Predicting the cost of the consequences of a large nuclear accident in the UK

Nuclear accidents have the potential to lead to significant off-site effects that require actions to minimise the radiological impacts on people. Such countermeasures may include sheltering, evacuation, restrictions on the sale of locally-grown food, and long-term relocation of the population amongst others. Countries with nuclear facilities draw up emergency preparedness plans, and put in place such provisions as distributing instructions and iodine prophylaxis to the local population. Their plans are applied in simulated exercises on a regular basis. The costs associated with emergency preparedness and the safety provisions to reduce the likelihood of an accident, and/or mitigate the consequences, are justified on the basis of the health risks and accident costs averted. There is, of course, only limited actual experience to indicate the likely costs so that much of the costing of accidents is based on calculations. This paper reviews the methodologies used, in particular the approach that has been developed in the UK, to appraise the costs of a hypothetical nuclear accident. Results of analysing a hypothetical nuclear accident at a fictitious reactor site within the United Kingdom are discussed in relation to the accidents at Three Mile Island 2, Chernobyl and Fukushima Dai-ichi

Pragmatic financialisation: the role of the Japanese Post Office

The Japanese Post Office, one of the world’s largest financial institutions, was finally privatised in 2015, marking an appropriate time to examine financialisation in Japan. Literature on financialisation and changes in Japanese capitalism assumes convergence on Anglo-American capitalism with a diminishing of state power. The main argument of this paper is that financialisation is instead a more contingent process. This is put forth through an examination of how this process has been mediated by the Japanese state through the workings of the Japanese Post Office. The state has frequently shaped the direction of financialisation by intervening in the routing of household funds via the postal savings system in order to achieve its objectives in different circumstances, particularly evident in the protracted and contested nature of the post bank’s privatisation. Financialisation is thus not preordained; instead its path is hewn by crisis, catastrophe, demographics and the agency of domestic social actors