Book Reviews

Indonesia: The Transmigration Program in Perspective, Washington, D.C.: World Bank, 1988, pp. 227 + xlii. Paper: US$17.00.

William Segers, Changing Economy in Indonesia, Vol. 8, Manufacturing Industry 1870–1942, Amsterdam: Royal Tropical Institute, 1988, pp. 224. Dfl. 48.00.

Leslie Castle and Christopher Findlay (Eds), Pacific Trade in Services, Allen and Unwin, Sydney, 1988, pp. 294 + Xiv. Paper: 24.95; Cloth: $39.95.     

Interactions Between Property and Equity Markets: An Investigation of Linkages in the United Kingdom 1972–1992

Two strands of real estate research—that concerned with the relationships between securitized real estate and the underlying market and that dealing with the role of property in the wider economy—rarely are considered together. The paper utilizes the U.K. equity market and property company share data to explore the relationships between real estate and the rest of the economy, using a two-sector analytic model. Causality analysis suggests that the wider economy leads the real estate market in the short term but that, with a longer lag structure, positive real estate returns may point to negative future returns in the rest of the economy. This provides weak confirmatory evidence for theories of capital switching between sectors.     

Replication and reality: or,the future of sociology

This article has been written to raise some questions about the practice of sociology in the past in order to be clearer about sociological practice in the future. Its object is to encourage some reflection on what sociologists do in order that sociology may have a securer future. More specifically the author is concerned with the theoretical implications of some of the methodological assumptions that sociologists make, and with the need for a better epistemological base for sociology as a predicting science.     

The Australian insolvency regime revisited: a precis of the next leap forward

Australian corporate insolvency laws contained within Chapter 5 of the Corporations Act are currently being reviewed with respect to four principal areas identified by Australian Government Treasury. The four themes of review include employee ‘benefit’ enhancements; seeking to deter misconduct of company officers; rules around insolvency practitioner disclosure with respect to their remuneration and related independence issues; and some minor proposed changes to the voluntary administration procedure, widely regarded as requiring only minor adjustment. At this time, the draft legislation is not available for general release and is being discussed within the Australian Government appointed Insolvency Law Advisory Group. The next steps are public comment for review of draft legislation and then operation of the legislative change. These are expected to occur in 2007. This paper seeks to outline the likely issues associated with the expected reforms of the Australian insolvency regime. Copyright © 2006 John Wiley & Sons, Ltd.     

Environmental and health benefits of hunting lifestyles and diets for the Innu of Labrador

The Innu of northern Labrador, Canada have undergone profound transitions in recent decades with important implications for conservation, food and health policy. The change from permanent nomadic hunting, gathering and trapping in ‘the country’ (nutshimit) to sedentary village life (known as ‘sedentarisation’) has been associated with a marked decline in physical and mental health. The overarching response of the national government has been to emphasize village-based and institutional solutions. We show that changing the balance back to country-based activities would address both the primary causes of the crisis and improve the health and well-being of the Innu. Drawing on ethnographic fieldwork, interviews with Innu older people (Tshenut), empirical data on nutrition and activity, and comparative data from the experiences of other indigenous peoples, we identify pertinent biological and environmental transitions of significance to the current plight of the Innu. We show that nutrition and physical activity transitions have had major negative impacts on individual and community health. However, hunting and its associated social and cultural forms is still a viable option as part of a mixed livelihood and economy in the environmentally significant boreal forests and tundra of northern Labrador. Cultural continuity through Innu hunting activities is a means to decelerate, and possibly reverse, their decline. We suggest four new policy areas to help restore country-based activities: (i) a food policy for country food; (ii) an outpost programme; (iii) ecotourism; and (iv) an amended school calendar. Finally, we indicate the implications of our analysis for people in other countries.     

Book Reviews

Francois Ruf and P.S. Siswoputantro (eds), Cocoa Cycles: The Economics of Cocoa Supply, Woodhead Publishing, Ltd, Cambridge UK, 1995, pp. xi + 384.

Rainer Rohdewohld, Public Administration in Indonesia, MONTECH (Monash University), Melbourne, 1995, pp. 179 + x, npg.

Colin Brown (ed.), Indonesia: Dealing with a Neighbour, Allen & Unwin, Sydney, 1996, pp. xiii + 202.

Thomas P. Tomich, Peter Kilby and Bruce F. Johnston, Transforming Agrarian Economies: Opportunities Seized, Opportunities Missed, Cornell University Press, Ithaca and London, 1995, pp. xx + 474, Paper.

T, van Rheenen, Quantifying Farming Systems: A Multiple Optimization Approach: A Case Study in the Limestone Area of East Java, Mansholt Studies 6, Wageningen Agricultural University, Wageningen, 1996, pp ix + 145, Paper.     

Industry structure and the choice of product reliability

Epple and Raviv (1979) and Saving (1982) argued that product reliability may be independent of market structure. Using a two period oligopoly model we show that this conclusion is correct only if the firms are risk-neutral and output is rented. If either of these conditions is violated, the firm's reliability will not be socially optimal. Our results provide further rationale for Avinger's (1981) empirical findings on product obsolescence in the vacuum tube and electric lamp industries. We do find, however, that the independence result can be reestablished in sales markets if firms are required to provide warranties.     

The costs of reducing deforestation in Indonesia

In this second contribution to the Policy Dialogue, Colin Hunt emphasises the large contribution that oil palm plantations and the pulp and paper industry have been making to Indonesia's economic growth in recent years, notwithstanding the environmental consequences of such activities. The implication is that avoided deforestation can be expected to have a significant negative impact on segments of the population who would benefit from the business and employment opportunities that would otherwise be generated, directly or indirectly. Palm oil companies typically spend about three dollars on goods, services and labour for every dollar of profit. The author argues that any compensation package for avoided deforestation needs to include all the potential beneficiaries of palm oil production, not just the palm oil companies, and to generate economic activity similar to that being replaced. (Ed.)     

Romanticism,Introspection and Consumption: A Response to Professor Holbrook

This paper is concerned to challenge representational discourses which profess to identify the existence of a distinct and objectively identifiable “women's market” for financial services. Aided by an array of postmodern deconstructive techniques this paper reveals the discourse of a “women's market” as productive of, as well as constituted by, a particular form of modern society, one dominated by mass consumption to individualised subjects desperate for a sense of collective meaning and identity both as distinctive and embedded in a recognisable culture.