The determinants of income in a Malthusian equilibrium

This study constructs a simple, two-sector Malthusian model with agriculture and industry, and uses it to identify the determinants of income in a Malthusian equilibrium. We make standard assumptions about preferences and technologies, but in contrast to existing studies we assume that children and other consumption goods are gross substitutes. Consistent with the conventional Malthusian model, the present theory shows that productivity growth in agriculture has no effect on equilibrium income. More importantly, we also show that equilibrium income varies, not just with the death rate as has recently been demonstrated in the literature, but also with the level of productivity in the industrial sector. An empirical analysis using data for pre-industrial England lends support to both hypotheses.     

Are Women Held to a Higher Moral Standard Than Men? Gender Bias Among University Students

This study examines gender bias in ethical decision-making, defined as a difference in the evaluation of the morality of an action depending on the gender of the person performing the action. Results indicate that college student respondents exhibited some degree of gender bias, and that it was especially noticeable among the male respondents. Bias was somewhat more pronounced among liberal arts majors than other business majors, and non- existent among accounting majors. Implications for early-career professional training and business ethics research are discussed.     

Economic Integration and Convergence of Per Capita Income in West Africa

Economic co‐operation at the regional and sub‐regional level has been an important feature of the economic development policies of developing countries. The Economic Community of West African States (ECOWAS) was established in 1975 with a view, inter alia, to promote economic co‐operation and integration in West Africa. This paper tests for β and σ convergence for a group of low‐income countries in Africa where studies of this nature is sparse. Both cross sectional and time series approach is used to investigate convergence. The results show that ECOWAS countries form a convergence club, that is, the tendency for per capita income to convergence and a diminution of the standard deviation of per capita income over time. La coopération économique aux niveaux régional et sous‐régional constitue un élément important des politiques de développement économique adoptées par les pays en développement. La Communautééconomique des États d’Afrique de l’Ouest (CEDEAO) a été créée en 1975 pour, entre autres, promouvoir la coopération et l’intégration économique en Afrique de l’Ouest. Le présent article examine la convergence β et σ pour un certain nombre de pays africains á faible revenu oú les études de ce type sont peu nombreuses. Basant son examen de la convergence sur une approche á la fois transsectorielle et chronologique, l’article conclut que les pays de la CEDEAO forment un club de convergence, c’est á dire que le revenu par habitant manifeste une tendance á la convergence et enregistre une diminution de l’écart‐type au fil du temps.     

The challenge of long-term structural change

In the next 15 years, provided that aggressive rearmament is avoided, the world economy is likely to grow relatively slowly and erratically, constrained by the availability of oil. Besides energy, two other factors are challenging the established economic order—Third world industrialisation and new technologies. The author argues that the only way for a developed economy, particularly the UK, successfully to meet all three challenges is by adopting these new technologies as quickly as possible: to yield to protectionist pressures would be self-defeating since growing Third world markets will be essential to the growth of the developed world. The policy dilemma is that slow growth and rising unemployment exacerbate the rigidities of the system and slow down adjustment at a time when the need for change is at its greatest.     

A microbiological survey of communal kitchens used by undergraduate students

The majority of food poisoning cases occur in the domestic environment as a result of inadequate hygiene practices. The possibility of food safety errors may be increased in domestic kitchens that are shared. However, there is very little information concerning the hygiene of these kitchens. This study investigates the microbial load of key sites in six student communal kitchens. In addition, hygiene was evaluated visually and questionnaires were used to assess the hygiene practices of the kitchen users. Results show that visual hygiene assessments are not a good indicator of microbial contamination, which, in this study, reveal poor levels of hygiene. Food safety errors were commonly made by users of the kitchens and their food hygiene practices suggest limited food safety knowledge and/or an absence of feelings of responsibility for the hygiene standard of the kitchen.     

Figuratively speaking: analogies in the accounting classroom

One of the foundational subjects comprising most Master of Business Administration (MBA) programs is an introductory accounting course, in which students are exposed to the study of financial and management accounting at a basic level. For many students accounting is arguably the most feared subject in the MBA program. Although some students embrace the challenge and opportunity to develop an appreciation of accounting, the part it plays in organisations, and its role in management decision-making, for others the prospect of entering the world of accounting is one fraught with apprehension. Frequently described as ‘the language of business’, for students with limited experience or prior instruction in accounting, engaging with this language is formidable, and the demystification of the accounting lexicon represents a major challenge to accounting educators. This paper advocates the use of analogies, metaphors, and similes in helping MBA students understand accounting principles and engage with the conceptual underpinnings of the discipline.     

Optimal Sovereign Debt for an Overdebted Country

In this study, the role of debt maturity is analysed in a framework that blends a number of key macro‐economic factors with a process of estimating an optimal debt maturity maximising net present value. The purpose is to reduce the real value of government liabilities for a highly indebted country, as for example in the case of Greece, over a 35‐year period. The conclusion that emerges is that management of debt maturity is an essential component of the equilibrium policy and, as such, it can play an important role both in implementing tax smoothing programmes and in reducing costs associated with debt financing.