Basic Funding Research Articles

Enhancing innovation in aviation: Applying the Triple Helix Model and PMBOK in the UAE-Sweden partnership

To sustain economic growth and generate new ideas for innovation, academia, industries, and governments should cooperate to develop successful research and development ecosystems. Indeed, the collaboration between these parties is required to extend beyond the basic funding provided by industries to research projects conducted by universities. Hence, collaboration must occur in an integrated environment so that each party plays its role including problem identification, setting the regulations, funding, conducting the research, etc. On the other hand, due to globalization, collaboration in research and development has become international where teams from different countries or continents collaborate in various ways. Indeed, the integrated collaboration between industry, governments, and academia improves the impact of the research outcome on society by addressing problems of interest to society while involving all the concerned parties. One of the known frameworks in this context, the Triple Helix Model (THM), has been used in this study to foster international collaboration in aviation. The international collaboration involved two universities representing academia, civil aviation authorities, public funding bodies, and air navigation services representing the government bodies, in addition to aviation industries from Sweden and the United Arab Emirates. The focus of the collaboration was the development of knowledge-based open innovation in the form of a traffic management tool that optimizes, simulates, and visualizes delivery scenarios of unmanned aerial vehicles (UAVs).This paper aims to formalize the collaborative framework that has been used in the international collaboration mentioned above, and that combines the THM and PMBOK models so that it can be used for managing innovation projects of similar nature throughout their lifecycle. Moreover, the challenges that have been encountered by the teams involved in the collaboration are discussed in this paper in addition to the mitigation strategies that have been used to overcome them which can be beneficial for other similar collaborations. Finally, the study results encourage industries, governments, and universities to establish further projects based on the same framework to spur and maximize knowledge-based innovation for social and financial growth.

When colleges graduate: Micro-level effects on publications and scientific organization

We examine the change in status of three Swedish colleges to universities in 1999. This change greatly expanded the inflow of resources in the form of basic funding to the new universities. Using detailed individual data, we follow the careers of staff employed before 1999 at the treated institutions, examining their scientific performance, promotion, affiliation, and coauthorship behavior after the transition to university and comparing them to that of matched sample researchers at control colleges in a difference-in-differences analysis. We find an 89 percent increase in publication by publishing academics, an effect driven by increased funding. But we do not find an increased likelihood of publishing. Publication activity is concentrated among men, those working in technical sciences, and those holding research positions. The change to a university also led to a shift toward research-enhancing practices and organizations, manifested in coauthorship patterns, affiliations, and workforce composition. These changes altogether, enabled the new universities to begin converging in terms of research productivity to the level of established universities. Our results indicate that additional resources to institutions that historically received insufficient investment unlocked the research potential of aspiring researchers.

Resource base of the building materials industry as the basis for sustainable development of the economy

The study of the resource base impact on the development of building materials industry economy is presented. The proposed analysis showed the need to synchronise intersectoral interactions aimed at the progressive development of the construction industry. The suggested approach to the formation of a mechanism for sustainable development predetermines the business model within the framework of sustainable development concept and the opportunities, the emergence of which is due to digitalisation of industrial relations. In the study, the author defines the contexts that form the approach to sustainability of development. It is offered to consider the given phenomenon in the economic context through the reproduction component. The offer made it possible to formulate an approach to the creation of a mechanism for this occurrence based on the resource potential formation, the use of which should lead to increasing returns when changing a business model of a set of enterprises. The mentioned model of interaction between enterprises is oriented towards sustainable industrial development, contributes to application of new approaches to reproduction of basic funds, distribution of resources and resource base formation. The usage of the ecosystem approach while considering the issue of sustainable economic development of building materials industry stipulated interaction of related sectors as the main priority. This is done to increase competitiveness and provide the strategy of building materials industry development.

Research organisation and research strategies at Universities of Applied Sciences (UAS) in the tension triangle between politics, researchers, and internal decision makers: a case study example of the IMC Krems in Austria

This study examines the circumstances and unique features of research activity at Austrian Universities of Applied Sciences (UAS), highlighting the various demands and interests of various stakeholders. Utilizing a case study approach based on an extensive literature review, data was gathered regarding the preferences and expectations of various UAS stakeholders, both present and future, in order to identify any gaps or conflicting needs that need to be taken into account in an all-encompassing research strategy. Guideline-based interviews with experts, the management board and researchers at the IMC Krems were conducted. The findings demonstrate how competitive and dynamic the UAS sector is, with a focus on applied research and teaching activities. UAS are characterised by a relatively broad range of research topics with moderate relative specialisation, application orientation and close collaboration with local stakeholders. The majority of research funding at UAS comes from third-party funds or commissioned research, because the institution lacks basic research financing. Main opportunities for UAS are seen in dissertation rights for this sector and basic funding from the federal government to have more open-topic research. The findings of this study should encourage UAS to critically evaluate their research organisation and align it with their core mission: teaching and applied research.

Chronology or Context: Temporality and Artificiality of Museum Collections

Although museum collections represent a temporary assemblage of “affiliated objects”, aimed at facilitating the responsible curation of the museum funds, in practice they are treated as an obligatory unit, without which the museum object itself does not exist, and they are imminently permanent. The origins, as well as the consequences of their formation may differ.
 The text examines several issues concerning the artificiality and temporality of collections: what are the values we observe when museum collections are formed, are these values transparent and permanent? Which attributes are con- sidered as crucial bythe curators in the classification of archaeological material and are these classifications consistent?
 Does chronology/periodization prevail in practice and how are the boundaries between the periods established? Is context preserved or, more precisely, is an object attributed along with the other artefacts from the same unit, which was carefully separated during excavation? What or whoinfluences the processes of formation of museum collections?
 The analysis is conducted on the case of the National Museum of Serbia, the oldest and the main museum institution, primarily because the archaeological objects form its basic fund ever since its establishment in 1844. Today, there are several hundred-thousand objects, organized into 16 basic collections and study material. Along with the obligatory authenticity, dating is most frequently the basic principle on which classifications are based, concerning period, origin, or typological systematization. Chronology – period/sequence – is also the main criterion of the permanent museum exhibitions, and necessary to custodians inmediating the disciplinary knowledge.
 Custodians “re-arrange” the past, starting from a museum object and collection, creating specific units of museum(archaeological) time – time capsules, frozen reconstructions, new realities. The museum may thus be understood as a contextdetermined by multi-temporality, or the co-existence of different times.
 Furthermore, working from the idea of Bennet (2009) that the museum may be identified as “the field”, it can also be interpreted as a “multi-layered site”. Various actors – object, collection, custodian, public – contribute to the accumulated character of the record. The “museum layering” is determined by the diversity of the criteria of acquisition, various attributes of classification, the artificiality of collections, transitionary value of objects, as well as personally and socially determined interpretations.

ТЕОРЕТИЧНІ ОСНОВИ ФОРМУВАННЯ ОРГАНІЗАЦІЙНОГО МЕХАНІЗМУ УПРАВЛІННЯ ЕКОНОМІЧНОЮ БЕЗПЕКОЮ БУДІВЕЛЬНИХ ПІДПРИЄМСТВ

The theoretical bases of the formation of the organizational mechanism of management of economic safety of construction enterprises are generalized. It was noted that the current state of construction enterprises in war conditions has revealed many problems with regard to the efficiency of the use of basic funds, innovative activity and the level of automation of technological processes in the poor. All these problems significantly affect the level of provision and management of economic safety of construction enterprises. It is determined that the organizational mechanism of management of economic safety of the construction enterprise should include the interaction of two subsystems: management, which affects the level of economic security of the building enterprise, and subordinate, on which this influence is directed. Functions of the economic safety management system of the construction enterprise ensure the interaction of these systems. It was noted that the management mechanism of economic safety of the construction enterprise should ensure the development of the basic principles of the management system, the creation of the economic security service at the enterprise, the collection of necessary information and supervision of compliance with the planned indicators. On the basis of the definition of the main elements of the organizational mechanism of management of economic safety of the construction enterprise, the conclusion was made that the organization mechanism is a set of organizational components in the management mechanism (objectives, functions and tasks of management, technologies and methods of management; rules, norms and principles; organizational processes), which have a certain management influence on ensuring economic security and preserving the commercial interests of the business entity. Defined directions of the organization of the process of management of economic security, as well as requirements to the organizational structure of management. It was concluded that the formation of an organizational mechanism for the management of economic safety of construction enterprises will enable them to provide stable work, to conduct timely identification and prevention of threats, to determine their impact on enterprise activities, to take management decisions promptly to prevent or eliminate the risk of threat.

Сучасні методики технічної освіти в умовах дистанційного навчання

The article substantiates the trends and prospects for the development of distance education. It was noted that the development of methods and the development of remote forms of the educational process belong to innovative methods of training future specialists. A promising path for the development of distance learning has been revealed in accordance with the development of world trends related to the development of new information technologies and systems for establishing communications between various strata of population groups and, including, the educational sector.
 The expediency of the development of remote forms of education in Ukraine is substantiated and it is noted that such methods will motivate the students themselves to the need to increase their informational and intellectual level, capable of mastering new forms of acquiring professional abilities. It has been proven that the creation of remote forms of education will contribute to the improvement of the professional level of teaching staff and the level of mastery of computer technology, as it requires high professional abilities from teachers in the process of providing educational services using modern information technologies.
 Generalized features of distance learning methods are presented and brief characteristics of each of them are given. Separate information technologies, tools and the most popular online platforms used for organizing training in a distance format are considered. The main advantages that teachers and students receive when studying in a distance format are highlighted, and, in particular, the high mobility of students, which in turn does not require their strict presence in classrooms and laboratories of educational institutions. It is indicated that the introduction of distance learning allows to significantly reduce the expenditure items of the educational institution on utility payments. At the same time, the distance education system does not require the educational institution to have and maintain a wide list of basic funds, including classrooms for the full-time educational process in the presence of students. Such features of obtaining educational services are especially relevant in modern conditions, when Ukraine is waging a war of liberation with the Russian Federation.

From R&D Innovation to Academic Capitalism in Finland

Higher education policy in Finland has shifted toward academic capitalism as an extension to new demands for competitiveness placed on higher education institutions. The Finnish Ministry of Education has been involved for some time in reforming the Finnish higher education system with the aim of increasing outputs in research innovations and laying the groundwork for academic capitalism. In other words, political guidance has sought to reform research as a qualitative change, rather than commit to increasing investment. Looking at the statistical indicators of Finnish research and development, particularly in the context of Finnish universities, shows how in practice Finland has introduced ideas of academic capitalism locally by moving away from basic funding into a more competition-driven funding system. Competitive logics are filtered down from the level of national higher education policy to university level through policy tools, such as performance-based funding. Furthermore, the Finnish system shows a relatively high susceptibility to political control, which can be viewed as a challenge to substantive academic autonomy.

MARKETING STRATEGY OF DIVERSIFICATION OF THE STRUCTURE OF INTERNATIONAL TRADE OF TOURIST SERVICES

In the economy based on the market attitude, the promotion of the tourism industry through the effective use of limited resources, the increase of the flow of foreign capital, and the increase of production efficiency are of significant socio-economic importance. The main goal of economic activity is to achieve the final result of tourism product production with low costs and spending resources. Ensuring stable economic growth in the country in the conditions of market relations is inextricably linked with issues of improving service efficiency. The creation of objective conditions for sustainable development of the country's economy requires investment in the economy, renewal of basic funds, and implementation of modern and targeted projects.

UAE Sovereign Achievements and Future Aspirations in Vision 2030

Sovereign funds are seen as an economic phenomenon, it was created by the majority of the oil countries, with the aim of save and invest the financial surpluses have been accumulated as a result of rising oil prices, and their utilization in several sectors either within or outside the State. The research aims to identify the sovereign funds in general by clarify the reasons for its establishment, goals, and types. In particular, with a focus on the experience of the UAE by showing the three basic Funds, Investment Corporation of Dubai, Abu Dhabi Investment Authority, and the Maubadala Development Company, and how these funds contributed to achieve economic development and income diversification in UAE.

Developing a self-funding model for private schools in Jordan

The purpose of the study was to identify the sources of self-financing in private Jordanian schools from the perspective of shareholders, the challenges that limit the increase and diversification of self-financing sources, and the actual procedural steps that school principals need to take to increase and diversify these sources in private schools. The researcher used the mixed method (quantitative and qualitative) as the general method for the study. To achieve the objectives of the study, two instruments were used to collect data. The first was a one-on-one semi-structured interview with school shareholders to explore the sources of self-financing of private schools, and the second was a five-scale questionnaire that included two axes. The first axis refers to the actual procedural steps taken by private school principals to increase and diversify sources of self-financing. The second axis was intended to capture the challenges faced by principals of these schools that limit their ability to increase and diversify these resources. The validity and reliability of the study instruments were tested. The study sample included (50) shareholders and (250) school principals in the capital city of Amman.The results of the study showed that from the shareholders’ perspective, school fees ranked first in relative importance as a source of self-financing for private schools and that the best executive measure that would lead to increased self-financing is the “Providing additional paid academic services for students (notes, question banks, photocopying, etc).” The results also showed that the biggest challenge that would limit self-financing is the “Limited purchasing power of local community members in light of emergency crises such as the Corona pandemic.” The findings also showed that school principals believe that expanding executive procedures to diversify resources would reduce the challenges they might face. The study recommended the development of a strategic plan to diversify the self-financing sources of private schools in Jordan to reduce their dependence on student fee as basic funding, as well as the development of an appropriate procedural guide to assist school principals in implementing the strategic plan.

BUSINESS ECONOMY: EFFICIENT USE OF FIXED ASSETS

The basis of all production are the objects of fixed assets. When considering the structure of fixed capital, they occupy the largest share. Rational use of fixed production assets has a positive impact on profit and labor productivity. With optimal use of fixed assets there is an acceleration of their turnover. Acceleration of turnover significantly contributes to addressing the issues of reducing the gap in the timing of physical and moral wear and tear, as well as accelerating the pace of their renewal. Analysis of the efficiency of fixed assets is an important problem, because fixed assets are an essential element of the economic potential of any organization, and their analysis is necessary to improve production efficiency. Fixed assets constitute the production power of enterprises, act as an indicator of their technical equipment, directly related to the efficiency of labor resources, mechanization and automation of the production process, input intensity of production and its profitability level. In this connection, the analysis of ways of effective use of the basic means take the basic place in the work of the enterprises. The article analyzes the problem of rational use of fixed assets, as well as ways to improve the use of basic funds by the enterprise. The relevance of the theme of the article is due to the fact that fixed assets are an integral part of any business entity, without them you can not run the business. The aim of the article are recommendations for using ways to improve the efficiency of fixed assets on the basis of a comprehensive analysis of the works of domestic and foreign scientists, whose research is devoted to the study of this problem. The article presents a review of the concept of «fixed assets» by both scientists’ economists and the legal framework.

Peculiarities of Evaluating the Activity of Scientific Organizations in Some Countries of the Former USSR

Methodological approaches and peculiarities of evaluating the activity of research institutions in the countries of the former USSR are considered. Thus, in the Republic of Kazakhstan, according to the "Methodology for evaluating the activity of entities of scientific and (or) scientific and technical activity", each indicator is assigned to a certain block provided in the "Rating list of entity". The significance of indicators in blocks is regulated by feasible parameters. The quality of scientific and scientific and technical activities is determined by summing up the integral assessments for all blocks. According to the total number of points received, the commission makes a decision on the recommendation of the entity of scientific and technical activity for accreditation.
 In the Republic of Armenia, a rating model for evaluating the results of their activities is used to distribute the basic funding of scientific institutions. The evaluation takes place according to seven criteria, represented by indicators, which are used to calculate the coefficient of evaluation of the effectiveness of the scientific activity of the institution. At the same time, pre-formed groups of institutions engaged in scientific activities in similar fields of scientific research are subject to evaluation.
 In the Republic of Uzbekistan, with the goals of creating a competitive environment in the field of scientific research and development, stimulating an increase in the level and quality of scientific activity, ensuring effective mechanisms for managing the scientific sphere, rational use of scientific potential and financial resources, the "Methodology for determining the rating of scientific institutions" was approved. The framework of the rating is based on the principles of impartiality, transparency and fairness, as well as criteria determined by indicators. Indicators are calculated according to formulas, based on the results of which points are determined. According to the points, a ranking of institutions is formed and they are divided into groups.
 The conclusion is as follows that in the considered countries of the former USSR, preference is given to a quantitative approach aimed at obtaining a final assessment in the form of a single numerical indicator. Such an assessment does not include the quality of research and the specificity of activities in various fields of science, does not reflect the importance of the results, and therefore does not characterize the effectiveness of a specific scientific institution. The mentioned approach raises questions about its objectivity, as it does not allow to avoid manipulations with the assignment of certain points, which occurs artificially. The difference in the methods used to evaluate the effectiveness of scientific institutions in Ukraine is indicated.

Громадські організації української діаспори в Естонії

The article analyzes quantitative and qualitative data related to the activities of non-governmental organizations of Ukrainians in Estonia, including the structure of umbrella organizations, sources of funding, frequency of cultural events, their content and attendance. A comparison with the number of members of informal online associations of Ukrainians in Estonia, as well as with official demographic statistics, shows that there is significantly low coverage of the Ukrainian community by the services of Ukrainian diaspora organizations in Estonia. Based on a survey of members of informal online associations of Ukrainians in Estonia, it is shown that despite the general awareness of the goals of diaspora non-governmental organizations, primarily young immigrants with little experience in the country feel the dissonance between the activities of these non-governmental organizations and their needs, which leads to negative views on the activity of organizations of the Ukrainian diaspora in Estonia and weak involvement in the life of the local community. At the same time, the extensive network of Ukrainian diaspora organizations in the country, the availability of basic funding for those organizations from the Estonian government and material and technical support, long experience and relevance of issues related to the Ukrainian community in Estonian society, became a necessary prerequisite for a rapid and positive response of Estonian society to the significant influx of Ukrainian refugees who arrived after the full-scale invasion of Ukraine by the Russian Federation and the active mobilization of Estonian society to help war survivors.

Application of statistical dependencies to evaluate economic indicators of production efficiency by the example of oil fields in Azerbaijan

Improving the use of basic funds and production capacity in oil and gas recovery is not only the introduction of new techniques and technology, but also the improvement of labor, management and organization of work. The process of renewal of the fixed capital and production forces is considered intensive at the time when the vast majority of the newly incorporated basic funds and forces are aimed at replacement of morally obsolete and physically worn out parts. This time, their compliance with the economically justified life expectancy is of interest. All these are elements of recycling. Oil and gas wells are important elements of the active part of the main production funds and they determine the future development of oil and gas recovery. Productive use of production wells for oil and gas recovery is considered as a source of improvement of production efficiency in terms of production-resource potential (PRP). In order to increase the efficient use of oil and gas wells as an active element of the main production funds, special attention is paid to both extensive and intensive factors at oil and gas production enterprises.

Analysis of the Principles, Models and Mechanisms of Financing of University Science in Russia

Introduction. The development of university science is one of the pri­orities of the state scientific and technical policy, as evidenced by the increase in funding and organisational and legal changes in the func­tioning in this field. The Decree of the President of the Russian Federa­tion "On the National Development Goals of the Russian Federation for the Period up to 2030" dated July 21, 2020, sets the goal of "ensuring the presence of the Russian Federation among the 10 leading coun­tries in the world in terms of the volume of research and development, including through the creation of an effective system of higher educa­tion". In this regard, according to the authors of the article, it is relevant to study the existing principles, models and mechanisms of financing of university science, as well as an assessment of the current amount of funding for research in universities by the main sources and mech­anisms of financing on the basis of available statistics. Methods. The methods of statistical data analysis, comparison and generalisation of the obtained results, methods of comparative analysis of socio-eco­nomic information, international methodology of calculation of so­cio-economic indicators, agreed by the OECD, UNESCO and Eurostat were used in the paper. Results and Discussion. The contribution of university science to the scientific complex of the country remains in­ significant. The peculiarities of the Russian sector of higher education are the predominance of basic funding over competitive funding, as well as the priority of funding of "academic science" over higher edu­cation. In general, the extensive growth of university science in recent decades is mainly associated with state support. At the same time, this growth is uneven due to the concentration of this support on a small group of leading universities, especially federal, research and reference universities. Conclusion. According to the authors, the achievement of the national goal of ensuring the presence of Russia among the 10 leading countries in the world in research and development by 2030 will require a review of the approach to funding scientific research of universities of different profiles in Russia.

On Compiling a Dictionary of the Early Migration Dialect of the Vologda-Vyatka Group of the Northern Russian Dialect

This article presents main arguments and preliminary information concerning features of the early migration dialect of the Vologda-Vyatka group of the Northern Russian dialect, primarily the vocabulary specificity of Loyma village dialect (Priluzsky district of the Komi Republic). The composition and content of the Loyma Dictionary reflect those traits. As an illustration, this paper presents several original dictionary entries of the gizaurus digital frame-thesaurus version of the Loyma Dictionary. The article briefly describes the main features and fundamental differences of the Loyma dialect from similar ones and the principles of including dialect materials in the dictionary. Creating the Dictionary of Loyma village Russian dialect presents the future possibility to include information about the lexical composition of the territorial (local) version of the early resettlement Russian dialect of the Vologda-Vyatka group of the Northern Russian dialect in the Dialectological Fund of the Russian language and in the general structure of the basic academic national dictionary fund of the Russian language.

Application of Smart Healthcare in LTCI, Outpatient Mutual-Aid Guarantee Mechanism, and Sustainability of Medical Insurance Fund for Urban Employees.

With the aggravation of population aging and the increase of life expectancy, long-term care insurance (LTCI) system has been established to meet the medical and long-term care needs of the increasing elderly population. In China, LTCI system is currently not a stand-alone insurance, but it is attached to the national basic medical insurance fund for urban employees (MIUE). As a result, the expenditure of LTCI is a part of the expenditure of the MIUE, which has an impact on the sustainability of the MIUE. By modeling the income and expenditure of MIUE, especially including the expenditure of LTCI, this study optimized an LTCI system with a higher individual out-of-pocket payment ratio of LTCI and implementation of the outpatient mutual-aid guarantee mechanism (OMAGM), which could improve the sustainability of the MIUE. The study also reveals the following: (i) solely increasing individual out-of-pocket payment ratio of LTCI to 20%–50% can only postpone the deficit on Social Pooling Accounts (SPAs) by 1 or 2 years, and the effect is very limited. (ii) Besides a higher individual out-of-pocket payment ratio, further implementation of a partial OMAGM from 2022 will postpone the deficit on SPAs by 7–9 years, and the implementation of a complete OMAGM from 2022 will postpone the deficit by 14–18 years. Accordingly, China should implement OMAGM as soon as possible to enhance the solvency of MIUE fund, and, in the long run, an independent LTCI scheme should be established to ensure the stability and sustainability of the LTCI fund and the MIUE fund.

Report on the Peter and Doris Koch Endowment Funds through 2021

In accordance with Peter Koch’s letter of Intent a joint FPS and SWST Committee was formed to oversee the management of the Peter and Doris Koch Endowment Funds in 2017. Peter Koch indicated that the purpose of the Oversight Committee is “to audit the previous year’s actions regarding the three endowment funds” and “rule annually on whether the terms of the letter of intent are being met.” On December 31, 2021, the value of the Koch Endowment was $1,396,706. On December 31, 2020 the value of the Koch Endowment was $1,208,747. The value on December 31, 2019 was $983,043. The rate of return for 2021 was an estimated 15.5%. The current value for the three Koch funds as of May 31, 2022 is $1,311,115. The joint oversight committee met on July 26, 2022 and agreed unanimously that the terms of the agreement are being met.Peter and Doris Koch provided 3 endowment funds which are being managed by the Forest Products Society using directions in Peter Koch’s letters dated April 23, 1996 (attached); July 21, 1997; August 31, 1997 and in the Will of Doris Koch dated November 7, 2017. Peter Koch directed that a joint FPS/ SWST oversight committee review the management of the investments annually after the passing of Doris Koch. Doris Koch passed away in 2017.As called for in Peter’s April 23, 1996 letter of intent (LOI) this report provides – 1) the full letter dated April 23, 1996, and for the three Koch funds, 2) a statement of 2020 transactions, and 3) a statement of the current and past years’ net asset values.The three Peter and Doris H. Koch Endowment funds areThe total value of the Koch Endowment on December 31, 2021 was $1,396,706 and on December 31, 2020 was $1,208,747. The estimated was return 15.5% for 2021.The 2021 return for the Basic, the Intermediate fund and the Centennial funds were 9.5%, 24%, and 15.8%, respectively.We compare fund returns to returns for two benchmark investments. For the Intermediate and Centennial funds that are entirely in stocks, we compare return to the Vanguard Total Stock Market Index. For 2019, the return for these two funds were less than the Index, 28.1% and 7.6% versus 30.8%. For 2020, the return for these two funds were less than the Index, 13.6% and -3.9% versus 21.0%. For 2021, the return for these two funds was less than the Index, 24% and 15.8% versus 25.6%For the Koch Basic fund which is a mix of stocks and bonds, we compared return to a portfolio of 3 Vanguard funds used to meet the IMC Charter guidelines for a conservative, income producing investment.Transactions are for January to December for the Vanguard accounts.This table below represents the gain YTDAccounts are directly managed by Raymond James (a.k.a, Erik Lawser).The Vanguard 500 Index is always held, and an analysis is done to identify 3 other mutual funds invested in small, medium and large capitalization companies, respectively. Peter Koch indicates that an analysis should be done every other year (we use the beginning of even numbered years) to determine the best stock mutual funds in the small, medium and large capitalization categories for the next two years (beginning in January of even numbered years) using data from Morningstar.com. Peter indicated screening factors in his letters dated April 23, 1996; July 21, 1997 and August 31, 1997.Vanguard 500 Index Fund; Jensen Quality Growth Fund; Touchstone Mid Cap Fund; Fidelity Advisor Small Cap Fund make up this fund in 2022 where we sold Parnassus Mid Cap Fund; Vanguard Dividend Growth Fund; and Vanguard Tax Managed Small Cap Fund as part of the rebalancing.The Centennial fund is to be invested at the beginning of each year in 4 of the 5 Small Dogs of the Dow - with the stock having the lowest per share price being excluded.The 4 Small Dogs of the Dow on December 31, 2021 were Walgreens, Dow, Verizon, Coca-Cola. Changes for 2022 (from 2021) included dropping Cisco and adding Walgreens.In accordance with Peter Koch’s direction in his letter dated April 23, 1996, p. 8, shown below, a notice will be placed in the Forest Products Journal after the July 2022 meeting of the Joint FPS/SWST Oversight Committee.1) Peter Koch’s letter of intent dated April 23, 1996

Socialist project by Thomas Piketty (On the book “Capital and ideology”)

The review examines the model of democratic socialism proposed by Thomas Piketty, which is based on the concept of domination of public and temporary property and is designed to ensure a fair redistribution of world wealth, reduce inequality and ensure broad participation of the middle and lower classes in the management of private firms and political processes. As the main instrument of redistribution, a progressive tax on wealth is proposed, which should be levied on the basis of data from the world register of assets and binding international agreements on a single tax and social policy. The funds received will be used to finance basic income, personal educational and capital funds, a system of electoral and charitable vouchers. Piketty claims that the main opponent of the idea of a progressive tax on wealth is the new proprietary ideology of modern hypercapitalism, which is based on the sacralization of private property, the opacity of international financial flows, and on the principle of meritocracy, which praises billionaires and justifies the trend of increasing inequality. Piketty’s controversial interpretation of inequality factors in modern Russia is also analyzed.