Best Way To Get Wealthy

The Millionaires Brain

The Millionaires Brain, a masterpiece by Alvin Huang and Winter Valkois, is one of the few self-help programs that actually works.The Millionaires Brain is entirely different from the others. While other guides just provide textbook write-ups about whats going on, The Millionaires Brain just goes a step further. This eBook is specially written for people who are missing a spark in their live, who just want to go one step ahead of others, people who want to do something different and the people who just dont want to stop. However, they dont know where to start and how to use their brain efficiently to be ahead of others. In the eBook you will be able to think like the wealthy people that have not lost their wealth due to over spending or careless budget habits. This eBook will teach you how to manage the money you already have, gain more money and keep the money you earn, spend wisely and reform your mind so that you are less like someone who always has to spend and more like someone who is wealthy and is smart with their spending habits. Read more...

The Millionaires Brain Overview


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The New Edisons From Dot Com Millionaires to Biofuel Pioneers

Ethanol Embodied Energy

Tons of metamorphic rock, which is what it takes to mint a gallon of oil or a ton of coal. Instead, they represent a benign marriage of chlorophyll molecules with the sun's own rays falling silently on our farmers' fields. That marriage produces carbohydrates, which can be refined by companies now being founded by software millionaires and farmer-owned cooperatives alike.

How Do We Make Money

Here's the tricky part of the green transportation equation. You see, it's one thing to wax eloquent about how cool the Tesla Roadster is going to be, but it' s another thing for investors to actually make money from publicly traded stocks in the green transportation sector.

Financial Planning

Financial planning can create opportunities to put university resources to work in numerous ways that can have emission reduction benefits. Because the allocation of budgets generally reflects priorities, financial plans can link operating and construction costs, consider life-cycle costs, and link budgets across departments. Each of these measures can help to create incentives for energy conservation and give priority to energy-related projects in a range of departments.

Protective Strategies

In a city populated with poor and rich people, should judgments of urban health be based on a fictitious average person Or should they follow the standards of John Rawls in requiring that a fair society focus on raising the well-being of the worst off 27 If the second approach is chosen, then expensive self-protection strategies have little impact because they do nothing to improve the lot of those at the bottom of the income distribution.

Change In Values And Mental Models

We behave in certain ways because of our values. If we want to change behavior, we need first to change the values and mental models of people. In order to illustrate this, we may think of how slavery was once abolished in America and other countries. According to John Steele Gordon and other historians, it was not seen as a moral issue in seventeenth-century America to keep Blacks as slaves. People of African origin were seen as inferior to the Whites and this view was seldom questioned. In the eighteenth century, people were influenced by French philosophers, who argued that all human beings had the same value and the same rights. Values started to change and even many rich people, such as Benjamin Franklin, who held slaves started to question their own right to do so. Initially, they did not know how to go about abolishing slavery, because it was a very important factor in the economy of the American South and the economy was dependent on slave labor. Over time, however, people...

While Alternative Fuels Are Not The Panacea Promoting Them Is

Last summer Jeffrey Immelt, chief executive of General Electric, came up with an idea quite revolutionary for an American business executive. Saying he wanted to change the way GE does business, Immelt introduced what he called eco-imagination, an initiative focused on clean energy, which would make GE the first green conglomerate in the United States. GE executives would henceforth be judged by their efforts to save the planet as well as their zeal to make money for shareholders. Every GE business unit will be required to cut its emissions of carbon dioxide (CO2), the main greenhouse gas that causes global warming.

Question pleasures in narrative do they prefer shows where the police always win

The Sydney group preferred good to win but they defined 'good' as the opposite of 'the acquisitive society, where it's really big to make money.exploit your fellow man'. They would like to see television show the better side of people, helping each other. The Bathurst group also preferred it when good prevails, because 'it makes you feel better'. Overall, they worried that so many TV programmes are directed towards crime and violence, and thought that it is young people (in their 30s and younger) who want it. They believed these young people may thus become desensitised to violence. One woman, picking up this theme, described her grandchildren who come from a country property and 'only want guns' because their parents shoot kangaroos.

Trading Carbon between Manufacturers

Companies can actually make money by reducing their output, creating carbon credits and selling them. The carbon market ensures that carbon dioxide levels are being reduced. It just doesn't worry about where or by whom. Beyond do-gooding, businesses can make money in carbon trading. Goldman Sachs, a U.S. investment bank, owns shares in the Chicago Climate Exchange and the European Climate Exchange. (We talk more about how banks are getting involved in fighting climate change and profiting, in the process in the section Support from the Professional Service Sector, later in this chapter.)

Shattering the Trade Off Myth

Corporate and societal performance need not be separated. Whereas companies previously sought to first make money through their business operations and then give back to society through philanthropy, now these two agendas could be merged. What had been a virtual firewall separating business from philanthropy was now transforming into a host of new and creative approaches to combining the two through corporate partnerships with nongovernmental organizations, strategic philanthropy, and other forms of social innovation.11

Landfill Gas Waste Or Watts

Before we discuss how to make money by investing in biogas, we should quickly address the argument that using landfill gas for energy cannot be considered green for two reasons. First, it is suggested that if an energy source emits dioxin (LFG combustion can produce small quantities of dioxins), it's not really green. While we agree with this statement, it could be equally argued that it's still better than coal, and therefore should not be disregarded when discussing alternative forms of power generation.

The politics of electricity

During the last years of the nineteenth century, when the technology was in its infancy, the generation of electricity was seen as one more opportunity for entrepreneurs and joint stock companies to make money. After all, electricity was not unique. There were other means of delivering energy district heating was already common in the USA and in some European cities while hydraulic power was sold commercially in cities such as London.

A map of contemporary science

This 'second academic revolution' (Etzkowitz, 1990), whereby intellectual property is considered to be private property, is redefining the role of the scientist and eliminating the traditional 'division of labour' that recompensed the researcher with reputation and industry with profits. 'I can do good science and make money' was the telling summary of this transition offered by a molecular biologist interviewed by Etzkowitz (Etzkowitz and Webster, 1995 489). The idealized ethical code of the professional scientist (Merton, 1942) based on the principles of communism and disinterestedness has given way to 'a new normative structure of science . . . reflecting the transformation of science from a relatively minor institution encapsulated from social influence to a major institution that influences and is influenced by other social spheres' (Etzkowitz and Webster, 1995 488).

Global warming is a largescale problem

One way to harness the balancing abilities of the market for preventing global warming is a scheme called cap and trade. A regulatory agency allocates permits for emission of climate forcing agents such as CO2, with the total number of permits they issue totaling some lower overall rate of emission than BAU (climate geek speak for business-as-usual). If a company or a country is able to cut its emissions to even lower than its allocation, it has the right to sell its permit to another company or country. The price of the permits is set by supply and demand, same as any other commodity. Presumably the industry for which it is most expensive to reduce emissions would be willing to pay the most for the emission permits. It will induce other industries to reduce their emissions because they can make money doing it, selling their permits to the highest bidder.

From environmental protection to cultural transformations

Protecting the environment had become an expanding public-policy sector, and some even referred to the emergence of a pollution industrial complex that was trying to make money out of the cleaning up (Gellen 1970). By the time the United Nations held its Conference on the Human Environment in Stockholm in the summer of 1972, environmental protection was firmly placed on the international political agenda (McCormick 1991).

Management Systems Principles And Guidelines Item in the list of tools for project managers and participants

The program organizations need internal meeting structures, pre-established agendas for meetings, checklists for decision points and checklists for the preparation of decision material and guidelines for managers on how to prioritize in different situations, for instance between speed and attention to detail, and between energy transformation and financial goals. Such guidelines need to be based on the overall values that guide the change process, which can be determined during the strategy development phase, described above.

Greening Urban Consumption

A millionaire could afford to purchase ten times as much of the same goods as a person who makes 100,000 a year. Yet consumer purchase data do not suggest that richer people simply scale up the quantity of their consumption. Instead, richer people purchase more quality. In some cases, this quality upgrading will have little environmental impact. For example, there are few environmental benefits offered by a richer person choosing to buy steak rather than eating at McDonald's. But in other cases richer households choose higher-quality products that intentionally or unintentionally have environmental benefits.

Cape Wind A Case Study in the Politics of Technology Choice

Cape Wind is a proposed commercial venture to generate electricity from 130 wind turbines mounted in a small area of Nantucket Sound in Massachusetts, USA. The project is generally supported by the environmentalist movement. However, its opponents have also based their case on environmental values, arguing that it would desecrate an area of great natural beauty. Proponents argue that it is no longer possible to preserve nature through inaction if we are to slow climate change due to greenhouse gas emissions, nature must be altered in order to be saved. The controversy is being settled through elite conflict, between the corporate entrepreneur behind Cape Wind on one hand, and several millionaire residents of the South Shore of Cape Cod on the other, with little voice for the concerned public. This paper describes the conflict to date, and attempts to show how it might be handled better through a more participatory process, and through an orientation toward problem solving, rather than...

Seeking Green Employment

If you want a green job, you must first recognize the career development process of which any employment is a part. This book offers a framework through which you can begin to address both your career goals and your green concerns, and this chapter briefly considers some essentials to planning your search for green employment within the context of your career careful research consideration of your career goals study of issues in the field and the industry networking a thorough evaluation of opportunities and effective interviewing skills. (For books that discuss job and career questions in more detail, please refer to both the Publications section of the Resource Directory and the Recommended Reading list at the back of the book.) Ask yourself what you most enjoy doing. What is your passion Do you enjoy, for example, writing, designing, managing people, managing money, or marketing products or services Asking these questions and following through on your answers will help you narrow...

Why Conservation Wont Work

Furthermore, regardless of the quadrupling of oil prices over the past six years, the rate of rise of oil consumption globally is accelerating, with increases over the past several years averaging about 1.7 million barrels per day each year. Only about 11 percent of this increase is occurring in the United States.17 Most of it by far is occurring in China, India, eastern Europe, and Latin America. Everywhere the pattern previously seen is repeating Once people become wealthy enough to buy a car, they do so. Auto sales in China doubled between 2001 and 2003, and have doubled again since. They are going to keep doubling.18 In the United States today eight hundred out of every thousand people own cars. In China the number right now is only eight cars per thousand.19 There are a lot more cars coming.

Predicting extreme losses

While the modeling strategy described above makes sense for forecasting the distribution of average losses associated with climate conditions before the start of the season, for financial planning it might be of greater interest to know the maximum possible loss. In this case, the normal distribution is replaced by an extreme value distribution for the logarithm of losses. For example, the family of generalized Pareto distributions describes the behavior of individual extreme events. Consider observations from a collection of random variables in which only those observations that exceed a fixed value are kept. As the magnitude of this value increases, the GPD family represents the limiting behavior of each new collection of random variables. This property makes the family of GPDs a good choice for modeling extreme events involving large insured losses. The choice of threshold, above which we treat the values as extreme, is a compromise between retaining enough observations to properly...

Undermining Farmers Protections

Small-scale farmers in the North are also experiencing hardships that could be eased by more robust supply management and price support mechanisms. From the 1930s through most of the 20th century, U.S agricultural policies included measures that required agribusinesses to pay farmers a minimum price for their major commodities. However, over the last two decades there has been a dramatic shift toward a reliance on the free market ideology that U.S. farmers would become rich through increased exports.

Big Oils Environmental Epiphany

In the past, oil companies have tried to maintain a low profile, as much as immensely profitable companies serving the public can hope to. They've tried to burnish their image, some more than others, with support of public radio and television, image advertising, and such, but mostly they've gone about the business of making money in the United States and Europe and buying access in oil-producing countries.

Question feelings about public space and big event crimes

Because a top-down, all-powerful media theory (such as Gerbner's) might suggest that the saturation 'bombarding' of the public with 'big event' crimes (like the Port Arthur and Dunblane massacres, or the Atlanta Olympics bombing) would make the televiewing public even more convinced about a 'mean world', we asked people their responses to these televisual events. The Sydney group men felt that the main effect of the Port Arthur massacre was to increase the prime minister's popularity at the cost of the public as he peddled a rhetoric of 'gun reform', whereas guns in general are the result of the 'armament kings' making money. This led on to a discussion of imperialist countries using guns to control Africa, Europe and so on. 'Multinational capital is at the back of it', controlling for example development in Peru orAustralia, generating terrorism and so on. As regards the safety of public spaces, they argued for a routine return to 'more cops back on the beat', rather than any 'panic'...

Changing Supply Chain Systems

Short run, since such decisions will affect the long-term competitiveness of companies. At least managers will need reliable forecasts of future energy prices, and forecasts of the energy supply, but in many cases this will not be sufficient to make major investment decisions. This means that no CEO in his right mind could make a decision to move production to a more expensive country or change suppliers in a similar way, simply because of environmental consciousness. He will need a long-term business case in order to do this. This is not because managers are not aware of the perils of decreasing oil supply or climate change. Managers are simply appointed by the board with the remit to make a profit. This means that companies will focus on financially justifiable investments. Companies and their managers could spend small sums on charity, but they could not, within the existing system, make large investments based on other goals than making money. A long-term business case could be...

Getting Utilities to Buy in

With few exceptions so far, electric utilities only pay lip service to demand response. That is, they will talk about it, participate in pilot programs, or step into it weakly if it becomes a requirement for them to pursue their traditional avenues of making money. In the early to mid-1990s, California and several states in the Northeast pushed demand response pretty hard and even figured out how to reward utilities for the investment.

Monetary Policy To Maintain Unemployment

The Federal Reserve has a long tradition of using tight monetary policy to discipline labor when wages begin to rise. Similarly, when labor is relatively weak, the Fed is more willing to stimulate the economy by making money more available. For example, Alan Greenspan told the Senate Budget Committee on January 21, 1997

Building new infrastructures of provision

The successes which Eostre has achieved in the previous four categories add up to more than the sum of their parts together they comprise the seeds of a new system of food provision, based upon cooperative and sustainability values (such as fair trade), and bypassing supermarkets in order to create new infrastructures of provision through direct marketing. Furthermore, their consumers actively support this activity, and many commented on how they enjoyed the opportunity to avoid supermarket systems of provision, for example 'I think that supermarkets are distancing people from the origins of food and harming local economies I try to use supermarkets as little as possible', ' Eostre is an alternative to a system which rips off producers, the planet etc', 'I believe in a local food economy' and 'I don't want supermarket world domination, extra food miles, packaging, and middle people making money '.

Institutional Investment In Australias Forestry Sector

With increasing allocation of native forests to conservation objectives, there remained a need to expand plantations in Australia, and yet governments were less able or willing (with some exceptions) to make those investments. At the same time, in the mid- to late 1990s came the rise of the Managed Investment Scheme (MIS) industry, based on the peculiarities of Australian tax law allowing wealthy individuals in high margin tax brackets to deduct the cost of forestry investments off current income. Recently, there has been a convergence of improved investment models for tax-effective primary investments such as forestry, as well as a need for more plantation forestry for both pulpwood and sawlogs. The result was a substantial expansion of plantation forestry from 1995 to 2000, culminating with almost 140,000 hectares being planted in one year in 2000. This rapid expansion of retail or MIS investment has now led to over half of Australia's plantation estate being privately owned.

Rethinking The Nature And Purposes Of Work

A challenge for the future is to develop a much better understanding than we now have of what makes a job interesting and intrinsically rewarding independently of its money-making potential, which is not to deny the importance of the latter. We must recognize that work can meet human needs other than strictly economic ones, and we must learn to design jobs that improve the quality of workers' lives not only indirectly by giving them purchasing power, but directly by making their working hours more interesting and gratifying.

Principles of ecology

These two scenarios - each involving complex networks and special advanced technologies - are currently on a collision course. We have seen that the current form of global capitalism is ecologically and socially unsustainable. The so-called 'global market' is really a network of machines programmed according to the fundamental principle that money-making should take precedence over human rights, democracy, environmental protection or any other value.

Moving towards answers

Additionally, it is important to note that these two potential sources of demand will likely have two very different approaches towards buying carbon. Large buyers will want to minimize transaction costs and ensure adequate levels of risk management. For this reason they are likely to push for standardization and a further commoditization of voluntary carbon. This could lead to rapid growth (in terms of volume) of the voluntary markets, but it could, at the same time, mean more money being spent on certification and verification, and less money making it down to the original supplier of the emissions reduction credit. This is a trend we have seen with many other commodities from coffee and sugar to corn and pork bellies.

Building bridges making spaces

A major part of the problem is the aggressive nature of the dominant culture. Through its enormous array of products, its seemingly endless capacity to commercialize any possible human need or vice, and, not least, its colonization of other life worlds, the dominant culture draws us into its grasping arms. Even in the various projects of public participation that have been carried out around the world in the quest for sustainable development it is the private sector, the business culture, that all too often takes the lead. It is not that business involvement is not desirable, it is that all business involvement carries a price-tag with it. No company, no money-making operation is interested in doing something for nothing.

Getting to the crux of ssues

Although subsidies do enable utilities to keep their tariffs down, they do not encourage long-term investment in the water sector. A fact that cannot be disputed is that full-cost recovery tariffs are the best guarantee of a utility's financial independence and ability to invest in future needs. Subsidy encourages corruption and the problem is compounded where water is scarce and needs to be rationed. If a utility loses money on every cubic metre of water it sells over the counter, its management will quickly find a way to make a profit by selling under the counter, according to Global Water Market 2008.

Designing a Local Real Monetary System

An energy dollar-based monetary system would be subjected to the reality test of both the physical capacity to generate power and its availability as and when required. For this reason basic principles need to be considered in designing a local energy monetary system and managing risks to its integrity. It also requires consideration of the practicalities of the technology. To illustrate these points, an urban precinct using solar cells to obtain energy and financial independence will be considered. The CLB would control the volume of money created through its purchases of insured loans from the commercial banks. In other words, it would be the CLB that created new energy dollars by purchasing the loans issued by the banks to their borrowers. The commercial banks could also be making loans in the national currency to introduce competition between currencies as described by von Hayek (1976) . However, the special profits obtained by multiplying the volume of money and credit would be...

Basic Conditions And Current Thinking Associated With Reconstituting Inoc And Reorganizing The Ministry Of

Production activity.139 Apparently, several members of the Council of Ministers have insisted upon such a distinction in the allocation of authority.140 Additionally, from an earlier public presentation made by the Prime Minister's chief theoretician on oil and gas matters, Thamir al-Ghadban, it is suspected that it had been favored to reconfigure INOC in a way that would embody several key features first, it would be a holding company of the federal government second, it would have administrative and financial independence from other state entities third, it would have the power to manage present fields through the use of subsidiaries and fourth, its board of directors would be made up of appropriate federal and provincial representatives. As originally set out, the reconfiguration envisioned SOMO (State Oil Marketing Organization) as remaining, at least for a period of time, under the oversight of the Oil Ministry, rather than INOC. And, contrary to the more recent suggestions just...

Climate Change And Financial Reporting An Accounting Perspective

Corporations are increasingly finding it necessary to consider climate change issues in their strategic planning and risk management. More and more, institutional investors also realize the importance of considering the financial implications of climate change in their investment analysis and decision making. As a result, climate change is now showing up in various components of financial reporting. For example, information on climate change will increasingly be found in financial statements and, in North America, management's discussion and analysis reports. In the United States these reports are incorporated into 10K filings. In Canada information about climate change matters may also be found in a third filing, the Annual Information Form. Climate change issues will impact financial statements in a variety of areas, including strategic capital investments and compliance and risk management costs. For example, in jurisdictions where there are GHG emissions trading programs and where...

The Indian perspective

The million-dollar question as of now is whether CSR has been or should be mandated or not. As of now, there is no law that recognizes or enforces the concept of CSR, but still companies do comply with their responsibilities, which may be for their personal gains to their reputation, name or even profits. The debate as to whether there should be a law to enforce the concept of CSR has recently arisen and with the passing of various judgements by various courts in India, including the Supreme Court of India, precedents have been set which go in favour of CSR acquiring the statutory backing and are in specific reference to the environment. Following cases deserve a mention

Some Further Examples Of Attempted Refutations

Again, don't be much impressed by the point that every lottery must be won by somebody or other. Suppose you see a hand of thirteen spades in a game with million-dollar stakes. Would you just say to yourself that thirteen spades was no more unlikely than any other hand of thirteen cards, and that any actual hand has always to be some hand or other Mightn't you much prefer to believe that there had been some cheating, if you'd started off by thinking that cheating was 50 per cent probable Wouldn't you prefer to believe it, even if you'd started off by thinking that its probability was only five per cent

The February Bush Climate Change Strategy

On February 14, 2002, President Bush announced his long awaited strategy to address climate change. His target is to cut the rate of annual domestic carbon emissions through voluntary corporate action from 183 metric tons per million dollars of GDP to 151 metric tones by 2012.47 His aim is to slow the growth of emissions rather than reducing them thereby avoiding harm to the U.S. economy. He talked of cutting greenhouse gas intensity by 18 percent over the next

The Role of Innovative Government Industry Partnerships

California deserves much credit for the advancement of hydrogen and fuel cell vehicle technology. The ZEV program clearly was an important indirect influence, but there was much more. As early as 1993, when fuel cells were barely acknowledged as a possible vehicle technology, LA's financially well-endowed air quality district acted as a venture capitalist, pumping a million dollars into the Ballard fuel cell start-up company. That early investment helped the company develop a prototype fuel cell bus and gave it credibility as it prepared to go public with an initial stock offering.

Equipment in Buildings

On their financial savings over time. However, after four years passed and the savings were not seen by the finance department, the energy manager was called to task. With the help of an undergraduate engineering student who combed through department purchasing records, we were able to show that the lighting retrofits had in fact created huge savings. The problem was that these savings had been more than offset by the purchase of over one million dollars worth of electricity-using equipment including substantial numbers of computers, lab equipment, and even a large electric oven for fabricating computer chips.

From academia to the stock exchange

In 1980, a sensation was caused when a Californian biotechnology company, founded only four years previously by a university professor of genetics, Herbert Boyer, launched a public share offer. In the following year, MIT received a donation of 125 million dollars from a businessman to host the Whitehead Institute for research in molecular biology. Fully 25 per cent of the patents granted to American universities between 1969 and 1991 were awarded in 1990 and 1991, while the period 1987-1991 saw a 100 per cent increase in patenting agreements between universities and industry. Cooperation agreements between federal laboratories and companies rose by 900 per cent in the same period, with the opening of more than 1,000 mixed university industry research centres. The percentage of academic research financed by the federal government diminished from 68 per cent in 1980 to 56 per cent in 1993. Craig Venter had initially worked on the public genome project at the National Institutes of...

What will the impacts of climate change be on developing countries

Borne diseases (e.g. malaria) and heat related cardiovascular and respiratory diseases (note, there will also be some benefits in places where increased temperatures reduce such impacts). There are also impacts on agriculture, forestry, water use, energy consumption etc., some of which will be positive. The scale of these damages is very difficult to estimate the underlying physical models are still quite primitive and there is great uncertainty about future land use and population distribution, which will have significant effects on the damages caused by climate change. The other factor on which monetary estimates of the damages depend greatly is the discount rate (see Chapter 5). Typically, the models look far into the future and impacts start to get serious around 2030. After that they will continue to be relevant for one hundred years or more. At a high discount rate these damages become insignificant, as can be seen in Table 11.2. If we go from a 0 per cent discount rate to a...

Project Financing

Driven by its mission to build models for affordable housing and the construction industry, homeWORD asks its staff to seek additional funding and find new sources of support from both private and community foundations. One unique aspect of the project is that an anonymous donor found its own goals and values closely matched those of the project and therefore contributed over half a million dollars to support the green features of Orchards Gardens.

Box Stable State Economics

One of the most prominent proponents of alternative economic systems, based on other values than constant growth, is the economist Herman Daly. In his book Beyond Growth he outlines the idea of a system that he calls stable state economics. While this is an interesting and probably a necessary idea, it does not seem to be fully developed and the practical road of transition from the present system to a stable state system is less than clear. Like many of the energy-efficient technologies that we need in the future, which need to be developed before we can use them, ideas such as stable state economics need to become better defined down to the minute details or tested on a small or medium scale in order to make their actual strengths and weaknesses visible. At present and probably for the foreseeable future the resources within the global economies, which are necessary in order to succeed with the transformation, are tightly linked to the existing economic system and this system will...

The Precautionary Principle Again

In the end, after tens of millions of dollars were spent on legal and experts' fees and the issue had been dragged through the courts for more than a dozen years, the bottom line looked like this While Johns-Manville paid its debts to commercial creditors on a dollar-for-dollar basis and was allowed to do business as usual, future asbestos claimants were paid ten cents for every dollar they had won from the company through the legal system. That lasted until July 2001, when the amount dropped to five cents on the dollar. As a result, most mesothelioma victims, who often face up to a half million dollars in health care costs to help them battle the enormous discomfort of the incurable disease, were regularly paid less than 20,000 by the J-M Trust. Bowker 2003 262

Monetization and Its Discontents

Cost-benefit supporters ask Shouldn't nations be devoting their resources to serious health problems rather than trivial ones If a nation can spend ten million dollars to save one thousand lives, shouldn't it do that, rather than wasting the money on a similarly priced program that saves only one or two people We have seen that human beings make many errors in assessing risks, using rules of thumb and demonstrating biases that make them exaggerate some dangers and underestimate others. These errors seem to be replicated in existing policies CBA might be defended as a promising corrective to blunders in citizens' perceptions of risk. In these ways, interest in CBA has been fueled less by contentious claims of value than by the pragmatic suggestion that it can assist in more intelligent priority-setting, not least in dealing with low-probability, high-impact events.13

Introduction to a Cause

Investigation reports over 600 incidents of domestic eco-terror in the six-year period from 1996 to 2002, with damages exceeding 60 million dollars 7 ,* while other estimates suggest well over 500 incidents of illegal animal rights actions alone worldwide, with attacks occurring in 17 different countries between 1981 and 2004 8 . According to the Animal Liberation Front (ALF), more than 137 illegal actions occurred in North America in 2001 alone, resulting in 17.3 million in damages 9 .

Dont Like the Word Balance Says ABC News Global Warming Reporter

When Blakemore reported on January 29, 2006, that NASA scientist James Hansen was alleging that the Bush Administration was censoring his scientific work, he failed to inform viewers that Hansen had received a quarter of a million dollars from Teresa Heinz Kerry's foundation, the Heinz Foundation, and subsequently endorsed her husband Democrat John Kerry for President in 2004 http www.abcnews. WNT story id 1555183

Change Management A Tried And Tested Method

In total, GE started with an investment of 700 million dollars in Ecomagination in 2004, and the annual investments will be increased to 1.5 billion dollars by 2010. The products that have been developed in the project have, so far, met with a much higher demand than was originally expected, and the market demand is expected to increase even more in the future.

Hurricane Blues The Cost Of Katrina And Rita

Before coming to the White House in 2001, Cooney was a lobbyist at the American Petroleum Institute. Just two days after that article was published, Cooney resigned from the White House Council and joined Exxon Mobil. Exxon Mobil defended its hiring of Cooney by stating that they hire from both sides of the aisle. Meanwhile, an investigation by Mother Jones magazine found that Exxon Mobil spent at least eight million dollars funding a network of groups to challenge the existence of global warming.

The Commercial Significance of Geosynchronous Orbit

Communications Satellite Corporation's initial capitalization of 200 million dollars was considered sufficient to build a system of dozens of satellites, as offered by a joint AT& T Radio Corporation of America proposal. However, NASA recognized that the geosynchronous orbit, which was higher and would soon be attained by launch rockets, would require fewer satellites, as Clarke had forecast. Hence, it looked with favor at a more advanced satellite, the geosynchronous satellite proposed by Hughes, for the initial system. A policy difference lay with the fact that AT& T RCA were willing to put more of their own money into their system in order to get positioned literally, in the lead of a new industry. To go to geosynchronous orbit meant more time and money had to be spent by the

A Program And Project Organization Item in the list of tools for project managers and participants

The cost of running this type of project may be several million dollars per year. For a large company that is in need of strategic reorientation or some other major change effort, this cost can be justified by the rapid adjustment to a new strategic focus. A focused change effort does not ensure that the goal will be reached. For several reasons, this type of program may fail, but the structured approach of change management highly increases the odds of success. For many companies in highly competitive industries that are badly in need of becoming more efficient, rapid change may be a matter of survival. In this type of situation it is often better to spend a large sum of money to rapidly come back on track, than to take the risk of running the change program with insufficient resources and run the risk of failure.

The Greening of Job Sectors

Top management in the chemical industry continues to prioritize environmental issues because profits depend on remaining in compliance with environmental regulations. Monsanto, DuPont, Dow, Kodak, and others spend several million dollars per year meeting environmental regulations. As a result, almost all top and middle managers in the chemicals industry may be said to have an environmental component in their job descriptions. Environmental engineers, compliance administrators, and product and marketing managers who have and can communicate environmental knowledge are in demand by chemical firms.

Realistic Estimate of Forest Conservation for Climate Mitigation

Of annual reduction commitments by Annex I countries under the protocol.82 At a price of 15 t C these avoided emissions would generate an estimated 605 million annually for these countries, ranging from less than half a million dollars for Nigeria to almost 200 million for Brazil. Although the money is substantial for some countries, this level of mitigation will not swamp the market and prevent other important emission reduction activities. Furthermore, this estimate does not account for additional constraints to forest conservation projects initiated with carbon financing. Some countries may not find willing investors for forestry projects. Two of the three countries with the highest rates of deforestation face particular challenges (Indonesia is undergoing a difficult political transition, and the Democratic Republic of Congo has several countries' troops within its borders). The country with the highest rate of deforestation, Brazil, has repeatedly made clear that it is not going...

Ecological direct action in the USA Australia and Britain

A new dimension of EDA campaigning in the US has developed in the form of the Earth Liberation Front (ELF). Although the ELF emerged from within the EDA network, its membership and activities are clandestine and its actions are not claimed publicly by Earth First The ELF claims to have been inspired by British EDA5 in the 1990s but whereas there is no evidence that the ELF has ever really existed as a distinct group in Britain, the ELF in the USA has a press officer and a website and has claimed responsibility for many acts of ecological sabotage (or ecotage). The ELF describes its main aim as 'To inflict economic damage to those who profit from the destruction and exploitation of the natural environment' and it has worked alongside the Animal Liberation Front in major incidents of sabotage since 1998. In October 1998 the ELF claimed responsibility for arson attacks in Vail, Colorado. The attacks were targeted at developers who, it was thought, were threatening the viability of a...

Emerging adulthood as a distinct developmental period ages

While adolescence is traditionally viewed as the primary transitional period between childhood and adulthood, Arnett 1 posits an additional developmental period, distinct from adolescence and young adulthood, that occurs between the ages of 18 and 25, namely, emerging adulthood. The primary developmental challenges of emerging adulthood include taking responsibility for one's self, making independent decisions, becoming financially independent, and exploring one's identity 1 . Risk behaviors (e.g. unprotected sex, substance abuse) also peak in the early 20s, in part due to experimentation with new and different identities and a significant decrease in parental monitoring. The processes of emerging adulthood are no different and no less complex in those with CHCs than in other individuals. Adults with CHCs, however, are often faced with unique barriers to normative milestones in the areas of education, employment, marital status, parental status, and residential and economic...

Green Procurement in US State and Local Governments

Local governments also have been green procurement leaders in the U.S. King County, an early adopter of green procurement, stands as a perfect example. King County began its environmentally preferable purchasing program in 1989. Initially, the program encouraged agencies to buy recycled content goods whenever practicable. In 1995, the policy was expanded beyond recycled content products to include other environmentally preferable materials and processes 24 . Today, the county's green purchases include not only recycled paper (which accounts for over 97 of the county's paper purchases), but remanufactured toner cartridges, re-refined antifreeze and motor oil (both of which are used by all county fleets, including 1200 buses), plastic lumber, retread tires, and plastic lumber. The county also purchases energy efficient lighting and low-toxicity cleaning products, and has developed a green building program. Altogether, the county estimates that it purchased 4 million in environmentally...

Studies in Value Relevance

Value relevance is defined as the power of specific financial statement variables to explain changes in equity values. The greater the explanatory power of the specific financial statement variables, the greater the value relevance (Hasan and Asokan 2003). In other words, value relevance is understood as the ability of financial statement information to summarize or capture information that affects share values and empirically tested as a statistical association between market values and accounting values (Hellstrom 2005). Investors demand value-relevant information from financial statements and financial information. For example, earnings per share show a high association with market values or price returns indicates value relevance. More importantly, it is to evaluate the relevance of accounting numbers for investors in their investment. Studies of the long-term association between stock returns and accounting numbers value the information in financial statements against that in...

Responsibility And Tort Reform

In public, corporate executives complain loudly about the costs of liability suits in more private outlets, they tell investors that such costs are inconsequential. For example, Frank Popoff, CEO of Dow Chemical, has warned that product liability costs are a killer for our global competitiveness. Yet Dow's annual report to its investors blandly declares, It is the opinion of the company's management that the possibility that litigation of these products liability claims would materially impact the company's consolidated financial statements is remote. Similarly, Monsanto's vice president for government affairs has charged that liability litigation clogs our courts, curtails American innovation and creativity, drives up the costs of consumer products, and prevents some valuable products and services from ever coming to market. Yet Monsanto's report to shareholders concludes that while the results of litigation cannot be predicted with certainty, Monsanto does not believe these matters

Forest Fires If a Tree Dries Out in the Forest

These fires have serious consequences, not only for the environment, but also for infrastructure. Major wildfires in Canberra, Australia, in 2003 ruined 500 houses and cost a hefty 261 million dollars (U.S.) in damage alone. The 2007 fires across the state of California destroyed 1,500 homes. The IPCC expects forest fires to increase while temperatures continue to rise and some areas experience reduced rainfall.

From the double helix to three billion steps

Robert Sinsheimer, a molecular biologist about to become Chancellor of the University of California at Santa Cruz, discovered that 36 million dollars had been allocated to the construction of an optical telescope at his university. Santa Cruz was at the same time being appraised as a possible site for an enormous particle accelerator, the Superconductor Supercollider, which would have cost several millions of dollars. Sinsheimer was immediately prompted to ask why this money should not be given to biology 'It was thus evident to me that physicists and astronomers were not hesitant to ask for large sums of money to support programmes they believed to be essential to advance their science' (cited in Wilkie, 1993 76). The Department of Energy was quick to profit from the hesitations of the scientific community. Although funding for nuclear weapons research had not yet been cut back to its present levels, the then director of the DoE, Charles DeLisi, saw genetic research as justifying the...

The rise and fall of the California sardine empire


In that year, with his cousins and brothers, Mr. Legaz bought a small trawler and named it the Legaz Brothers. The oldest of the Legaz brothers subsequently bought the Georgia in 1917, the Ansonia (70 feet - 21 m) in 1927, the Valencia (75 feet - 23 m) in 1928, the Marconia (80 feet - 25 m) in 1937, and the Leviathan (98 feet - 30 m) in 1946. In 1947 he invested in a sardine plant and sold out a few years later, not losing any money. His sons fished with him from age nine or ten, until they could buy their own vessels or skipper one of the other boats in the Legaz fleet. In the 1940s oil was the big moneymaker from sardines, not canning (Louis Legaz, private communication, 1 October 1989). Investing in a plant that reduced sardine was one way for fishing families to get rich.

Case study Scope creep

In retrospect it is easy to see that 10 to 15 years of incremental design changes at DARHT resulted in starting construction on a project that had never been subject to environmental review in its totality. These changes in design, or scope creep, caused the project to cross the threshold from a minor modification of an existing building that was not expected to result in significant impact to a hundred-million-dollar construction project with significant impacts. Given the changes in agency procedures and the additional importance of the new facility to national programs, it would have been prudent to have initiated a

Regenerative Fuel Cells

Scientists at AeroVironment of Monrovia, California and NASA developed a propeller-driven aircraft called Helios, to be used for high-altitude surveillance, communications, and atmospheric testing. Helios was a 15 million dollar, solar-electric project. The unmanned aircraft had a wingspan of 75 m and was described by some as more like a flying wing than a conventional plane. In 2001, in a test flight, Helios reached an altitude of almost 29.4 km, an altitude considered by NASA to be a record for a propeller-powered, winged aircraft. Helios was designed for atmospheric science and imaging missions, as well as relaying telecommunications up to 30 km. The 5-kW prototype was powered by solar cells during the day and by fuel cells at night (a URFC device). Regretfully, in another test flight in 2003, Helios crashed.

The scientific revolution as a cultural process

Many of the participants in the radical enlightenment shared with the academicians and their royal patrons a belief in what Max Weber termed the Protestant Ethic - that is, an interest in the value of hard work and the virtue of making money - and most had an interest in what Francis Bacon had termed useful knowledge. But the new movements that developed in the Enlightenment and helped to inspire the French and American Revolutions objected to the limited ways in which the Royal Society and the Parisian Academy had organized the scientific spirit and institutionalized the new methods and theories of the experimental philosophy (Jacob 1997 99ff).

Kyoto Protocol Would Avert Only C Of Global Warming By

The 60 Minutes segment made no mention of Hansen's partisan ties to former Democrat Vice President Al Gore or Hansen's receiving of a grant of a quarter of a million dollars from the left-wing Heinz Foundation run by Teresa Heinz Kerry. There was also no mention of Hansen's subsequent endorsement of her husband John Kerry for President in 2004. http jeh1 dai_ complete.pdf Brokaw also presented climate alarmist James Hansen to viewers as unbiased, failing to note his quarter million dollar grant form the partisan Heinz Foundation or his endorsement of Democrat Presidential nominee John Kerry in 2004 and his role promoting former Vice President Gore's Hollywood movie.

Subsidizing Environmental Damage

Consider the case of the Hamptons, where many of the rich and famous have multimillion dollar homes fronting the shore along this exclusive section of Long Island, New York. Some 8,000 waves a day pound the shoreline. Each wave shifts millions of grains of sand and brings disaster closer and closer to the million-dollar properties that line the seashore. Hurricanes and northeasters have battered barrier islands for years. A1938 hurricane wiped out development along the entire Long Island coast and opened up Shinnecock Inlet. In recent years, as erosion has accelerated because of the groins built to protect the inlet, some 200 homes have been washed away.15

An analogy the federal shrimp plan and its impact on the fishery

The general issue of habitat vulnerability dominated the discussions at the January 1990 meeting of the SSC. During the first part of that meeting the SSC was asked to comment on a proposed seven-million-dollar (US), five-year research plan to assess whether habitat alteration or degradation was responsible for recent drastic reductions in the pink shrimp fishery.

America Reacts to Speech Debunking Media Global Warming Alarmism

I do have to give credit to another publication, Congressional Quarterly, or CQ for short. On Tuesday, CQ's Toni Johnson took the issues I raised seriously and followed up with phone calls to scientist-turned global warming pop star James Hansen's office. CQ wanted to ask Hansen about his quarter of a million dollar grant from the left-wing Heinz Foundation, whose money originated from the Heinz family ketchup fortune.

Conclusions Technological vs Lifestyle Transition

Human civilization is thus a story of urban civilization which, over the past 300 years of industrialization, has become rich and successful on the back of energy exploitation, almost exclusively by combusting fossil fuels that accumulate in form of embodied energy and atmospheric greenhouse gas concentrations. This development has now led to the prospects of diminishing oil supply and runaway global climate change. Thus the affluent citizens of the world's cities are responsible historically for this situation, and are now central to any future prospect of retreating to safer conditions.

Baptists And Bootleggers

Bruce Yandle (1989) has referred to these (usually tacit) coalitions between moral agents and economic interests as 'Baptist and Bootlegger' coalitions Baptists oppose the sale of liquor on Sunday because it is morally wrong, while bootleggers do so because they cannot make money unless there is prohibition. The Baptists would vehemently deny that they were assisting the bootleggers, just as Greenpeace and its partners in the Climate Action Network would bristle at the suggestion that they were assisting the nuclear industry and the oil companies with their holdings of natural gas, or even the expansionist instincts of states. Yet this is the effect of their campaigns.

Catastrophic Harm Version Precautions as Insurance

For some risks, people seek to create a margin of safety that operates as a kind of regulatory insurance. In deciding on our own behavior and the behavior of sensible governments, we might favor special precautions against worst-case scenarios. Perhaps it makes sense to buy extra insurance for catastrophic risks, on a principle of risk aversion. When low-probability risks of catastrophe are placed on-screen, so that people will not ignore them, many people are willing to pay much more to avoid those risks than the expected value would seem to warrant. Insurance companies make money for exactly that reason.

Benefits That Build a Business Case

Side, to become as knowledgeable about financial benefits and considerations as they are about the technical issues concerning their own specialties. I have found professionals in all disciplines that are unable to clearly articulate the business side of green buildings. In my view, a critical professional skill is to learn how your clients make money and to become fluent in the language of business and investment. Most clients take it for granted that you'll be able to do a good job of design and construction. However, they want you to understand and articulate the reasons for green building in terms that make sense to them and which they can report to key people in their own organization.

What The Standard Theories Do Not Explain

Homo economicus is supposed to be a rational (utility-maximizing) decision-maker and H. economicus equates utility with money, at least in situations where a monetary calculation is possible. It follows that rational economic agents do not invest in projects that are known to have a negative rate of return or a negative expectation value (of utility). They do not buy lottery tickets or bet on horses, or prospect for gold to make money, though they might do so for the excitement. More important, some of the people who like risky adventures (including lottery tickets) are the crazy inventors who refuse to consider the very low odds of success and who nevertheless persevere. A very few, but a very important few, are the ones who come up with history-making 'radical innovations' in the Schumpeterian tradition (stylized fact 15). Standard theory cannot explain this fact.

Safeguards Against Terrorists

It has been suggested that a terrorist gang could steal nuclear fuel elements from a reactor and make a bomb out of it. As already mentioned in Section 5.1.3, the fuel elements of a nuclear reactor are totally unsuitable for a bomb. If terrorists wish to build a nuclear weapon from reactor fuel elements by stealing them from a nuclear plant, they must steal several hundred highly radioactive fuel elements from two or more nuclear reactors. They must first construct a fifty-million-dollar special fuel reprocessing plant whereto they can take the stolen reactor fuel. Next they would have to spend six months or so to carefully extract fissionable uranium and plutonium in such a plant and figure out how to construct a nuclear bomb, which requires a technically very advanced group of engineers. Clearly from the review of criticality accidents in Section 6.6, ignition of a nuclear fissionable critical mass (e.g. Tokaimura) does not produce a Hiroshima-like explosion. To make an effective...

Case Study The Moral Discourse After Kyoto

Last year, floods left 50,000 people homeless and caused losses of 320 million dollars and 80 per cent of cultivated land in one Argentine province alone. This shows what can happen when the climate turns nasty. . . . It is clear therefore that Argentina, our hosts for COP-4, cannot fail to be aware of the threats posed by undue human interference with the climate. (Eco, 2 November 1998)

Investigation Case Development and Litigation

Most environmental enforcement results in monetary settlements. But not all. An executive of a New Jersey electroplating company was sentenced to twelve years in prison after he pleaded guilty to abandoning vats of sludge containing cyanide, arsenic, chromium, and other toxic materials. The cleanup at the Meadowlands Plating and Finishing Inc. factory cost the EPA more than half a million dollars.

Naturally Occurring Diseases

Much as mosquitoes and other disease-carriers have developed immunity to pesticides. In addition, new pathogens such as the Legionella bacterium are constantly emerging. Ebola virus, which first appeared in 1976, can kill 90 per cent of its victims, whereas bubonic plague kills only 50 per cent. Yet in the United States recently, P.E.Ross notes, funds for work on infectious diseases other than AIDS and tuberculosis have actually been lower, in inflation-adjusted terms, than they were forty years before, the Center for Disease Control spending only a few million dollars yearly in looking for new killers although it had been a matter just of biological chance that AIDS wasn't as highly contagious as the

Investment Planning for Colleges and Universities

Universities may also want to consider investments in energy systems that create predictable energy prices. Long-term investments in wind farms or other alternative energy sources may provide a known price for power that emits a great deal less heat-trapping gas than conventional sources. Executing long-term contracts for fuels such as 2 and 6 oil has historically been a common aspect of energy management at colleges and universities. As prices have become more upwardly volatile, companies providing fuel oil have offered shorter-term contracts that may result in extra effort on the part of the energy manager and unpredictably large costs to the college. In 2006, Tufts experienced an increase of several million dollars in its energy bill, prompting a memorandum to faculty from the administration discussing our budget crunch.21 If an investment in green power offers predictability in costs as well as an opportunity to demonstrate social responsibility, we argue it is worth serious...

Threats To The Survival Of The Human Race

Knowledge of how to build nuclear bombs cannot be eradicated. Small nations, terrorists and rich criminals wanting to become still richer by holding the world to ransom can already afford very destructive bombs. Production costs are falling and the world has many multi-billionaires. The effects of large-scale nuclear destruction are largely unknown. Radiation poisoning of the entire globe 'Nuclear winter' in which dust and soot block sunlight, so that temperatures everywhere fall very sharply Death of trees and grasses Of oceanic plankton

Analyzing the Impact of Wind Power on Power Mix Using SCM

Table 1 Estimated investment cost required for each power company in 2030 (unit million dollars year, Exchange rate 1,300 won ) Additional investment cost required is estimated to prepare for the uncertainty of wind power generation. A minimum of 31.5 million dollars and a maximum of 28 billion dollars of additional investment are estimated to be required in terms of LNG 700 MW facility. Table 1 summarizes the result when the above required cost is allocated to each power company based on their current installed capacity.

The Future of CSR in the UK

To suggest that the field CSR or CR would last in perpetuity in the UK or anywhere else would be too simplistic - nothing lasts forever Dynamism in the corporate scene is a regular occurrence in the developed world, and may result in the displacement of CSR for another concept that becomes more fashionable. What that new 'more fashionable concept' will be and when it would come on to the corporate scene is a six million dollar question, the answer to which this author is not knowledgeable enough to predict.

The Lexical Ambiguity of the Expression Corporate Social Responsibility

Out in a context of negotiations between social partners with no privileges involved, which can happen when decisions are taken unilaterally in the context of the company. There is indeed to some extent a hierarchical opposition between hard law and the inferior soft law which can only be invoked as an adjunct to the hard law. As a result, CSR in the French context has a fundamentally political dimension, which must in turn have repercussions on the way the French democratic model functions (Rose 2006). As Elizabeth Laville emphasized, creator of Utopies, a consultancy firm specializing in corporate social and environmental responsibility, France is not necessarily an easy country in which to implement these CSR-related topics, and this for two reasons first of all because our Catholic culture inclines us towards scepticism, even cynicism, when confronted with those who claim to be doing good and making money at the same time and second because of our long-established and...

Setting a baseline for comparison Bank accounts and stock market yields

Say you put 1,000 in a savings account that earns 6 percent compounded interest. Twelve years after you make your original investment, you'll have 1,000 in interest, so this is the payback period. At any point in time you can pull your money out of the bank with zero risk. So you've done nothing but make money, right Not exactly.

Walk Daily Buy Local Build Green

The war on sprawl has come to Main Street in Great Barrington, Massachusetts, in the middle of the pastoral Berkshire Hills, where New Yorkers and Bostonians keep million-dollar vacation homes. The campaign is being waged on the chalkboards listing the specials of the day at the bistros and cafes mesclun and herbs from Equinox Farm in Sheffield, mushrooms from Housatonic, lamb from Glendale, grass-fed beef from Hancock and Berkshire blue cheese on burgers, and your choice of butter from High Lawn Farm in Lee or South Egremont ch vre to slather on artisan bread that is baked a few doors down. More than garlic reductions or Internet reservations, the calling card for these restaurants is local food. A diner might feel downright sheepish ordering something that wasn't grown, raised, or created within a 20-mile radius.

Hedge Funds

Increasingly, big money investors have seen there's money in oil, and they have poured as much as one trillion dollars into the energy markets, buying and selling these contracts but not looking for deliveries instead, they make money on the price differentials from time to time. For instance, they buy contracts for future delivery at today's prices, aware that the equity on those contracts will grow sharply in a year or two. In fact, some of those investors mostly hedge funds and mutual funds have bought contracts for deliveries 10 years into the future, by which time the equity on those contracts may have gone up ten times or more. It's quite clear that they will make a lot of money when they ultimately sell those contracts to refiners, who will then pass on their costs to consumers. The result is that oil and product prices will continue to go up.


Economic trends are strongly impacted by technological progress, which is impossible to forecast, and by social and political fancies. One could even argue that economics is pathologically unforecastable because it is self-aware. If I came up with a model that could successfully forecast stock prices, I could use it to make money, until everyone else discovered my methods. At that point, the stock prices would reflect everyone's knowledge of the model forecast, and the future trajectories of the stock prices would alter to evade my forecast. I wouldn't make money any more. Not even on my darkest days do I imagine that the physical world that I model for a living is going to change its behavior for the purpose of making my model wrong

Adding flexibility

Because of the flexibility mechanisms, countries can actually make money if they lower their emissions more than they said they would. Of course, the downside of this trading is that some countries would prefer to buy credits, instead of actually reducing their own emissions. The good news is that the mechanisms convinced more countries to commit to the Kyoto Protocol.

Tales Of Prosperity

Nor were these findings limited to the United States. There is now an increasing number of successful projects which have shown that it is possible for industrial companies of all sizes to reduce environmental impact and make money. Amongst them the Swedish Landskrona project, the Dutch PRISMA project, Project Catalyst in the UK, the Aire and Calder Valley project (also in the UK), and the Austrian ECOPROFIT project. Box 3 summarises some of the results from these different projects.

Gains from Trade

U.S. firms can also benefit from the trade. Suppose the U.S. firm faces marginal abatement costs of 240. If it can sell the permit for anything above 240, it will benefit from the trade. Selling the permit obligates the U.S. firm to reduce its emissions by one more unit (because it owns one less permit). This means the firm will suffer a cost of 240. But the firm will make money on the deal if it sells the permit for more than this cost. Let's assume that the firms agree on a price of 300 for the permit. In this case, the Japanese firm benefits by paying 300 to avoid a cost of 400, thereby gaining 400 - 300 100. The American firm benefits by receiving the 300 permit price minus the 240 needed to abate the additional unit of emissions, thereby gaining 300 - 240 60. Thus, the purchase and sale of permits at prices between the marginal costs of

Waving or Drowning

Thin and gangly, Guo was one of life's losers. An eldest son in a country that now rarely allows couples more than one son, he saw his younger brother make money by traveling to Japan to work. Like tens of thousands of other fortune hunters from Fujian, his brother had gained the trappings of wealth and built an ostentatious house for his family. Guo had stayed at home with his wife and started a brick factory. It failed. He had opened a gas station. That too went belly up. He borrowed money from his father, and borrowed again. He was in his late twenties, with a four-year-old son, and had lost face badly. So he decided on one last throw and went to see the people smugglers known as snakeheads.

Slumdogs Arise

Mumbai, a city of twenty million people, is the beating heart of boisterous, cacophonous, industrializing, investing, plotting India. A youthful city a fast-growing city. As we chatted, somewhere across town they were completing Slumdog Millionaire, the Oscar-winning rags-to-riches movie about a slum boy from the city who wins the game show Who Wants to Be a Millionaire What better symbol for the new optimism of modern India But as we spoke, somewhere out there too (or possibly in one of the hushed air-conditioned rooms above us), some young Pakistanis were plotting a November surprise. A few weeks later, they would rampage through the business district, mowing down commuters at the main railway station and backpackers in an Internet cafe before laying siege to its two most prestigious hotels. The rampage killed 120 people, including many in the Oberoi itself. Some fear the slums. They can be dangerous places. The biggest causes of death among young people in Sao Paulo are traffic...


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Give it away

If there's stuff cluttering up your life that you just want gone and you don't care about making money off it or getting a tax deduction, it's easy to give it away to someone who can use it. Regift new items, ask your friends if they could use any of the stuff you're giving away, or put items out on the curb with a sign that says FREE. (Some cities frown on this last practice, so make sure it's okay in your area before carrying items to the curb.)


But now assume that government incentives lower the cost of PV systems by 50 , so that your annual cost is only 200 to 250. You're still not making money. Are there still reasons to do this Yes, there may be. For example, what is it worth to have a supply of electricity that is independent

Give and Take

David Lucas was a wealthy man having developed a barrier island near Charleston, South Carolina, through the 1970s and not as sympathetic a figure as those who would come later. But his lawsuit in 1992 bolstered the cause of property rights and sent the movement into overdrive. After building elsewhere on the Isle of Palms, Lucas bought two lots in a subdivision called Beachwood East for 975,000 in 1986 he planned to build two single-family homes for himself and his family. There was no question that the lots, about 300 feet from the ocean, were buildable single-family homes were going up on either side. But in 1988 South Carolina passed the Beachfront Management Act, expanding a previously drawn no-build buffer zone inland from the water, as part of an attempt to combat beach erosion. Hurricane Hugo hit the next year, confirming the state's worst fears. Two years after buying the lots, where at the time he could have built two homes, Lucas now couldn't so much as nail two pieces of...

William Knox DArcy

William Knox D'Arcy was the founder of the first foreign oil company in the Middle East. Educated at Westminster in London, he moved to Australia in 1866, where he founded the Mount Morgan Gold Mining Company. He returned to England with his family in 1889. In 1900, he began financing oil exploration expeditions to Persia (modern-day Iraq), where oil was struck by his ventures in 1908. He founded the Anglo-Persian Oil Company (APOC) in 1909 and began exporting oil resources from Persia. D'Arcy's role in oil development in the Middle East is notable for two reasons. First, his ventures were the first oil exploitation operations that occurred in the most oil-rich region in the world. Second, he founded the world's largest oil company. APOC later became British Petroleum (BP), an oil giant that continues to develop petroleum resources and operations in countries worldwide and whose record profits in 2006 made it the largest global oil company as measured by production. D'Arcy became a...

Equity Research

Like the commercial banks, the mainstream equity research houses (treated together in this section) have been relative latecomers to the market. However, as capital has begun to be attracted to the market, and as companies involved in the market have sought financial advisory and capital raising assistance, many established banks have stepped up their interest and sought to capture a share of the carbon finance market.

Jeremy Moss

Pays' principle.2 This way of dividing the burdens of climate change focuses on who caused the problem in the first place. If the answer is 'developed countries', then those countries should bear the lion's share of the costs of adaptation and mitigation. But this raises the problem of how to divide the cost within the wealthy countries themselves. If the burden within any one country fell substantially on those least able to pay, then this seems to be intuitively unfair. A related problem with adopting this historical approach to allotting costs is that it might leave out wealthy individuals in poor countries. For instance, in 2008 China had 419 000 people worth over one million US dollars.3 Distributing the costs of climate change to wealthy countries alone would also leave out those with a high ability to pay in poorer countries. We should note that what principles we adopt will vary according to what part of the problem of the causes of climate change we are addressing. For...

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