The association's services are provided for members' benefit and are not operated for profit maximisation.
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The IMF reckons that the optimal tax rate on higher incomes, assuming the aim is revenue maximisation, is 44%.
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But revenue maximisation and the looming sale of oil company shares argues for letting prices rise above $60 in 2018.
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By the early 22014s, OPEC members had obtained complete ownership of production on their territories and the focus shifted more explicitly to revenue maximisation.
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We're certainly not advocating crushing anyone on the Central line with your strapping thighs, but it turns out there are some merits to "space maximisation".
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"If we only care about profit maximisation, we will go rapidly into dystopia," said Rosenstein, who admits to distancing himself from the platform he helped build.
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More broadly, while shareholders may gain from revenue-maximisation techniques such as deceptive advertising and lobbying for biased regulation, these tend to be bad for the common good.
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In the context of the shorter working week, automation holds the promise of reducing work time, thereby opening up the possibility of the maximisation of autonomous time for individuals.
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Although the communist bloc collapsed, Ms Liimatainen remains convinced there must be an alternative to capitalism, which she sees as profit maximisation for a few and poverty for the many.
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This triangulation is "not a 'barely more than de minimis standard", he said, and "it's not a maximisation standard" where the financial and staffing burden on school districts would be excessive.
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The focus on GDP justifies the maximisation of profit above any competing interest, thereby exacerbating the very issues we so urgently need to address, like social inequality, global warming and environmental degradation.
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Companies now recognise that profit maximisation is not the sole purpose of business, so you should acknowledge that the quality of an MBA is not solely determined by the money a graduate can earn.
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From farm to fork, both consumers and investors are waking up to how innovations can transform verticals like precision farming, yield maximisation, sustainability and quality of foods supporting world preferences for a more diverse and conscious supply.
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His wife and son took over but they opted to put the firm up for sale so a new owner could inject cash to fund the expansion of the fast-growing group and to put a stronger focus on value maximisation.
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Just a few years ago such a free-for-all would have been unimaginable but today it is the reality and we must get used to it, unless the [OPEC] producers build on the recent announcement and change their output maximisation strategy.
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The mission of the organisation is to "promote and support the maximisation of capability in world-class business processes and performance for businesses and individuals [within New Zealand]" through advocacy, education, promotion, and support.
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113, no. 21, 1 December 2000, pp. 9369–9372 The expression for the quantum force has been used, together with Bayesian statistical analysis and Expectation-maximisation methods, for computing ensembles of trajectories that arise under the influence of classical and quantum forces.
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According to the postmodern sociologist Baudrillard, the individual is trained into the duty of seeking the relentless maximisation of pleasure lest he or she become asocial.Baudrillard. J. (1998). The Consumer Society: Myths and Structures. Page 80 Therefore, “enjoyment” and “fun” become indistinguishable from the need to consume.
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Ibid; cf. Plato Op.cit.16, p.505b Mason also refers to James Griffin who was of the opinion that “well-being” was a better name for such an end, and which he saw in terms of “flourishing” or a “maximisation of life” in all its aspects.
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As rationally self-interested politicians interested in vote maximisation, members of the political elite adopt moderate viewpoints in order to appeal to the median voter. These assumptions are in line with other established theories in political science, including the median voter theorem.Downs, Anthony (1957). An Economic Theory of Democracy.
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This algorithm is derived by Garcia by directly optimizing the likelihood. Roberts and Roberts generalize the algorithm to Bayesian settings with the compound geometric formulation described above. Additionally, Roberts and Roberts are able to use the Expectation Maximisation (EM) framework to show convergence of the fixed point algorithm.
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Between games of strategy and games against nature, there remains a middle ground where uncertainties are partially controllable by the decision-maker—situations labelled "games of strength and skill" by von Neumann and Morgenstern, or "moral hazard" in subsequent work. Such problems of moral hazard have been discussed by Jacques Drèze in his dissertation, leading to the 1961 paper (8), whose analysis was generalized in 1987 (76), and simplified in 2004 (123). Drèze's theory allows for preferences depending on the state of the environment. Rational behaviour is again characterised by subjective expected utility maximisation, where the utility is state- dependent, and the maximisation encompasses the choice of an optimal subjective probability from an underlying feasible set.
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A variety of passive systems, such as appropriate orientation of inhabited spaces, daylight maximisation and facade screening, have been used in conjunction with active systems such as energy efficient lighting, water efficient fittings, rainwater collection and greywater recycling.Short Black - Coca Cola Place 19 December 2011. Retrieved on 6 April 2012.
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In his book A Theory of Justice, John Rawls outlines his famous theory about justice as fairness. The theory consists of three core components: # the equality of people in rights and liberties; # the equality of opportunities for all; and # an arrangement of economic inequalities focused on benefit maximisation for those who are least advantaged.
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The NOB—like other railway companies at the time—aimed at short-term profit maximisation for private bankers. The bankers took offices in management and the board of directors to secure their profits. The rights of the other shareholders was undermined by the use of common stock. They gained exemption from tax and subsidies through political influence.
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Adherents of neoclassical economics, the mainstream school of economics, employ the theory of marginalism, which holds that the value of any good or service is measured by its price. While Marxian surplus value can't be measured, the utility of the "last" bought consumption good determined by its marginal utility, in satisfying a specific consumer's wants should therefore be concerned as a complete absolute essence, where politics, social constructions, ideologies and culture (such as the media, fashion, and consumerism) should be considered nonexistent. While Marx emphasizes profit maximisation (under the premise that a capitalist would only be concerned with profit), neoclassical economists view the maximisation of utility at the individual or societal level (i.e. in capitalism individuals are understood as altruist concerned solely in providing people with what they want).
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Covington MV. 1998. The Will to Learn: A Guide for Motivating Young People. New York: Cambridge Univ. Press The effort an individual puts in for the maximisation of academic competence to protect self-worth is often defined as a “double-edged sword”; while it is an essential factor of success, it can also result in feelings of worthlessness and incapability if one fails.
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Therefore, Strategic Financial Management are those aspect of the overall plan of the organisation that concerns financial managers. This includes different parts of the business plan, for example marketing and sales plan, production plan, personnel plan, capital expenditure, etc. These all have financial implications for the financial managers of an organisation. The objective of the Financial Management is the maximisation of shareholders wealth.
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DSLRs typically use autofocus based on phase detection. This method allows the optimal lens position to be calculated, rather than "found", as would be the case with autofocus based on contrast maximisation. Phase-detection autofocus is typically faster than other passive techniques. As the phase sensor requires the same light going to the image sensor, it was previously only possible with an SLR design.
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Oliver E. Williamson hypothesised (1964) that profit maximization would not be the objective of the managers of a joint stock organisation.International Management Journal, Kenny Crossan, The Theory of the Firm and Alternative Theories of Firm Behaviour: A Critique. International Journal of Applied Institutional Governance Volume 1 Issue 1; . This theory, like other managerial theories of the firm, assumes that utility maximisation is a manager’s sole objective.
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If the negotiation parties are able to expand the total pie a win-win situation is possible assuming that both parties profit from the expansion of the pie. In practice, however, this maximisation approach is oftentimes impeded by the so-called small pie bias, i.e. the psychological underestimation of the negotiation pie's size. Likewise, the possibility to increase the pie may be underestimated due to the so-called incompatibility bias.
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It simply refers to the study of how humans make a living from their social and natural environment. A society's livelihood strategy is seen as an adaptation to its environment and material conditions, a process which may or may not involve utility maximisation. The substantive meaning of 'economics' is seen in the broader sense of 'economising' or 'provisioning'. Economics is simply the way members of society meet their material needs.
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Wall first suggests "embedded markets", embedded in society, with "state provision decentralised", as a first step to adapt capitalism. He cites the example of the Indian adivasis, who regained the land they originally inhabited and sold tea via the Fair trade system. Here, Wall argues that "social preference rather than profit maximisation socialised economic activity". He welcomes the movements in Argentina that have seen workers occupy and reopen bankrupt factories.
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Increased conductivity of currents is caused by the convection electric fields of the magnetosphere that run down the lines of the magnetic field in the E-region. The increased conductivity is also from the effects of the ionospheric storm. There is also a maximisation in the E-region of the transfer of energy from plasma to neutral particles which promotes "frictional heating" and is used as a heat source for the thermosphere.
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The murine local lymph node assay (LLNA) is an in vivo test for skin sensitisation. LLNA has largely superseded the guinea pig maximisation test and the Buehler test. It is considered more scientific and less cruel (lower number of animals; less suffering) and has found broad scientific and regulatory acceptance. The principle underlying the LLNA is that skin sensitizers induce growth of lymphocytes in the lymph nodes draining the site of application.
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In 2003, he invented dynamic causal modelling (DCM), which is used to infer the architecture of distributed systems like the brain. Mathematical contributions include variational (generalised) filtering and dynamic expectation maximisation (DEM), which are Variational Bayesian methods for time-series analysis. Friston currently works on models of functional integration in the human brain and the principles that underlie neuronal interactions. His main contribution to theoretical neurobiology is a variational Free energy principle (active inference in the Bayesian brain).
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The Victorian Certificate of Education (VCE) is offered to all students in Years 11 and 12. Many VCE subjects are also offered to Year 10 students. Those Year 10 students who satisfactorily complete Units 1 and 2 in a subject are permitted to continue that study at the Unit 3 and 4 level in Year 11, alongside their Year 12 peers. This acceleration makes a significant contribution to the maximisation of their ATAR at the completion of VCE.
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Production in most peasant and tribal societies is for the producers, also called 'production for use' or subsistence production, as opposed to 'production for exchange' which has profit maximisation as its chief aim. This difference in types of economy is explained by the 'embeddedness' of economic (i.e. provisioning) activities in other social institutions such as kinship in non-market economies. Rather than being a separate and distinct sphere, the economy is embedded in both economic and non-economic institutions.
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In May 2014, Roebuck published a combined guide to both organisational and individual leadership introducing a new model of leadership – Mach 2 leadership – in his new book 'Lead to Succeed - The Only Leadership Book You Need.' Mach 2 leadership enables the maximisation of employee effort and the application of that effort onto activities that maximises organisational performance. The book also focuses on the effective, engaging, ethical and entrepreneurial elements of leadership that underpin world-class performance.
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The first or cognitive principle of relevance says that human cognition tends to be geared to the maximisation of relevance. Historically, evolutionary pressure has resulted in cognitive systems that recognise potentially relevant stimuli and try to draw relevant conclusions. More importantly for the issue at hand, the second or communicative principle of relevance says that every utterance conveys the information that it is : a. relevant enough for it to be worth the addressee's effort to process it.
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Several of Gandhi's followers developed a theory of environmentalism. Kumarappa took the lead in a number of relevant books in the 1930s and 1940s. He and Mirabehn argued against large-scale dam-and-irrigation projects, saying that small projects were more efficacious, that organic manure was better and less dangerous than man-made chemicals, and that forests should be managed with the goal of water conservation rather than revenue maximisation. The British and the Nehru governments paid them little attention.
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The new majority of foreign shareholders considered short-term profit maximisation to be the main priority of the company. In 1887 and 1896, the management was replaced by a president who was more comfortable with the banks. On 30 May 1898, a group of track workers employed by the Swiss Central Railway was run over by a passenger train of the Northeastern Railway at the southern exit from the Gütsch tunnel near Lucerne. Seven railway workers were killed immediately and four seriously injured.
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Hann, 2000). Culturalists tend to be both less taxonomic and more culturally relativistic in their descriptions while critically reflecting on the power relationship between the ethnographer (or 'modeller') and the subjects of his or her research. While substantivists generally focus on institutions as their unit of analysis, culturalists lean towards detailed and comprehensive analyses of particular local communities. Both views agree in rejecting the formalist assumption that all human behaviour can be explained in terms of rational decision-making and utility maximisation.
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The eyes open between 90 and 100 days. Females start to breed when they reach sexual maturity, typically in their second year. At this point, they become fertile once a year, producing multiple ova while in heat. As prey is most abundant in spring and early summer, the devil's reproductive cycle starts in March or April so that the end of the weaning period coincides with the maximisation of food supplies in the wild for the newly roaming young devils.
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In 1789, Jeremy Bentham published his book An Introduction to the Principles of Morals and Legislation. Centred around individual utility and welfare, utilitarianism builds on the notion that any action which increases the overall welfare in society is good, and any action that decreases welfare is bad. By this notion, utilitarianism's focus lies with its outcomes and pay little attention to how these outcomes are shaped. This idea of utilisation maximisation, while being a much broader philosophical consideration, also translates into a theory of justice.
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A class will extract tax, produce agriculture, enslave and work others, be enslaved and work, or work for a wage. ;Subjective factors: The members will necessarily have some perception of their similarity and common interest. Marx termed this Class consciousness. Class consciousness is not simply an awareness of one's own class interest (for instance, the maximisation of shareholder value; or, the maximization of the wage with the minimization of the working day), class consciousness also embodies deeply shared views of how society should be organized legally, culturally, socially and politically.
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His work is considered to be an early precursor of modern welfare economics. Bentham stated that pleasures and pains can be ranked according to their value or "dimension" such as intensity, duration, certainty of a pleasure or a pain. He was concerned with maxima and minima of pleasures and pains; and they set a precedent for the future employment of the maximisation principle in the economics of the consumer, the firm and the search for an optimum in welfare economics. Bentham advocated "Pauper Management" which involved the creation of a chain of large workhouses.
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Polanyi argued that the term economics has two meanings: the formal meaning refers to economics as the logic of rational action and decision-making, as rational choice between the alternative uses of limited (scarce) means. The second, substantive meaning, however, presupposes neither rational decision-making nor conditions of scarcity. It simply refers to the study of how humans make a living from their social and natural environment. A society's livelihood strategy is seen as an adaptation to its environment and material conditions, a process which may or may not involve utility maximisation.
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Swarm behaviour in Dispersive Flies Optimisation Dispersive flies optimisation (DFO) is a bare-bones swarm intelligence algorithm which is inspired by the swarming behaviour of flies hovering over food sources. DFO is a simple optimiser which works by iteratively trying to improve a candidate solution with regard to a numerical measure that is calculated by a fitness function. Each member of the population, a fly or an agent, holds a candidate solution whose suitability can be evaluated by their fitness value. Optimisation problems are often formulated as either minimisation or maximisation problems.
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As these organizations aim to maximise profit they can be very healthy in an economy as the more they earn the greater is the amount they pay in taxes. That tax is eventually spent back on the people. Such corporations have the capacity to grow at a very fast rate and this eventually leads them to employing more people (lowering the employment burden on the government). Their profit maximisation motive also means that they will work on their productivity and will contribute to the GDP of any country they are living in.
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By the end of 1946 the IMF had grown to 39 members. On 1 March 1947, the IMF began its financial operations, and on 8 May France became the first country to borrow from it. The IMF was one of the key organizations of the international economic system; its design allowed the system to balance the rebuilding of international capitalism with the maximisation of national economic sovereignty and human welfare, also known as embedded liberalism. The IMF's influence in the global economy steadily increased as it accumulated more members.
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Economic approaches to creativity have focussed on three aspects — the impact of creativity on economic growth, methods of modelling markets for creativity, and the maximisation of economic creativity (innovation). In the early 20th century, Joseph Schumpeter introduced the economic theory of creative destruction, to describe the way in which old ways of doing things are endogenously destroyed and replaced by the new. Some economists (such as Paul Romer) view creativity as an important element in the recombination of elements to produce new technologies and products and, consequently, economic growth. Creativity leads to capital, and creative products are protected by intellectual property laws.
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Waste minimisation and resource maximisation for manufactured products can most easily be done at the design stage. Reducing the number of components used in a product or making the product easier to take apart can make it easier to be repaired or recycled at the end of its useful life. In some cases, it may be best not to minimise the volume of raw materials used to make a product, but instead reduce the volume or toxicity of the waste created at the end of a product's life, or the environmental impact of the product's use. (See section Durability).
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The final stage of the process is to examine these scenarios to determine what are the most critical outcomes; the 'branching points' relating to the 'issues' which will have the greatest impact (potentially generating 'crises') on the future of the organisation. The subsequent strategy will have to address these – since the normal approach to strategy deriving from scenarios is one which aims to minimise risk by being 'robust' (that is it will safely cope with all the alternative outcomes of these 'life and death' issues) rather than aiming for performance (profit) maximisation by gambling on one outcome.
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Accessed 2 Jan 2007.. The council aimed to lead by example with best practices.North Shore City Council. "Environmental Education:North Shore City Council leading by example" , North Shore City Council, undated. Accessed 2 Jan 2007. The library design incorporated several notable features, including the maximisation of natural light, the use of recyclable material, including reuse of grey water, and a natural ventilation and cooling system to limit energy costs. After the Environment Court decision (see below) this design underwent some modification, but the library opened on 17 December 2009 with a formal opening ceremony in February 2010.
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In other words, using the market system has the same outcome as choosing the individual utility maximisation and cost minimisation plans. This is an important result when put into a macro level perspective because it implies that there exists a set of prices for inputs and outputs in the economy such that the profit-maximising behaviour of firms along with the utility-maximizing actions of individuals results in the demand for each good equaling the supply in all markets. This means that a competitive equilibrium can exist. The merit of a competitive equilibrium is that an efficient allocation of resources is achievable.
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These names survive in place names such as Buaile h'Anraoi in Kilcommon where the landscape still shows very clearly the layout of the Rundale system. The practise of booleying provided a safety valve in that it allowed maximisation of available human resources. Seasonal migration to Scotland and England superseded this ancient system and went hand-in-hand with more permanent emigration to the USA. Booleying alleviated pressure on the growing crops and provided fresh pasture for livestock while the migratory worker to the potato fields of Ayrshire or the Lothians earned sufficient income to allow him and his family to live at home for most of the year.
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The naked barley found at Sarazm is similar in morphology to the barley found in sites in Pakistan such as Mehrgarh and Nausharo, and also similar to the barley found in the earliest sites in China where barley was first found. The inhabitants were also involved in herding of mainly cattle, sheep and goat. The herding was oriented towards the maximisation of the secondary products (milk, wool, leather). The Sarazm III period corresponds to the peak of Sarazm's economy as the population had grown, building techniques improved and various economic activities such as pottery (using the newly invented slow rotating wheel) and more specialisation in metallurgy and other crafts.
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The outward journey must be made on the date shown on the ticket, and the return journey can be made at any time within one calendar month from this date. As the name implies, the ticket is generally intended for use outside peak times. Typically train operating companyies prevent use of this type of ticket during key commuting hours of weekday mornings and early evening, especially for services beginning or terminating in London, at which times higher fares may be charged. The times at which an Off-Peak fare is valid are set by the relevant train operator according to various factors, from levels of peak demand on the route in question to revenue maximisation.
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Under the advice of several friends, including Ronald Coase, he returned to Hong Kong as a professor in University of Hong Kong to support the economic reforms of China. Unlike modern mainstream economists, Cheung's analysis does not rely on advanced mathematical techniques but solely on the two basic building blocks of price theory: one is the axiom of constrained maximisation and the other, the law of demand (one that already incorporates the law of diminishing marginal returns). One of the constraints which he emphasizes most is transaction cost (or better termed institutional cost). His theory of share tenancy has enhanced the understanding of contractual arrangement, which was largely ignored by neo- classical economists.
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251Burdon, NT listing, 2013 Before engaging the architect, Dr. Lyons spent a year thinking about how he actually lived. He produced a short brief that focused on elements such as a pool to be integrated into the house design, maximisation of views and separation of living areas. The family kept six cars at that time and ease of parking was another consideration in the design. Dr Lyons' first wife was musical and provision was made for this with original plans showing a grand piano in a music room and a rise in the floor level between the family room and the dining room, which enabled a "stage effect" (Dr Lyons' words) for small performances.
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Keen's work has also focused on refuting the neoclassical theory of the firm, which argues that firms will set marginal revenue equal to marginal cost. Keen notes that empirical research finds real firms set price well above marginal cost: they charge a markup, often cost-plus pricing. Keen's article on "profit maximisation, industry structure, and competition"Steve Keen & Russel Standish (2006):"Profit Maximization, Industry Structure, and Competition: A critique of neoclassical theory" , Physica A 370: 81–85 has had counter-arguments by Paul Anglin.Paul Anglin (2008): On the proper behavior of atoms: A comment on a critique Physica A 387: 277–280 Chris Auld has attempted to show that Keen & Standish's argument is inconsistent with standard assumptions used in perfect competition.
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Many critiques of economics or economic policy begin from the accusation that abstract modelling is missing some key social phenomenon that needs to be addressed. Economic sociology is an attempt by sociologists to redefine in sociological terms questions traditionally addressed by economists. It is thus also an answer to attempts by economists (such as Gary Becker) to bring economic approaches – in particular utility maximisation and game theory – to the analysis of social situations that are not obviously related to production or trade. Karl Polanyi, in his book The Great Transformation, was the first theorist to propose the idea of "embeddedness", meaning that the economy is "embedded" in social institutions which are vital so that the market does not destroy other aspects of human life.
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It is also because of this reason that works that may be regarded as representing their audiences' values, ideas and beliefs, and attain commercial success, will at the same time become the subject of unsurmountable pressures -...losing success once power actors manage to substitute their society's message for their own. De Lizaur, emerging from the field of Literary Studies, also developed a full literary theory that accounts for popular works' aesthetics, strategies, resources, genres, and meaningful criticism, as opposed to a criticism that may reject it. Certain postmodern theorists, however, proposed more pessimistic interpretations about capitalist popular culture. According to the postmodern sociologist Baudrillard, the individual is trained into the duty of seeking the relentless maximisation of pleasure lest he or she become asocial.Baudrillard.
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335–336 The Ramsey model is today acknowledged as the starting point for optimal accumulation theory although its importance was not recognised until many years after its first publication. The main contributions of the model were firstly the initial question Ramsey posed on how much savings should be and secondly the method of analysis, the intertemporal maximisation (optimisation) of collective or individual utility by applying techniques of dynamic optimisation. Tjalling C. Koopmans and David Cass modified the Ramsey model incorporating the dynamic features of population growth at a steady rate and of Harrod-neutral technical progress again at a steady rate, giving birth to a model named the Ramsey–Cass–Koopmans model where the objective now is to maximise household's utility function.
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Pagano has shown that while public goods are typically undersupplied, positional goods are typically oversupplied. For what concerns instead intelligence scarcity he has suggested that bounded rationality has many dimensions each of which can be represented as a maximisation problem with some additional constraints, only at the cost of contradicting the scarcity assumption at a higher level. In the literature on the theory of the firm the main contribution of Pagano has been the development of the concept of organizational equilibrium. Combining the literatures of the Neo- institutional and Radical schools he has defined organizational equilibria as situations where a set of rights (technological characteristics of the resources) brings about technological characteristics of the resources (rights) which are consistent with this set of rights (technology).
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In ParkingEye, the appellant, Mr Beavis, was the owner and driver of a vehicle which he parked in a retail shopping car park adjacent to Chelmsford railway station. The owner of the retail site and car park, British Airways Pension Fund (BAPF), had contracted ParkingEye Ltd, the respondent, to provide "a traffic space maximisation scheme". The scheme involved the erection at the entrance to and throughout the car park of prominent notices, including the statements "2 hour max stay" and "Parking limited to 2 hours", coupled with the further notice "Failure to comply ... will result in a Parking Charge of £85". Underneath, it also stated: "By parking within the car park, motorists agree to comply with the car park regulations".
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The economics of scientific knowledge is an approach to understanding science which is predicated on the need to understand scientific knowledge creation and dissemination in economic terms. The approach has been developed as a contrast to the sociology of scientific knowledge, which places scientists in their social context and examines their behavior using social theory. The economics of scientific knowledge typically involves thinking of scientists as having economic interests with these being thought of as utility maximisation and science as being a market process. Modelling strategies might use any of a variety of approaches including the neoclassical, game theoretic, behavioural (bounded rationality) information theoretic and transaction costs. Boumans and Davis (2010) mention Dasgupta and David (1994) as being an interesting early example of work in this area.
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Rather than viewing Andrews as having denied profit maximisation Devine suggests that one should view his work as having raised 'the possibility that our existing method of theorizing may give wrong clues as to how profits maybe maximised.' For Devine the main thrust Andrew's argument is directed against 'the influence of atomistic methodology, which it is easy to argue from but difficult to argue to'. This is the methodology that, from Andrews's point of view, misleadingly focuses attention upon the equilibrium position of the firm. In the long run, Andrews argued, it is 'possible to question the analytical independence of cost and demand functions, which marginal equilibrium theorists take for granted and which, indeed, is essential for the formal validity of their work'.
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This is interpreted as profit maximisation. A firm’s maximum output, like that of an economy as a whole, will be attained only if an invisible hand leads employees, each seeking his or her own satisfaction, to promote an end which is no part of their intention; so like Lerner, Arrow and Debreu relied on a powerful premise (in their case embodied in definitions) to do much of the work. Equilibrium for exchange is interpreted as meaning that the individual’s utility should be maximised over the positions obtainable from the endowment through exchange, these being the positions whose value is no greater than the value of his or her endowment, where the value of an allocation is its dot product with the price vector.
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The modifications are attributed to Maunsell's Chief Draughtsman James Clayton, who had transferred to Ashford railway works in 1914 from Derby works. They were the result of cooperation between the South Eastern and Chatham Railway (SECR) and the Great Western Railway (GWR) when Maunsell was seconded to the Railway Executive Committee during the First World War. The aim was to create a series of standard freight and passenger locomotives for use throughout Britain, and meant that Clayton was privy to the latest GWR developments in steam design. These included streamlined steam passages, long- travel valves, the maximisation of power through reduced cylinder sizes and higher boiler pressure. Maunsell initiated trials with Urie N15 No. 442 in 1924, and proved that better performance could be obtained by altering the steam circuit, valve travel and draughting arrangements.
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Sustainable tourism seeks to increase tourism visits and revenues while preserving vulnerable heritage and ecological sites. This may be accomplished by attracting visitors to repaired or reconstructed sites, using heritage marketing to promote a feeling of authenticity. According to a paper published in the Journal of Sustainable Tourism, a visitor's experiences can be enhanced when substituting the contrived for the genuine, though this may also inspire a potentially deleterious desire for follow-up visits to the real thing: objectively authentic sites untouched by repair or rejuvenation. Feelings of authenticity at a tourist site are thus implicitly linked to sustainable tourism; as the maximisation of existential "felt" authenticity at sites of limited historical provenance increases the likelihood of return visits and lessens the desire for visits to genuine sites.
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This caused a spike in the price of pepper, which enticed the English East India Company (EIC) to enter this market aggressively in the years after 1672. Previously, one of the tenets of the VOC pricing policy was to slightly over- supply the pepper market, so as to depress prices below the level where interlopers were encouraged to enter the market (instead of striving for short-term profit maximisation). The wisdom of such a policy was illustrated when a fierce price war with the EIC ensued, as that company flooded the market with new supplies from India. In this struggle for market share, the VOC (which had much larger financial resources) could wait out the EIC. Indeed, by 1683, the latter came close to bankruptcy; its share price plummeted from 600 to 250; and its president Josiah Child was temporarily forced from office.
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Contemporary economic sociology focuses particularly on the social consequences of economic exchanges, the social meanings they involve and the social interactions they facilitate or obstruct. Influential figures in modern economic sociology include Fred L. Block, James S. Coleman, Paula England, Mark Granovetter, Harrison White, Paul DiMaggio, Joel M. Podolny, Lynette Spillman, Richard Swedberg and Viviana Zelizer in the United States, as well as Carlo Trigilia, Donald Angus MacKenzie, Laurent Thévenot and Jens Beckert in Europe. To this may be added Amitai Etzioni, who has developed the idea of socioeconomics, and Chuck Sabel, Wolfgang Streeck and Michael Mousseau who work in the tradition of political economy/sociology. The focus on mathematical analysis and utility maximisation during the 20th century has led some to see economics as a discipline moving away from its roots in the social sciences.
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The environmental aspects of the school were also critical; maximisation of natural daylight, use of natural ventilation, recycling of rainwater for use in toilets and the use of biomass, recycled timber waste, to generate heat and power. The school was designed collaboratively by the architects, an educationalist and also the school itself. At one time, Whitefield School had four sites - Whitefield Lower Mixed, the lower mixed-sex site located in Alexandra Park in Fishponds,(subsequently an Adult Education Centre), Whitefield Lower Girls on Fishponds Road, Eastville (subsequently demolished for housing) and Whitefield Lower Boys located at Greenbank. Students 11-13 spent the first three years at one of the lower schools, before transferring to the Whitefield Fishponds Upper School, adjacent to the current site of the Bristol Metropolitan College, for years 14-18 (or Sixth Form as the last two years of school were then known).
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In the first part of his career Pagano has challenged the long tradition that sees economics as a relation between means and ends. Within this context his main contribution has been to endogenise the definition of both means and ends, and to clarify that by considering only leisure as argument of the utility function is tantamount to assuming that workers are physical 'things' not different from iron instead of human beings. On the basis of this critique various welfare theorems could be re-stated: the sum of utilities and productivity of work instead of the utility alone have to be equal in each use; the technological efficiency is not any more an essential requirement for economic efficiency; and the maximisation of profit does not any more imply an efficient allocation of work. Following this line of research Pagano has enlarged the standard economic view about scarcity.
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The site was formerly a contaminated petrol filling station at 417 Barlow Moor Road, an arterial route connecting Cheshire to Manchester city centre via the suburb of Chorlton-cum-Hardy. The site was acquired by the Irwell Valley company in the late 1990s. The company, concerned it was acquiring the image of a "worthy-but-dull" organization,Building for Life instigated a limited invited architectural competition in 1999 to design a scheme for approximately 20 homes on the site and invited four high-profile architects including Stephenson Bell (now Stephenson:ISA Studio), MBLC and Sterling Award winners Ian Simpson and Stephen Hodder to compete for the instruction. Each submission was submitted anonymously and the design brief was to provide "space, light and warmth, flexibility, integration of external environment, and the maximisation of natural heat, ventilation and light" with Manchester City Council planning department requiring a distinctive landmark design providing variety to a location predominantly made up of two-storey semi-detached residential properties and low-rise retail units.
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Economic democracy replaces the dynamics of the capitalist market economy leading to growth per se with a new social dynamic aiming at the satisfaction of demos' needs. If the satisfaction of demotic needs does not depend, as at present, on the continuous expansion of production to cover the 'needs' that the market system itself creates and if society is reintegrated with the economy, then there is no reason why the present instrumentalist view of nature will continue conditioning human behaviour. Particularly so, since unlike socialist models which are 'centralist', the aim of production in an Inclusive Democracy is not economic growth, but the satisfaction of the basic needs of the community and those non-basic needs for which members of the community express a desire and are willing to work extra for. This implies a new definition of economic efficiency, based not on narrow techno-economic criteria of input minimisation/output maximisation as in socialist models like Parecon, but on criteria securing full coverage of the democratically defined basic needs of all citizens as well as of the non-basic needs they decide to meet, even if this involves a certain amount of inefficiency according to the orthodox economics criteria.
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On 13 December 2010, Ofcom also opened an investigation to consider a complaint submitted by BT against Sky concerning the requirement on BT to provide Sky with information on BT Visions total number of pay subscribers and total number of customers. On 29 March 2011, Ofcom concluded its assessment of BT's complaint, issuing a decision to give a direction to Sky in respect of compliance with Condition 14A of each of the Television Licensable Content Service licences for Sky Sports 1 and Sky Sports 2. The direction states that a clause in Sky's agreement for the wholesale supply of Sky Sports 1 and Sky Sports 2 to BT, requiring BT to provide Sky with BT Vision's total number of pay subscribers and total number of customers is in breach of Condition 14A(1)(d) and required that clause to be removed forthwith. On 8 August 2012, the Competition Appeal Tribunal ruled that Ofcom's core competition concern about the way BSkyB sold its sports channels wholesale to competitors was "unfounded", namely that BSkyB had deliberately withheld wholesale supply of its premium channels from other retailers, preferring to be entirely absent and that in doing so had been acting on strategic incentives unrelated to normal commercial considerations of revenue/profit maximisation.
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