Local Economy: The Journal of the Local Economy Policy Unit, 2013
A review and analysis of recent attempts to promote local economic development and improve public... more A review and analysis of recent attempts to promote local economic development and improve public services that considers the potential role of the ‘growth coalitions’ and ‘smart local government’ project in progressing and creating synergy between these two agendas. A critique of the current growth agenda, as represented by Local Economic Partnerships and the Single Local Growth Fund and whether it connects with the potential growth opportunities that can be realised out of local public service expenditure. A consideration of whether Community Budgets, as the current approach to improving local public services, represent a new managerialism rather than a new ‘transformation’ agenda to better meet the needs and address the well-being of local people. Suggestions are made about how to capture the inherent value, and realise transformational change in the provision of local public service services along the lines of the decade-old ‘growth coalitions’ and ‘smart local government’ proje...
This paper examines the role of using cartoons as a suitable method to assist in the transfer of ... more This paper examines the role of using cartoons as a suitable method to assist in the transfer of knowledge within the field of finance. This paper examines this by calling on a dialectical approach to examine the role and interpretation of „meaning‟. Cartoons in and out of the classroom may appear to wield a degree of useful humour, but the underlying and often subtle imagery is as significant as a well-structured historical document. This paper deals with the very nature of the building blocks used in the construction and dissemination of cartoons and the apparatuses that are then used to dissect and analyse the cartoons within their appropriate contextual framework. The field of finance is evolving at a fantastic rate, and the students of finance are constantly challenged to deal with the change in perspectives and understanding that evolve across time. Much of the literature in the field of economics and finance is usually capable of explaining what has happened in the past, but ...
Research illustrates that the procurement and selling of fine art are extremely psychological. Th... more Research illustrates that the procurement and selling of fine art are extremely psychological. The wealthy classes infrequently buy fine aesthetic objects for merely financial reasons. There is a sense of emotional gratification from acquiring attractive fine art but it can be a risky enterprise when purchased not only as a leisure activity, but also as an investment. Purchasers of fine art derive immense pleasure from exhibiting their art in their home and also share art with their peers. Owning fine art also grants one greater social status but given that the valuation of fine art is highly subjective, if one’s motivations are purely financial, and not necessarily leisure-based, this makes investing in fine art decidedly risky. This article examines the role of institutions in the global art market. Due to the asymmetrical distribution of information between art investors and the art institutions, there is uncertainty over the value of 'Fine Art' between those that wish to...
With growing infrastructural pressure induced by urban densification combined with rural developm... more With growing infrastructural pressure induced by urban densification combined with rural development and the increasing demands of industrialisation, South Africa is facing two related challenges. The first is a lack of sufficient energy to satisfactorily fulfil the needs of the expanding economy. The second is that South Africa has limited access to water. Electricity generation using the traditional coal-burning power stations requires vast amounts of water, for amongst other things, steam generation to drive the turbines and water is also used in the cooling process. Thus, as the demand for electricity grows, so too does the pressure on the country's strained water supplies. The growing demand for electricity favours the building of new traditional coal-burning power stations, which emit vast amounts of pollutants into the atmosphere, negatively affecting the environment. This leads to a degree of conflict between stakeholders, namely the energy producers, government bodies, ...
The article endeavours to construct a model that links the gap between returns to an investment i... more The article endeavours to construct a model that links the gap between returns to an investment in ‘Fine Art’ and the ‘real’ price of the 'Fine Art' being traded. Thus the process used in creating shared value within the market for 'Fine Art' is examined. Art prices are usually set in the primary market through the auction process, which should also typically reflect an efficient way of creating shared value. As the auction process in the primary art market is not efficient; it does not create shared value as would occur in a typical free market structure. Artificial rigidities exist within the primary art market; thus the links between the primary art market and the secondary art market are shown by incorporating the concepts of the 'Value of Information' and ‘Strategic Uncertainty’ into the transmission mechanism.
Local Economy: The Journal of the Local Economy Policy Unit, 2013
A review and analysis of recent attempts to promote local economic development and improve public... more A review and analysis of recent attempts to promote local economic development and improve public services that considers the potential role of the ‘growth coalitions’ and ‘smart local government’ project in progressing and creating synergy between these two agendas. A critique of the current growth agenda, as represented by Local Economic Partnerships and the Single Local Growth Fund and whether it connects with the potential growth opportunities that can be realised out of local public service expenditure. A consideration of whether Community Budgets, as the current approach to improving local public services, represent a new managerialism rather than a new ‘transformation’ agenda to better meet the needs and address the well-being of local people. Suggestions are made about how to capture the inherent value, and realise transformational change in the provision of local public service services along the lines of the decade-old ‘growth coalitions’ and ‘smart local government’ proje...
This paper examines the role of using cartoons as a suitable method to assist in the transfer of ... more This paper examines the role of using cartoons as a suitable method to assist in the transfer of knowledge within the field of finance. This paper examines this by calling on a dialectical approach to examine the role and interpretation of „meaning‟. Cartoons in and out of the classroom may appear to wield a degree of useful humour, but the underlying and often subtle imagery is as significant as a well-structured historical document. This paper deals with the very nature of the building blocks used in the construction and dissemination of cartoons and the apparatuses that are then used to dissect and analyse the cartoons within their appropriate contextual framework. The field of finance is evolving at a fantastic rate, and the students of finance are constantly challenged to deal with the change in perspectives and understanding that evolve across time. Much of the literature in the field of economics and finance is usually capable of explaining what has happened in the past, but ...
Research illustrates that the procurement and selling of fine art are extremely psychological. Th... more Research illustrates that the procurement and selling of fine art are extremely psychological. The wealthy classes infrequently buy fine aesthetic objects for merely financial reasons. There is a sense of emotional gratification from acquiring attractive fine art but it can be a risky enterprise when purchased not only as a leisure activity, but also as an investment. Purchasers of fine art derive immense pleasure from exhibiting their art in their home and also share art with their peers. Owning fine art also grants one greater social status but given that the valuation of fine art is highly subjective, if one’s motivations are purely financial, and not necessarily leisure-based, this makes investing in fine art decidedly risky. This article examines the role of institutions in the global art market. Due to the asymmetrical distribution of information between art investors and the art institutions, there is uncertainty over the value of 'Fine Art' between those that wish to...
With growing infrastructural pressure induced by urban densification combined with rural developm... more With growing infrastructural pressure induced by urban densification combined with rural development and the increasing demands of industrialisation, South Africa is facing two related challenges. The first is a lack of sufficient energy to satisfactorily fulfil the needs of the expanding economy. The second is that South Africa has limited access to water. Electricity generation using the traditional coal-burning power stations requires vast amounts of water, for amongst other things, steam generation to drive the turbines and water is also used in the cooling process. Thus, as the demand for electricity grows, so too does the pressure on the country's strained water supplies. The growing demand for electricity favours the building of new traditional coal-burning power stations, which emit vast amounts of pollutants into the atmosphere, negatively affecting the environment. This leads to a degree of conflict between stakeholders, namely the energy producers, government bodies, ...
The article endeavours to construct a model that links the gap between returns to an investment i... more The article endeavours to construct a model that links the gap between returns to an investment in ‘Fine Art’ and the ‘real’ price of the 'Fine Art' being traded. Thus the process used in creating shared value within the market for 'Fine Art' is examined. Art prices are usually set in the primary market through the auction process, which should also typically reflect an efficient way of creating shared value. As the auction process in the primary art market is not efficient; it does not create shared value as would occur in a typical free market structure. Artificial rigidities exist within the primary art market; thus the links between the primary art market and the secondary art market are shown by incorporating the concepts of the 'Value of Information' and ‘Strategic Uncertainty’ into the transmission mechanism.
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Papers by Peter Baur