Aurophobia: or,free banking on what standard?

Murray N. Rothbard is S. J. Hall distinguished professor of economics at the University of Nevada, Las Vegas and editor of theReview of Austrian Economics.     

The organizational politics of information technology: Studies from the UK financial servies industry

The article critically appraises two recent contributions to studies of organizational change: processual analysis and the firm-in-sector perspective. These studies argue that managerial practice is intensely political. They also attempt to firmly locate that practice in its organizational and environmental or sectoral context. Drawing upon these studies the article examines the management of information technology (IT) in the UK life insurance sector. This examination uses a case study and sectoral research-in-progress. The article argues that organizational IT use and development is a politicla and social process characterized by tension and conflict between managers. This conclusion suggests that organizational studies of IT use need to develop more sophisticated theories of management and managerial practice. By so doing they may then be able to shed a more penetrating light on the relationships between managers, technologies and organizational change.     

Research notes and communications sources of competitive data for the management strategist

Timely use of print and electronic information on corporate and industry performance requires knowing where to look, what to expect, and what the limitations of the data are. This article summarizes the most generally available, low-cost sources of information on suppliers, resellers, and competitors. Particular attention is paid to sources providing the business strategist with insight into actual and potential sources of competitive advantage.     

Patronage Allocation, Growth and Member Weil-Being in Co-operatives

Capital formation in co-operatives has received a great deal of attention in recent years. Among the questions being raised are whether co-operatives have an adequate equity base and whether members are receiving sufficient benefits to encourage them to patronize the co-operative. The purpose of this paper is to describe the financial relationships that exist between the members of a co-operative and the co-operative itself. The paper also links the method of patronage allocation used in a co-operative to the growth of the co-operative and the well-being of the members. Three of the most commonly used patronage methods are evaluated for their efficacy in this area. It is shown that the percentage equities redemption plan is able to generate rates of growth that are comparable with those generated by the revolving fund, while at the same time providing members with greater returns to their patronage. The paper also examines the impact of different rates of return, alternative membership levels, a change to a cash-based taxation plan, and alternative membership growth patterns on member well-being and the financial health of the co-operative. La formation du capital dans les coopératives a reçu beaucoup d'attention ces dernières années. Parmi les questions soulevées figurent celles qui consistent à savoir si les coopératives ont un avoir des sociétaires suffisant et si les membres reçoivent des avantages de nature à les inciter à le demeurer. Le présent article a pour but de décrire les rapports financiers qui existent entre les membres d'une coopérative et la coopérative comme telle. II relie également la méthode de paiements versées aux sociétaires (ristournes) utilisée dans une coopérative à la croissance de celle-ci et au bien-être des membres. Trois des méthodes les plus couramment utilisées sont évaluées plus leur efficacité dans ce domaine. L'article démontre que le régime de rachat d'un pourcentage de tous les avoirs peut produire des taux de croissance comparables à ceux engendrés par le fonds renouvelable tout en offrant aux membres un meilleur rendement pour récompenser leur fidélité. L'article examine également les répercussions de divers taux de rendement, d'autres niveaux d'adhésion, de l'adoption d'un régime d'imposition basé sur la trésorerie et d'autres modes de croissance de la participation sur le bien-être des membres et la santé financière de la coopérative.     

The impact of services versus goods on consumers’ assessment of perceived risk and variability

With the development of service marketing concepts comes the need to test theory against consumer behavior. This study examines differences in perceived risk and variability between services and goods. In a controlled experiment whereby product stimuli were objectively placed along a goods-services continuum, data from consumers was collected focusing on six types of perceived risk and product variability. The findings of the study provide evidence that services evoke heightened risk and product variability perceptions.