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Topic Review
Privatization in Australia
Privatization in Australia is the process of transiting a public service or good to the private sector through a variety of mechanisms that was commenced by the Federal Government in the 1990s, receiving bipartisan support. More generally, privatization is a set of economic policies that is part of a broader system of deregulation of government services, underpinned by the ideology of neoliberalism, in order to achieve economic outcomes of growth, efficiency and productivity. Some examples of sectors that have been privatized include finance, telecommunications and infrastructure. Australia's public service has also transformed with the introduction of New Public Management (NPM) in the late twentieth century which altered public administration models to appear more "business-like" through performance evaluations that emphasize efficiency, productivity and service delivery. Another definition of privatization is reliance on "more on private institutions and less on government, to satisfy people’s needs”. The concept of privatization can be construed in a narrow or broad sense. The narrow scope of privatization is portrayed as the sale of public goods, while the broader understanding of privatization involves the transfer of "ownership, management, finance and control" of public goods to private actors. Historically, the Australian government played an influential role in society as the idea of a strong state was prevalent to the Australian story since Federation. This changed in the twentieth-century, as Australia’s adoption of privatization as a set of government policies, reflected the rise of privatization across the Western world, specifically in the United States and United Kingdom. The Australian experience of privatization involves substituting government ownership, provision and funding to the private sector, in an attempt to liberalize the economy. The effectiveness of such policies is contested, as the motivations of privatization are widely debated.
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  • 17 Oct 2022
Topic Review
Least Developed Countries
The Least Developed Countries (LDCs) is a list of developing countries that, according to the United Nations, exhibit the lowest indicators of socioeconomic development, with the lowest Human Development Index ratings of all countries in the world. The concept of LDCs originated in the late 1960s and the first group of LDCs was listed by the UN in its resolution 2768 (XXVI) of 18 November 1971. A country is classified among the Least Developed Countries if it meets three criteria: (1) Poverty – adjustable criterion based on GNI per capita averaged over three years. (As of 2018) a country must have GNI per capita less than United States dollar 1,025 to be included on the list, and over $1,230 to graduate from it. (2) Human resource weakness (based on indicators of nutrition, health, education and adult literacy). (3) Economic vulnerability (based on instability of agricultural production, instability of exports of goods and services, economic importance of non-traditional activities, merchandise export concentration, handicap of economic smallness, and the percentage of population displaced by natural disasters). As of 2018, 47 countries are classified as LDC, while five have been upgraded between 1994 and 2017. The WTO recognizes the UN list of LDCs in toto. 
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  • 17 Oct 2022
Topic Review
Paging
In computer operating systems, paging is a memory management scheme by which a computer stores and retrieves data from secondary storage[lower-alpha 1] for use in main memory. In this scheme, the operating system retrieves data from secondary storage in same-size blocks called pages. Paging is an important part of virtual memory implementations in modern operating systems, using secondary storage to let programs exceed the size of available physical memory. For simplicity, main memory is called "RAM" (an acronym of "random-access memory") and secondary storage is called "disk" (a shorthand for "hard disk drive, drum memory or solid-state drive"), but the concepts do not depend on whether these terms apply literally to a specific computer system.
  • 1.1K
  • 17 Oct 2022
Topic Review
Scaling Local Bottom-Up Innovations
Bottom-up initiatives of active citizens are increasingly demonstrating sustainable practices within local ecosystems. Local urban farming, sustainable agri-food systems, circular supply chains, and community fablabs are exemplary ways of tackling global challenges on a local level. Although promising in accelerating towards future-proof systems, these hyper-localized, bottom-up initiatives often struggle to take root in new contexts due to embedded socio-cultural challenges.
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  • 17 Oct 2022
Topic Review
Councillor
A councillor is a member of a local government council in some countries, e.g. England. In Finland it is a title of honour granted by the government to several categories of Finns.
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  • 17 Oct 2022
Topic Review
Grocery Apps and Consumer Purchase Behavior
The usage of the internet and cell phones for commercial reasons between firms and individuals (B2C) has been quickly increasing around the world, as customers gain confidence in receiving the intended goods and in the payment transaction. The grocery and food retailing industry is no exception, as it has seen an unexpected increase in consumer base and expenditure on grocery products via online platforms. According to market surveys, an increasing number of smartphone users and a growing number of young professionals are driving this change. The rise of mobile food shopping is a worldwide phenomenon.
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  • 17 Oct 2022
Topic Review
Bike Boom
The term "bike boom" or "bicycle craze" refers to any of several specific historic periods marked by increased bicycle enthusiasm, popularity, and sales. Prominent examples include 1819 and 1868, as well as the decades of the 1890s and 1970s — the latter especially in North America — and the 2010s in the United Kingdom.
  • 1.4K
  • 14 Oct 2022
Topic Review
Eurasian Development Bank
The Eurasian Development Bank (EDB) is a regional development bank established by the Russian Federation and the Republic of Kazakhstan in 2006. It has six member states located in both Asia and Europe, primarily in the former territory of the Soviet Union, including Armenia, Belarus , Kyrgyzstan, and Tajikistan. Other states and international organisations are able to become members by signing up to the bank's founding agreement.
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Topic Review
Compass Card (TransLink)
The Compass Card is a contactless smart card payment system primarily used for public transit in Metro Vancouver, British Columbia, Canada. It is operated by TransLink. Riders purchase a Compass Card and add fare value online, by phone, or at vending machines located at SeaBus terminals, SkyTrain and West Coast Express stations. Vending machines are also available at 18 participating London Drugs retail store locations. Compass Cards were deployed in August 2015. Full deployment for the general public took place on November 2, 2015. Since April 4, 2016, Compass Cards and Tickets have been required for all trips taken on the SkyTrain, SeaBus, and West Coast Express. In June 2016, TransLink reported that 100 percent of monthly pass users and 95 percent of all other users have switched over to the new format, totalling more than 915,000 customers.
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  • 14 Oct 2022
Topic Review
Alpha Indexes
Nasdaq OMX Alpha Indexes measure the relative performance of an underlying stock or exchange-traded fund (ETF) against another benchmark ETF using a proprietary calculation. The first component in the index is the “Target Component”, such as Apple (AAPL), and the second component is identified as a “Benchmark Component”, such as the S&P 500 ETF (SPY). The Nasdaq OMX Alpha Indexes were developed by Jacob S. Sagi and Robert E. Whaley, both professors at the Owen Graduate School of Management, Vanderbilt University. They published a research paper “Trading Relative Performance with Alpha Indexes” in the November/ December 2011 issue of Financial Analysts Journal detailing the concept behind Alpha Indexes. Nasdaq OMX launched the live calculation and dissemination of Alpha Indexes on October 11, 2010. The Alpha Indexes were set at 100.00 as of January 1, 2010. Thus each disseminated index depicts a target component’s return performance versus its benchmark since January 1, 2010. For example, the Alpha Index for AAPL with SPY as the benchmark, which trades under the symbol AVSPY, had a level of 199.91 on 11/09/12. This means that over the period between 1/1/2010 until 11/09/2012 an investment in AAPL outperformed an investment in SPY by +99.91%
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