Improving the performance of the stock market

Article Abstract:

To develop improvements in the stock market mechanism which would help prevent another "market break," it is important to understand the structure of the mechanism for stock market trading. Market makers and index arbitragers are only intermediaries between the patient and impatient traders who ultimately determine prices. Institutions for maintaining trust based upon accountability to customers in securities trading are scarce. The events of October 1987 unfolded as two distinct sets of events: a crash in which impatient sellers overwhelmed patient buyers, and a panic in which solvency worries took traders out of the markets. Proposals to improve the stock market mechanism should address the proper role of market makers, the lack of accountability of the mechanism to customers, and the differences between panics and crashes. (Reprinted by permission of the publisher.)

Analysis, Stock-exchange, Stock exchanges, Stock Market Crash, 1987

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Improving Public Sector Management

Article Abstract:

Businessmen are not always competent in the position of public sector manager. The problems inherent to public management involve conflicting roles that public executives must fulfill. Government and business are compared as to organizational ownership, environmental relationships, content of decisions, and authority structure. The concept of education as a means to develop public managers is addressed. Business schools should provide a comparative perspective concerning public and private sectors. Through education, business managers can use their experience and talent to improve governmental performance.

Management, Education, Property, Public sector, Public administration

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Public Policy and Price Per KWH

Article Abstract:

A history of the growth and development of the utilities industry is detailed. Economic constraints dictate public policy. Case studies examine the policy issues which concern energy adequacy and cost. The last decade has seen legislatures more active in energy policymaking; however, the utilities direct policy primarily. Lifeline rates, special interest rates, federal policy, rate stability, and alternative energy are considered. Pacific Gas and Electric rate and service options represent a revolution in utility service.

Case studies, Prices and rates, History, Options (Finance), Public utilities, Urban policy

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