Troubled waters: who gets the bill?
Article Abstract:
The oil spill in South West Wales that resulted when one of the world's largest supertankers run aground has devastated the region's marine environment as well as its business community. Battered by storms in Feb. 1996, the Texaco oil tanker 'Sea Empress' released 60,000 to 70,000 tons of crude oil into the Bristol Channel and created the third biggest oil spill in history. Many of the adverse effects of this disaster on the environment were temporary and the environmental costs have been remarkably low. However, the costs of the oil pollution to local businesses are immense. The oyster industry has collapsed, with their products and markets disappearing overnight. Local tourism has also been badly hurt by the catastrophe. Although it is believed that the natural beauty of the region will be restored in a short time, it will be difficult to get back vacationers who have booked their holidays elsewhere.
Publication Name: Accountancy
Subject: Business
ISSN: 0001-4664
Year: 1996
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Lies, damned lies and economics
Article Abstract:
There is growing recognition that traditional economic indicators are not the best measures of human achievement. Sociologists and economists alike are now saying that a measurement of a country's wealth does not provide a complete picture of the general well-being of its people. This concern has prompted the search for more reliable and accurate measuring methods. However, there are concerns that the movement to abandon conventional counting techniques will meet stiff resistance from groups that benefit from the status quo. The highly powerful Group of Seven, for instance, may fight to preserve current methods of measuring wealth because entry into this very exclusive club is determined by these methods. Some economists may also try to defend traditional wealth measurement because of its simplicity.
Publication Name: Accountancy
Subject: Business
ISSN: 0001-4664
Year: 1995
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