Capturing the voice of older consumers in relation to financial products and services

The purpose of this pilot study was to focus on the suitability of selected financial products for older people. Bank accounts and equity release products were selected for this study by an expert advisory panel. New marketing initiatives are being used to promote bank accounts, including forms of insurance, for the ‘50+’ market. Also, older people are now expected to provide for their retirement and it is anticipated that equity release will be one product which may be used to fund and maintain consumer lifestyles. In the first phase of the study, a questionnaire was distributed to 152 people aged over 50 years in Scotland. Eighty‐three were completed, a response rate of 55%. The results informed the development of questions for the second phase which were discussed with 46 participants via the World Café in June 2008, enabling a deeper insight into their opinions. The research found that consumers had lost trust in financial product and service providers because of the perceived excessive profits of banks and lack of customer service. Further, many products and services were prohibited for or incurred extra costs to those aged over 60 or 65 years, leaving limited choices, and equity release products were seen as a last resort for those in financial difficulty. Although the profitability of banks has changed dramatically since the completion of data collection, the issues identified by older consumers in Scotland will be of international interest. The demographic changes resulting in an increasing proportion of elderly people in the population are reflected throughout the UK and many Organisation for Economic Co‐operation and Development countries. Similar financial products and services, which were the focus of this study, are promoted internationally, offering opportunities to replicate the research methods.     

Food risk communication: Some of the problems and issues faced by communicators on the Island of Ireland (IOI)

In this paper we consider the findings of a number of interlinked pieces of research, both qualitative and quantitative, that have investigated aspects of food risk communication on the island of Ireland. These findings are set in the context of international risk communication research. The findings are examined using the three basic elements of a simple communications framework: the message sender; the channel through which the message is communicated and the receiver of the message. The barriers to effective communication are examined and special reference is made to the barriers affecting the communication of domestic food safety risk. Barriers identified include personal, infrastructural and message related factors, such as lack of interest, lack of appropriate facilities and conflicting messages. Based on an evaluation of the views of the scientific community and the public, we make suggestions on how future food safety communications could be tackled to better address the identified barriers. Both suggested long and short term policies are considered in the context of a heterogeneous public and scientific community. Short term suggestions provide an opportunity to address the challenges faced by those who are currently exposing themselves to a high level of domestic food safety risk. The long term suggestions reflect on the underlying barriers impacting on public domestic food safety practices.     

Presidential Agenda Building and Policymaking: Examining Linkages Across Three Levels

To investigate the role of strategic political communication in governing, this study comprehensively examined presidential agenda-building associations at three levels during the first six months of U.S. president Barack Obama’s second term. Multiple presidential information subsidies, national news content, and policymaking activity were monitored. The results revealed solid support for all three levels of agenda-building (i.e., object salience, attribute salience, and network associations among objects or attributes), but the linkages with media coverage and policymaking were not uniform across information subsidy types. Based on the analysis, presidential news releases, blog posts, and presidential speeches were the most effective all-around strategic agenda-building tools for media management and policymaking purposes during this time period. The theoretical and practical implications are discussed.     

The food crisis and environmental conservation in Africa

In spite of good rains in Africa in 1985, 30-35 million people suffered the effects of famine. Much of Africa is still dependent on food aid. The main causes of insufficient food production are land degradation--desertification--and high population growth. Distribution of the US $2.9 billion in food and non-food aid has been hampered by transport and logistical problems. The major challenge for 1986 is non-food support. Only US $460 million (15.3%) of non-food aid had been received as of March. Country profiles of Angola, Chad, Ethiopia, Mozambique, Somalia, Sudan, Lesotho, Mali, Mauritania, Niger, Rwanda, Tanzania, and Zambia show a pattern of high food assistance needs and displaced refugee populations. The 1st 6 of the group suffer from civil strife. There is some good news; e.g. Niger, which is embarking on agressive agricultural development, and Tanzania, which has enjoyed bumper crops, but the crisis is clearly far from over. Few African Governments have been willing to face the population problem; population in the area will probably continue to increase at 3% yearly. It is shown that desertification: reducing the biological potential of the land through over-exploitation, animal husbandry, and deforestation, is a wordwide problem particularly acute in Africa. Lost production totals $26 billion annually. Straightforward cost-benefit analysis of projects to halt or reverse the problem does not adequately take factors such as human attachment to the land into account. Unfortunately halting desertification does not receive the attention it should receive from donor agencies. Investment goes towards high-return projects, e.g. power dams; sugar factories, when a more careful study reveals that returns from afforestations are much more long-term. There has been increased consciousness of the long-term benefits of dryland rehabilitation, which will hopefully impact policy in the future. But since desertification is a self-accelerating process, there is a need for very rapid action.     

Some Inflationary Aspects of Distributive Conflict:Reassessing Canadian Inflation,Part I

This is the first installment of a two-part article, in which we explore the empirical validity of the post-Keynesian “conflict inflation” theory for Canada. By documenting the numerous points of contact between Canadian inflation, on one hand, and institutional power and distributive conflict, on the other, we argue that inflation may be validly understood as a power process insofar as it feeds on social conflict and is systematically associated with the redistribution of income between different income groups. Over the past century, Canadian inflation has tended to redistribute income from capital to labor, from large to small firms, and from the upper to the lower income brackets. Given these facts, Canadian inflation must be understood as a political phenomenon.     

The Politics of Canadian Monetary Policy: Reassessing Canadian Inflation,Part II

This is the second installment of a two-part article on Canadian inflation. This article builds on the traditional conflict theory of inflation by applying insights from the post-Keynesian and micro-politics theories of money and central bank policy. It argues that the Bank of Canada’s inflation targets — not just inflation itself — have to be understood in terms of social conflict and power. This analysis extends the evidence on the distributive implications of Canadian inflation offered in Part I.     

James Buchanan's public economics: One proposition,two speculations and three queries

The text of this paper is substantially that presented to participants at the Buchanan-at-seventy conference. I have not attempted to recast the discussion along more conventional journal lines, because it has been decided to publish the conference papers in this supplementary volume in their original form. I have, however, made some modifications in the light of the conference discussion.     

A COMPREHENSIVE EXAMINATION OF VOLUME EFFECTS AND SEASONALITY IN DAILY SECURITY RETURNS

In this study, an integrated model of return seasonality is developed and the hypothesis that seasonality is associated with changes in relative trading volume is examined. Return regularities associated with the turn of the month, the week of the month, and holiday closings are documented. Beyond these effects, neither the turn of the year nor the January effect is significant for large firms. Relative volume is shown to display calendar regularities similar to those in returns, and tests indicate a causal relationship flowing from volume to returns.