‘Stop-go’ policy and the restriction of post-war British house-building

From the mid-1950s to the early 1980s the Treasury and Bank of England successfully advocated a policy of restricting both private and public sector house-building, as a key but covert instrument of their wider ‘stop-go’ macroeconomic policy framework. While the intensity of restrictions varied over the economic cycle, private house-building was restricted (through limiting mortgage availability) for almost all this period. This was achieved by keeping building society interest rates low relative to other interest rates and thus starving the building society movement of mortgage funds. Mortgage restriction was never publicly discussed and sometimes operated alongside ambitious housing targets and well-publicised policy initiatives to boost housing demand. This paper outlines the evolution of house-building restriction, together with its impacts on the housing sector and the wider economy. We review the evolution of the policy framework and its consequences, compare the level and stability of British house-building during this period - historically and relative to other countries, and undertake time-series econometric analysis of its impacts on both house-building and house prices. Finally, implications for debates regarding stop-go policy, Britain’s housing problem, and the distributional consequences of government macroeconomic policy are discussed

Happy hosts? International tourist arrivals and residents' subjective well-being in Europe

While there has been a growing interest in the relationship between perceived tourism impacts and residents’ quality of life, little is known about how residents’ well-being is affected by actual tourist arrivals. This paper studies the effect of international tourist arrivals on the subjective well-being – happiness and life satisfaction – of residents in European countries. Data come from the six waves of the European Social Survey, conducted in 32 countries in 2002-2013. The results of the OLS fixed-effects and instrumental-variable estimations suggest that tourist arrivals reduce residents’ life satisfaction. This negative relationship tends to be more pronounced in countries where tourism intensity is relatively high, as well as among people living in rural areas. In addition, tourist arrivals have a greater negative relationship with the evaluative component of subjective well-being (life satisfaction) than its affective component (happiness)

Inclusive growth in English cities: mainstreamed or sidelined?

<p>The concept of inclusive growth is increasingly presented as offering prospects for more equitable social outcomes. However, inclusive growth is subject to a variety of interpretations and lacks definitional clarity. In England, via devolution, cities are taking on new powers for policy domains that can influence inclusive growth outcomes. This opens up opportunities for innovation to address central issues of low pay and poverty. This paper examines the extent to which inclusive growth concerns form a central or peripheral aspect in this new devolution through the content analysis of devolution agreements. It concludes that inclusive growth concerns appear to be largely sidelined.</p

Corporatism as a process of working class containment and roll-back: The recent experiences of South Africa and South Korea

In this article we argue that recent debates in the corporatist literature about whether corporatism is best understood as a process of structured interest representation or political dialogue miss the point as to corporatism's central task - the shift of material resources and power away from the working class to the capitalist class, in which two processes are evident - containment and roll-back. We discuss these processes in the context of successive waves of corporatism in Western Europe from the 1940s to the 1990s before moving on to an analysis of the contrasting fortunes of corporatism in South Africa and South Korea during democratic transition. We conclude that the ability of corporatism to carry out the processes of containment and roll back in these two cases have been dependent on the existence (or absence) of supportive prior political relationships between organised labour and the state

Environmental impacts of food retail: A framework method and case application

© 2015 Elsevier Ltd. The food retail sector is the gatekeeper between consumers and producers and has substantial influence on consumption and production choices via procurement and provision decisions. Food provision and consumption systems embody huge environmental impacts worldwide. Food retailers as gatekeepers have a key role to play to enable sustainable consumption and provision to become common practice. In this paper, a framework to attribute emissions and water use to individual and all food retail businesses and their products by geographical area and postcode of cities is presented. As far as the current authors are aware, such a framework has not been generated for food retail sector businesses before, primarily due to barriers to input-output modelling of the sector. The scientific value added is that a novel approach to overcome barriers is presented as well as the required framework. The framework is illustrated for Southampton, but can be applied in other regions of the world where similar data exist. The value of a business's product emissions estimates (generated by the framework) is they can be a first step in informing product prioritisation for focussing information searches or more detailed life cycle analysis to make sustainable procurement and choice editing decisions. The approach has value to government, businesses and non-government organisations (NGOs) in developing strategy and planning sustainable provision and procurement; by helping benchmark sustainable shopping provision, prioritisation of retail businesses and product categories for sustainable procurement/choice editing

Tap water costs and service sustainability, a close relationship

Water is currently an essential and strategic resource for society and its importance will rise in the future due to the increasing number of threats. However, water management is not currently up to par taking into consideration this well acknowledged importance. Generally speaking, water use is not efficient and loss figures are often too high. The reasons behind this situation are complex and diverse, however, in principle, they can be divided into four categories: cultural, political, social and economic. Since the latter are of most importance, this paper focuses on water costs from source to tap. The economic analysis presented quantifies the costs of a sustainable urban water service in a structured way. The second part of the paper present a case study in which the economic losses linked to leakage are assessed as a function of how expenses are recovered. The cost of apparent losses could also be assessed in a similar way and will always be higher, since apparent losses (unlike real ones) are present throughout the whole water cycle, thus increasing the unit costs.Cabrera Marcet, E.; Pardo Picazo, MA.; Cabrera Rochera, E.; Arregui De La Cruz, F. (2013). Tap water costs and service sustainability, a close relationship. Water Resources Management. 27(1):239-253. doi:10.1007/s11269-012-0181-3S239253271Almandoz J, Cabrera E, Arregui F, Cabrera Jr E, Cobacho R (2005) Leakage assessment through water networks simulation. J Water Resour Plan Manag ASCE. Nov-Dic. 2005 pp 458–466BDEW (German Association of Energy and Water Industries) (2010) Comparison of European Water and Wastewater Prices German Association of Energy and Water Industries, BonnCabrera E, Pardo MA, Cobacho R, Arregui FJ, Cabrera Jr E (2010) Energy audit of water networks. J. Water Resour. Plan. Manag. ASCE. Nov–Dic. 2010 pp 669–677Coase RH (1960) The problem of social cost. J Law Econ, October 1960den Blanken M (2009) Asset Management. A necessary tool for a modern water company AWWA International Conference on Strategic Asset Management. Miami 11–13 November 2009EPO (Eurostat Press Office) (2010) Facts and figures on the environment: from environmental taxes to water resources. Eurostat Press Office, Luxembourg, December 2010EU (European Union) (2000) Directive 2000/60/EC of the European Parliament and of the Council of 23 October 2000. Off J Eur Communities 22.12.2000. Pp L 327/1 to L 327/72IWA (International Water Association) (2010) International statistics for water services. Montreal 2010. Canada. International Water Association, LondonKanakoudis V, Tolikas D (2001) The role of leaks and breaks in water networks: technical and economical solutions. J Water SRT - Aqua 50(2001):301–311Kanakoudis V, Tsitsifli S (2009) Water pricing policies in Greece: is there a Common Understanding?. 2nd International conference on water economics, statistics, and finance Alexandroupolis, Thrace, Greece, 3–5 July 2009.Kanakoudis V, Gonelas K, Tolikas D (2011) Basic principles for urban water value assessment and price setting towards its full cost recovery – pinpointing the role of the water losses. J Water Supply: Res Technol 60(1):27–39Logar I, Van den Berg J (2012) Methods to assess costs of drought damages and policies for drought mitigation and adaptation: Review and recommendations. Water Resour Manag. doi: 10.1007/s11269-012-0119-9Molinos-Senante M, Hernández-Sancho F, Sala-Garrido R (2012) Tariffs and cost recovery in water reuse. Water Resour Manag. doi: 10.1007/s11269-012-0111-4NRC (National Research Council) (2008) Desalination a national perspective. NAP Press, Washington, D.C. National Research Council, Ottawa, CanadaOECD (Organisation for Economic Co-operation and Development) (2010) Pricing water resources and water and sanitation services. OECD, ParisOFWAT (Office of Water Services) (2009) Future water and sewerage charges 2010-15: Final determinations. OFWAT (Office of Water Services), Birmingham UKRogers P, Bhatia R, Huber A (1998) Water as a social and economic good: How to put the principle into practice. Global Water Partnership, Swedish International Development Cooperation Agency.Roth A (2001) Water pricing in the EU. A review. European Environmental Bureau (EEB), BrusselsWonnacott P, Wonnacott R (1990) Economics, 4th edn. John Wiley, 1990Zhu X, van Ierland EC (2012) Economic modeling for water quantity and quality management: a welfare program approach. Water Resour Manag. doi: 10.1007/s11269-012-0029-

The strategic economic governance of Greater Manchester's local labour market by the local state: implications for young workers

This article explores how work and employment conditions for young workers are affected by the actions of the state at the spatial scale of the locality. The article argues that young workers have experienced deteriorating labour market conditions following shifts in the form which capitalist accumulation takes in the UK. This shift has altered the composition of the national state which has in turn led to changes in how it regulates both local labour markets and the economic strategies of the local state. One result of these changes is the diffusion of neoliberal labour market reforms which have led to negative material consequences for young workers; these are manifest in the expansion of low-waged work concentrated in a small number of sectors, and characterized by an intensified labour process

Exclusionary employment in Britain’s broken labour market

There is growing evidence of the problematic nature of the UK’s ‘flexible labour market’ with rising levels of in-work poverty and insecurity. Yet successive Governments have stressed that paid work is the route to inclusion, focussing attention on the divide between employed and unemployed. Past efforts to measure social exclusion have tended to make the same distinction. The aim of this paper is to apply Levitas et al’s (2007) framework to assess levels of exclusionary employment, i.e. exclusion arising directly from an individual’s labour market situation. Using data from the Poverty and Social Exclusion UK survey, results show that one in three adults in paid work is in poverty, or in insecure or poor quality employment. One third of this group have not seen any progression in their labour market situation in the last five years. The policy focus needs to shift from ‘Broken Britain’ to Britain’s broken labour market

East Asian Welfare States in Transition

Summaries After the spectacular economic crisis of late 1997, there has been a call for social welfare reform as well as economic restructuring in East Asia. Covering Japan, South Korea and Taiwan, this article first seeks to identify the strengths and weaknesses of the East Asian welfare states. Second, it examines the pressures for reform of the welfare systems. Finally, it addresses the question of whether the low spending East Asian welfare regimes will be maintained in the future. The strength.of the East Asian welfare states mainly lies in their promotion of an ideology of developmentalism and their relatively low cost; while their weakness is that they tend to reinforce socio?economic inequalities. Economic recession and socio?economic pressures as well as inefficiencies within the welfare states create pressure for change. The governments in Japan, South Korea and Taiwan have responded with reform measures appropriate to these nations' social and political context. Despite different policy responses, the welfare states in these countries will become more expensive, although they will remain low spenders among the developed nations