Trafalgar and the Decisive Naval Battles of the 21st Century

This year is the 200th anniversary of the battle of Trafalgar, the archetype of the traditional naval campaign. This article analyses the evolution of naval thinking about the decisive battle, explores its role in the world of the 21st century and identifies several other crucial battles that today's navies need to fight and win. It concludes that despite the differences brought about by technological transformation there is a surprising degree of continuity between the naval past and the naval present.     

Local government internal structure, external constraints and the median voter

This paper examines how internal structure and external constraints affect local government ability to meet voters' demands. It applies the revealed preference method to US counties to identify those that fail to satisfy the pure democracy outcome of the median voter hypothesis (MVH). Probit analysis identifies the factors associated with counties that satisfy the MVH. Internal government structure does not matter but restricting home rule increases the likelihood of satisfying the MVH equilibrium, the latter result consistent with the leviathan model. The systematic differences found for urban and rural county governments reinforce this conclusion.     

Tradeable emission permits and the control of greenhouse gases

This article reiterates the case for tradeable permits as a global policy option for limiting greenhouse gas emissions, and considers the detailed design of a global tradeable‐permit regime, emphasising the importance of the initial assignment of property rights, and arguing that the relevant property rights in this case are the rights of every member of the world community to share in a sustainable global atmosphere and climate. The allocation of permits should therefore be done on a per capita basis across the world community, with the result that rents generated by the process of reducing carbon emissions would accrue to non‐polluters, most of whom live in the ‘South’. The international transfers of income and wealth implied by the proposed scheme are large but feasible. There is therefore a real prospect that an international convention on carbon dioxide emissions could end the debt crisis and finance sustainable development in the South..     

Malaysia's new economic policy and the global economy: The evolution of ethnic accommodation

Abstract

Developing countries commonly must deal not only with issues of economic development, but also with the problems associated with a multi‐ethnic population. Most analyses of ethnic programs, however, focus on the domestic political economy and fail to appreciate the importance of international factors. In this essay, I note that Malaysia's New Economic Policy (NEP) and its successors have been affected not only by the domestic ethnic situation but also by the global economy. Furthermore, I argue that current international pressures and constraints have forced a re‐evaluation of the NEP in the past decade. While a concern for ethnic factors is by no means absent from the policy‐making process today, ethnic concerns are now overshadowed by the realities of the international economic order and the government's realization that ethnic accommodation can only be successful within the confines of an outward‐looking, expanding economy.