Toward a renaissance of service

Article Abstract:

The quality of services in developed countries is declining, while productivity in manufacturing increases. Employment has been reduced in those areas in which fewer workers are needed to produce the same output, increasing the marginal value of remaining manufacturing workers. A widening gap is developing between what industrial employers can afford to pay versus what is offered in service industries and social service organizations. A growing percentage of value added in manufacturing processes stems from capital rather than from labor. It is suggested that an increasing amount of investment income be made accessible to workers, and that a tax bias should be introduced in favor of such income. Pension funds could be redefined so that revenues were payable to all members, whether or not they are of pensionable age. Trusts could then help the average worker build up an investment portfolio asan earnings supplement.

Social aspects, Methods, Financial planning, Compensation and benefits, Services industry, Service industries

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The City's conscience

Article Abstract:

The Ethical Investment Research Service reports growth in investment funds that base their portfolio management decisions on ethical criteria. Some of the the ethical decisions are based on criteria including whether firms experiment on animals, waste natural resources, or have businesses in countries with oppressive regimes. Positive criteria include whether firms have high standards of safety and health and are involved in community welfare. Currently, the influence of ethical investors is limited by their small stakes, but the investors can influence a company's management policies by selling off stock in a company. Increasingly, ethical investment, particularly on the large-scale institutional level, will focus on influencing company direction and management.

Analysis, Reports, Ethical aspects, Mutual funds, Socially responsible investments, Ethical Investments Research and Information Service

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Europa's new mirror

Article Abstract:

Restrictions regulating the flow of capital throughout the European Community (EC) largely have been eliminated, but the EC cannot be considered a single, homogenous investment market until monetary union has been affected. However, the advent of a single capital market has given rise to the hope of creating share indices that cover stocks in all 12 EC member states, and some trans-EC share indices currently are being offered. The difficulty of calculating trans-EC share indices arises from both the share price movements and the fluctuation of currencies. In addition, the performance of trans-EC share indices is dependent on which currency is used as a basis for valuation.

Europe, Economic policy, Stock price indexes, European Union, European Community

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