Investment-decision criteria and resource allocation in transition

This paper develops an analytical framework tointegrate static and dynamic effects of theoreticallyrelevant and practically applied investment-decisioncriteria on the marginal rate of substitution betweeninvestment and labour. The new propositions are relatedto the ranking of relative present value, Kalecki'sindex of efficiency and the static version ofrecoupment period criteria. Investors in post-communisteconomies have switched from the recoupment period tothe criteria based on discounting. This is aninstitutional change typical for these economies. Itimplies a choice of techniques with lower investmentintensity, which is best supported by government'spolicy to promote labour mobility.     

Work,fertility, and the status of women in Mexico

Among the major transformations affecting Mexican women in recent decades were their growing participation in the labor market and the fertility decline that began in the 1970s with widespread access to contraception. Data from 3 major Mexican fertility surveys, employment surveys, and censuses are used to analyze changes in female employment and their determinants during the years of economic recession in the 1980s. The main characteristics of the Mexican fertility decline are described, and the relationship between fertility and female employment before and during the economic recession is scrutinized for different social sectors. Suggestions for research on the affects of these changes on the social condition of Mexican women are then presented. The proportions of Mexican women over 12 years old who declared themselves economically active increased from 16% in 1970 to 21% in 1979 and 32% in 1987. Until the 1970s the majority of employed women were young and single or childless. But a clear increase occurred between 1976-87 in the economic participation of older women in union. Economic participation of low income and less educated women increased as they sought work or created their own in response to deteriorating living conditions during the recession. Young women with intermediate or higher educational levels did not increase their relative presence in the labor market in the same period. The marked increase in economic participation of less educated women in union with small children was accompanied by a significant increase in manual occupations. Between 1982-87, the proportion of women aged 20-49 in nonsalaried manual occupations rose from 7.6% to 18.5%. Mexico's fertility decline has been well documented. The total fertility rate declined from 6.3 in 1973 to 3.8 in 1986, while the percentage of women in union using a contraceptive method increased from 30.2 in 1976 to 52.7 in 1987. Fertility differentials have been declining but are still considerable. The inhibitory influence of children on female labor force participation in Mexico is clear, but in the years of economic recession the most notable increase in female workers was in women with 3 or more children of whom the youngest was under 3. It appears that the influence of children on women's employment depends on the socioeconomic status of the woman as well as on the dynamism or sluggishness of the labor market. Research is needed on the significance of changes in fertility and female employment for women's status in Mexico. Several recent works have presented results of microsocial analyses of the ways in which women experience changes in their lives resulting from fertility and employment decisions. A methodological strategy for studying these changes and their influence on women's status should focus on comparisons between different generations and birth cohorts, different types of employment, and different socioeconomic statuses. Both macrosocial and microsocial forms of analysis are needed to provide a full picture.     

Beyond proportionate punishment: Difficult cases and the 1991 Criminal Justice Act

Within six months of implementation, the Criminal Justice Act 1991, which had been hailed as the most important piece of criminal justice legislation in England and Wales for many years, was already being undermined in practice, and a new Act, which amends or even reverses some of its more progressive principles, was brought before Parliament. This paper looks at some problems of proportionality in practice — through discussion of penological principles, and through consideration of the kinds of cases which are most difficult for a desert approach. Alternative ideas are examined to see whether they could offer any better framework for penal policy and practice. A mixed theory is advocated, with parsimony as its most important principle.I am grateful to Nicola Lacey, Mike Levi, Mike Maguire and Andrew Von Hirsch for comments on the first draft of this paper.