A model to project loss of earnings from impaired or destroyed capacity

Conclusions Attempts have been made for many years to place a monetary value on human life. Rather than becoming easier over time, determination of a value has become more difficult, especially within the past 25 years. Accuracy of estimates is reduced because of uncertainties associated with changing economic and social conditions. For example, the importance of the variables used in this analysis has intensified within recent years because of the changing nature of the American economy, coupled with expanding social programs. Particularly important among the variables affecting earnings are occupational alternatives, education, age, productivity, inflation, and interest rates. Despite the restraints noted above, a methodology exists for conceptualizing these factors into a systematic economic approach for estimating and projecting individual earnings. This article has utilized a methodology to relate economic concepts to the problem of establishing a monetary value of lost earnings due to impaired capacity or death. It essentially involved determination of the difference in expected lifetime earnings prior to and after the occurrence of impairment or death and discounting this difference to a present value. The authors wish to express their appreciation to Professor R. Kenneth Manning, Jr., of the Cumberland School of Law of Samford University for his helpful comments and suggestions.     

Worker co-operatives and the promotion of co-operative development in Britain

Worker co-operatives have been the subject of extensive debate in recent years. In this article John Coyne and Nick Wilson place that attention in perspective by outlining the different forms worker co-operatives take. They review recent initiatives to promote cooperative development and discuss the ensuing problems facing the emergent co-operative.     

Research note and communication mergers that last: A predictable pattern?

This paper examines the current ownership of 434 large acquisitions made by publicly traded U.S. firms between 1967 and 1969. It is found that the majority of these acquisitions are still held by the acquiring firms. Unrelated acquisitions were resold at a moderately higher, though not significantly different, rate than related acquisitions. These results are discussed in the context of the commonly held view that unrelated acquisitions of that period were poorly conceived additions.     

Industry costs and consolidation: efficiency gains and mergers in the U.S. railroad industry

Since partial deregulation in 1980, there has been a massive consolidation of firms in the U.S. railroad industry premised largely on efficiency gains. We estimate a cost function and use it to calculate cost effects for specific mergers and for all mergers at the industry level from 1983–2003. Our central results are that consolidation in the railroad industry accounts for about an 11.4 percent reduction in industry costs (more than $4 Billion in 1992 prices), and that while there are tremendous differences across mergers with respect to the direction, level, timing, and source of cost impacts, most mergers result in cost savings.     

Creativity identity in Colombia: the advertising creatives’ perspective

ABSTRACT

This exploratory paper analyses the way in which context influences advertising creativity practices. To establish the role of context, this paper utilized both Social Identity theory and Systems Model of Creativity. Twenty four in-depth interviews with top creative directors of the main advertising agencies in Colombia (Latin America) were collected. Findings suggest the Colombian creative identity is under construction. This identity is influenced by the broader Colombian social context including the unique business characteristics of the country's communications industry, the level of economic hardship experienced by the population, and the actual social conflict lived situation. These findings extend the Systems Model of Creativity to include social hardships and industry level characteristics. Several practical implications not only in relation to Colombia, but also the broader global advertising industry are presented.     

Coping with climate change in Africa: an analysis of local interpretations in Eastern Cape,SA

The emissions of greenhouse gases together with other anthropogenic activities has caused a change in global climatic conditions with corresponding negative effects on agricultural productivity, biodiversity and other socio-economic indices. Studies reveal that the impacts of climate change are felt most severely by the vulnerable, who have fewer adaptive capacities. In Africa, for example, little is known about local narratives on the ‘causes’ of climate change, and how such narratives influence climate change coping and adaptation strategies in specific local settings. Where do the ‘local’ and the ‘global’ intersect in the search for effective coping measures – and do they? Using a qualitative approach, this paper reveals how local conceptions of climate change appear to be rooted in ‘politics’ and spiritual forces. The paper highlights not only the major points of divergence between local interpretations and ‘Western’ conceptions about climate change, but also important areas of convergence between the two ideational domains.