The continuing salience of race: Discrimination and diversity in South Africa

The end of apartheid has brought a resurgence of research into racial identities, attitudes and behaviour in South Africa. The legacy of systematic racial ordering and discrimination under apartheid is that South Africa remains deeply racialised, in cultural and social terms, as well as deeply unequal, in terms of the distribution of income and opportunities. South Africans continue to see themselves in the racial categories of the apartheid era, in part because these categories have become the basis for post-apartheid ‘redress’, in part because they retain cultural meaning in everyday life. South Africans continue to inhabit social worlds that are largely defined by race, and many express negative views of other racial groups. There has been little racial integration in residential areas, although schools provide an important opportunity for inter-racial interaction for middle-class children. Experimental and survey research provide little evidence of racism, however. Few people complain about racial discrimination, although many report everyday experiences that might be understood as discriminatory. Racial discrimination per se seems to be of minor importance in shaping opportunities in post-apartheid South Africa. Far more important are the disadvantages of class, exacerbated by neighbourhood effects: poor schooling, a lack of footholds in the labour market, a lack of financial capital. The relationship between race and class is now very much weaker than in the past. Overall, race remains very important in cultural and social terms, but no longer structures economic advantage and disadvantage.     

Fueling global crime: the mechanics of money laundering

Money laundering has been practiced in one form or another for thousands of years, dating back well before the birth of Christ, when highly motivated merchants moved their wealth beyond the confiscatory grasp of local rulers. Only in the recent past was the name ‘money laundering’ given to this financial hocus‐pocus. Popularly believed to have derived from Mafia ownership of Laundromats through which an endless stream of cash generated by extortion, prostitution and gambling flowed, ‘money laundering’ did not attract serious interest until the 1980s, and even then it fell primarily within a drug trafficking context. The phenomenon has pushed its way into the public consciousness as a mechanism used not only by traditional ‘underworld’ organizations, but some corporate and financial sector entities as well as individuals. Perhaps the events of 11 September 2001 did more to change the perception of money laundering as public discourse is now focused on methods used by terrorists to secure financing for their nefarious deeds. In point of fact, transnational criminality generally is exploding on a global level and money laundering is the lynchpin of their success. This article presents an overview summary of basic money laundering methods and is meant to help lay the foundation for further exploration.     

Valuing Massachusetts' Fixed Assets: A Contemporary Solution To An Historical Problem

The "Miracle of Massachusetts" is a slogan of the past. The FY 1992 deficit was projected to be over one billion dollars. In this article the authors describe the efforts of a dedicated group of government employees who created innovative solutions to long-standing problems. Massachusetts' financial statements could not obtain a "clean" audit opinion because the state's fixed asset records were unauditable. The group developed and implemented an acceptable method for valuation of those assets. This required inventorying all the fixed assets of the state, then valuing each of these items in accordance with either an historical cost or an acceptable surrogate.