Edition 20: Trade-offs (feat. ESSA)
Limited time, money and resources. The classic economic assumption of scarcity means that we constantly have to weigh between one choice over another, especially when it comes to social impact. Do we take economic growth or sustainability? High inflation or high interest rates, risk or return? We can’t always have everything we want. Or is this just a stigma that can be overcome through innovation and new ideas? What or who motivates to choose one over the other? Do we even have to choose?
Rising Above The Waves: Redefining Feminist Historiography and Our Organisation of Knowledge
Historical frameworks play an integral role in our understanding of the past. They define the historical canons we abide by; the events, figures, and concepts we recognise as significant and, consequently, the narratives we relegate into relative obscurity. This article goes beyond the "wave" metaphor we are familiar with in the study of feminist history, diving into the hidden, intersectional depths of feminism and navigating the trade-offs we make when organising our understanding of the past.
Sydney Rice | National Affairs Officer
Fissioning perceptions: Overcoming Nuclear Energy’s Stigma and Embracing the Unseen Potential
What happened to nuclear energy? This article delves into the prevailing stigma surrounding nuclear energy; how media perception has obstructed the exploration of its potential as a clean and efficient power source, shedding light on the discord between perception and reality. This urges us to reconsider and potentially embrace nuclear energy’s innovative solutions.
Joyce Ong | National Affairs Officer & Kritika Allath | Sponsorship Officer
A sticky situation: Trade-offs in Migration
During the economic crisis in Greece, only 3% of the population emigrated to neighbouring countries with better opportunities despite high unemployment. In Bangladesh, a study offered financial incentives for workers to temporarily migrate from famine-stricken rural areas to cities with jobs. Though workers benefited economically, only 50% returned the next year. These seemingly irrational phenomenon highlights that despite potential economic gains, migration decisions involve weighing intangible and often unincorporated losses like uncertainty and leaving home. Furthermore, psychological factors like loss aversion often make it so that the personal losses of migrating, even temporarily, deter many from seeking a higher level of material comfort. Ultimately, as much as we may like to think that our models are accurate, economic assumptions of rational choices routinely underestimate the social and emotional factors in migration.
Mitchell Chang – Writer, ESSA
Together We Are Strong (?): How Japan’s post-war conglomerates shaped and is still shaping its future today
Japan's rapid postwar economic recovery stemmed from its collectivist corporate culture which was supported by close ties between industry and government, and aggressive government policies. But these same features that powered Japan through its rapid growth has now sent it into stagnation as it trades innovation for efficiency. To disrupt the stagnant economy, startups need flexible labour, individual rewards, and diversity - contrasting traditional lifetime employment, seniority-based promotion, and groupthink. Japan is undertaking gradual reforms to sustain some collectivism while removing impediments to creativity. Easing lifetime employment, introducing performance incentives, and supporting startups are showing promise. The balance is delicate, but finding the that sweet spot may very well be their key to another “Japanese Miracle.”
Oscar Zhu – Publications Director, ESSA