Recently, different applications of wireless sensor networks (WSNs) in the industry fields using ... more Recently, different applications of wireless sensor networks (WSNs) in the industry fields using different data transfer protocols has been developed. As the energy of sensor nodes is limited, prolonging network lifetime in WSNs considered a significant occurrence. To develop network permanence, researchers had considered energy consuming in routing protocols of WSNs by using modified Low Energy Adaptive Clustering Hierarchy. This article presents a developed effective transfer protocols for autonomic WSNs. An efficient routing scheme for wireless sensor network regarded as significant components of electronic devices is proposed. An optimal election probability of a node to be cluster head has being presented. In addition, this article uses a Voronoi diagram, which decomposes the nodes into zone around each node. This diagram used in management architecture for WSNs.
speeded up adjustment. He does note that adjustment would have been faster still had labour marke... more speeded up adjustment. He does note that adjustment would have been faster still had labour markets been much more flexible. This is an excellent book. To my mind, Bagus has put together a highly effective defence of deflation in most circumstances. A second edition (or perhaps a different book by the same author) would benefit from a discussion of, for example, present-day Japan and also the eurozone. In the eurozone, if deflation is not accepted in some countries at some times, there will be a very strong bias towards inflation because the European Central Bank will loosen monetary policy to avoid deflation anytime, anywhere. A sequel would also benefit from more explanation of the economic reforms that would reduce the costs of deflation. Indeed, the author has the potential to be something of a 'deflation guru' in the current economic climate.
In the context of the Eurozone crisis this paper re-examines the Hard ECU using the concepts of t... more In the context of the Eurozone crisis this paper re-examines the Hard ECU using the concepts of the macroeconomic trilemma and the political trilemma. We find that the Hard ECU would have been less economically and politically damaging than the euro.We conclude that it was a superior approach to monetary union.
In 2009 the euro entered a crisis from which it has yet to emerge. It has led to increased social... more In 2009 the euro entered a crisis from which it has yet to emerge. It has led to increased social tensions across the Eurozone and even speculation that the euro might break up. Against this background this paper sets out to re-examine the Hard ECU, the British government’s 1990 alternative to the Delors plan for monetary union which was adopted at Maastricht in 1992 and led to the euro. Unlike previous scholarship on the Hard ECU this paper is now in a position to compare the scheme to the euro as it actually functions, not to some hypothetical. This paper examines the original documents behind the euro and the Hard ECU from sources in Britain and on the continent. It applies new concepts of political economy, specifically the ‘monetary policy trilemma’ and ‘political trilemma’, to compare the two schemes. We find that existing explanations of the rejection of the Hard ECU, focusing on point of origin or lack of ‘flexibility’, fail to understand either the state of European monetary debate in the period 1987-1992 or the essential nature of the Hard ECU scheme itself. We find that economic critiques of the scheme on the grounds that it would not lead to a single currency are probably sound but actually count favourably for the Hard ECU. Finally, we conclude that the Hard ECU would have left greater scope for democratic politics than the euro.
LSE SU Economic History Society I Student Journal, May 1, 2014
If an independent Scotland wasn't allowed to keep the pound it would cost British businesses £500... more If an independent Scotland wasn't allowed to keep the pound it would cost British businesses £500 million each year. Railways saved the United States 2.7 per cent of 1890 GNP in transport costs. Countries with government debts of over 90 per cent of GDP will see median GDP growth rates 1 per cent lower than otherwise. If all immigration controls were removed global GDP would increase by between 67 per cent and 147.3 per cent.
The gold standard, which dominated international monetary arrangements for the last quarter of th... more The gold standard, which dominated international monetary arrangements for the last quarter of the nineteenth century and up to the First World War, was not set up at a conference like Bretton Woods or Maastricht. Countries adopted it one at a time, Germany in 1871, the US in 1879 for example. As such the "rules of the game", as John Maynard Keynes retrospectively named them, upon which the gold standard operated were never authoritatively laid down. What we know about the functioning of the gold standard and what it meant for national monetary policy comes from theory and hindsight.
This paper presents a brief comparison of the similarities between the monetary situations of the... more This paper presents a brief comparison of the similarities between the monetary situations of the United States in the late nineteenth century under the gold standard and the present day eurozone under the single currency
When currencies and monetary arrangements have broken down it has always been because the currenc... more When currencies and monetary arrangements have broken down it has always been because the currency issuer can no longer fight the lure of the seigniorage to be gained by over issue of the currency. In the twentieth century this age old impulse was allied to new theories that held that economic downturns were caused or exacerbated by a shortage of money. It followed that they could be combated by the production of money.
Recently, different applications of wireless sensor networks (WSNs) in the industry fields using ... more Recently, different applications of wireless sensor networks (WSNs) in the industry fields using different data transfer protocols has been developed. As the energy of sensor nodes is limited, prolonging network lifetime in WSNs considered a significant occurrence. To develop network permanence, researchers had considered energy consuming in routing protocols of WSNs by using modified Low Energy Adaptive Clustering Hierarchy. This article presents a developed effective transfer protocols for autonomic WSNs. An efficient routing scheme for wireless sensor network regarded as significant components of electronic devices is proposed. An optimal election probability of a node to be cluster head has being presented. In addition, this article uses a Voronoi diagram, which decomposes the nodes into zone around each node. This diagram used in management architecture for WSNs.
speeded up adjustment. He does note that adjustment would have been faster still had labour marke... more speeded up adjustment. He does note that adjustment would have been faster still had labour markets been much more flexible. This is an excellent book. To my mind, Bagus has put together a highly effective defence of deflation in most circumstances. A second edition (or perhaps a different book by the same author) would benefit from a discussion of, for example, present-day Japan and also the eurozone. In the eurozone, if deflation is not accepted in some countries at some times, there will be a very strong bias towards inflation because the European Central Bank will loosen monetary policy to avoid deflation anytime, anywhere. A sequel would also benefit from more explanation of the economic reforms that would reduce the costs of deflation. Indeed, the author has the potential to be something of a 'deflation guru' in the current economic climate.
In the context of the Eurozone crisis this paper re-examines the Hard ECU using the concepts of t... more In the context of the Eurozone crisis this paper re-examines the Hard ECU using the concepts of the macroeconomic trilemma and the political trilemma. We find that the Hard ECU would have been less economically and politically damaging than the euro.We conclude that it was a superior approach to monetary union.
In 2009 the euro entered a crisis from which it has yet to emerge. It has led to increased social... more In 2009 the euro entered a crisis from which it has yet to emerge. It has led to increased social tensions across the Eurozone and even speculation that the euro might break up. Against this background this paper sets out to re-examine the Hard ECU, the British government’s 1990 alternative to the Delors plan for monetary union which was adopted at Maastricht in 1992 and led to the euro. Unlike previous scholarship on the Hard ECU this paper is now in a position to compare the scheme to the euro as it actually functions, not to some hypothetical. This paper examines the original documents behind the euro and the Hard ECU from sources in Britain and on the continent. It applies new concepts of political economy, specifically the ‘monetary policy trilemma’ and ‘political trilemma’, to compare the two schemes. We find that existing explanations of the rejection of the Hard ECU, focusing on point of origin or lack of ‘flexibility’, fail to understand either the state of European monetary debate in the period 1987-1992 or the essential nature of the Hard ECU scheme itself. We find that economic critiques of the scheme on the grounds that it would not lead to a single currency are probably sound but actually count favourably for the Hard ECU. Finally, we conclude that the Hard ECU would have left greater scope for democratic politics than the euro.
LSE SU Economic History Society I Student Journal, May 1, 2014
If an independent Scotland wasn't allowed to keep the pound it would cost British businesses £500... more If an independent Scotland wasn't allowed to keep the pound it would cost British businesses £500 million each year. Railways saved the United States 2.7 per cent of 1890 GNP in transport costs. Countries with government debts of over 90 per cent of GDP will see median GDP growth rates 1 per cent lower than otherwise. If all immigration controls were removed global GDP would increase by between 67 per cent and 147.3 per cent.
The gold standard, which dominated international monetary arrangements for the last quarter of th... more The gold standard, which dominated international monetary arrangements for the last quarter of the nineteenth century and up to the First World War, was not set up at a conference like Bretton Woods or Maastricht. Countries adopted it one at a time, Germany in 1871, the US in 1879 for example. As such the "rules of the game", as John Maynard Keynes retrospectively named them, upon which the gold standard operated were never authoritatively laid down. What we know about the functioning of the gold standard and what it meant for national monetary policy comes from theory and hindsight.
This paper presents a brief comparison of the similarities between the monetary situations of the... more This paper presents a brief comparison of the similarities between the monetary situations of the United States in the late nineteenth century under the gold standard and the present day eurozone under the single currency
When currencies and monetary arrangements have broken down it has always been because the currenc... more When currencies and monetary arrangements have broken down it has always been because the currency issuer can no longer fight the lure of the seigniorage to be gained by over issue of the currency. In the twentieth century this age old impulse was allied to new theories that held that economic downturns were caused or exacerbated by a shortage of money. It followed that they could be combated by the production of money.
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Papers by John Phelan
trilemma and the political trilemma. We find that the Hard ECU would have been less economically and politically
damaging than the euro.We conclude that it was a superior approach to monetary union.
trilemma and the political trilemma. We find that the Hard ECU would have been less economically and politically
damaging than the euro.We conclude that it was a superior approach to monetary union.