Dux Nest

Investing in the weather is a lot more common than you may think. In fact some investments a based entirely on the weather, such as weather derivatives. This article however discusses the impact of our feelings on our decisions in an area of study known as behavioural finance.

Behavioural finance focuses on decision-making under uncertainty, and demonstrates that human decisions systematically depart from those predicted by the rational decision-making assumption of traditional economics. (Tony Naughton.  (2002). The winner is…behavioural finance? Journal of Financial Services Marketing, 7(2), 110-111.)

So how much does a sunny day impact on our behaviour?

Will the market rise just because the weather is nice?

Does Seasonal Affective Disorder (SAD) really have an impact on investor behaviour? If so, could you make money by simply investing in the theory that market to rise from winter to summer?

A good deal of recent research is concerned with costly irrational financial behavior. Investor overconfidence, myopia, the irrational hesitancy to realize losses, or other unusual behaviors may affect the outcomes of financial decisions. It is further possible that these irrationalities are not sufficiently predictable by more rational traders, so that the behaviors do not lead to arbitrage opportunities that would keep market prices efficient. The inability to arbitrage away irrational outcomes would obviously be a major concern for financial markets.

While the research is concerned mostly with the interrelationship between trade outcomes and price movement, increasing attention is being paid to the relation between physiological phenomena, such as the weather, and their effect on stock market returns. The underlying premise of this parallel line of investigation is that in the short run stock returns may be related to predictable changes in an investor’s psychological status, and that this investor’s psychological status may be predictable by observing exogenous variables such as the weather.

In other words, this physiological evidence comes in addition to the growing evidence of unexplained retail investor irrationality. Hirshleifer and Shumway find that if transaction costs are sufficiently low, a relatively clear morning can lead to profitable afternoon stock trading.

Research has also investigated various other exogenous factors that may drive investor behavior. These factors include an unusual cast of characters, such as the lunar cycle, the switch to daylight-savings time, seasonal affective disorder (SAD), and even geomagnetic storms.

These findings are being taken a lot more seriously than other work that relates stock returns to such factors as whether the National Football Conference team wins the Super Bowl. (Piman Limpaphayom,  Peter R Locke,  Pattarake Sarajoti. (2005). BUTTON UP YOUR OVERCOAT! TRADING AGAINST THE WIND. Corporate Finance Review, 10(3), 12-18.) Findings support the theory that floor traders exhibit trading behavior that appears related to their local weather. For example, traders, who are often modeled as market makers, are more likely to buy on relatively calm days, suggesting a weather induced bias in their quoting behavior: quotes decline on poor weather days.

In addition, the effective bid-ask spread is smaller on calmer days, also suggesting improved attention on calm days. More importantly, weather may influence the bottom line for futures floor traders.  Results show that daily floor trader income varies with both cloud cover and wind strength. (Piman Limpaphayom,  Peter R Locke,  Pattarake Sarajoti. (2005). BUTTON UP YOUR OVERCOAT! TRADING AGAINST THE WIND. Corporate Finance Review, 10(3), 12-18.)

The findings extend the literature showing that financial decision makers are affected in a very real way by weather. Obviously, with sunshine, geomagnetism, and wind showing effects on securities prices, studies find exogenous factors affecting trader behavior. Additional external factors may cause seemingly irrational shifts in investors’ mood and hence affect securities price movements. Some effects (e.g., lunar, solar, geomagnetic) are global, these may affect the global price of risk. However, if some effects are local and only affect some traders, then any temporary or localized effect need not be troubling. Nonetheless, traders may wish to be informed as to their potential for weather-induced biases. (Piman Limpaphayom,  Peter R Locke,  Pattarake Sarajoti. (2005). BUTTON UP YOUR OVERCOAT! TRADING AGAINST THE WIND. Corporate Finance Review, 10(3), 12-18.)

The middle truth is that there is a constant interplay between the fundamentals of an investment and the psychology of the investors who own it. Sometimes the psychological effects will take over (the herding that led to the tech bubble), but then the fundamentals periodically reassert themselves (the bust). (Jeff Sanford.  (2004, May). Think you’re a smart investor? Canadian Business, 77(11), 75. )

In determining investor behaviour it is important to consider… is the sun shining where it matters? Taking a tip from the real estate agents… location location location.

Tags: Behaviour, Behavioural Finance, Economics, Investment, Uncertainty, Weather.

So often we hear of towns disappearing from the map because of various reasons, these could be a closure of a mine, a mill or perhaps the tourists can now find cheaper and more attractive holidays somewhere else. The people who are left behind struggle to make ends meet. Many people leave and the young people see there is no opportunity for future. If this was an article for “Howcast” then it would explain how to create a ghetto.

Once the main industry or employer shuts down, the locals find they have less money to spend in the local shops and are perhaps reliant on social security. The business owners have less people purchasing goods and services and therefore employ less staff. A cancerous cycle begins.

What can be done to save our town?

You may be interested to know that all hope is not lost. If you are a proactive member of your community then you can make a real difference.

According to a major report from the UK government’s Urban Task Force, chaired by Lord Rogers of Riverside to revive towns they propose:

• using previously developed land and buildings first for new housing;
• creating a national urban design framework,
• developing a network of Regional Resource Centres for Urban Development;
• committing at least 65 percent of transport public expenditure to walking, cycling and public transport over the next 10 years and introducing Home Zones to give local people more control over traffic movement through their neighborhoods;
• creating Urban Priority Areas, where special regeneration measures will apply;
• giving local authorities new powers to manage the urban environment;
• introducing a package of tax measures, providing incentives for developers, investors, small landlords, owner-occupiers and tenants to contribute to the regeneration of urban land and buildings; and
• establishing a Renaissance Fund of 500 million over 10 years, for use by community groups and voluntary organizations to tackle derelict buildings and other eyesores in urban areas.

(Urban Task Force sets out 100 ways to revive England’s towns and cities. (1999). Institute of Transportation Engineers. ITE Journal, 69(12), 18.)

As stated in the 1989 film Field of Dreams the quote “if you build it they will come” seems appropriate also in relation to the survival of towns. Diversification is the key to success, whether it be tourism, manufacturing or even e-business. Towns cannot put all their eggs in one basket or they cease to exist with the change in the economic cycle. The answer may be as simple as beautifying the town and marketing the change. Whatever action is taken the goal is to ensure money flows into the towns economy that is not from social services. Too many ghost towns dot the maps.

Fort Worth, Texas, was once a crumbling city with boarded-up warehouses and little to attract people to its barren streets. But the wealthy Bass family saw promise for the future and began to buy up properties along the downtown streets.

Ed Bass, a leader in the effort to revitalize downtown Fort Worth, has said, “Cities need to learn to capitalize on their streets, city blocks, sidewalks, storefronts, and the comings and goings of a whole variety of people engaged in a whole gamut of activities.”

Rather than spending millions on a huge stadium that would only attract day-trippers, the city voted to invest in itself. Through a series of projects funded by a 1-cent tax increase, Oklahoma City moved aggressively to stop urban sprawl in its tracks. It built a small stadium, renovated a convention center, revitalized a waterfront property, created a new library and education center, and established a new transportation link between the downtown and its outskirts. (Sarah M Vermylen.  (2000). Revitalizing ‘ghost town’ downtowns. The World & I, 15(6), 66-71.)

Top 10 UK towns creating ghettos:

1. Hull
Average income per year: £17,300

2. Blackpool
Average income per year: £17,400

3. Caerphilly
Average income per year: £18,700

4. Leicester
Average income per year: £18,500

5. Sunderland
Average income per year: £18,800

6. City of Dundee
Average income per year: £18,800

7. Middlesbrough
Average income per year: £18,700

8. Blackburn
Average income per year: £18,700

9. Knowsley
Average income per year: £19,100

10. Nottingham
Average income per year: £18,900

Top 10 in creating ghettos USA:

1. Youngstown City, OH
Average income per year: $24,941

2. Bloomington City, IN
Average income per year: $25,225

3. Camden City, NJ
Average income per year: $25,389

4. Reading City, PA
Average income per year: $25,536

5. Flint City, MI
Average income per year: $26,143

6. Macon City, GA
Average income per year: $26,555

7. Gary City, IN
Average income per year: $26,725

8. Gainesville City, FL
Average income per year: $27,479

9. Hartford City, CT
Average income per year: $27,654

10. Passaic City, NJ
Average income per year: $27,691

Is your town becoming a ghost town?

Tags: Community, Economy, Ghetto, Money, Revival, Towns, Urban.

In this current economic slowdown, is it better to migrate or stay put?

During time of economic turmoil and recession the idea of packing our bags and moving to a country with a more stable employment market is certainly desirable but is it feasible? This article seeks to examine the concept of flight or fight in the credit crunch.

Skill shortages exist when employers are unable to fill or have considerable difficulty in filling vacancies for an occupation, or specialised skill needs within that occupation, at current levels of remuneration and conditions of employment, and reasonably accessible location.

Skill gaps occur where existing employees do not have the required qualifications, experience and/or specialised skills to meet the firm’s skill needs for an occupation. Workers may not be adequately trained or qualified to perform tasks, or may not have upskilled to emerging skill requirements.

A market economy is a very dynamic thing. Firms and their jobs are constantly being born, expanding, contracting and dying. Due to the global financial crisis, the economy has become front page news.

Many skills take years to acquire (especially professional and technical skills) and are quite specific to a particular type of work. For example, a music teacher cannot readily become an accountant; a chef cannot readily become an electricity linesperson. It is inconceivable in such an environment that there will be a continuous precise match between the types of skills that are required and the types of skills that the workforce has to offer.

When there are sizeable levels of unemployment, under-employment and non-employment, much of this inevitable imbalance is hidden from the notice of firms. With a few exceptions, they find that when they advertise a job, they have a number of people with the relevant skills who apply - sometimes a large number. They are then able to look for additional qualities, such as precise relevant experience, desirable personal qualities, evidence of enthusiasm and commitment to the firm. From the employers’ perspective, the skills system therefore seems to be working quite well. However, the consequences of the imbalance are borne by workers, who cannot find employment that uses the skills that they have laboured (and paid) to acquire. More skilled people can usually find work ahead of less skilled people (since the former can generally do the latter’s work, but not vice versa): the metal fitters and machinists can become truck drivers or cleaners. But there are many cases when the jobs they get do not make use of their formal qualifications or less formal skills. It is recognised that some component of people working below their skills is voluntary, in that people value aspects of jobs such as geographical convenience, suitability of hours, quality of the workplace. But to the extent that it is not voluntary, these mismatches are costly to the individual and to the economy. The value of this loss is rarely calculated, or even noticed. Sue Richardson.  (2009). What is a Skill Shortage? Australian Bulletin of Labour, 35(1), 326-354.

Thomas Friedman’s metaphor of a flat earth is in most ways true-information, money, and sometimes people moving easily from place to place. But much of the movement on the flat earth is between mountain tops-clusters of innovation where creative people and institutions reinforce each other. Mark Regets.  (2008). Evolving Markets: Adapting to the New High-Skilled Migration. Harvard International Review, 30(3), 62-66.

Why People Migrate

International migration is usually a carefully considered individual or family decision. The major reasons to migrate to another country can be grouped into two categories: economic and noneconomic. The factors that encourage a migrant to actually move fall into three categories: demand-pull, supply-push, and networks. An economic migrant may be encouraged to move by employer recruitment of guest workers, or demand pull reasons. Migrants crossing borders for noneconomic reasons may be moving to escape unemployment or persecution, or supply-push factors. Philip Martin and Gottfried Zürcher, “Managing Migration: The Global Challenge” Population Bulletin 63, no.1 (2008).

This article examines those that are moving for economic reasons.

Job Sprawl

When economies were roaring, there were mostly winners. Heady growth created labor shortages in many places that were eased by foreign manpower. stumbling economies witness an exodus. Most of the world’s migrants go abroad because there are few job prospects in their home countries.

The economic crisis is forcing many to return, and poverty awaits them back in the villages. Governments are also scrambling to employ displaced returnees.

The return of overseas workers can be good news for countries as a whole. In the past, highly educated Indians often sought choice jobs in New York City or London, but now, with Western economies in shambles, they are returning in ever greater numbers. Not all countries, however, are so welcoming. Economists fret that the global crisis is causing a rise in protectionism against the international movement of people, just as it is with trade and investment. With unemployment soaring everywhere, politicians are trying to preserve jobs for their own nationals by slapping restrictions on imported labor. (2009, April). On the Road Again. Time International, 173(16), 16.

For Britain the exodus could be painful. Poles worked on Terminal 5 at Heathrow Airport and manpower will be required for the next great infrastructure project: the 2012 Olympic park in east London. “The challenge in the next few years will be to attract enough migrant workers with the right skills who can drive economic growth in the UK,” warns Jill Rutter of the left-leaning Institute for Public Policy Research think tank.

Britain has dipped into a recession this year. The construction sector is under pressure as the housing market softly implodes. That means fewer day jobs for Poles, but also a possible backlash against immigrants.

Poland is enjoying growth of more than 5 percent, and jobs are easier to come by. Workers are sought to help prepare the country to host its first major postcommunist event, the 2012 European football championships. “Poland has become a good place to live,” says Treczynski. Mark Rice-Oxley.  (2008, September 10). Polish newcomers say goodbye as hard times hit Britain. The Christian Science Monitor,p. 4.

In the long run, however, the recession will not put an end to migration. Foreign workers have become integral to the workings of the global economy. People with special skills and those willing to work for less will always be in demand–and they’ll continue to be willing to follow the money. Dilip Ratha, an economist and specialist on migration at the World Bank in Washington, says workers face more hurdles in moving about the world–such as immigration laws and visa restrictions–than do trade goods and dollars, and as a result, the number of people abroad is actually lower than what the global economy is able to absorb. He expects the total population of migrants to expand in 2009, albeit at a slower pace. “While workers are coming home, there are those that are still leaving, and leaving in big numbers,” says Carmelita Dimzon, administrator of the Overseas Workers Welfare Administration in Manila. Michael Schuman.  (2009, April). On the Road Again. Time International, 173(16), 16.

Mitchell Moss, a professor of urban policy and planning at New York University’s Wagner Graduate School of Public Service suggests a different approach. He says government and business should work together to come up with solutions to efficiently get urban residents to the areas where the new jobs are springing up. Laura Petrecca.  (2009, April 6). Workers follow jobs to suburbs :Companies shift from downtowns for lower costs. USA TODAY,p. B.4.

Tags: Credit Crunch, Economics, Employment, Global Financial Crisis, Immigrants, Labour, Migration, Recession, Skills, Workforce.

What can be done? The following are solutions suggested by the academics:

1. Income Distribution and Economics - ‘Economic progress will partly depend on the casting off of obsolescent modes of distribution-obsolescent in the sense of limiting the use of society’s accumulated knowledge and productive power to improve lives. James Peach has written that “[pjoverty occurs, not because of resource constraints or a lack of technical knowledge, but because institutional (distributional) arrangements have not been adjusted to the productive potential of the modern society” (1994, 170).’ Christopher Brown.  (2005). Is There an Institutional Theory of Distribution? Journal of Economic Issues, 39(4), 915-931.
2. New Mental Judgment and Decision Making Processes - ‘Pathways distill, organize, and present the assembled information in a way that allows people in communities to understand not only what they might do, but why they should do it, what it will take to do it well, and what contextual forces, which may either enhance or constrain the effectiveness, they are likely to encounter.’ Lisbeth B Schorr,  Patricia Auspos. (2003). USABLE INFORMATION ABOUT WHAT WORKS: BUILDING A BROADER AND DEEPER KNOWLEDGE BASE. Journal of Policy Analysis and Management, 22(4), 669-676.
3. Going Wireless - ‘Wireless industries have a potential to improve lives, change the world for the better and create a great deal of wealth. However, many obstacles stand in the way of this result. Businesses will face challenges in the areas of creation of technology, the adoption of the same by consumers, business considerations, global and local legal issues and consumer fears and resistance to the constant change around us. These obstacles can be overcome by understanding them and addressing them systematically. Businesses must be aware of the challenges in order to effectively plan the future and responsibly take in investment capital to drive the wireless industries. If these steps are taken with an eye on lessons-learned more will be learned about the networked economy and wonderful and exciting times will await those in the wireless industries and any business that benefits from new technologies.’   Michael Leventhal.  (2002). The golden age of wireless. Intellectual Property & Technology Law Journal, 14(1), 1-6.
4. Education and Training - Knowledge is power. The pen is mightier than the sword and so fourth. ‘Out of a different practice and skilling (Ingold 2000) in daily life, arose a worldview that made them capable of action, of filing lawsuits against multinational corporations and of dreaming of utopias of a radically different agriculture that corresponds to the ecology of the prairies.’ Birgit Müller.  (2008). Still Feeding the World? The Political Ecology of Canadian Prairie Farmers. Anthropologica, 50(2), 389-407.
5. Women - ‘Gender ideology and gender roles discourage and inhibit women from optimizing their human capital in activities that would yield optimal returns. Meanwhile, women’s contributions at home generally are not reciprocated by men. Many women express their frustration with this situation; men are generally less inclined to see women’s roles outside of the home as proper or even feasible nor are they willing to contribute more at home to support female entrepreneurship. For policy makers, perhaps the most important lesson is not to use microcredit as a substitute for other programs that empower women. Microcredit is just one of many initiatives that can challenge unfair gender norms. Governments should complement microcredit programs by funding other initiatives to promote gender awareness and fairness.’ Dwight Haase.  (2007). Closing the Gender Gap. ESR Review, 9(2), 4-9.
6. Information Sharing - ‘There is still an urgent need for national statistical offices, academics and public and private bodies to collaborate to measure real progress. The question at hand is not just what a shared information set means and should contain, but how to change culture and policies worldwide.’ Enrico Giovannini.  (2007). Why measuring progress matters. Organisation for Economic Cooperation and Development. The OECD Observer,(262), 22-23. ‘Technology should facilitate dissemination of knowledge and not hinder it and that scarcity of resources should never come in the way of accessing information that is likely to lead to better healthcare and a better life.’ S Bavdekar,  N Gogtay,  D Muzumdar,  P Vaideeswar,  V Salvi,  M Sarkar. (2007). Journal of Postgraduate Medicine: The path ahead. Journal of Postgraduate Medicine, 53(3), 153-153.
7. Participation in Democracy - ‘We associate the term democracy with orderly elections, stability of government, universal secret suffrage, the federal system and even with certain legal sanctions for the protection of private property and individual economic enterprise which are part of the Anglo-American systems. Many of us of course, realize that democracy is more than this. From Jefferson on our leaders of democratic thought have pointed out the spiritual strivings and the social aspirations which constitute its essence, particularly the aspirations for a better and freer social order. They have seen that democracy is a complex of all these strivings intimately associated with powerful dynamic elements arising from the conquest of a new continent and from the industrial and technological revolutions of the past century and a half. Inevitably these economic changes broadened the basis of political participation in the nation-state as they opened up opportunities for ampler economic and cultural life to larger masses of people affected by these historical processes. A good deal of what we recognize as democracy in the modern world is just this broadening of the basis of political structure.’ Harold E Davis.  (2007). Democracy in Latin America. World Affairs, 170(1), 45-49.

Tags: Better, Decision Making, Democracy, Distribution, Economics, Education, Improve, Income, Judgment, Life, Mental, Training, Wireless, Women.

Once upon a time I was taught management meant planning, organising leading and controlling. These functions and processes were meant to lead to achieving the organisation’s stated purpose. In practice I see a great big hole in management functions and processes. Management are often in bureaucratic meetings and can become unaware of the functions and processes of the parties they are managing.

I propose managers become involved in the induction process. Often employees will cross-train each other in skills, functions and processes and the manager will not take part in the training. Ideally management should also take part in the training or induction process. Employee cross-training can indicate to a manager what processes are currently being conducted and how. The manager can then in turn develop, plan or source more efficient or effective processes or equipment to complete the task.

Working Smarter

Whitty (1996) suggests co-management will place a tool in the hands of employees to make work more efficient. The management function still would control and assist in assembling the resources in the system to facilitate and enable the workers to do their tasks. The work environment should not require the employee to expend physical or mental energy fighting a system to do their job. This is very rare in most business systems, despite the efforts of organization development strategists and various dynamic leaders. Whitty, Michael (1996). Co-management for workplace democracy. Journal of Organizational Change Management, 9(6), 7-11.

The perception of challenging work is the decision by employees to invest personal resources of skill and effort in their tasks. It is associated with interest, involvement and feedback that are derived from performing the job. Three aspects are particularly relevant to the work of employees in this study:

- (1) a worker’s emotional and physical energy to withstand the pressures of the job;

- (2) time invested in the job;

- (3) risk-taking behaviours associated with physical safety.

Middle managers play a major, integrative role in linking activities and ideas between the operational, administrative and business aspects of an organization. The integrative role of middle managers is instrumental in shaping employees’ attitudes and expectations about work and the organization. For example, the extent of managerial influence exists in structuring work performance through delegation of authority, participation and feedback, providing adequate rewards and working conditions. Brewer, Ann M. (1996). Developing commitment between managers and employees. Journal of Managerial Psychology, 11(4), 24-34.

Effective succession planning has the following common elements, according to a paper by McKinnon and Novations colleagues Michelle Harrison and Paul Terry:

* Criteria that adhere to the organization’s definition of critical leadership capability.

* A consistent, specific readiness assessment process based on those criteria.

* A guide for individual development for those in the plan.

* Well-defined roles and responsibilities for those responsible for succession planning.

* Regular reviews of the plan and its effectiveness.

Succession Planning Not Limited to the C-Suite. (2008, April). HRMagazine, 53(4), 16.  Retrieved October 29, 2008

Managerial processes can be employed middle managers to facilitate knowledge integration and transfer within project teams and across organizational boundaries. Laura A. Costanzo,  Vicky Tzoumpa. (2008). Enhancing organisational learning in teams: has the middle manager got a role? Team Performance Management, 14(3/4), 146-164.

Often management are so involved with their own responsibilities they disconnect from understanding how the work is being conducted on the ground level.

Tags: Development, facilitate, Management, Process, Skills, Tasks, Training.

In school if someone were to inform a teacher of your activities it wouldn’t be considered whistleblowing. Back then, you might have called them a dobber or say they grassed on you. Now, in the corporate world we see the value of whistleblowers.

Whistle-blowing is the act, for an employee (or former employee), of disclosing what he believes to be unethical or illegal behavior to higher management (internal whistle-blowing) or to an external authority or the public (external whistle-blowing). Mathieu Bouville (2008). Whistle-Blowing and Morality. Journal of Business Ethics, 81(3), 579-585.

In the schoolyard we do not even consider that informing a higher authority is ethical behaviour. Similar to the corporate whistleblower, speaking out against bullies is not an easy task for the victim or informant.

Victims of bullying tend to be physically smaller, more sensitive, unhappy, cautious, anxious, quiet, and withdrawn than other children (Byrne, 1993; Hoover, Oliver, & Hazier, 1992). Most victims of bullying can be termed “passive” or “submissive” victims (Olweus, 1993). They are generally insecure and non-assertive, and react by withdrawing and crying when attacked by other students. In this sense, they are vulnerable to being victimized; bullies know these students will not retaliate (Salmivalli, Karhunen, & Lagerspetz, 1996). A less common profile, the “provocative victim,” has also been described. Lee A Beaty,  Erick B Alexeyev. (2008). THE PROBLEM OF SCHOOL BULLIES: WHAT THE RESEARCH TELLS US. Adolescence, 43(169), 1-11.

Elementary students are known for letting adults know about behavior that is meanspirited or against the rules. In fact, elementary teachers and principals will readily admit that supervising a playground is challenging because students’ need to tell is so prevalent. As students mature, however, many victims and witnesses become much more reluctant to seek the advice of a trusted adult to help solve social and safety-related issues. This reluctance makes it difficult to recognize the extent to which destructive behavior may be happening.

By secondary school, many students begin to believe that if adults get involved, the situation will be mishandled or the bullying will intensify. These beliefs are sometimes based on how students have seen adults handle incidents of bullying.

The negative outcomes of bullying behaviors reach far into the school environment, and reports of school tragedies involving violence often reveal that the perpetrator felt victimized, harassed, and intimidated. Students who feel victimized may stay home from school to avoid the mental and physical punishment that a bully inflicts. And the concentration and academic achievement of students who do come to school but who are tormented in class or walk the hallways in fear may also be negatively affected. Judy Brunner,  Dennis Lewis. (2008, February). Tattling Ends but bullying continues. Principal Leadership, 8(6), 38-42.

To develop a corporate environment that encourages whistleblowing perhaps we should start in schools.

Tags: Authority, Bully, Dobber, Grass on, Tattle, Whistleblower, Whistleblowing.

Have you ever walked into a variety store or price point retailer and wondered why we are using the earth’s resources to manufacture pointless novelty items that nobody wants or needs?

Urban Waste

Lack of adequate civic sense, public awareness and participation, lukewarm approach of the local and State-level governments have resulted in a situation that most of the beautiful landscapes are slowly turned into litter zones, says Mr M P Sukumaran Nair, former Chairman, Institution of Engineers India (IEI) here and an environmental expert. Michael L Lenahan (2006, June). Thinking of Recycling your Byproducts? Think about this … Foundry Management & Technology, 134(6), 40,39.

Rubbish, Waste, Litter or Garbage….

Often items I see that have been thrown away are items which should never been manufactured in the first place. These items are no use to anyone and although an inventor had the best intention of making a fortune from their latest gizmo or promotional item. Often, novelty items are what I see thrown away with no hope of being recycled and largely end up as land fill.

Consumerism vs The Environment

Sustainable consumption is a balancing act. It is about consuming in such a way as to protect the environment, use natural resources wisely and promote quality of life now, while not spoiling the lives of future consumers. It is not surprising that industry and governments, as well as consumers themselves, struggle to understand sustainable consumption and fail to agree on the best way of achieving it.

Four areas of life account for four fifths of people’s impact on the environment: the running of homes, food, transport and holiday travel. People often find themselves locked into unsustainable consumption patterns, either out of habit or because they see others acting in the same way. The sustainable consumption issues faced by society can only be tackled through joint action between government, business and consumers. Policy makers will be repeating past mistakes if they expect that overloading consumers with information on sustainable consumption will bring about a change in consumer behaviour. Instead, Government, regulators and industry need to work with the reality of pressured daily lives.

Choice editing for sustainability is about shifting the field of choice: cutting out unnecessarily damaging products and getting real sustainable choices on the shelves. It helps make those green choices easier for people. There is good public appetite for this policy, helping to simplify things for consumers and removing the complex decision-making that is present around many sustainability issues. Changing the habits of a lifetime is not easy for anyone. But public commitment can be harnessed by positive leadership from government and business that delivers a compelling vision for change and makes that change possible. People need to feel confident that their own efforts are part of a collective effort, supported by policies that make sustainable options an easier choice. Lucy Yates (2008, July). Sustainable consumption: the consumer perspective. Consumer Policy Review, 18(4), 96-0_3.

Is it really the consumers or are the marketers to blame?

Advertising, sells more than products. It also promotes the interests and ideology of its corporate sponsors. And it promotes a way of life; indeed, it might be considered the Ministry of Propaganda of the consumer culture.

Certainly, the industries that feed the consumer society could use resources more efficiently and have less impact on the environment. Because we use twice as much energy as other industrialized countries, for example, it is safe to assume that we could continue to provide the same array of consumer bells and whistles while halving the environmental impact of our fossil fuel use. But many environmentalists, while embracing the prospects of more efficient resource use, believe that environmental sustainability is fundamentally incompatible with the culture of waste we call consumerism. As Alan Durning observed in How Much is Enough? The Consumer Society and the Fate of the Earth, “The furnishings of our consumer lifestyle–things like automobiles, throwaway goods and packaging, a high-fat diet, and air conditioning–can only be provided at great environmental cost. Our way of life depends on enormous and continuous inputs of the very commodities that are most damaging to the Earth to produce: energy, chemicals, metals and paper.” Durning concludes that the challenge before us is to learn to live “by sufficiency rather than excess.” Mazur, Laurie Ann,  Motavelli, Jim. (1996, May). Marketing madness. E : the Environmental Magazine, 7(3), 36.

Tags: Advertising, Consumer, Consumerism, Environmental, Garbage, Litter, Marketing, Rubbish, Sustainable, Urban Waste, Waste.

Going on holiday? How about these accessible destinations?

Perhaps not. (links to Smart Traveller - Advice against travel to these destinations)

There are many reasons why I wouldn’t want to visit certain countries. Even though many of these countries need the influx of tourist money. They haven’t created an environment that is tourist friendly. As an adventurous person I’d like to think that I could one day go anywhere in the world. To think that there are interesting places, natural wonders or historic sites in the world that I will never be able to access is very disappointing.

But what can tourism change, other than to pump cash into the local community?

Quality of life

Tomlinson suggests drawing tourists creates a major attraction for economic development and in turn an improved quality of life that is offered in the community. Marla Tomlinson (2001, August). Quality of life a draw for tourists. Northern Ontario Business, 21(10), C11

An increasing number of developing countries are focusing on tourism development in a bid to ease poverty.

United Nations World Tourism Organization assistant secretary-general professor Geoffrey Lipman said: “Tourism is a force for good. Rich countries and poor countries have it in their own interests to make it happen.

“An increasing number of countries are beginning to put tourism at the top of their poverty reduction strategy programmes as they are beginning to link tourism and transport and tourism and the environment.” Lipman said helping developing countries through tourism will ultimately benefit the world. People in developing countries will eventually become wealthy enough to visit other countries. Edward Robertson (2008, June). ‘Tourism is a force for good’. Travel Weekly,(1928), 7.

Enriching the community

Community leaders are working to enrich the quality of life for Carroll County residents. Their efforts include development of the arts, access to state-of-the-art healthcare, maintenance of the agricultural character and recruitment of high-paying jobs. Karen Kennedy (2008, March). SEEKING BALANCE. Georgia Trend, 23(7), 101.  

Obstacles to tourism

A recent survey of environmental attractions by the Ecotourism Institute of Brazil found serious obstacles throughout the country, from lack of road signs to poor accommodations and ill-trained guides. Diana Jean Schemo (1999, January 24). Why Eco-Tourists Are Shunning Brazil. New York Times (Late Edition (east Coast)),  p. 3.

Ultimately tourism should be supported by education and public works. Accessibility is the key!

Tags: Accessible, Community, Destinations, Enrich, Holiday, Obstacles, Place, Quality of Life, Tourism, Visit.

I’m not talking about being free to slag other people off because that would be defamatory. This is about peer review and freedom to our opinions. It is hard to take criticism however an outsiders view can be worth its weight in gold. The fact that someone has taken the time to let you know what they think good or bad should be viewed with high esteem. Freedom of the press has often been a subject that has raised controversy. In my view freedom of the press is not valued because people don’t value what power this freedom actually wields. Freedom of the press promotes forward thinking, which in turn promotes innovation.

Baker (2004) claims that society and, especially, its oppressed segments benefit by leaving speech choices–whether to choose privacy or exposure–largely free of legal limitation. Speech freedom is a relatively egalitarian power that people can and will claim and use. C Edwin Baker (2004). AUTONOMY AND INFORMATIONAL PRIVACY, OR GOSSIP: THE CENTRAL MEANING OF THE FIRST AMENDMENT. Social Philosophy & Policy, 21(2), 215.

The media should play a part “to provide important materials regarding the citizens or the nation in a democratic society and contribute to the public’s right to know.” This includes monitoring how public organisations exercise their power. Atsuko Kobayashi (4 October 2006). ANALYSIS: Importance of freedom of press recognized by Supreme Court. Knight Ridder Tribune Business News,1.

The challenge for reporters and their lawyers, then, is not just to establish the legal right of access, but to enforce that right promptly. David B Smallman (2000, November). Access delayed and justice denied. Investigative Reporters and Editors, Inc. The IRE Journal, 23(6), 9,31.

Ultimately, the higher the rating on the Reporters Without Borders Index the greater people should be proud of their country or their government. Without the checks and balances it is not possible to improve and progress. Aim to be rated number 1!

http://en.wikipedia.org/wiki/Template:Reporters_Without_Borders/Worldwide_press_freedom_index

Tags: Freedom of the Press, Innovation, Peer Review, Rights.

In many locations, it is easier to get from point A to point B without using the public transport system. It would be wonderful to click my fingers and appear in a new location without the hassle of driving, hiking, flying etc.

Solutions that are currently being suggested:

“It’s not enough for a company to just provide a free parking spot. They’ve got to be willing to help people who want to take the bus, or car pool, ride a bicycle to work.” - Phil Winters, a program director at the University of South Florida’s Center for Urban Transportation Research. Patrick J Kiger (2008, August). Going the Extra Mile. Workforce Management, 87(13), 1,22-24,26,28-29.

For the long-term unemployed, transport costs can be a significant barrier to re-entering the job market. To counter this, welfare-to-work programme provider Pertemps People Development Group has teamed up with local transport group Arriva in the Teesside area. Unemployed clients get free bus travel to and from the group’s offices and training sites and subsequently, if they get a job, to the workplace. Vivienne Riddoch (2008, July). INNOVATIONS: Free transport to help the unemployed. Regeneration & Renewal,21.

Others suggest:

Money is the solution or the routes need to be marketed better.

It is true these projects do need ongoing funding however it seems that throwing money at something without a solution isn’t an answer. Has anyone tried to search on a website how to catch a bus from one end of town to the other? Often these websites are far from user friendly. Access to information about how to get from point A to point B is often lost unless you are a regular commuter on that route.

Transportation is: Too important to be left to the public.

This comment is based on the idea that maintenance and work towards better transportation should not be dependent on whether the fuel prices rise or fall. In the past, transport systems were removed to make way for the car. Now these systems are needed more than ever but the framework has already been lost. To put back transport systems that have been replaced by the car is a difficult task.

The height of new buildings is one factor that relates to the intensity of urban development and transport solutions in a city.

If you build it they shall come. I’m not sure of the mathematical equation for the correlation between the height of buildings and transport required but it should possibly be a factor taken into consideration in town planning or building projects especially new suburb developments.

Tags: Future, Public, Solutions, Transport, Transportation.