WICKSELL'S INFLATIONARY CREDIT CYCLE

The credit cycle implicit in Wicksell's upward cumulative process (UCP) is described. UCP may be interpreted as a stable cycle with two phases and an upper turning point corresponding to the maximum 2-rate-differential. The volume of credit and the rate of inflation is shown to expand in phase 1 and to contract in phase 2. The role of velocity increasing in causing a higher inflation rate is also described. This cycle has not been noticed in the literature because Lectures(2) was unclear about how long it would take to reach an upper turning point. But, Interest and Prices emphasized that the continuous return of the inflation rate to zero equilibrium would begin after a relatively short period.     

Turbidity control and fisheries enhancement in a bottomland hardwood backwater system in Louisiana (U.S.A.)

In response to a noticeable decline in recreational fishing in the formerly productive Larto—Saline backwater complex of east central Louisiana, a study was begun to identify causative factors for the decline and to determine effective methods to remedy the problem. To this end, water quality and fisheries surveys were conducted in the system for the study period 1 July, 1981 to 30 June, 1989. Data collected during the early years of the study indicated chronically high turbidity (> 100 FTU) to be the major factor limiting game fish production. The high turbidity can be related to man-made alterations of natural flood patterns that had changed the major source of backwater flooding from Black River to the highly turbid Red River. In September, 1986, a construction project was undertaken to restore flood patterns to approximate natural conditions. Sampling subsequent to this construction has shown a significant decrease in turbidity and an increase in game fish production.     

Process simulators for safety

Given the often dangerous nature of large-scale chemical and petroleum-based processes, corporations which operate plants in the hydrocarbon industry must make safety their first priority.     

Sharing versus collaborative economy: how to align ICT developments and the SDGs in tourism?

Great hopes have been placed in the sharing economy to provide a new business model based on peer-to-peer (P2P) exchanges of underutilized assets. As a model, the sharing economy has been expected to make significant contributions to sustainability, providing new opportunities for entrepreneurship, more sustainable use of resources, and consumer co-operation in tight economic networks. However, in recent years, digital platforms have turned into the most important actors in the global sharing economy, turning global corporations, such as AirBnB, Booking, or TripAdvisor into intermediaries controlling and profiting from most transactions. Focused on accommodation, this paper conceptualizes the sharing economy in comparison to the wider collaborative economy, and discusses its social, economic, environmental, and political impacts in comparison to the sustainable development goals. It concludes that the sharing economy has great potential to make very significant contributions to sustainability, though the model is increasingly being replaced by the collaborative economy, which performs as an extension and acceleration of neoliberal economic practices.     

Das journalistische Feld in Deutschland

By using Bourdieus’ thinking tools field, habitus and capital, this article first develops a concept of the journalistic field, in which economic capital and journalistic capital decide on (collective and individual) agents’ latitude and in which their autonomy could be influenced by economic logic, the discussion on journalistic norms and the logic of other social fields. Subsequently, this concept is implemented in a qualitative study. For that purpose 501 guideline interviews with journalists were conducted; they were asked about their career, their working conditions and their role perception. The findings show that in Germany nowadays the journalistic field is dominated by information professionals, who know their craft and who made the needs of the audience the benchmark of their work. Different from what literature suggests, it makes little sense to differentiate between a “commercial” and an “intellectual” pole. Exclusive news (which is what the field is all about) can only be produced where enough capital is available. At the centre of power, to which news magazines, national daily newspapers and public broadcasting stations belong, one can most easily withdraw from the economic logic and the influence that emanates from the audience and the advertising clients.     

Can tourism be part of the decarbonized global economy? The costs and risks of alternate carbon reduction policy pathways

Global leaders agree on the need to substantially decarbonize the global economy by 2050. This paper compares potential costs associated with different policy pathways to achieve tourism sector emission reduction ambitions (?50% by 2035) and transform the sector to be part of the mid-century decarbonized economy (?70% by 2050). Investment in emissions abatement within the tourism sector, combined with strategic external carbon offsets, was found to be approximately 5% more cost effective over the period 2015–2050 than exclusive reliance on offsetting. The cost to achieve the ?50% target through abatement and strategic offsetting, while significant, represents less than 0.1% of the estimated global tourism economy in 2020 and 3.6% in 2050. Distributed equally among all tourists (international and domestic), the cost of a low-carbon tourism sector is estimated at US$11 per trip, equivalent to many current travel fees or taxes. Exclusive reliance on offsetting would expose the sector to extensive and continued carbon liability costs beyond mid-century and could be perceived as climate inaction, increasing reputational risks and the potential for less efficient regulatory interventions that could hinder sustainable tourism development. Effective tourism sector leadership is needed to develop a strategic tourism policy framework and emission measurement and reporting system.