Limited Liability: Large Company Theory and Small Firms

Current enthusiasm for the 'enterprise culture' results in strong support for easy access to limited liability forms of business organisation. This has manifested itself in the creation of new limited liability vehicles such as the LLC and the LLP. The UK Company Law Review is examining ways of enhancing the attractiveness of the limited liability company to small business owners. This article examines the claims made for the 'efficiency' of limited liability and the applicability of these claims to small firms. It raises the importance of taking into account public policy issues beyond economic efficiency when considering the degree of risk taking and shifting to be encouraged. The article concludes that, although it is difficult to find rational methods of restricting access to limited liability, it does not follow that limited liability should be positively encouraged for all small firms. It is important to signal the limitations of limited liability.     

Are pre‐schoolers from female‐headed households less malnourished? A comparative analysis of results from Ghana and Kenya

This article compares household income level and pre‐schooler weight‐for‐age across household groupings that are differentiated by female headship variables which are reflective of the heterogeneity of female‐headed households. Data from Kenya indicate that it is the interaction of income and female headship at low‐income levels which promotes pre‐schooler nutritional status. For Ghana, incomes have to be quite large (in the upper tercile of the distribution) before a reduction in the child's likelihood of having a low weight‐for‐age is achieved through further income increases. We argue that an absence of complementary child health inputs is more likely for households in the Ghana sample, and that in this type of environment, differences in nurturing patterns, as proxied by headship status, will have a muted impact on child nutrition.     

Harold Dwight lasswell (1902–1978): In memoriam

Abstract

This is a study of various aspects of Marxist‐Leninist propaganda, in terms of the problems encountered in this field by any extremist ideology and movement.

The nature of ideology is briefly analyzed in order to outline the basic problem faced by an ideology that claims to have the “only solution” to all of the world's problems: a built‐in gap between the ideology and reality that, with the passage of time, becomes more obvious and more embarrassing. Some techniques used by Marxist‐Leninist propaganda in order to solve this problem are then discussed, in particular the building of an imaginary mental environment for believers in the ideology that is in large measure based on a redefinition of part of the vocabulary. The use of redefined words as a cryptic, internal language by the initiated is also briefly discussed.

The parallel use of seemingly sophisticated arguments and of disinformation techniques, the peculiar, but frequently used, extremist debating style, the claims of a “scientifically derived” ideology, and the acceptance of apparent absurdities by those who have a psychological need to believe in them are, likewise, briefly analyzed. The paper also notes the susceptibility of many persons, particularly of many intellectuals, to Marxist‐Leninist propaganda and the indirect influence that, through their assistance, Marxist‐Leninists have been able to exercise in the Western World.     

Counterterrorism Strategy in the Sahel

The GSPC—more recently titled Al Qaeda in the Maghreb—has maintained a small but significant level of terrorist unrest in the countries of the Sahel for a number of years. Although GSPC activities have been rather small-scale, they have added to the host of other security failures plaguing the region. The United State has begun devoting more attention to the regional security gaps and has started to implement an overall strategy in response. The more broadly-based approaches to dealing with security, economic, and political problems show promise, but only if the United States and regional countries maintain their focus on the long term.     

Symphony Concert Demand: Does Programming Matter?

We examine factors that determine attendance for major U.S. symphony orchestras over seven seasons. We find that performing more of the standard repertoire increases attendance but the choice of a composition that has a particular solo instrument does not affect attendance. Other management options that increase attendance include spending on advertising and broadcasting concerts. Own-price elasticity of demand and income elasticity are inelastic.     

CHINA’S NEW DIPLOMATIC HORIZON

<正>A new geopolitical vision for China will see more active global engagementAn"inflection point"in mathematics occurs when there is a change of curvature,say from concave to convex,at a particular point on a curve.There is now,at this particular point of time,an inflection point occurring in China’s diplomacy,as the country changes from reactive to pro-active in its