Archive for the 'economics' Category

Trenton Resolves Branch Crisis

Neighborhood branch libraries in Trenton, New Jersey, have been granted a reprieve allowing them to remain open at least through the end of next year, library officials announced November 10. The branches will stay in operation partly by shifting staff from the main library and limiting hours there, thanks to an agreement with State Librarian Norma E. Blake, library director Kimberly M. Bray said.

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Branch Closings and Budget Cuts Threaten Libraries Nationwide

public library budgets in the wake of revenue shortfalls and dire economic news. In a grim November 6 speech in which he called for sweeping job cuts and service reductions in many city departments, Philadelphia Mayor Michael Nutter announced the permanent closing of 11 out of 54 library branches and the elimination of Sunday hours at the three regional branches. “Make no mistake,” Nutter said. “This will be a mid-year revision of epic proportions.”

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Editorial: Serving in Tough Times

With the economy already anemic and the stock market crumbling, libraries will take their share of hits, but “despite the hard times, we must continue to tell the library story to our constituents and our funders so that libraries remain a priority.”

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Strapped Brooklyn Residents Hit Library Stacks for Free ‘Loans’

A Midwood movie buff, Miguel Salazar spent $50 last month on movie rentals - cash he really didn’t want to lay out these days with the city’s economy in turmoil. Salazar, a construction worker with fewer jobs, has decided to bypass Blockbuster or Netflix and head straight for the public library for his flick fix. “I come to save some money,” said Salazar, as he took out a copy of the drama “Broken Wings” from the Midwood branch last week.

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Library Use Rises as Economy Falls

Haverhill (Mass.) Public Library Assistant Director Susan Katzenstein said the library is usually “an incredibly busy place.” But nowadays, “our usage is through the roof.” The Haverhill library is not alone. Across the region, local public libraries are reporting a surge in use, a trend officials tie directly to the economic hardship many are facing

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Economic Uncertainty Spreads to Library Endowments

The stock market losses that have recently hit global markets might be taking some carefully stewarded library endowments along for the ride. Even as the market began its dramatic mid-September seesaw of alarming drops and partial recoveries, two public library executives lost their jobs at one of the few libraries ever endowed personally by Andrew Carnegie. Panicked stock-market sell-offs have paralyzed credit lines and bond markets at the state and municipal levels and only made a bad situation worse for libraries from Oregon to New Jersey.

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Presidential Campaigns Differ on How to Help With Costs of College

Democrat Barack Obama and Republican John McCain have offered similar campaign pronouncements: a college education should be affordable to anyone, and the process of getting federal aid is more complicated than it should be — but there are differences in how each would tackle the problem.

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The Generative Nature of the Digital Economy and Its Challenge to Educators

With digital technologies and Web 2.0 surrounding us, information — and knowledge generation — is abundant as never before. This creates some big changes for higher education: With no scarcity of information or collaboration opportunities, “seat time” in a classroom is no longer just about delivering content. Trent Batson asks, “How does a teacher reclaim the value of students coming to class in this time?”

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Outsell Publishes Report Forecasting Growth of Information Industry till 2011

Media industry-focused research and advisory firm Outsell, Inc. has released a new report titled 2008 Information Industry Market Size, Share & Forecast Report. According to the report, revenues for the worldwide information industry are on track to reach $466 billion by 2011. Outsell forecasts a compound annual growth rate of 4.5 percent for the information industry from 2008 through 2011, with the market essentially holding steady in 2009 and beyond despite the challenging economy and a contracting news segment.

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Trenton Library Plans to Close All its Branches

A potential citywide budget deficit of as much as $28 million has led the Trenton (N.J.) Public Library to develop plans to close all four of its neighborhood branches. Library Director Kimberly Bray announced the library board’s decision, which followed an across-the-board 10% cut in funding to all city departments, in an email to staff September 10. Some 60 residents attended a September 23 city council meeting devoted to the closings—the third such meeting held over eight days—at which Bray described three options, all requiring staff layoffs.

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Seven Ways Your Library Can Help During a Bad Economy

Meg Marco writes: “Reader MG is a fan of this site and a public librarian and has written a list of seven ways that your library can help you during a bad economy. Libraries are an excellent resource and they’re pretty easy to use. Don’t worry if you’re not a big reader, there’s lots more stuff to do at the library besides just checking out books.”

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Fight Over a Beloved (And Lucrative) Book

U of Nebraska Press sold almost one million copies of a book about American Indians on the Great Plains. The director moved to SUNY and now the book is moving too. Fair game or unfair edge?

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As Textbooks Go Custom, Students Pay

College students, already struggling with soaring tuition bills and expenses, are encountering yet another financial hit: Publishers and schools are working together to produce “custom” textbooks that can limit students’ use of the money-saving trade in used books. And in a controversial twist, some academic departments are sharing in the profits from these texts.

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$161 Million Invested in 16 Virtual Worlds-Related Companies in 2Q 2008, $345 Million Invested in First Half of 2008

Virtual Worlds Management released a new report recently tracking the virtual worlds-related investments of Q2 2008. $161 million was invested in 14 companies, not including two companies that were acquired for unknown amounts. Full List Here. This compares with $184 million dollars in 23 virtual worlds related companies during the first quarter of 2008. That puts the total amount invested in the first 6 months of 2008 at $345 million.

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50 Things You can Blame on Rising Oil Prices

For a sense of how deeply the oil-price story is woven into the fabric of life in 2008, Buzzwatch compiled a list of 50 things being attributed, at least in part, to high fuel costs. Quite a few are relevant, among them: schools cutting back on field trips, community colleges cutting Friday classes, the return of the bookmobile, and longer waits for the campus bus.

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Survey of Academic Libraries, 2008-09 Edition

The Survey of Academic Libraries, 2008-09 Edition is based on data from 75 college libraries in the United States and Canada. Data is broken out by size and type of college, as well as for public and private institutions, to allow for easier benchmarking. The report’s more than 300 tables of data present findings about trends in staffing and salaries, budgets, grants and endowments, special collections, content and materials spending, use of e-books and online services, capital budgets library building renovation and facilities management, information literacy, and many other issues of interest to academic librarians.

Some of the report’s findings are: Only 22.5% of the colleges sampled believed that librarians’ salaries had been going up faster than the rate of inflation, while more than 34% believed that their salaries in the past year had gone down in real terms. Librarians in private colleges were more likely than their counterparts in public colleges to believe that their salaries had gone down in real terms in the past year.

For the libraries in the sample the mean rate of growth in content spending in nominal terms was only 1.75% from the 2006-07 to 2007-08 academic year. Spending actually declined for the public colleges in the sample and grew only at about the rate of inflation for the private colleges. The expected rate of increase in spending for the 2008-09 academic year is only 1.66%. Private colleges in the sample had a mean expected increase of 3.1%, slightly less than the expected rate of inflation, while the public colleges essentially foresaw an increase of less than 1/10th of 1 percent, a decline in real terms of about 3.5%.

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A School For Kids Living In Poverty: A Question Posed: What Do You Call Homework If You Have No Home?

A teacher tries to shush her young students, telling them to be “as quiet as a mouse.” The familiar idiom sounds harmless, but it might carry a different meaning for children whose families can’t afford garbage service. Their home could be plagued with rats. If they live in a shelter, with disruptive bed checks throughout the night, children often come to school sleep-deprived. Uncertain of where they’ll be living the next week and traumatized by aspects of homelessness, impoverished students and their parents might view education strikingly different than middle-class families.

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Young Canadians More Educated Than Parents, Earn Less

A Statistics Canada report reveals that while twenty-somethings in Canada have more higher education than their parents did in the previous generation, they earn significantly less.

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Fostering Innovation Culture in an Unpredictable Economy

With the looming threat of recessionary times ahead and predictions that 70 percent of today’s revenue generating products will be obsolete by 2012, 2008 brings some unwelcome challenges to business. While many companies are hunkering down to weather the storm, global leaders understand that in economically challenging times it is critical to drive the market, instead of being driven down by it. This understanding is stimulating renewed discussion among executives on how to establish a culture that drives sustainable innovation to build value in lean times. Yet, executive commitment to an innovation culture does not necessarily translate into high performance execution of the innovation agenda. Surveys from leading consultancies and analyst firms also confirm that most companies are lacking in leadership or tools to innovate successfully and consistently.

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Wikipedia Insiders Hotly Debate Future Fortunes

Scroll the list of the 10 most popular Web sites in the U.S., and you’ll encounter the Internet’s richest corporate players — names like Yahoo, Amazon, News Corp., Microsoft and Google. Except for No. 7: Wikipedia. And there lies a delicate situation. With 2 million articles in English alone, the Internet encyclopedia “anyone can edit” stormed the Web’s top ranks through the work of unpaid volunteers and the assistance of donors. But that gives Wikipedia far less financial clout than its Web peers, and doing almost anything to improve that situation invites scrutiny from the same community that proudly generates the content.

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Print Encyclopedias in Crisis

A series of announcements from publishers across the globe in the last few weeks suggests that ahead of other books, magazines, and even newspapers, the classic multivolume encyclopedia is well on its way to becoming an internet casualty. Sales of the printed edition of Encyclopaedia Britannica are just 10% of what they were in 1990, Brockhaus is putting all 300,000 of its articles online for free, and Gyldendal has decided that the subscription plan for its online encyclopedia is misguided….

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Magazines Dust Off Their Back Issues

As magazines and newspapers hunt for the new thing they need to be to thrive in the internet era, some find that part of the answer lies in the old thing they used to be. Publications are rediscovering their archives, like a person learning that a hand-me-down coffee table is a valuable antique. For magazines and newspapers with long histories, especially, old material can be reborn on the Web as an inexpensive way to attract readers, advertisers, and money.

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UK Culture Secretary Recommends Home Delivery and Web-based Lending

Margaret Hodge, the Culture Secretary of the United Kingdom, on Thursday issued a tough challenge to the Association of London Chief Librarians, asserting that new programs like web-based lending with home delivery and libraries in shopping centers and train stations are necessary to revive public interest. Though overall library spending is up 17% over the last ten years, the number of books borrowed is down by 34%, she said: “I know you’ll plead resources, but I don’t think that’s the real reason for the decline. In my view the offer from libraries needs to be different

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Harsh Realities About Virtual Ones

Since the 1990s, educators have been focusing on access to Internet as a means of engagement, concerned about the digital divide; now that the divide has been bridged, we are concerned about access to education. Cause and effect here correlate. Rising costs of a college degree at our wireless colleges and universities have resulted in increasing public scrutiny, student debt and budget models based on marketing rather than pedagogical concepts. Academe’s insatiable investment in virtual worlds, social networks and other consumer applications is a benchmark of how far we will go and how much money we will spend in the name of engagement.

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Women Share a Secret: “I Got My Start at the Library”

Continuing a seven-year partnership with ALA’s Campaign for America’s Libraries that has generated millions of dollars worth of editorial coverage on behalf of libraries, four entrepreneurs share their stories of how they started businesses using the library in Woman’s Day magazine’s March issue.

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Information Economy Report 2007-2008

The Information Economy Report 2008 - Science and technology for development: the new paradigm of ICT, analyses the current and potential contribution of information technology to knowledge creation and diffusion. It explores how ICTs help generate innovations that improve the livelihoods of the poor and support enterprise competitiveness. The report examines how ICTs affect productivity and growth and reflects on the need for a development-oriented approach to intellectual property rights in order to enable effective access to technology. ICT has also given rise to new models for sharing knowledge and collective production of ideas and innovations, known as “open access” models, which often bypass the incentive system provided by intellectual property rights. The Report presents a current cross-section of themes and analysis that aim to inform and enable governments to understand the policy challenges and opportunities. The analysis identifies important areas of concern and best practices necessary for the formulation of targeted policy decisions to support and accelerate ICT diffusion.

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Budget Report 2008: Treading Carefully: Budgets Nudge Upward, But Many Libraries Remain Wary

On the face of it, the libraries that reported back to us in the annual Library Journal Budget Survey are doing reasonably well, continuing the modest growth we reported last year. However, a closer look suggests that budget increases may not go far enough. While 81% of all respondents projected an increase in total operating budgets, only 68% said they expected materials funding to go up. Still, the core numbers look stable, even though growth in revenue doesn’t mean a library has become rich, just as some facing slowdowns remain well funded. For instance, per capita funding increased 7.8% from FY06 to FY07, while an increase of 4.2% was projected for FY08. That would put average per capita funding at $40.49, continuing steady progress.

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Librarians Say the MLS Matters; Cost a Key Issue

Although a vigorous debate continues to rage about what should be taught in MLS programs, respondents to Library Journal’s recent job satisfaction survey suggested there was one overarching reason why the MLS was important to them: advancement. But, while you can’t afford not to have the degree if you expect to advance professionally, paying for the degree is another matter. “Cost is a huge issue,” library student Claudia McGivney told the LJ Academic Newswire. “It is difficult to work full-time and go to school, and many people do not want to be burdened by more loans.”

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Outsell: Revenue Growth Slowed for Information Industry in 2007

Revenue growth for the information industry slowed 5.3% last year to $381 billion, compared with 6% growth in 2006, according to a report released recently by market research and advisory company Outsell. The report, “Information Industry Market Size and Share Rankings: Preliminary 2007 Results,” analyzed data on the information industry as a whole, as well as 12 separate segments. These segments included b-to-b trade publishing; company information; market research, reports and services; IT and telecom research.

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Survey Shows U.K. Libraries Spending More

With nearly 300 million visits to England’s public libraries in 2007, more than 10 million new books added to the stock, and 17% increased spending, libraries in the U.K. still must make better use of funds, improve customer service, and boost usage, according to a report released January 14. The definitive annual library statistics, published by CIPFA (Chartered Institute of Public Finance and Accountancy) paint a picture of changing trends in public library usage.

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A Library’s Economic Value

An Indiana University report has confirmed the economic value of the state’s public libraries: a total market value of goods and services estimated at $629.9 million and a return of $2.38 on each dollar of investment. The November report, by the Indiana Business Research Center at IU’s Kelley School of Business, concludes that public libraries are a good value, serving as “an important channel for literacy, education, and information.”

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Yale Announces Plan to Cut Tuition for Many

Yale University is slashing the cost of tuition by as much as 50% for some students, joining a list of elite schools seeking to make college more affordable for lower-, middle- and upper-middle-income families.

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2008: Year of Information Overload?

Interruptions aren’t merely annoying; they’re also bad for productivity. And when you multiply the interruptions made possible by email, phone calls, text messages, and Twitters across the entire US, the result is lost productivity on a massive scale: $650 billion in a single year. That’s according to research firm Basex, which chose “information overload” as its 2008 “Problem of the Year.” Failure to solve the problem will lead to “reduced productivity and throttled innovation.” The situation is dire enough that Intel’s Nathan Zeldes estimates “the impact of information overload on each knowledge worker at up to eight hours a week.”

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Knowledge Management and Competitiveness

The World Economic Forum (WEF) in Davos, Switzerland, recently issued its annual ranking of the world’s most competitive countries. The U.S. regained its number one position, having lost it to Switzerland in the 2006 listing. The release of the WEF study was met with huge interest by multinational companies as well as the heads of state of just about every country. What is this all about? In effect, we hear a lot about the knowledge economy as the goal that individual nations must seek. The World Bank defines it as “an economy that creates, acquires and uses knowledge effectively for its economic and social development.” But what are the links between a knowledge economy and a competitive one? How does knowledge impact the ability of a firm, or of a nation, to compete?

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Harvard to Boost Aid for Middle and Upper Income Families

In a move seen as likely to accelerate an ongoing trend among elite colleges, Harvard University announced recently that it will sharply increase financial aid for undergraduate students from middle-class and wealthy families. The Cambridge, Mass., university will overhaul its current financial aid program in favor of a relatively simple formula: Beginning next fall, families earning more than $60,000 will pay a percentage of their annual income for tuition and fees, rising to 10 percent for those earning between $120,000 and $180,000 a year. As of last year, families earning $60,000 a year or less pay nothing.

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Outsell Report: Overseas Markets for Information Could Outpace Those in the Americas by 2010

The market for information in Asia, Europe, the Middle East and Africa is heating up so fast that it has the potential to outpace the Americas market within two years or less, according to a new report from market research company Outsell.

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PC Usage is Shrinking in Japan

Masaya Igarashi wants $200 headphones for his new iPod Touch, and he’s torn between Nintendo’s Wii and Sony’s PlayStation 3 game consoles. When he has saved up again, he plans to splurge on a digital camera or flat-screen TV. It’s clear why consumers are shunning PCs. Millions download music directly to their mobiles, and many more use their handsets for online shopping and to play games. Digital cameras connect directly to printers and high-definition TVs for viewing photos, bypassing PCs altogether. Movies now download straight to TVs.

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Making Intellectual Property the Future Currency of Malaysia

Microsoft is doing its part to drive the growth and the economic contribution of the local information technology industry. Having set foot in Malaysia 15 years ago, the software giant has been instrumental in fostering the local software economy, as it believes intellectual property (IP) will become the future currency to spur the nation’s growth. Microsoft Asia-Pacific president Emilio Umeoka said that for Malaysia to be a competitive knowledge-based economy, it would need to transform into a net exporter of IP.

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Economics 2.0? A Business Primer on Virtual Worlds

In August 2007, the digital world experienced a first: a genuine run on a bank located on the “virtual world” Second Life. As depositors rushed to withdraw their funds from the shadowy Ginko Financial, their predicament drew much attention. But far from identifying it as a calamity, to many commentators it confirmed the faithfulness of the computer simulation: after all, the real world had long experienced insolvencies, too.

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Spending on Knowledge Management will Hit $73B in 2007

According to a new report released by AMR Research, U.S. companies will spend $73B on knowledge management software in 2007, and spending will grow nearly 16% to an average of $1,224 per employee in 2008. As a growing number of needs and initiatives are left unsupported by established enterprise applications, the demand for KM technologies has increased, leading to record-level activity in knowledge management; content management; navigation, search, and retrieval; and collaboration platforms.

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Read the overview of the report here

Beyond Search – Semantic Computing and Internet Economics

The surface Web consists of tens of billions of pages in over 80 languages and is growing rapidly. Beneath this surface Web, lies a deep Web of much greater size. Tens of thousands of merchants offer millions of products. Complexity, size, and rate of expansion combine to make finding information and products on the Web a significant challenge. The ‘user,’ now participates as an ‘innovator’ and ‘contributor,’ adding to the size and content, but not necessarily the structure, of the Web. Today, we are still in the early stages of the digital information age, with few opportunities to greatly improve the ways in which the information seeker finds information. Some of the key technologies needed to find, discover, extract, publish, share, or supply information, while making sure that the online world does not turn into a primary place for information leaks, include: Semantic Computing (making the web meaningful), Internet Economics (understanding the commercial needs of the users).

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Britain Lagging in Education Sector Growth

Britain’s higher education system is expanding less rapidly than that of many of its economic competitors, a report from the Organisation for Economic Cooperation and Development (OECD) recently warned. Although British universities and colleges recorded impressive growth in recent years, many other countries are catching up, the report reveals. Thus, while the graduation rates for traditional first degree students in the UK rose from 37% of 20 to 21-year-olds in 2000 to 39% five years later, Britain’s place in the league table of more than 20 countries by this measure of educational performance fell from third to 10th.

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Organisations with Access to an Enterprise Library Enjoy Significant Return on Investment (RoI)

Libraries can ‘make a powerful argument for their own value’ according to new return-on-investment (RoI) reports from Outsell. The information analyst company measured library end-user feedback from corporate, government and the health and education sectors. Outsell say the findings of their results should encourage information providers, libraries and publishers to highlight the quantifiable contribution they make to an organisation.

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