Advertising by Medical Professionals—A Healthy Outlook

The opening up of the professions to advertising does not yet include the medical profession, and the author argues that this exclusion is unwarranted. Far from being against the public interest, he suggests that patients are not only capable of using more information, but that improvements in medical practice will flow from this. The experience of the legal—and other professions—following the relaxation of advertising rules is discussed together with the problems arising. The conclusion is that advertising by the medical profession is worth at least a trial and that liberty to advertise be extended to consultants and hospitals.     

VOLUNTARY DISCLOSURE OF SEGMENT INFORMATION: FURTHER AUSTRALIAN EVIDENCE

This study provides further empirical evidence on incentives for Australian firms to voluntarily report segment information. Various economic reasons why firms may elect to present segment information have been hypothesised in previous research. Bradbury [1992] and McKinnon and Dalimunthe [1993] found firm size, minority interest and industry membership as significant identifiable characteristics motivating voluntary segmental disclosure. Variables found to be insignificant in Bradbury [1992] which were not examined by McKinnon and Dalimunthe [1993] are tested in this paper. Hypotheses relating to size, financial leverage, assets-in-place, earnings volatility, ownership diffusion, outside equity (minority) interest, overseas association as well as diverse and mining and oil classification hypotheses are empirically examined. Univariate tests and multivariate logit analysis suggest that for a extensive sample of diversified firms, voluntary segment disclosure is significantly related to size, leverage and involvement in mining or oil activities.     

Bottom Marx

Much of the economic analysis published in recent years has been Marxist in flavour. The publication of a dictionary of Marxist thought offers a guide to its various schools. Chris Tame dissects the contrasting interpretations of its numerous contributors.     

MEASURING POVERTY – WHAT HAPPENED TO COPENHAGEN?

Absolute poverty can be thought of as a condition of 'insufficiency', i.e. the inability to acquire the basic necessities of life. Relative poverty can be thought of as a condition of 'inequality'. At the World Summit on Social Development in Copenhagen in 1995, all participants made a commitment to produce official measures of both absolute and relative poverty and to strive to eradicate absolute poverty within a reasonable time frame. Despite these commitments, measures of absolute poverty are rare in the developed world. This paper concludes that both kinds of measures are needed for intelligent discussions and good policy-making.