NPP₀ of the geopolitical regions and biomes containing these areas. Additionally, human appropriation of net primary production (HANPP) in parks is used as an indicator of the effectiveness of these protected areas. We find that in almost all regions of the world, humans have chosen to settle in the most productive areas. At the global scale, urban areas have considerably higher NPP₀ (592 g Cm^− 2 yr^− 1) than the global average (494 g Cm^− 2 yr^− 1), while parks have roughly average NPP₀ (490 g Cm^− 2 yr^− 1). Parks with an IUCN category of I-VI account for 9.5% of the planet's terrestrial NPP₀, compared to 9.6% of its terrestrial area. Although protected area and protected NPP₀ are nearly equal, this equivalence is diminished by HANPP within parks. Globally, the average HANPP in all protected areas is 14% of their NPP₀, and HANPP within parks increases as the park management category becomes less restrictive. Moreover, we find a positive correlation between HANPP in parks and the extent of urbanization in the surrounding region and biome. Area-based targets for conservation provide no information on either the quality of the areas we choose to protect, or the effectiveness of that protection. We conclude that NPP₀ and HANPP may provide an additional, useful tool for assessing the extent and effectiveness of the global protected areas network.     

Table of Imp & Exp Volume In Period from Jan To May in 2002 for China’s Major Development Zones As Origins and Destinations(In order of Growth Rates over Same 2001 Period)

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Table of Import and Export Volume In Period from January To May in 2002 for Provinces,Municipalities and Autonomous Regions in China As Origins and Destinations(In order of Growth Rates over Same 2001 Period)

11 Sichuan 637,D40 91,292,556,332 90 523 31.0Table of Import and Export Volume In Period from January To May in 2002 for Provinces,Municipalities and Autonomous Regions in China As Origins and Destinations(In order of Growth Rates over Same 2001 Period)…     

Table of Imp & Exp Volume In Period from Jan To August in 2002 for China''''s Major Development Zones As Origins and Destinations(In order of Growth Rates over Same 2001 Period)(Unit:US$’000)

Note:ETDZ,BA,HIDZ,IP,liP,STP and SEZ stand for economic and technological development zone,bonded area,high—tech industrialdevelopment zone,new technologies development zone,industrial park,international industrial park and special economic zone,respectively.Table of Imp & Exp Volume In Period from Jan To August in 2002 for China's Major Development Zones As Origins and Destinations(In order of Growth Rates over Same 2001 Period)(Unit:US$’000)…