Book Reviews

Leon A. Mears, The New Rice Economy of Indonesia, Yogyakarta: Gadjah Mada University Press, 1981, pp. xxiii + 605. Price US$15.

Alfian, Mely G. Tan, Selo Soemardjan (eds). Kemirkinan Struktural: Suatu Bunga Rampai (Structural Poverty: A Collection). Jakarta: Yayasan Ilmu-Ilmu Sosial (YIIS), 1980. pp. 189. Rp 2000.

Thee Kian Wie, Pemerataan- Kemiskinan- Ketimpangan (Equalization-Poverty-Uneven Distribution), Jakarta: Sinar Harapan. 1981, pp. 152. Rp 1750.

Bulletin Leknns, Year 1 No. 2, Feb. 1982, Special Edition on Employment Opportunity, Poverty and Population Mobility in Rural Areas, pp. 146.

Mubyarto (ed.), Growth and Equity in Indonesian Agricultural Development, Jakarta: Yayasan Agro Ekonomika, 1982. pp. xv + 258.

Muriel Charras, De la forêt malefique à I'herbe divine [From Malign Jungle to Divine Grain]: La transmigration en Indonesie: Les Balinais a Sulawesi, Paris: Editions de la Maison des sciences de I'homme 1982, pp, viii + 341. Price Fr. 90.00.

Yujiro Hayami and Masao Kikuchi. Asian Village Economy at the Crossroads: An Economic Approach to Institutional Change, Tokyo: University of Tokyo Press, 1981, pp. xvi + 275. Yen 4000. Geoffrey B. Hainsworth (ed.), Village-level Modernization in Southeast Asia: The Political Economy of Rice and Water. Vancouver: University of British Columbia Press. 1982. pp. ix + 411. Can$34.00.

Colin MacAndrews and Chia Lin-Sien (eds.). Too Rapid Rural Development: Perceptions and Perspectives from Southeast Asia, Athens: University of Ohio Press, pp. xiv + 369. Cloth $19.95, paper $10.95.

Gary E. Hansen (ed.), Agricultural and Rural Development in Indonesia, Boulder, Colorado: Westview Press, 1981, pp. xiv + 312.

William L. Collier, Declining Labour Absorption (1878 to 1980) in Javanese Rice Production, Bogor: Agro-economic Survey, Rural Dynamics Study, Publication No. 2, 1980, pp. 120.     

A nonlinear long memory model, with an application to US unemployment

Two important empirical features of US unemployment are that shocks to the series seem rather persistent and that it seems to rise faster during recessions than that it falls during expansions. To jointly capture these features of long memory and nonlinearity, we put forward a new time series model and evaluate its empirical performance. We find that the model describes the data rather well and that it outperforms related competitive models on various measures of fit.     

Redesigning Product Lines with Conjoint Analysis: A Comment

In a recent article, Page and Rosenbaum [ Journal of Product Innovation Management 4; 120–137 (June 1987)] discuss the use of conjoint analysis at Sunbeam Corporation. Their article provides a nice illustration of a conjoint application to food processor appliance redesign decisions. In this note, Dick Wittink compares characteristics of Sunbeam's approach to both established and more recent results reported in the conjoint literature.     

Trajectories of Internationalization: Knowledge and National Business Styles in the Making of Two Dutch Publishing Multinationals, 1950-1990

The internationalization of business is the subject of an extensivetheoretical literature as well as a growing number of historicalstudies. Historians have paid relatively little attention tothe development of multinationals in the service sector, andstudies about international publishing are especially scarce.This article discusses the early internationalization of twoDutch publishing firms, Kluwer (now Wolters Kluwer) and Elsevier(now Reed Elsevier) and confronts these case histories withthe evolutionary theory of internationalization. The Dutch casesunderline the important role of experience, knowledge and learningas well as of the national context in which companies develop.They also show that these factors allow for very different trajectoriesof internationalization within the same branch of business andthe same country.     

Sustainable development of agricultural systems: competing objectives and critical limits

The sustainability of agricultural systems has become a major focus for debates about future human survival. Much of the argument appears to rely on simplistic interpretation of ecological models, and fails adequately to define what sustainability objectives are being sought. We explore the implications of two alternative approaches to agricultural sustainability: the Critical Limits view which would require future farming systems to accept the ecosystem-imposed limits on the number of people in the world and the lifestyle they can enjoy; and the Competing Objectives view would balance agricultural sustainability with economic viability, reduction of environmental harm and fulfilling public demands for food and landscape benefits. The development of farming systems of the future will depend on which of these views is adopted by planners and policy makers.This paper challenges some of the ecological assumptions underlying the Critical Limits approach and questions the conventional view that extensive farming systems are more sustainable agriculturally than intensive systems. We may be able to deal more effectively with the environmental side effects of intensive farming systems by treating them as unwanted externalities and taking direct action to avoid or remove them rather than attempting to change fundamentally the nature of modern farming systems.To cope with the increasingly complexity and inter-connectedness of modern farming systems in the context of globalisation and potential perturbations like climate change, we need a pluralistic approach to policy, which can cope with the high levels of uncertainty in these areas and which allows maximum flexibility of response to changing circumstances.     

Inside the Crystal Ball of Finance: Understanding Financial Economists' Attitudes to Market and Society

Market economists are thought to wield tremendous power—not only over financial markets but over governments that stray from the ‘market way’. Still, there is mystery about what economists think, and how they form their judgements. This article reports results from a survey of over 50 financial market economists from leading financial institutions in Australia conducted in December 2003 and January 2004. It provides insight into the opinions of economists who impact on markets and policy, especially through media commentary. The article identifies their economic and social views, comparing them with the Australian public. We then examine how professional views of economists differ from their personal views. Differences in professional and private views—especially over the role of government and labour markets—are an opportunity to ponder how judgements are formed and used. We offer tentative answers to the question: do these professionals—highly paid for their opinions—occasionally self‐censor?