Reinstituting the Economic Process: (Re)embedding the Economy in Society and Nature

Polanyi argued that the project of creating a fully self-regulating market was utopian, in the sense of impossible. However, movement towards this utopia, the ever greater but never completed process of disembedding the economy from both society and nature, creates growing dislocations and tensions which call forth a counter movement. This double movement may be thought of as successive changes in the way in which the economic process is instituted. The focus of the paper is on the meaning of embeddedness, the ways in which the economy was reinstituted during the Great Transformation and the subsequent counter movements, and alternative approaches to further reinstituting the economy in ways that disembed it further or (re)embed it more firmly in society and nature. It is argued that prior to the creation of the capitalist market the economy was organically embedded in society and nature. However, the creation of separate economic institutions, the institution of the economic process as a distinct system with its own laws of motion, severed these organic links and the economy came to dominate both society and nature. Here, however, the symmetry between society and nature ends. Society has the capacity for conscious, purposeful action; nature does not. For the economy to be reinstituted in ways that create a sustainable organic relationship with nature, it must first be reinstituted in ways that bring it under social control.     

On “Black Swans” and “Perfect Storms”: Risk Analysis and Management When Statistics Are Not Enough

Two images, “black swans” and “perfect storms,” have struck the public's imagination and are used—at times indiscriminately—to describe the unthinkable or the extremely unlikely. These metaphors have been used as excuses to wait for an accident to happen before taking risk management measures, both in industry and government. These two images represent two distinct types of uncertainties (epistemic and aleatory). Existing statistics are often insufficient to support risk management because the sample may be too small and the system may have changed. Rationality as defined by the von Neumann axioms leads to a combination of both types of uncertainties into a single probability measure—Bayesian probability—and accounts only for risk aversion. Yet, the decisionmaker may also want to be ambiguity averse. This article presents an engineering risk analysis perspective on the problem, using all available information in support of proactive risk management decisions and considering both types of uncertainty. These measures involve monitoring of signals, precursors, and near‐misses, as well as reinforcement of the system and a thoughtful response strategy. It also involves careful examination of organizational factors such as the incentive system, which shape human performance and affect the risk of errors. In all cases, including rare events, risk quantification does not allow “prediction” of accidents and catastrophes. Instead, it is meant to support effective risk management rather than simply reacting to the latest events and headlines.     

Asteroid Risk Assessment: A Probabilistic Approach

Following the 2013 Chelyabinsk event, the risks posed by asteroids attracted renewed interest, from both the scientific and policy‐making communities. It reminded the world that impacts from near‐Earth objects (NEOs), while rare, have the potential to cause great damage to cities and populations. Point estimates of the risk (such as mean numbers of casualties) have been proposed, but because of the low‐probability, high‐consequence nature of asteroid impacts, these averages provide limited actionable information. While more work is needed to further refine its input distributions (e.g., NEO diameters), the probabilistic model presented in this article allows a more complete evaluation of the risk of NEO impacts because the results are distributions that cover the range of potential casualties. This model is based on a modularized simulation that uses probabilistic inputs to estimate probabilistic risk metrics, including those of rare asteroid impacts. Illustrative results of this analysis are presented for a period of 100 years. As part of this demonstration, we assess the effectiveness of civil defense measures in mitigating the risk of human casualties. We find that they are likely to be beneficial but not a panacea. We also compute the probability—but not the consequences—of an impact with global effects (“cataclysm”). We conclude that there is a continued need for NEO observation, and for analyses of the feasibility and risk‐reduction effectiveness of space missions designed to deflect or destroy asteroids that threaten the Earth.     

Towards a conceptual model of youth leadership development

Youth leadership development is a growing area of research and practice in recent years. This paper will present a conceptual model highlighting the key components necessary in cultivating young leaders including skills development, environmental factors and commitment to action. In each of these categories, a number of aspects, supported by international literature known to be important in developing leaders, are presented. In the skills section, important factors include social and emotional intelligence, the ability to collaborate with others (including problem solving and conflict resolution), the ability to articulate a vision and finally the ability to gain insight or knowledge into the particular subject area. Environmental conditions include having authentic opportunities that enable young people to practise and hone their skills. In terms of action, both the ability to inspire and motivate followers through high expectations and role modelling pave the way to having a good team on which to build youth leadership. This, together with mastery as developed through the ability to persist and endeavour, is critical to any successful youth leader.     

Developing a Core Competency Model and Educational Framework for Primary Maternity Services: a national consensus approach

BackgroundAn appropriately educated and competent workforce is crucial to an effective health care system. The National Health Workforce Taskforce (now Health Workforce Australia) and the Maternity Services Inter-Jurisdictional Committee funded a project to develop Core Competencies and Educational Framework for Primary Maternity Services in Australia. These competencies recognise the interdisciplinary nature of maternity care in Australia where care is provided by general practitioners, obstetricians and midwives as well as other professionals.ParticipantsKey stakeholders from professional organisations and providers of services related to maternity care and consumers of services.MethodsA national consensus approach was undertaken using consultation processes with a Steering Committee, a wider Reference Group and public consultation.FindingsA national Core Competencies and Educational Framework for Primary Maternity Services in Australia was developed through an iterative process with a range of key stakeholders. There are a number of strategies that may assist in the integration of these into primary maternity service provider professional groups’ education and practice.ConclusionsThe Core Competencies and Educational Framework are based on an interprofessional approach to learning and primary maternity service practice. They have sought to value professional expertise and stimulate awareness and respect for the roles of all primary maternity service providers. The competencies and framework described in this paper are now a critical component of Australian maternity services as they are included in actions in the newly released National Maternity Services Plan and thus have relevance for all providers of Australian maternity services.     

Histories of poverty and self-rated health trajectories

This paper investigates the dynamic relationship between poverty histories and self-rated health trajectories. We are interested in patterns of change in individuals' health over time and the ways in which such patterns are structured by continuity and change in poverty experiences. Data, collected for adults aged 25 and older in 1984 (N = 7,258), are from the 1968-1996 annual waves of Panel Study of Income Dynamics (PSID). Individual growth curves allow us to investigate health trajectories as continuous processes, as well as individual and group heterogeneity in these trajectories. We find that, on average, health deteriorates slowly over time, but there is significant variation in health in 1984 and the rate at which health declines. Histories of poverty partly accounted for the sources of individual differences in self-rated health in 1984, but they were not related to health change over time. Although increasing incomes were better for self-rated health than falling incomes, current economic circumstances did not erase the health effects of earlier poverty experiences.     

What is Adult Attachment?

This paper explores the concept of adult attachment. Although attachment theory is now getting a great deal of attention, there is not yet a clear picture of what it means to be attached in adulthood or what the clinical applications of the approach might be. Using Bowlby’s distinctive ethological-evolutionary framework and updating it with findings from neurobiology and attachment research, it is proposed there is an attachment behavioral system that operates throughout the lives of adults and that this changes the way we understand our clients’ distress and carry out psychotherapy.

Playful Seriousness: The Virtue of Eutrapelia in Dialogue

In Nichomachean Ethics Aristotle identified three moral spheres associated with human communication: speaking with decorum, conversation, and social conduct. Each sphere has a corresponding virtue. The virtue in speaking with decorum is truthfulness, the virtue in conversation is eutrapelia (refined, playful wit), and the virtue in social conduct is friendliness. Eutrapelia is gained in part by education and in part by personal experience. One learns to habituate oneself in conversation to avoid the excessive vice of bomolochos and the deficient vice of agroikos. A communicator enacts phronesis to deliberate good communicative choices, relying on one’s awareness of ethics, tact, and ingeniousness. Eutrapelia functions in dialogue to reveal unexpected connections in language, to open new interpretations in linguistic speculation, to negotiate meaning in the play of language, and to potentially shift one’s horizon of understanding about the content under consideration. Enacting eutrapelos as both refined humor and keen insight offers a place of respite that allows one to engage in the playful seriousness that is the hermeneutic work of dialogue.