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86-613: It was founded in 1918 as the Boys Welfare Association later becoming the Industrial Society. In 2002 it was renamed the Work Foundation, shifting its business model away from being a training organisation towards being a research, consultancy and policy think tank under the leadership of former Observer Editor Will Hutton . Its reports on various aspects of the labour market are often cited by

172-490: A court of law with resulting legal orders intended to resolve the insolvency. Accounting insolvency happens when total liabilities exceed total assets (negative net worth ). The principal focus of modern insolvency legislation and business debt restructuring practices no longer rests on the liquidation and elimination of insolvent entities but on the remodeling of the financial and organizational structure of debtors experiencing financial distress so as to permit

258-500: A balance-sheet insolvency) become personally liable for the business's debts. Trading insolvently is often regarded as normal business practice in South Africa, as long as the business is able to fulfill its debt obligations when they fall due. Under Swiss law, insolvency or foreclosure may lead to the seizure and auctioning off of assets (generally in the case of private individuals) or to bankruptcy proceedings (generally in

344-408: A consequence he had gained first hand experience of appalling workplace conditions. As a result of this knowledge he sought to improve working conditions for the boys and young men employed in munitions plants. Hyde genuinely believed that benign employers and industrial harmony had the capacity to create as much wealth as harsh taskmasters and conflict. He also sought to 'provide proper facilities for

430-601: A court-appointed insolvency administrator, 'debtor-in-possession' proceedings are common since the legislative changes in 2012. For natural persons, the Verbraucherinsolvenzverfahren (literally "insolvency proceeding for individual consumers") allows discharge of all debts after three years, if certain conditions are met. In Hong Kong , insolvency is primarily governed by the Companies (Winding Up and Miscellaneous Provisions) Ordinance (Cap 32) and

516-614: A government, and some are associated with particular political parties, businesses, or the military. Think tanks are often funded by individual donations, with many also accepting government grants. Think tanks publish articles and studies, and sometimes draft legislation on particular matters of policy or society. This information is then used by governments, businesses, media organizations, social movements or other interest groups. Think tanks range from those associated with highly academic or scholarly activities to those that are overtly ideological and pushing for particular policies, with

602-521: A larger mosaic that concentrates all the EPA's enemies against it at one time." According to the progressive media watchdog Fairness & Accuracy in Reporting , both left-wing and right-wing policy institutes are often quoted and rarely identified as such. The result is that think tank "experts" are sometimes depicted as neutral sources without any ideological predispositions when, in fact, they represent

688-402: A liquidator of their own choice. This process is known as creditors voluntary liquidation (CVL), as opposed to members voluntary liquidation (MVL) which is for solvent companies. Alternatively, a creditor can petition the court for a winding-up order which, if granted, will place the company into what is called compulsory liquidation or winding up by the court. The liquidator realises the assets of

774-1147: A number of categories and presents its findings in the Global Go-To Think Tanks rating index. However, this method of the study and assessment of policy institutes has been criticized by researchers such as Enrique Mendizabal and Goran Buldioski, Director of the Think Tank Fund, assisted by the Open Society Institute . Think tanks may attempt to broadly inform the public by holding conferences to discuss issues which they may broadcast; encouraging scholars to give public lectures, testifying before committees of governmental bodies; publishing and widely distributing books, magazines, newsletters or journals; creating mailing lists to distribute new publications; and engaging in social media. Think tanks may privately influence policy by having their members accept bureaucratic positions, having members serve on political advisory boards, inviting policy-makers to events, allowing individuals to work at

860-511: A number of think tanks that are in the form of governmental, non-governmental, and corporate organizations. In China a number of think tanks are sponsored by governmental agencies such as Development Research Center of the State Council , but still retain sufficient non-official status to be able to propose and debate ideas more freely. In January 2012, the first non-official think tank in mainland China, South Non-Governmental Think-Tank,

946-722: A particular perspective. In the United States, think tank publications on education are subjected to expert review by the National Education Policy Center 's "Think Twice" think tank review project. A 2014 New York Times report asserted that foreign governments buy influence at many United States think tanks. According to the article: "More than a dozen prominent Washington research groups have received tens of millions of dollars from foreign governments in recent years while pushing United States government officials to adopt policies that often reflect

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1032-436: A penalty. Balance-sheet insolvency is when a person or company does not have enough assets to pay all of their debts. The person or company might enter bankruptcy , but not necessarily. Once a loss is accepted by all parties, negotiation is often able to resolve the situation without bankruptcy. A company that is balance-sheet insolvent may still have enough cash to pay its next bill on time. However, most laws will not let

1118-407: A pre-arranged sale of the company's business, often to its directors or owners. The process can be seen as controversial because the creditors do not have the opportunity to vote against the sale. The rationale behind the device is that the swift sale of the business may be necessary or of benefit to enable a best price to be achieved. If the sale was delayed, creditors would ultimately lose out because

1204-448: A preferable alternative to bankruptcy. Debt restructuring is a process that allows a private or public company - or a sovereign entity - facing cash flow problems and financial distress, to reduce and renegotiate its delinquent debts in order to improve or restore liquidity and rehabilitate so that it can continue its operations. Although the term "bankrupt" may be used referring to a government, sovereign states do not go bankrupt. This

1290-590: A range of economic and governance issues confronting Ghana and Sub-Saharan Africa . It has also been involved in bringing political parties together to engage in dialogue. In particular it has organised Presidential debates every election year since the Ghanaian presidential election, 1996 . Notable think tanks in Ghana include: Afghanistan has a number of think tanks that are in the form of governmental, non-governmental, and corporate organizations. Bangladesh has

1376-404: A result of Hutton's poor business strategy and leadership, and chairman/banker Peter Ellwood’s inadequate control and leadership of the board, much of the proceeds of the training division sale was unprofitably utilised and in 2010 the Work Foundation ceased to be financially viable. The society spent more in salaries than it received in income, and eventually a winding-up petition due to insolvency

1462-459: A series of rejuvenatory reforms. The failing financial circumstances of the society were addressed and new training programs and conferences were instituted. In 2000 a new management team was put in place with Will Hutton as CEO and David Pearson as chief operating officer. In 2001 Pearson led the sale of the Society's loss-making training division to Capita for over 23 million pounds, reviving

1548-415: A strong (but perhaps not absolute) connotation that the debtor is balance-sheet solvent, whereas the term "actually insolvent" does not. Cash-flow insolvency involves a lack of liquidity to pay debts as they fall due. Balance sheet insolvency involves having negative net assets —where liabilities exceed assets. Insolvency is not a synonym for bankruptcy , which is a determination of insolvency made by

1634-522: A successful rescue of a company's business via a sale, but not of the company itself. Since the introduction of the collective insolvency procedure of Administration in 1986, the legislators have decided to set a shelf life on the administrative receivership or, in Scotland, receivership procedure and it is no longer possible to appoint an administrative receiver or, in Scotland, receiver under security created after 15 September 2003. In individual cases

1720-512: A wide range among them in terms of the quality of their research. Later generations of think tanks have tended to be more ideologically oriented. Modern think tanks began as a phenomenon in the United Kingdom in the 19th and early 20th centuries, with most of the rest being established in other English-speaking countries. Prior to 1945, they tended to focus on the economic issues associated with industrialization and urbanization. During

1806-418: Is a synonym for balance sheet insolvency, which means that its liabilities are greater than its assets , and actual insolvency is a synonym for the first definition of insolvency ("Insolvency is the inability of a debtor to pay their debt."). While technical insolvency is a synonym for balance-sheet insolvency, cash-flow insolvency and actual insolvency are not synonyms. The term "cash-flow insolvent" carries

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1892-608: Is a global think tank that works on issues such as Water Diplomacy , Peace and Conflict and Foresight (futures studies) . Think tanks with a development focus include those like the National Centre for Cold-chain Development ('NCCD'), which serve to bring an inclusive policy change by supporting the Planning Commission and related government bodies with industry-specific inputs – in this case, set up at

1978-713: Is collaboration between policy institutes in different countries. For instance, the Carnegie Endowment for International Peace operates offices in Washington, D.C. , Beijing , Beirut , Brussels and formerly in Moscow , where it was closed in April 2022. The Think Tanks and Civil Societies Program (TTCSP) at the University of Pennsylvania , led by James McGann , annually rates policy institutes worldwide in

2064-477: Is defined both in terms of cash flow and in terms of balance sheet in the UK Insolvency Act 1986 , Section 123, which reads in part: 123.-(1) A company is deemed unable to pay its debts --- (a) if a creditor (by assignment or otherwise) to whom the company is indebted in a sum exceeding £750 then due has served on the company, by leaving it at the company's registered office, a written demand (in

2150-452: Is done in public think tanks. There is a strong emphasis on the knowledge-based economy and, according to one respondent, think tank research is generally considered high quality. Japan has over 100 think tanks, most of which cover not only policy research but also economy, technology and so on. Some are government related, but most of the think tanks are sponsored by the private sector. Institute of World Economics and Politics (IWEP) at

2236-420: Is insolvent may be put into liquidation (sometimes referred to as winding-up). The directors and shareholders can instigate the liquidation process without court involvement by a shareholder resolution and the appointment of a licensed Insolvency Practitioner as liquidator. However, the liquidation will not be effective legally without the convening of a meeting of creditors who have the opportunity to appoint

2322-699: Is primarily codified in the Insolvency Act, 2003 and the Insolvency Rules, 2005. In Canada , bankruptcy and insolvency are generally regulated by the Bankruptcy and Insolvency Act . An alternative regime is available to larger companies (or affiliated groups) under the Companies' Creditors Arrangements Act , where total debts exceed $ 5 million. In Germany , insolvency proceedings, both for companies and for natural persons, are regulated by

2408-411: Is so because bankruptcy is governed by national law; there exists no entity to take over such a government and distribute assets to creditors. Governments can be insolvent in terms of not having money to pay obligations when they are due. If a government does not meet an obligation, it is in " default ". As governments are sovereign entities, creditors who hold debt of the government cannot easily seize

2494-674: Is to maintain analytical and research support for the President of Kazakhstan. Most Malaysian think tanks are related either to the government or a political party. Historically they focused on defense, politics and policy. However, in recent years, think tanks that focus on international trade, economics, and social sciences have also been founded. Notable think tanks in Malaysia include: Pakistan's think tanks mainly revolve around social policy, internal politics, foreign security issues, and regional geo-politics. Most of these are centered on

2580-409: Is when a person or company has enough assets to pay what is owed, but does not have the appropriate form of payment. For example, a person may own a large house and a valuable car, but not have enough liquid assets to pay a debt when it falls due. Cash-flow insolvency can usually be resolved by negotiation . For example, the bill collector may wait until the car is sold and the debtor agrees to pay

2666-471: The Cold War , many more American and other Western think tanks were established, which often guided government Cold War policy. Since 1991, more think tanks have been established in non-Western parts of the world. More than half of all think tanks that exist today were established after 1980. As of 2023, there are more than 11,000 think tanks around the world. According to historian Jacob Soll , while

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2752-465: The Insolvency Act 1986 which aim to provide time for the rescue of a company or, at least, its business. These are Administration and Company Voluntary Arrangement : One particular type of Administration that is becoming more common is called pre pack administration (more information under administration (law) ). In this process, immediately after appointment the administrator completes

2838-680: The ordinary course of business , or cannot pay its debts as they become due, or is insolvent within the meaning of the Bankruptcy Code . This is important because certain rights under the code may be invoked against an insolvent party which are otherwise unavailable. The United States has established insolvency regimes which aim to protect the insolvent individual or company from the creditors, and balance their respective interests. For example, see Chapter 11, Title 11, United States Code . However, some state courts have begun to find individual corporate officers and directors liable for driving

2924-485: The 1950s, the phrase "think tank" did not refer to organizations. From its first appearances in the 1890s up to the 1950s, the phrase was most commonly used in American English to colloquially refer to the braincase or especially in a pejorative context to the human brain itself when commenting on an individual's failings (in the sense that something was wrong with that person's "think tank"). Around 1958,

3010-421: The 1980s as a result of globalization, the end of the Cold War , and the emergence of transnational problems. Two-thirds of all the think tanks that exist today were established after 1970 and more than half were established since 1980. The effect of globalisation on the proliferation of think tanks is most evident in regions such as Africa, Eastern Europe, Central Asia, and parts of Southeast Asia, where there

3096-526: The 20th century, such institutes were found primarily in the United States, along with much smaller numbers in Canada, the United Kingdom, and Western Europe. Although think tanks had also existed in Japan for some time, they generally lacked independence, having close associations with government ministries or corporations. There has been a veritable proliferation of "think tanks" around the world that began during

3182-706: The Bankruptcy Act (Cap B.15) or the Companies Act (Cap C.65). In Australia , corporate insolvency is governed by the Corporations Act 2001 (Cth). Companies can be put into Voluntary Administration , Creditors Voluntary Liquidation, and Court Liquidation. Secured creditors with registered charges are able to appoint Receivers and Receivers & Managers depending on their charge. In the British Virgin Islands , insolvency law

3268-770: The Companies (Winding Up) Rules (Cap 32H). In India , bankruptcy and insolvency are generally regulated by the Insolvency and Bankruptcy Code 2016. The Insolvency and Bankruptcy Board of India (IBBI) is the regulator for overseeing insolvency proceedings and entities like Insolvency Professional Agencies (IPA), Insolvency Professionals (IP) and Information Utilities (IU) in India . Insolvent citizens may not contest/be appointed for any public office, nor may they participate in govt exams. They are also not allowed to emigrate out. Iranian government Tax, finance and bankruptcy administration handles corporations . First insolvency law

3354-636: The Foundation of the First President of the Republic of Kazakhstan was created in 2003. IWEP activities aimed at research problems of the world economy, international relations, geopolitics, security, integration and Eurasia, as well as the study of the First President of the Republic of Kazakhstan and its contribution to the establishment and strengthening of Kazakhstan as an independent state,

3440-421: The Insolvency Act (Insolvenzordnung), in effect since 1999 but with significant changes in 2012. The goal of insolvency law is the equal and best satisfaction of creditors. If the interests of creditors are respected, insolvent companies are offered different ways to restructure their businesses, for example by implementing an 'insolvency plan' ( Insolvenzplan ) . While regular insolvency proceedings are led by

3526-595: The Philippines could be generally categorized in terms of their linkages with the national government. Several were set up by the Philippine government for the specific purpose of providing research input into the policy-making process. Sri Lanka has a number of think tanks that are in the form of governmental, non-governmental and corporate organizations. There are several think tanks in Singapore that advise

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3612-650: The Reverend Robert Hyde founded what was initially called the Boys’ Welfare Association . Prior to this he had worked with the poor of Hoxton , London - a deprived, slum area. As part of his work he has managed boys' clubs in London's East End. He joined the Ministry of Munitions during the first world war working as a civil servant dealing with the social conditions of the munitions workers. As

3698-538: The actions of think tanks and potentially bypass the political process, analysing the social background and values of those who work in think tanks. Pautz criticizes this viewpoint because there is in practice a variety of viewpoints in think tanks and argues it dismisses the influence that ideas can have. In some cases, corporate interests, military interests and political groups have found it useful to create policy institutes, advocacy organizations, and think tanks. For example, The Advancement of Sound Science Coalition

3784-577: The ailing balance sheet and saving the pension fund. The Industrial Society was in turn renamed the Work Foundation in 2002, focusing on consultancy and advocacy. Pearson retired in February 2003, confident that the future of the charity, with its strong balance sheet, was secured, based on a re-adjustment between the number of employees and their income generating potential, which subsequently did not occur. In 2008 Stephen Bevan replaced Hutton as managing director, with Hutton becoming executive vice-chair. As

3870-505: The assets of the government to re-pay the debt (though " Vulture funds " often find ways to do so). The recourse for the creditor is to request to be repaid at least some of what is owed. However, in most cases, debt in default is refinanced by further borrowing or monetized by issuing more currency (which typically results in inflation or hyperinflation ). Insolvency regimes around the world have evolved in very different ways, with laws focusing on different strategies for dealing with

3956-504: The bankruptcy estate is dealt by an official receiver, appointed by the court. In some cases the file is transferred to RTLU (OR Regional Trustee Liquidator Unit) that will assess your assets and income to see if you can contribute towards paying costs of bankruptcy or even discharge part of your debts. Under the Uniform Commercial Code , a person is considered to be insolvent when the party has ceased to pay its debts in

4042-458: The behest of the government to direct cold chain development. Some think tanks have a fixed set of focus areas and they work towards finding out policy solutions to social problems in the respective areas. Initiatives such as National e-Governance Plan (to automate administrative processes) and National Knowledge Network (NKN) (for data and resource sharing amongst education and research institutions), if implemented properly, should help improve

4128-547: The business may continue under a declared protective arrangement while alternative options to achieve recovery are worked out. Increasingly, legislatures have favored alternatives to winding up companies for good. It can be, in several jurisdictions, grounds for a civil action or even an offence to continue to pay some creditors in preference to other creditors once a state of insolvency is reached. Debt restructurings are typically handled by professional insolvency and restructuring practitioners, and are usually less expensive and

4214-773: The capital, Islamabad . One such think tank is the Sustainable Development Policy Institute (SDPI), which focuses on policy advocacy and research particularly in the area of environment and social development. Another policy research institute based in Islamabad is the Institute of Social and Policy Sciences (I-SAPS) which works in the fields of education, health, disaster risk reduction, governance , conflict and stabilization. Since 2007 - 2008, I-SAPS has been analyzing public expenditure of federal and provincial governments. Think tanks in

4300-500: The case of registered commercial entities). Turkish insolvency law is regulated by Enforcement and Bankruptcy Law (Code No: 2004, Original Name: İcra ve İflas Kanunu). The main concept of the insolvency law is very similar to Swiss and German insolvency laws. Enforcement methods are realizing pledged property, seizure of assets and bankruptcy. In the United Kingdom , the term bankruptcy is reserved for individuals. Insolvency

4386-575: The church spans from Charlemagne all the way to the 17th century, when the kings of France were still arguing about whether they had the right to appoint bishops and receive a cut of their income." Soll cites as an early example the Académie des frères Dupuy , created in Paris around 1620 by the brothers Pierre and Jacques Dupuy and also known after 1635 as the cabinet des frères Dupuy . The Club de l'Entresol , active in Paris between 1723 and 1731,

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4472-420: The company and distributes funds realised to creditors according to their priorities, after the deduction of costs. In the case of Sole Trader Insolvency , the insolvency options include Individual Voluntary Arrangements and Bankruptcy . It can be a civil and even a criminal offence for directors to allow a company to continue to trade whilst insolvent. However, two new insolvency procedures were introduced by

4558-439: The company pay that bill unless it will directly help all their creditors. For example, an insolvent farmer may be allowed to hire people to help harvest the crop, because not harvesting and selling the crop would be even worse for his creditors. It has been suggested that the speaker or writer should either say technical insolvency or actual insolvency in order to always be clear – where technical insolvency

4644-645: The construction of a discourse coalition with a common aim, citing the example of deregulation of trucking, airlines, and telecommunications in the 1970s. Plejwe argues that this deregulation represented a discourse coalition between the Ford Motor Company , FedEx , neo-liberal economists, the Brookings Institution and the American Enterprise Institute . Elite theory considers how an "elite" influence

4730-584: The development of international cooperation and the promotion of peace and stability. The Kazakhstan Institute for Strategic Studies under the President of the RK (KazISS) was established by the Decree of the President of RK on 16 June 1993. Since its foundation the main mission of the Kazakhstan Institute for Strategic Studies under the President of the Republic of Kazakhstan, as a national think tank,

4816-625: The donors' priorities." Ghana's first president, Kwame Nkrumah , set up various state-supported think tanks in the 1960s. By the 1990s, a variety of policy research centers sprang up in Africa set up by academics who sought to influence public policy in Ghana. One such think tank was The Institute of Economic Affairs, Ghana , which was founded in 1989 when the country was ruled by the Provisional National Defence Council . The IEA undertakes and publishes research on

4902-437: The experts they fund for future government jobs, while others want to push specific areas of research or education." McGann distinguishes think tanks based on independence, source of funding and affiliation, grouping think tanks into autonomous and independent, quasi-independent, government affiliated, quasi-governmental, university affiliated, political-party affiliated or corporate. A new trend, resulting from globalization,

4988-572: The findings of its Good Work Commission. Current research priorities include work on youth unemployment and labour market disadvantage, workforce health and wellbeing, flexible working and local economic development. Think tank A think tank , or public policy institute, is a research institute that performs research and advocacy concerning topics such as social policy , political strategy , economics , military , technology , and culture . Most think tanks are non-governmental organizations , but some are semi-autonomous agencies within

5074-784: The first organization to be regularly described in published writings as "the Think Tank" (note the title case and the use of the definite article ) was the Center for Advanced Study in the Behavioral Sciences . However, the Center does not count itself as and is not perceived to be a think tank in the contemporary sense. During the 1960s, the phrase "think tank" was attached more broadly to meetings of experts, electronic computers , and independent military planning organizations. The prototype and most prominent example of

5160-495: The fostering of good human relations in industry. In 1962 John Garnett became Director and in 1965 the name was shortened to " The Industrial Society ". John Garnett was Director until 1986, and under his leadership the Society obtained an increasingly high-profile. It was briefly in charge of the " I'm Backing Britain " campaign in 1968. On John Garnett's retirement, Alistair Graham became Chief Executive, followed in 1991 by Rhiannon Chapman and in 1994 by Tony Morgan who oversaw

5246-486: The government on various policies and as well as private ones for corporations within the region. Many of them are hosted within the local public educational institutions. Insolvency In accounting , insolvency is the state of being unable to pay the debts , by a person or company ( debtor ), at maturity ; those in a state of insolvency are said to be insolvent . There are two forms: cash-flow insolvency and balance-sheet insolvency. Cash-flow insolvency

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5332-402: The insolvent. The outcome of an insolvent restructuring can be very different depending on the laws of the state in which the insolvency proceeding is run, and in many cases different stakeholders in a company may hold the advantage in different jurisdictions . In Anguilla , the insolvency of individuals is regulated under the Bankruptcy Act (Cap B.15) and corporate insolvency is governed by

5418-670: The maximum enjoyment of the Workers' free time'. In 1919 the Boys' Welfare Association changed its name to the Industrial Welfare Society ; this signified an extension of its activities. Much of the Society’s work in the 1920s and 1930s involved the struggle for what is now considered very basic, such as employer-provided lunchrooms and restrooms. It was greatly helped by the willingness of Prince Albert to be President. He

5504-583: The media. Ian Brinkley has replaced Stephen Bevan in the new position of director. In 2008 Stephen Bevan replaced Hutton as managing director, with Hutton becoming executive vice-chair. The Work Foundation was acquired in October 2010 by Lancaster University following a winding up petition in the High Court . Hutton was criticised for his handling of the Foundation by a number of publications including The Sunday Times and Private Eye . On 3 April 1918

5590-532: The more established think tanks, created during the Cold War , are focused on international affairs, security studies, and foreign policy. Think tanks vary by ideological perspectives, sources of funding, topical emphasis and prospective consumers. Funding may also represent who or what the institution wants to influence; in the United States, for example, "Some donors want to influence votes in Congress or shape public opinion, others want to position themselves or

5676-500: The organization's Patron. The Industrial Society was granted a Royal Charter in 1984. Robert Hyde continued as head of the Society until his retirement in 1948. Prince Philip, Duke of Edinburgh became the Patron of the Industrial Society in 1952. Robert Hyde's replacement was John Marsh, who remained as Director until 1962. Under Marsh's direction the Society turned more positively from the provision of good physical working conditions to

5762-484: The prescribed form) requiring the company to pay the sum so due and the company has for 3 weeks thereafter neglected to pay the sum or to secure or compound for it to the reasonable satisfaction of the creditor,... (2) A company is also deemed unable to pay its debts if it is proved to the satisfaction of the court that the value of the company's assets is less than the amount of its liabilities, taking into account its contingent and prospective liabilities... A company which

5848-493: The price obtainable for the assets would be reduced. In addition to the above-mentioned corporate insolvency procedures, a creditor holding security over an asset of the company may have the power to appoint an insolvency practitioner as administrative receiver or, in Scotland , receiver. The process, latterly known as administrative receivership or, in Scotland, receivership, has existed for many years and has often resulted in

5934-761: The quality of work done by think tanks. Some notable think tanks in India include: Over 50 think tanks have emerged in Iraq, particularly in the Kurdistan Region. Iraq's leading think tank is the Middle East Research Institute (MERI), based in Erbil. MERI is an independent non-governmental policy research organization, established in 2014 and publishes in English, Kurdish, and Arabic. It

6020-577: The questions of the federal government." In the early 1920s, fascist and other far-right think tanks appeared in the Netherlands . After 1945, the number of policy institutes increased, with many small new ones forming to express various issues and policy agendas. Until the 1940s, most think tanks were known only by the name of the institution. During the Second World War, think tanks were often referred to as "brain boxes". Before

6106-451: The rehabilitation and continuation of their business. This is known as business turnaround or business recovery . Implementing a business turnaround may take many forms, including keep and restructure, sale as a going concern, or wind-down and exit. In some jurisdictions, it is an offence under the insolvency laws for a corporation to continue in business while insolvent. In others (like the United States with its Chapter 11 provisions),

6192-536: The term "think tank" is modern, with its origin "traced to the humanist academies and scholarly networks of the 16th and 17th centuries," Soll writes that, "in Europe, the origins of think tanks go back to the 800s when emperors and kings began arguing with the Catholic Church about taxes. A tradition of hiring teams of independent lawyers to advise monarchs about their financial and political prerogatives against

6278-511: The think tank; employing former policy-makers; or preparing studies for policy makers. The role of think tanks has been conceptualized through the lens of social theory. Plehwe argues that think tanks function knowledge actors within a network of relationships with other knowledge actors. Such relationships including citing academics in publications or employing them on advisory boards, as well as relationships with media, political groups and corporate funders. They argue that these links allow for

6364-483: The third category was the RAND Corporation , which was founded in 1946 as an offshoot of Douglas Aircraft and became an independent corporation in 1948. In the 1970s, the phrase became more specifically defined in terms of RAND and others. During the 1980s and 1990s, the phrase evolved again to arrive at its broader contemporary meaning of an independent public policy research institute. For most of

6450-638: The transfer of sovereignty to China in 1997, more think tanks were established by various groups of intellectuals and professionals. They have various missions and objectives including promoting civic education; undertaking research on economic, social and political policies; and promoting "public understanding of and participation in the political, economic, and social development of the Hong Kong Special Administrative Region ". Think tanks in Hong Kong include: India has

6536-495: The university's business school and the Work Foundation, which would continue to operate from its headquarters in Palmer Street , Westminster . The Work Foundation is focused on promoting the concept of "Good Work" - the notion that good quality jobs lead to higher productivity, improved quality of working life , improved employee engagement and better workplace health and well-being. In 2011 The Work Foundation published

6622-547: The world's second-largest number of think tanks . Most are based in New Delhi, and a few are government-sponsored. There are few think tanks that promote environmentally responsible and climate resilient ideas like Centre for Science and Environment , Centre for Policy Research and World Resources Institute . There are other prominent think tanks like Observer Research Foundation , Tillotoma Foundation and Centre for Civil Society . In Mumbai, Strategic Foresight Group

6708-547: Was a concerted effort by other countries to assist in the creation of independent public policy research organizations. A survey performed by the Foreign Policy Research Institute's Think Tanks and Civil Societies Program underscores the significance of this effort and documents the fact that most of the think tanks in these regions have been established since 1992. As of 2014 , there were more than 11,000 of these institutions worldwide. Many of

6794-487: Was adopted 1935. Those who claim inability are temporary exempt from debt payment. In Ireland , insolvency is governed by the Companies Act 2014 . In Russia, insolvency law is governed by Federal Law No. 127-FZ "On Insolvency (Bankruptcy)" and Federal Law No. 40-FZ "On Insolvency (Bankruptcy) of Credit Institutions". In South Africa , owners of businesses that had at any stage traded insolvently (i.e. that had

6880-542: Was another prominent example of an early independent think tank focusing on public policy and current affairs, especially economics and foreign affairs. Several major current think tanks were founded in the 19th century. The Royal United Services Institute was founded in 1831 in London , and the Fabian Society in 1884. The oldest United States –based think tank, the Carnegie Endowment for International Peace ,

6966-626: Was established in the Guangdong province. In 2009 the China Center for International Economic Exchanges was founded. In Hong Kong, early think tanks established in the late 1980s and early 1990s focused on political development, including the first direct Legislative Council members election in 1991 and the political framework of " One Country, Two Systems ", manifested in the Sino-British Joint Declaration . After

7052-467: Was filed in the High Court, citing a pension deficit. On 21 October 2010 the Work Foundation was acquired by Lancaster University for an undisclosed sum. At the time of the purchase the pension fund which had about 600 members, including a number of the 43 current employees, had a funding deficit of £27m. It was indicated that the two institutions would build on a record of previous collaboration between

7138-578: Was formed in the mid-1990s to dispute research finding an association between second-hand smoke and cancer . Military contractors may spend a portion of their tender on funding pro-war think tanks. According to an internal memorandum from Philip Morris Companies referring to the United States Environmental Protection Agency (EPA), "The credibility of the EPA is defeatable, but not on the basis of ETS [ environmental tobacco smoke ] alone,... It must be part of

7224-412: Was founded in Washington, D.C. , in 1910 by philanthropist Andrew Carnegie . Carnegie charged trustees to use the fund to "hasten the abolition of international war, the foulest blot upon our civilization." The Brookings Institution was founded shortly thereafter in 1916 by Robert S. Brookings and was conceived as a bipartisan "research center modeled on academic institutions and focused on addressing

7310-631: Was listed in the global ranking by the United States's Lauder Institute of the University of Pennsylvania as 46th in the Middle East. There are many think tank teams in Israel, including: In South Korea , think tanks are prolific and influential and are a government go-to. Think tanks are prolific in the Korean landscape. Many policy research organisations in Korea focus on economoy and most research

7396-498: Was very willing to involve himself through his own personal participation. He visited between 120 and 150 workplaces around the country between 1920 and 1935. He organized and partially attended the Duke of York Boys’ Camps - camps set up for both working class and public school boys. In addition he attended or sent a letter to every annual meeting of the society until his accession to the throne as George VI in 1936, at which point he became

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