Wolfgang Chr. Fischer Libri

In line with the general acceptance by economists and politicians of globalisation and the veneration of free market forces, the retail sector in Australia and in most other OECD countries has seen a tremendous concentration of vendors. In spite of this, the aim of this research monograph is to investigate the emergence of weekend, night and street markets. Generally these are an „unexplored territory“ of economics, and often these markets have been regarded as a quantité négligeable. Giving some thoughts on tax justice, analysing the economic survival of small business in the retail sector, studying the determinants of the traders operations including taxation within a fairly cash economy, the limitations of regulations and of the determinants of consumers’ perceptions, one question among others arise whether the Government should support weekend, night & street markets directly through subsidies and through taxation privileges, or should the Government intervene by strict regulations. Examples of these markets were given from Australia, Germany, New Zealand and North America. There are some serious doubts whether the traditional consumer research through questionnaires might deliver reliable results. Nonetheless to gain some reasonable data had been a key issue for this research project. The consumer survey was administered to a regional sample of 1,000 people living in the Townsville area, North Queensland, Australia. Overall, weekend, night and street markets are mostly enhanced in their attractiveness to consumers by providing a social atmosphere, a cultural flair in the sense of a „bazaar“ and hence an opportunity for consumers to enjoy a „market flair“. This is opposed to the monotonous shopping atmosphere of supermarkets and in shopping centres with the dominance of self-service.

This research explores the significance of private household production, often overlooked in Economics literature. It argues that the development of private household production is influenced more by social and economic orders than by the level of economic division of labor. The study examines factors that can help maintain a household's buffer function during economic downturns. When households lose the ability to be self-sufficient in essential production areas—such as nutrition, storage, cleaning, and personal care—they become increasingly dependent on the market. This reliance necessitates that household members earn income to sustain a reasonable living, linking them directly to the national economy's performance. Consequently, issues like cash economy and inflation pose significant challenges for many households. The integration of national economies into the global market further heightens this dependency on international markets. A key future challenge will be how private household production adapts within Western societies characterized by free market principles, despite various market modifications. This raises questions about the potential realization of Aldous Huxley’s visions in "Brave New World."

The traditional view positions the German Hyperinflation as a precursor to Hitler’s Nazi Regime, yet there is a lack of legal and economic literature addressing the rapid escalation of inflation from July to November 1923. This research challenges the notion that the hyperinflation was solely caused by insufficient taxation, excessive war bonds from WWI, post-war reparations, or social and political unrest. The end of the hyperinflation was achieved through legal measures, including rulings from the German Supreme Court and parliamentary decisions on the conversion rate from Mark to Reichsmark, based on valorism rather than nominalism. While this approach was not entirely equitable, it was deemed the best solution given the socio-economic context. Additionally, monetary actions by the German Reserve Bank, such as the introduction of the Rentenmark—a new currency backed by state land—helped restore trust and could serve as a model for addressing hyperinflation in both developed and developing nations. However, the swift acceleration of hyperinflation remains enigmatic and unpredictable. The research suggests that understanding the transformation from inflation to hyperinflation is a complex phenomenon, warranting further exploration within complexity economics and related fields like mass hysteria and social dynamics.

In the 1970s, globalization emerged as a dominant concept, with human activities viewed primarily through an economic lens, suggesting that free markets would self-regulate. Today, consumers and retailers increasingly question, “What is actually still made in Australia?” This monograph explores two key aspects of the "Made in Australia" concept: first, from an Economic Policy perspective aimed at enhancing citizen well-being, and second, from a legal standpoint regarding the regulation of the term itself. Various authors contribute insights into the "Country of Origin" issue, discussing national buying campaigns, the history of Australian international trade, judicial interpretations of the term, and WTO regulations. Additionally, the work examines whether Australia should maintain a safety net for essential products and services produced domestically, especially in times of economic crisis. This policy debate is crucial for a large country like Australia, which, despite its relatively small population of around 20 million, faces challenges in preserving essential manufacturing and service industries. The concern is that Australia risks becoming merely a "quarry," reliant on limited sectors like farming and tourism as manufacturing shifts overseas.

This Research Monograph about the re-emergence of street markets and their contribution to invigorate local economies aims to contribute to the knowledge and understanding of the emergence of street markets. Generally these are an unexplored territory of economics and often these street markets have been regarded in the literature and the official statistics as a quantité négligeable. It is the third research monograph in a series about street markets in all their variations. The series started with „Consumers’ Attitudes towards Weekend, Night & Street Markets“, Josef Eul Verlag, Köln, Germany, November 2002, and then „Street Markets – Small Business & Farmers’ Perceptions in Australia & New Zealand“, Josef Eul Verlag, Köln, Germany, August 2004. This research monograph focuses more on new developments and filling some gaps, which the two previous monographs did not address.

This study is an investigation of alternate markets from the viewpoint of traders and follows the previously published „Consumers’ Attitudes towards Weekend, Night & Street Markets“, Josef Eul Verlag, Köln – Lohmar 2002. The study examines the current responses of small producers and retailers to a culmination of reactions to changes over the late 20th and early 21st Century to the post war emergence of agglomeration of retailing and standardisation of products. The international trend of globalisation has been matched domestically with the rise of the mega store concept of retailing. Large supermarkets as well as warehouses have their selling policies based on „anytime, everywhere, everything the same“, which means their procurement policies are centrally driven; they demand bulk orders from specific price competitive producers and farmers nor do these retail giants acknowledge local peculiarities. This has been detrimental for small producers and retailers, as well as the discerning consumer. It has forced small local traders and producers to search for other methods of distribution. A re-emergence of traditional alternate retailing solutions is seen as the market forces’ response to these phenomena. Future trends are analysed through empirical studies of street and farmers’ markets in Australia and New Zealand along with giving some thoughts on theories that can explain this phenomenon.