Economic Recovery: Sustaining U.S. Economic Growth in a Post-Crisis Economy

[Excerpt] There is concern that this time the U.S. economy will either not return to its pre-recession growth path but perhaps remain permanently below it, or return to the pre-crisis path but at a slower than normal pace. Problems on the supply side and the demand side of the economy has so far led to a weaker than normal recovery. If the pace of private spending proves insufficient to assure a sustained recovery, would further stimulus by monetary and fiscal policy be warranted? One of the important lessons from the Great Depression is to guard against a too hasty withdrawal of fiscal and monetary stimulus in an economy recovering from a deep decline. The removal of fiscal and monetary stimulus in 1937 is thought to have stopped a recovery and caused a slump that did not end until WWII. Opponents of further stimulus maintain that the accumulation of additional government debt would lower future economic growth, but supporters argue that additional stimulus is the appropriate near-term policy

Calm before the storm: the challenges of cloud computing in digital forensics

Cloud computing is a rapidly evolving information technology (IT) phenomenon. Rather than procure, deploy and manage a physical IT infrastructure to host their software applications, organizations are increasingly deploying their infrastructure into remote, virtualized environments, often hosted and managed by third parties. This development has significant implications for digital forensic investigators, equipment vendors, law enforcement, as well as corporate compliance and audit departments (among others). Much of digital forensic practice assumes careful control and management of IT assets (particularly data storage) during the conduct of an investigation. This paper summarises the key aspects of cloud computing and analyses how established digital forensic procedures will be invalidated in this new environment. Several new research challenges addressing this changing context are also identified and discussed

Economic resilience : including a case study of the global transition network

This paper explores the dynamic properties of organisms and ecosystems that make them so resilient and capable of adapting to changing circumstances, allowing them to maintain an overall condition of coherence, wholeness and health while living in balance within the resources of the planet. Key principles of resilient ecological systems are explored including: self-regulation; positive and negative feedback; diversity; scale and context; cooperation; emergence and novelty; and ecological tipping points. In contrast, market based economic systems can produce unstable growth with unintended destruction of cultural and species diversity and homogenisation of global life-styles. The paper re-examines fundamental economic principles using insights from biological evolution and ecosystem dynamics to establish a foundation for more resilient economies. This involves experimenting with different models in different communities to find patterns of sustainable production and exchange appropriate to local regions. Fundamental steps in this direction include the emergence of self-organising local communities based on creative experimentation, re-localisation of core sectors of the economy (food, energy, health and education), evolution of local currencies and banking practices that support local enterprise and investment in green technologies, stimulation of decentralised renewable energy networks and economic reform aligned with ecological principles. The Transition Network provides a case study of an international community based movement that has been experimenting with putting some of these principles into practice at the local level. The aim of the Transition Network is to support community led responses to peak oil and climate change, building resilience and well-being. The concept of ecological resilience and its application to local economy is hard wired into the values and emerging structure of the network of transition communities across the globe. The movement started in the UK in 2005 and there are now over 1000 Transition initiatives spanning 34 countries across the world. Many attribute the success and phenomenal growth of the Transition Network to its emerging holographic structure that mimics cell growth within living organisms. Growing a more resilient food system in the face of the twin challenges of natural resource scarcity and climate change is central to the Transition movement. A set of principles for a post carbon resilient food economy in the UK are offered. These include an 80% cut in carbon emission in the food sector by 2050, agricultural diversification, prioritization of farming methods that establish and enhance carbon sinks, phasing out of dependence on fossil fuels in food growing, processing and distribution, promoting access to nutritious and affordable food, as well as promoting greater access to land for growing food in urban and peri-urban areas. Practical examples of Transition related projects in the food sector are presented across the following themes: access to land, low carbon production methods, food distribution systems, health and community gardens and orchards, and collaborative ownership models

A Secure and Fair Resource Sharing Model for Community Clouds

Cloud computing has gained a lot of importance and has been one of the most discussed segment of today\u27s IT industry. As enterprises explore the idea of using clouds, concerns have emerged related to cloud security and standardization. This thesis explores whether the Community Cloud Deployment Model can provide solutions to some of the concerns associated with cloud computing. A secure framework based on trust negotiations for resource sharing within the community is developed as a means to provide standardization and security while building trust during resource sharing within the community. Additionally, a model for fair sharing of resources is developed which makes the resource availability and usage transparent to the community so that members can make informed decisions about their own resource requirements based on the resource usage and availability within the community. Furthermore, the fair-share model discusses methods that can be employed to address situations when the demand for a resource is higher than the resource availability in the resource pool. Various methods that include reduction in the requested amount of resource, early release of the resources and taxing members have been studied, Based on comparisons of these methods along with the advantages and disadvantages of each model outlined, a hybrid method that only taxes members for unused resources is developed. All these methods have been studied through simulations

The Chinese Approach to Capital Inflows: Patterns and Possible Explanations

In this paper, we adopt a cross-country perspective to examine the evolution of capital flows into China, both in terms of volumes and composition. China's inflows have generally been dominated by foreign direct investment (FDI), a pattern that appears to be favorable in light of the recent literature on the experiences of developing countries with financial globalization. We provide a detailed documentation of the evolution of China's capital controls, a proximate determinant of the pattern of capital inflows. We also discuss a number of other intriguing hypotheses that attempt to capture the "deeper" causes underlying China's approach to capital flows. In particular, we argue that some popular mercantilist-type arguments are inconsistent with the facts. We also analyze the recent rapid rise of China's international reserves and discuss its implications. Contrary to some popular perceptions, the dramatic surge in foreign exchange reserves since 2001 is mainly attributable to non-FDI capital inflows, rather than current account surpluses or FDI.