Satanic Mills?: An illustration of Victorian external environmental accounting

The paper evaluates a Victorian environmental account of the pollution of the River Wandle. This account was produced during a period of social and environmental crisis, when there were no significant industrial environmental regulations. This problematising external environmental account provides valuable insights into the historical development of social and environmental accounting. Our analysis located this account within an institutional reform programme to create systems of governance to mitigate the damage arising from unfettered industrial growth. We argue that problematising external environmental accounting has a longer tradition than previously recognised in the literature and predates corporate social and environmental reporting.     

Estimating the costs and benefits of soil conservation in Europe

Economics is about problems of choice. In erosion control, both public authorities and private land users are faced with such problems. What is the impact of erosion, both on-site and off-site, and to what extent can this impact be quantified? If we conceptualize this impact in terms of sustainability, how can we compare one type of effect against another? The former question can be answered only by natural scientists, the latter by economists and other social scientists. Weighing different aspects of sustainability requires value judgments, and economists are sometimes accused of having a jaundiced view of reality, wrongly supposing that decisions are based on rationality and denying the importance of emotion.However, let us assume that there is some mileage to be gained out of attempting to estimate the cost of erosion in an economic sense—which consists of converting the various effects into a common denominator: euros. If we can predict the impact of erosion control measures on erosion rates, we can know the benefit of these measures. The cost also needs to be calculated, not in terms of money but in terms of resources expended (which could have been used for other purposes) and in terms of possible negative impacts of erosion control (for instance, increased use of herbicides in reduced-tillage systems).There are important other considerations which economists may study. Firstly, there is the comparison of present versus future costs and benefits: how much can we sacrifice today for higher sustainability tomorrow?Secondly, there is the issue of private versus public costs and benefits: how do the goals of private land users differ from (those of?) the public good, how can this help us to predict land users’ behaviour, and what incentives would be appropriate to make them behave in such a way as to maximize the public good? Thirdly, how do we deal with uncertainty and risk?These problems loomed large in a study to support an extended impact assessment for the EU Soil Thematic Strategy, in 2005. Whereas much research has been done on erosion and its impact, much of this is on a small scale. The extent of the problem on a national, let alone a continental or a global scale, is still poorly known. The paper discusses how these problems were faced, which is not the same as saying they were resolved.     

Shadow economy and unemployment rate in USA: is there a structural relationship? An empirical analysis

This article aims to estimate the size of the US shadow economy (SE) using a structural equation approach and to evaluate if a structural relationship exists between the SE and the unemployment rate (UR) in the United States. The size of the SE is estimated to be decreasing over the last two decades. We corroborate the existence of a structural relationship between the SE and the UR by using a simple theoretical model. Furthermore, we extend the Okun's law to estimate the structural relationship between growth rate of official GDP, SE and UR. Our results indicate a significant positive relationship between the SE and the UR.     

UK strategy - the momentum of change

In July 1980, the UK government set into motion a programme of reform for telecommunications. The British Telecommunications Act 1981 maintains British Telecom's exclusive privilege but provides for market entry in network transmission, services and attachments. The process continues with a new Telecommunications Bill, currently being considered by Parliament, which will make shares available to the public and allow for the creation of a new Office of Telecommunications (OFTEL). Jonathan Solomon considers the impact of the new legislation on the UK telecommunications environment.     

The future role of international telecommunications institutions

The telecommunications world is being swept by technological and national regulatory changes. The international telecommunication institutions — the ITU, INTELSAT and CEPT — were founded in times when technological trends were more stable and national regulation was more homogeneous. How will they cope with these new changes? In an era of growing heterogeneity, the ITU may need to look increasingly beynd itself to maintain its centrality. Meanwhile, INTELSAT faces challenges from new market entrants and a more flexible approach to new technological and commercial imperatives in satellite and cable services. The EEC is awakening to the need for institutional change within Europe and this is already having an impact on CEPT. It is concluded that to survive and to maintain relevance the existing international institutions will need to initiate changes or face a loss of authority to other institutions such as OECD and EEC.