Wave-like global economic ripple response to Hurricane Sandy

Tropical cyclones range among the costliest disasters on Earth. Their economic repercussions along the supply and trade network also affect remote economies that are not directly affected. We here simulate possible global repercussions on consumption for the example case of Hurricane Sandy in the US (2012) using the shock-propagation model Acclimate. The modeled shock yields a global three-phase ripple: an initial production demand reduction and associated consumption price decrease, followed by a supply shortage with increasing prices, and finally a recovery phase. Regions with strong trade relations to the US experience strong magnitudes of the ripple. A dominating demand reduction or supply shortage leads to overall consumption gains or losses of a region, respectively. While finding these repercussions in historic data is challenging due to strong volatility of economic interactions, numerical models like ours can help to identify them by approaching the problem from an exploratory angle, isolating the effect of interest. For this, our model simulates the economic interactions of over 7,000 regional economic sectors, interlinked through about 1.8 million trade relations. Under global warming, the wave-like structures of the economic response to major hurricanes like the one simulated here are likely to intensify and potentially overlap with other weather extremes.

Considering the Counterfactual: Real Wages in the First Industrial Revolution

We investigate a structural model of demographic-economic interactions for England during 1570 to 1850. We estimate that the annual rate of population growth consistent with constant real wages was 0.4% before 1760 but 1.5% thereafter. We find that exogenous shocks increased population growth dramatically in the early decades of the Industrial Revolution. Simulations of our model show that if these demographic shocks had occurred before the Industrial Revolution the impact on real wages would have been catastrophic and that these shocks were largely responsible for very slow growth of real wages during the Industrial Revolution.

Spatial distribution of heavy metals in surface sediments of Kalametiya Lagoon in southern Sri Lanka; insight towards pollution status and socio-economic interactions

Heavy metal (HM) pollution has become a serious threat to coastal aquatic ecosystems. This study, therefore, aimed at assessing the spatial distribution of selected heavy metals/metalloids including Arsenic (As), Cadmium (Cd), Chromium (Cr), Lead (Pb), and Mercury (Hg) in surface sediment (0–15 cm) samples collected across Kalametiya Lagoon in southern Sri Lanka. Forty-one (41) grid points of the lagoon were sampled and the sediment samples were analyzed for HM content by using ICP-MS. A questionnaire survey was carried out to investigate the possible sources for HM pollution in Kalametiya Lagoon. Water pH and salinity showed significant variation across the lagoon. Overall mean value of pH and salinity were 6.68 ± 0.17 and 2.9 ± 2.2 PSU respectively. The spatial distribution of the heavy metals was not monotonic and showed a highly spatial variation. The kernel density maps of the measured heavy metals demarcated several different areas of the lagoon. The mean contents of As, Cd, Cr, Hg, and Pb were lower than that of threshold effect level (TEL) however, higher for Hg at the North Inlet. Nevertheless, it was still lower than potential effect level (PEL). Socio-economic interactions have dramatically reduced during the past two decades. Industrial sewage, river suspended sediments and agrochemicals such as fertilizers, pesticides were reportedly identified as the possible sources for heavy metal loads. Accumulation of toxic heavy metals can be minimized by detouring the water inflow to the lagoon.

Contextualization of Maslahah Jasser Auda’s Thought in Islamic Economy

The Division of Maslahah can be deduced into five kinds, namely; (1) based on the purpose of the day/Time, (2) based on the level of necessity, (3) based on its coverage (range), (4) based on the presence or absence of changes and (5) based on the presence or absence of the Shariah in the assignment. Maslahah based on the purpose of his day divided into two levels, namely; Maslahah the world and the Hereafter." Maslahah the world is the obligation or rule of Shara ' related to the laws of Muamalah instead (social and economic interactions). While Maslahah Hereafter is the obligation or restriction of Shara' about the rules of Aqidah (Tauhid) and Worship. Yasser Auda divided the Maslahah on the aspect of the need into three categories: (a) Maslahah al-Dlaruriyyah (primary benefit), (b) Maslahah al-Hajiyyah (secondary benefit) and (c) Maslahah al-Tahsiniyyah (benefit Tertiary). The concept of Maqasid offered by Auda is identical with Maslahah and the view of the Ulama about Maslahah and all type. Jasser Auda defines maqāṣīd in four meanings, first, the wisdom behind a law. Second, a good end goal that the Law was trying to achieve. Third, the divine purpose group and the moral concept are the basis of Law. Fourth, maṣālih. In the maqāṣīd idea offered by Auda, values and humanitarian principles are the most important. Auda also tried to reconstruct the old maqāṣīd concept, which is protection and preservation in the direction of the maqāṣīd theory, which refers to development and rights. The implications of the application of maqāṣid al-sharī’ah. Using the maṣlaḥah instrument in the context of the Islamic economy in Indonesia are used to fulfil the needs of sharia policies in the economic sector which do not only revolve around Islamic banking matters.

China and India will clash over border again

Significance Under an agreement struck last month, the two sides dismantled forward-deployed encampments and returned to their positions prior to the onset of the crisis, according to a statement from India’s defence ministry. However, troops continue to face off elsewhere along the border. Impacts China is a hot-button issue for Indian nationalism, but the reverse is not the case, so Beijing may have more room for flexibility. Delhi's efforts to reduce India's economic interactions with China will continue. Quadrilateral security cooperation between India, the United States, Japan and Australia will gather momentum.

Successful artificial reefs depend on getting the context right due to complex socio-bio-economic interactions

Artificial reefs (ARs) are one of the most popular means of supporting marine ecosystem conservation and coastal fisheries, particularly in developing countries. However, ARs generate complex socio-bio-economic interactions that require careful evaluation. This is particularly the case for ARs outside no-take zones, where fish might be subject to enhanced exploitation due to easier catchability. Here, we conducted an interdisciplinary study on how ARs impact fish and fishing yields, combining mathematical and sociological approaches. Both approaches converge to confirm that fishery yields decline when ARs are exploited as if they were open access areas. This situation typically occurs in areas with weak governance and/or high levels of illegal fishing activity, both of which are common in many developing countries. To avoid these adverse effects and their associated ecological consequences, we recommend prioritizing the onset of a long-term surveillance system against illegal fishing activities, and adapting design and location of the ARs based on both and local and academic knowledge, before the deployment of ARs.

The structural architecture of international industry networks in the global economy

Globalisation continuously produces novel economic relationships mediated by flows of goods, services, capital, and information between countries. The activity of multinational corporations (MNCs) has become a primary driver of globalisation, shaping these relationships through vast networks of firms and their subsidiaries. Extensive empirical research has suggested that globalisation is not a singular process, and that variation in the intensity of international economic interactions can be captured by ‘multiple globalisations’, however how this differs across industry sectors has remained unclear. This paper analyses how sectoral variation in the ‘structural architecture’ of international economic relations can be understood using a combination of social network analysis (SNA) measures based on firm-subsidiary ownership linkages. Applying an approach that combines network-level measures (Density, Clustering, Degree, Assortativity) in ways yet to be explored in the spatial networks literature, a typology of four idealised international network structures is presented to allow for comparison between sectors. All sectoral networks were found to be disassortative, indicating that international networks based on intraorganisational ties are characterised by a core-periphery structure, with professional services sectors such as Banks and Insurance being the most hierarchically differentiated. Retail sector networks, including Food & Staples Retailing, are the least clustered while the two most clustered networks—Materials and Capital Goods—have also the highest average degree, evidence of their extensive globalisations. Our findings suggest that the multiple globalisations characterising international economic interactions can be better understood through the ‘structural architecture’ of sectoral variation, which result from the advantages conferred by cross-border activity within each.

Degrowing circular cities: emerging socio-technical experiments for Transition

The circular economy applied to the urban context is linked to sustainability objectives focused on environmental performances overlooking socio-political implications, in order to achieve a circular balance within the neoliberal paradigm of business-nature-society in a continuous growth scenario. This paper discusses this criticality, articulating a counter perspective based on the debate of degrowth, circularity and technology through the analysis of three cases of socio-technical assemblages: Transition Towns; Repair Cafes; Community Gardens. The research individuates the effectiveness of urban practices in which the circularity is implemented beyond purely economic interactions or eco-efficiency parameters, defining the potentialities of a degrowing circular city based on inclusiveness, social justice and reciprocity.