bluuebunny/crossref_metadata_2025 huggingface dataset:
Economic History in the United States: Formative Years of a Discipline
Authors: Cole Arthur H.
Published: August 2016

The American people have usually been regarded as forward-looking and progressive, willing frequently to move their activities from one place to another to attain their hopes and inclined to be impatient with the heritage of the past. But there seems to have been, almost from the beginning, a minority of people in this country who found pleasure in looking back over the road that they and their forebears had traveled and in encouraging a scholarly chronicling of such progress. Perhaps the fact that so many early immigrants came from western Europe, with its much longer high-ways of economic and cultural advance, had something to do with this. But there was also the circumstance that the early settlers in America, as well as many later migrants to our West, were a Bible-reading people. The Bible is, after all, a record of movements among peoples through the centuries, and the duty placed on members of Protestant churches to become thoroughly familiar with their source of divine guidance could well have implanted a bias toward, or a fondness for, historical ideas and writings. And the citizens of a new country, it may be suggested, could hardly fail to be conscious of change through time as a true fact of life.
The Canadian-American Reciprocity Treaty of 1855 to 1866
Authors: Officer Lawrence H. , Smith Lawrence B.
Published: August 2016

The Reciprocity Treaty between the British North American Provinces (Canada) and the United States was ratified in February 1855 and terminated in March 1866. It provided for free trade in all natural products, free access for United States fisheries to the Atlantic coastal waters of British North America, and access to the St. Lawrence River for American vessels under the same tolls as native vessels.
The Economic History of India: A Bibliographic Essay
Authors: Morris Morris David , Stein Burton
Published: August 2016

In october 1959 a small group of scholars met under the auspices of the University of Chicago's Research Center in Economic Development and Cultural Change to discuss problems of research in Asian economic history. Papers prepared by two participants explored work already done in Indian economic history. It was felt that these two papers might be useful to others, those concerned with Indian economic history and those interested in comparative analysis.
Economic Sources of Inventive Activity
Authors: Schmookler Jacob
Published: August 2016

The fundamental conclusion of this paper is that technological progress is intimately dependent on economic phenomena. The evidence suggests that society may indeed affect the allocation of inventive resources through the market mechanism somewhat as it affects the allocation of economic resources generally. If this is true, then technological progress is not an independent cause of socio-economic change, and an interpretation of history as largely the attempt of mankind to catch up to new technology is a distorted one. Cultural lags undoubtedly exist in social history. The automobile—to use an obvious example—rendered obsolete many pre-existing social arrangements and behavior patterns. But the reverse is also true. New goods and new techniques are unlikely to appear, and to enter the life of society without a pre-existing,—albeit possibly only latent—demand. Even a longstanding demand may have been intensified shortly before a technique to satisfy it is invented. In addition to cultural lag, there exists technological lag—a chronic tendency of technology to lag behind demand.
Authors: Meier P. J.
Published: August 2016

Although Germans have made major contributions to the study of historical economics and the discipline of economic history, the pioneer work on the enterprise, that lies beneath them all, has been done by Americans. Such continental newcomers to the field as the journals Histoire des Entreprises or Tradition, and the Hamburg Research Center in Entrepreneurial History (Wirtschaftsgeschichtliche Forschungsstelle e. V.) are only now catching up with an important set of data which have been ignorantly neglected. Their approach to economic history, mainly through entrepreneurial history, has the great strengdi of forcing a reconciliation between actual entrepreneurial behavior and the implications of rigorous historical analysis. But it also has evident limitations. The problem of social and economic placement of entrepreneurs, seeking to determine the general effect of their policies, hinges upon quantitative generalization that cannot be derived from particular histories of enterprises remaining within the framework of the firm. One of the major aims of this paper is to show the Hamburg Research Center's recognition that an increasing part of the interest in the history of the enterprise should focus on broader questions that transcend the limits of monographs on firms, questions diat relate business development to economic change.
A Chapter in the Financial Revolution of the Nineteenth Century: The Rise of French Deposit Banking
Authors: Landes David S.
Published: August 2016

The terminal dates of this study are the year of the foundation of the Crédit Lyonnais and the year of the transfer of the management from Lyons to Paris. Until 1882, the siège social remained in the south, though from the late 1860's on, the initiative in the larger financial operations lay with the “succursale” in the capital. To satisfy the requirements of what Bouvier calls a two-headed direction, an extensive, daily correspondence was indispensable. The result is one of the richest banking archives ever opened to an inquiring researcher. It is not only their abundance that makes these records of the Crédit Lyonnais so valuable; it is their quality, the subjects they treat, the insights they give into the problems and minds of the directors of the bank. These papers deal with matters that today would be confined to conversation—directly or over that bane of the future researcher, the telephone; they concern not only decisions, but the reasons for decisions and the debates that lay behind them. Even if such thoughts were consigned to paper today, the records would in all likelihood end by being removed from the premises as the personal property of their authors. Given the catholicity of interests of the Credit Lyonnais—its activity in the regional and national economy, its innovations in French banking practice, its wide excursions into the field of international finance—its archives are a broad gateway into the economic history of the late nineteenth century.
The Association's Membership: Growth and Distribution
Authors: Aitken Hugh G. J.
Published: August 2016

This note presents some statistical evidence on the growth and geographic distribution of membership in the Economic History Association. The interpretation suggests that, despite a reasonable growth of membership on a national basis, particular areas of the country are under-represented in the Association, relative to the probable extent of their interest in economic history. An attempt is made to identify the areas of under-representation and thereby to provide some guidance for missionary work.
The New England Textile Mills and the Capital Markets: A Study of Industrial Borrowing 1840–1860
Authors: Davis Lance E.
Published: August 2016

Study of ante-bellum economic development of the United States has been hampered by an acute shortage of reliable statistical data. Studies of the early capital markets are no exception to this general rule. For the years after 1856, Frederick Macaulay's excellent study provides sufficient quantitative basis for general research; but, in the earlier years, only Bigelow's single unsupported interest series provides the economic historian with statistical information on the condition of the credit market.
Autocracy and the Factory Order In Early Russian Industrialization
Authors: Rimlinger Gaston V.
Published: August 2016

The Tsarist government played an important and fateful role in the development of the relationship between workers and employers in the early stages of Russian industrialization. Although the general character of this role is well known to historians, further study and reexamination of Tsarist labor policy, in the light of the contemporary concern with economic development, is invited by the Soviet publication in recent years of documentary evidence on nineteenth century labor problems. An attempt will be made in this article to integrate some of the new evidence with data from earlier sources in an analysis of the methods used by the Tsarist government to cope with the problem posed by internal government of industry in an era of growing labor unrest. It will focus on the period between the Emancipation and the 1905 Revolution. Russia did not become an industrial state during this period, but industry made enough progress to bring the country face to face with the modern labor problem. It was a period in which social and economic relations, rooted in feudal traditions, began to undergo significant changes in response to industrial growth. Labor unrest and protest are one of the chief symptoms of the problems inherent in this socio-economic readjustment. To understand the Tsarist approach to these problems it will be necessary to begin with a brief outline of the social milieu of Russian industrialization and of the governmental attitude toward industrial discipline and unrest before the Emancipation. The second section of the article covers the period between the Emancipation and the mideighties, during which the government did not formally regulate the internal order of the factory but was not unconcerned with the relations between employers and workers. The third section covers the period after 1886, when the internal factory order was subject to formal regulation and official inspection.
The Origins of the United Automobile Workers, 1933-1935
Authors: Fine Sidney
Published: August 2016

On August 26, 1935, delegates from sixty-five American Federationof Labor locals in the automobile industry gathered in Detroit to launch the International Union, United Automobile Workers of America. Although many of the delegates thought that the A.F. of L. had unnecessarily delayed the convocation of this convention, they were no doubt mindful of the fact that an international was being formed in an industry where only a little more than two years previously unionism had been conspicuous primarily because of its absence.
Wholesale and Retail Prices in the Nineteenth Century
Authors: Hoover Ethel D.
Published: August 2016

Today's best-known price indexes for Wholesale Price and Consumer Price Indexesthe Unitedof theStates are the Bureau of Labor Statistics, and the Indexes of Prices Received and Paid by Farmers, issued by the Department of Agriculture. These indexes, however, are comparatively new. The “Wholesale Price Index” dates from 1902 with indexes covering the years 1890-1901. The “Consumer Price Index” is of even more recent origin. Retail food price indexes were established on a regular basis in 1901, again with data back to 1890. Other goods and services were not added until after World War I, with estimates back to 1913 based on special studies in shipbuilding cities. The “Index of Prices Received by Farmers” was issued by the Department of Agriculture in 1924 and “Prices Paid by Farmers” in 1928. Botfi of these series were extended back to 1910.
Economic Consequences of Organized Violence
Authors: Lane Frederic C.
Published: August 2016

In The writing of economic history at present there is a tendency tofocus attention on the quantity of material goods and of people. This is not because economists seriously maintain that the chief end of man is to produce a maximum population, each member of which has at his disposal a maximum amount of material things. I do not think many economists or economic historians hold such a materialistic belief-why then would they choose to be professors ? We merely write as if we did, or at least we too often write so that we can be thus misinterpreted; and we are the more likely to be thus misinterpreted because the great political powers of the present, the United States and the Soviet Union, using different ideologies, each extols, paradoxically, its material productivity as proof of the force and validity of its ideals.
The Role of Staple Industries in Canada's Economic Development
Authors: Buckley Kenneth
Published: August 2016

Applications of the staple approach by the late Harold Innis d by others influenced by Innis have produced many studies which, taken together, provide a remarkably coherent, plausible, and apparently consistent account of Canada's economic growth and history. In this paper I distinguish between the staple theory as a theory of economic development and as an economic interpretation of history and argue that the staple theory of Canada's economic development breaks down after 1820. In the conclusion I suggest an alternative, complementary approach to the study of the country's economic growth.
Economic History and the New Business History
Authors: Krooss Herman E.
Published: August 2016

During the last twenty years Business History has become one of Economic History's most important subdivisions. This has been partly, but certainly not altogether, the result of prosperity. With highlevel employment and income the general attitude toward the businessman has changed. He is no longer popularly regarded as the personification of viliainy. In the “new Business History” he has fared very well indeed. He has not been restored to a place among the saints, but he certainly is back among the choir boys. There are two points of view on this whole development. One is to condemn the new Business History as a sinister plot on the part of Big Business to bamboozle the American public. The other is to regard the new Business History as the most promising of the three major developments that have taken place in Economic History during the last thirty years.
British Foreign Capital Issues, 1865–1894
Authors: Segal Harvey H. , Simon Matthew
Published: August 2016

In the half-century before 1914 international capital movements Played a significant role in the development of the world economy. This paper—which is a prelude to a more comprehensive study—focuses upon the British experience. We will first present new annual series on British foreign capital issues for the period 1865–1894. Our analysis of their behavior is centered about the following questions. First, how did the volume of British foreign investment fluctuate during the latter part of the nineteenth century? Were there long swings in these capital movements? Second, how did the geographic distribution of British foreign investment change over time? Was there an increasing tendency to invest within the British Empire? How was the total volume of investment apportioned between the tropics and the temperate regions of recent settlement? Third, how was British foreign investment allocated among economic sectors? Did the industrial composition vary significantly among countries, continents, and climatic-ethnic regions? Finally, what types of enterprises were nourished by British capital? How did the shares vary among government, private and mixed—government and private—undertakings? We believe that our time series provide more reliable answers to these questions than do previously available data.
From Indian Status to British Contract
Authors: Cohn Bernard S.
Published: August 2016

One of the first problems confronting a colonial power after establishing de facto or de jure sovereignty over a new territory is to set up procedures for settling disputes arising within the dominated society, and to establish a whole range of rights in relation to property and obligations of individuals and groups to one another and to the state.
On Satelliteship
Authors: Murphy George G. S.
Published: August 2016

We have had a little over forty years of experience of countries we conventionally dub “satellites.” In looking at this slice of recent history two questions come to mind. Can one fit the type of relationships he finds within the Sino-Soviet bloc into the perspectives which economic history has developed in the debate on colonialism and imperialism? Has Nature made a leap and produced a new historical type, or do we have merely a new subtle change in form?
Technological Change in the Machine Tool Industry, 1840–1910
Authors: Rosenberg Nathan
Published: August 2016

Technological change has come to absorb an increasing share of the attention of the economist in recent years. Several attempts have been made to assess the quantitative importance of technological change, as opposed to increases in factor supplies, in accounting for the secular rise in per capita incomes in the United States. It appears, in all these studies, that technological changes (shifts in the production function) have been far more important than has the mere growth in the supplies of capital and labor inputs, as conventionally measured (movement along an existing production function). In a sense, this should be cause for deep concern, since the comparative neglect of the process of technological change (with the major exceptions until very recent years, of the works of Marx, Schumpeter, and Usher) suggests a serious malallocation of our intellectual resources. If the studies of such people as Abramovitz and Solow are even approximately correct with respect to orders of magnitude, then the contribution of technological change to rising per capita incomes absolutely dwarfs the contribution from a rising but qualitatively unchanging stock of capital. It would appear that we have indeed been playing Hamlet without the Prince.
The Role of the Railroads in United States Economic Growth
Authors: Cootner Paul H.
Published: August 2016

The railroads played an important role in the economic history of the United States. It was an epic role, involving enterprise on a grand scale, evoking heated passions, and rich in anecdote and drama.
Nature and Progress of Agrarian Reform in Latin America
Authors: Alexander Robert J.
Published: August 2016

Agrarian reform has become a major subject of political discussion in Latin America. Its preeminence is due to developments within Latin America, to the late President John F. Kennedy and the Alliance for Progress which he sponsored; and to the Castro regime in Cuba. In this paper we shall discuss the background of the problem throughout the area, and then look in some detail at the four major agrarian reform efforts which have been undertaken so far: those of Mexico, Bolivia, Venezuela, and Cuba.
The History of the Common Market
Authors: Kohr Leopold
Published: August 2016

The successful establishment of the European Common Market on January 1, 1959, has renewed interest in the tool by which this most ambitious of all economic integration projects has been accomplished. The interest is the greater as this is only the first of three attempts to integrate economic development on a continental scale. The others are the common markets envisioned for Africa and Latin America. This article is an attempt to convey in the briefest possible space the history of economic integration that preceded the current drive toward common markets.
Problems in the Relationship of Communication and Economic History
Authors: Easterbrook W. T.
Published: August 2016

Present interest in communication research in the social and physical sciences raises some interesting and difficult questions for the economic historian. Arthur Cole, who claims that he is merely trying to carry further the work of Harold Innis and others at Toronto, but who is surely the moving spirit in this session, has suggested that we might begin by pin-pointing a few leading questions for examination. Is this comparatively recent development to be regarded as merely a passing phase in the history of fashions in thought? Is the process of relating communication to economic change mainly a process of sophistication and is there anything to argue about in this relationship? Or, on the other hand, does it in fact amount to a major break-through in scientific and historical analysis, something comparable to the impact made on economics about a century ago by the Austrian School?
The Significance of Regional Studies for the Elaboration of National Economic History
Authors: Broude Henry W.
Published: August 2016

The purpose of this paper is to serve as a point of departure for discussion of the relationship of regional differentiation and growth to general economic development. In addition to touching on methodological problems, I hope to establish two specific points: (a) that the needs of economic history call for particular perspectives in delimiting regions, and (b) that study of regional interaction can provide insights in an understanding of national economic development.
The Theories of Hermann Aubin Critically Considered
Authors: Wolff Klaus H.
Published: August 2016

Germany, the homeland of particularism, is in many ways also the homeland of regionalism. On all kinds of German regions there exists an absolutely staggering wealth of assorted literature. Towering above this multitudinous evidence of local pride and local patriotism stands the work done by a group of German scholars who labored together on the task of finding in the region, the Raum, the Landschaft, the meaningful unit for historical study. Their work is associated most closely with the name of Hermann Aubin. This paper is intended to introduce to American students of economic history the work and ideas of Hermann Aubin and the men working directly or indirectly under Aubin's inspiration.
The Legal System and Economic Development of Greece
Authors: Pepelasis A. A.
Published: August 2016

A side from some overworked generalizations regarding poor soil, shortage of capital, lack of arable land, population density and such, there are no studies in English that deal with the general economic history of Greece or with specific problems in her economic development since the establishment of the modern Greek state in the third decade of the last century. An analysis of the influence of the legal system on this development, therefore, may throw light on Greek economic history in general and open a useful discussion. It may also add something to our knowledge of the larger problem of the relation of socialcultural institutions and economic activity.
Business Entrepreneurs, Their Major Functions and Related Tenets
Authors: Evans G. Heberton
Published: August 2016

The author of the earliest general treatise on economics, writing in the middle of the eighteenth century, regarded the entrepreneur as a key factor in production. Later economists have in general had the same feeling, though they have not defined the word entrepreneur in precisely the same manner. By some the entrepreneur has been considered to be primarily a risk or uncertainty bearer, by others an innovator, by still others a superintendent or manager. The list could easily be expanded. The tendency for economists to emphasize now one and now another aspect of entrepreneurship derives, I believe, from several factors: the variations in the volume and nature of economic opportunities, the increasing size of the business unit, and the changes in the legal forms of business organization.
Starr on Slavery
Authors: Degler Carl N.
Published: August 2016

Chester G. Starr's recent article in the Journal (March 1958), “An Overdose of Slavery,” does a fine job of showing that people other than slaves worked in antiquity, but it leaves hanging the crucial question regarding the place of slavery in the economy of the ancient world. Moreover, Starr enters a strong plea against comparing ancient and modern slavery. These two aspects of his paper I think merit some further comment.
Anglo-American Wage Differences in the 1820's
Authors: Rosenberg Nathan
Published: August 2016

In 1829 Zachariah Allen, a lifelong resident of Providence, Rhode Island, published his book, The Science of Mechanics. Neither the title nor a casual glance at the contents of the book suggests that it contains material of major interest to economists or economic historians. Allen's book was intended as a manual for American mechanics and manufacturers. It summarized that portion of the industrial arts of its day which the author considered most useful and relevant for the edification of his American readers. The book contains elementary tables of conversion, arithmetic and geometric rules and formulas, a good deal of simple physics, and extensive descriptions of the workings of machinery—especially water wheels, steam engines, and millwork generally. In particular, Allen attempted to summarize much of what he had learned during a recent tour of the major manufacturing districts of England and France, so as to bring Americans up to date on the “latest improvements in mechanical invention in those countries.’ Unobtrusively placed in the back of this book, however, is a chapter, “Comparative View of the Relative Advantages Possessed by England, France and the United States of America as Manufacturing Nations,’ which records his more strictly economic impressions of his tour, taken in 1825. His observations in this short chapter, often trenchant and occasionally pungent, invite comparison with some of the better known European travelers to the United States. Anyone who can write, as Allen does (p. 355), that “An industrious New-England mechanic commonly appears to take pleasure in his business; but the French mechanic is rather inclined to make a business of his pleasures,’ is obviously entitled to a sympathetic hearing.
Railroads and Regulation, 1877–1916: Conspiracy or Public Interest?
Authors: Harbeson Robert W.
Published: August 2016

Professor Gabriel Kolko in his recent work, Railroads and Regulation, 1877–1916, presents an interpretation or the origin, motivation, and consequences of the movement for federal regulation of railroads which differs in important respects from that which has hitherto been generally accepted. Thus it has generally been held that railway regulation was a response to the demands of farmers and other shippers for protection against monopolistic and discriminatory tactics on the part of the railroads and that regulation was bitterly resisted by the latter. Kolko, on the other hand, holds that regulation was actually welcomed by the railroads as a means of securing the rate and profit stability which they were unable to maintain by their own action, and that “the railroads, not the farmers and shippers, were the most important single advocates of federal regulation from 1877 to 1916” (p. 3). He concedes that “the movement for federal regulation of the railroad system was not, in any strict sense, deliberately initiated by the railroads’ (p. 20) and that legislation could not have been passed without shipper support, but points out that shippers were either inarticulate or divided with respect to the kind of regulation, if any, desired, and that the railroads were always able to secure the support of enough shipper groups to insure passage of the legislation which they favored. Furthermore, the railroads welcomed federal as opposed to state regulation, since they regarded the latter as punitive and restrictive and less amenable to their influence than federal regulation.
Egypt Since 1800: A Study in Lop-sided Development
Authors: Issawi Charles
Published: August 2016

One of the main points at issue between economists from advanced and those from underdeveloped countries is the role of foreign trade in economic development. The former see in the expansion of foreign trade the main motive power of development, while the latter pin their hopes on other sectors, notably manufacturing. The answer would seem to be that foreign trade is a necessary but not a sufficient condition of development. Economic growth of underdeveloped countries can be achieved most smoothly if they can build up a substantial export trade that is sufficiently closely linked to the rest of the economy to exert upon it some form of multiplier effect so that a rise in exports leads to a more general and diffused expansion. In other words, over a long period of development, foreign trade is the engine that provides the motive power, but this engine cannot move the economy unless it is provided with adequate transmission lines. Or, to change the metaphor, other branches of the economy can be vivified and developed by grafting on to them some of the capital created and the skills generated in foreign trade.
The Trustee Savings Banks, 1817–1861
Authors: Fishlow Albert
Published: August 2016

The economic historian is well aware of the philanthropic origins of savings banks. Both in Western Europe and the United States they were initially established by public spirited individuals as a depository for the funds of small savers. It is not so widely appreciated that such banks were encouraged officially as a part of social policy in England during the nineteenth century. In an age in which self-help and individual thrift were conceived as the only solutions for lower-class poverty and distress, a means of spreading such virtues was sure not to go unnoticed. Brought forward in those critical years at the end of the Napoleonic wars, “here was the first constructive and practical proposal for counteracting the growing pauperization of the community, restoring independence to the masses, stopping the growth of the poor rate, and giving the ordinary man and woman some interest in the financial stability of the country.”
Russian Peasants in the Factory 1892–1904
Authors: Von Laue Theodore H.
Published: August 2016

The character and revolutionary potential of Russian factory labor in the early phases of industrialization have been a source of controversy for over two generations. While no longer a matter of the utmost consequence, the problems of analysis and the conclusions involved in this debate have retained their significance not only for the study of the Russian revolutions but also for our contemporary experience with labor in underdeveloped countries. The following pages, dealing with the crucial years around 1900, intend to apply a modern approach to an ancient subject, starting with the question of the relationship between peasants and workers in the Russian factories and advancing to the problem of the “exploitation” of the workers by the “capitalists.”
The Realism of Saint-Simon's Spiritual Program
Authors: Stark W.
Published: August 2016

In constructing his social theory Saint-Simon made use of the inductive method: by the study of historical facts he endeavored to win knowledge of the laws of the character and movements of society. In shaping his spiritual program he followed a different path, the path of deduction: his goal was to find a great principle in accordance with which the institutions of the future social order could be consciously molded. “Socrates,” he said, putting his ideas into the mouth of the great Greek, “clearly understood that we must criticize a posteriori and organize a priori.” For “any social regime is an application of a philosophical system, and, consequently, it is impossible to institute a new regime without having before established the new philosophical system to which it should correspond.”
The “Railroad Scheme” of Massachusetts
Authors: Kirkland Edward C.
Published: August 2016

By the 1820's, New England was in ferment. Unitarianism had shattered the old religious orthodoxy and, while the Dedham case provided a material dowry for the new religion, the sermons of William Ellery Channing furnished a theology and creed. In politics the dogmas of regional Federalism were weakened and soon Daniel Webster was to celebrate the virtues of an embracing nationalism which Pickering and his fellow conspirators of an earlier period would have found incomprehensible. Along the Merrimack were arising the cotton-mill towns, symbols of a new industrialism. An old order was giving way to a new. Once begun, change accelerated and touched one by one the institutions and ideas of the region. Of the economic factors that gave momentum to this transformation, the railroad was the most important. For it was the railroad that after 1830 tied New England into the nation. No longer was it to be a fringe of Hanseatic ports communicating with the rest of the world and with America by sea; it was to become a section in a developing nation. When Emerson wrote of Massachusetts, “From 1790 to 1820, there was not a book, a speech, a conversation, or a thought in the State,” he should have added that there was not a railroad. For the railroad, even though it may not have opened wider prospects, at least revealed different ones.
Abstract: Institutional Portfolio Restrictions, Diverse Investor Opportunity Sets, and Securities Market Equilibrium
Authors: Glenn David W.
Published: August 2016

This paper utilizes a two-parameter model of segmented securities markets to develop equilibrium implications concerning the impact of statutory investment restrictions upon the market prices and allocation of risky securities. The distinguishing feature of the model is the existence of a subset of securities common to the opportunities of all investors and therefore said to “span” the investor population. These common opportunities are shown to permit intersubset security transactions which integrate the various market segments and lead to the following theorem and tendency concerning equilibrium prices and portfolios:

Theorem: In the absence of active barriers against short positions, the equilibrium expected return for any security spanning the investor population is an exact linear function of its contribution to total market risk, irrespective of the number of distinct investor segments that may exist.

Tendency: The economic characteristics of the equilibrium risky portfolio for any investor, irrespective of the market segment to which he or she may belong, will approximate the characteristics of the market portfolio of all risky assets in the economy in all relevant risk dimensions.
Abstract: Nuclear Power and Electric Utility Capital Costs: The Announcement Effect
Authors: Linke Charles M. , Zumwalt J. Kenton
Published: August 2016

This study examines the observable impact an electric utility's announcement of its decision to invest in nuclear power has upon stockholders' expected returns. The response of shareholders is examined via residual analysis and by a dummy variable switching regression technique.
Abstract: A Note on Dummy Variables and the Chow Test: Their Equivalence and Uses in Testing
Authors: Snow Marcellus S.
Published: August 2016

A general proof using matrices is given proving the equivalence of the Chow test (analysis of covariance) and an appropriate adaptation of the dummy variable technique. Implications of hypothesis testing in the linear regression framework are reviewed for each method. The dummy variable approach is found to have the following advantages: (a) it is more convenient in testing hypotheses regarding the equality of subvectors of the parameter vectors from separate regressions, in particular not requiring the running of new regressions as the Chow test approach sometimes does; and (b) a more general form of hypothesis can be tested, namely that corresponding regression parameters differ by a constant other than zero.
The role of subtotal petrosectomy in cochlear implantation
Authors: Casserly P , Friedland P L , Atlas M D
Published: August 2016

Background:

Subtotal petrosectomy combined with cochlear implantation is a procedure required in specific situations.

Methods:

A retrospective review of all cases of subtotal petrosectomy in cochlear implant surgery over a five-year period was performed. The indications, complications and outcomes for this procedure are outlined.

Results:

Sixteen patients underwent cochlear implantation in combination with subtotal petrosectomy and blind sac closure of the external auditory meatus from 2008 to 2013. Seventy-five per cent of these were completed as a two-stage procedure and 25 per cent as a single-stage procedure. The most common indications for the procedure were chronic otitis media, previous radical cavity, and for surgical access in challenging anatomy or in drill-out procedures. Mastoids were obliterated with fat or musculoperiosteal flaps. The complication rate relating to blind sac closure was 6 per cent. Cochlear implants were successfully placed in all cases and there was no incidence of device failure.

Conclusion:

For patients with chronic suppurative otitis media or existing mastoid cavities, subtotal petrosectomy with blind sac closure of the external auditory canal, closure of the eustachian tube, and cavity obliteration is an effective technique to facilitate safe cochlear implantation.
A systematic review of the evidence base for vidian neurectomy in managing rhinitis
Authors: Marshak T , Yun W K , Hazout C , Sacks R , Harvey R J
Published: August 2016

Background:

Vidian neurectomy has been proposed as a surgical option for rhinitis refractory to medical treatment. However, the evidence base for its benefit remains controversial.

Methods:

A systematic review was performed. Studies reporting original data on patients with rhinitis treated by vidian neurectomy were included. Patient-reported outcome measures were the primary outcome investigated; specific peri-operative morbidities were the secondary outcome.

Results:

A total of 1012 articles fulfilled the search criteria, 32 of which were included in the study. Patient-reported outcome measures were compared before and after surgery in eight studies. There were 529 patients represented in these trials. Significant improvement in rhinorrhoea was reported in all eight studies. Temporary dry eyes was reported in 24.63 per cent of cases (272 out of 1104 cases). There was no report of cranial nerve deficit or eye movement disturbance.

Conclusion:

Endoscopic vidian neurectomy does have a role in the surgical management of refractory rhinitis, particularly in patients with non-allergic rhinitis, but a well-designed cohort trial would be advantageous to clarify long-term outcomes.
Melioidosis in a patient with chronic rhinosinusitis
Authors: Phillips N M , Cervin A , Earnshaw J , Sidjabat H E
Published: August 2016

Background:

Melioidosis is a serious infection caused by soil-dwelling Gram-negative bacillus Burkholderia pseudomallei. It is most commonly reported in Northern Australia, Southeast and Southern Asia, China, and Taiwan.

Methods:

A case report and short review of the literature are presented. Presentation, diagnosis including genomic sequencing, and acute and long-term management are discussed.

Results:

A 58-year-old female presented with chronic rhinosinusitis secondary to melioidosis. This is the third reported incidence of sinusitis secondary to melioidosis, which occurred in an otherwise well female with no risk factors and no apparent cause of exposure. Treatment involved an acute phase in which meropenem was administered parenterally for two weeks, followed by a prolonged oral course of trimethoprim-sulfamethoxazole for three months, as per recommended guidelines.

Conclusion:

In patients presenting with refractory chronic rhinosinusitis, ENT surgeons should consider the presence of unusual causative pathogens such as B pseudomallei, particularly in those with recent travel history to Northern Queensland and/or Southeast Asia.
Investigating the risk factors of vestibular dysfunction and the relationship with presbyacusis in Singapore
Authors: Tan J L , Tang J , Lo S , Yeak S
Published: August 2016

Objectives:

This study aimed to determine the prevalence of vestibular dysfunction in the Singaporean elderly and its association with presbyacusis, age and other associated risk factors.

Methods:

A cross-sectional study was undertaken in a tertiary otorhinolaryngology department and the community. Healthy adults aged 40 years and above who participated in the institution's community presbyacusis screening programme were invited to participate. The main outcome measures including pure tone audiometry and vestibular assessment were obtained using a modified Clinical Test of Sensory Interaction on Balance.

Results:

The prevalence of vestibular dysfunction and presbyacusis in the study population of 216 participants was 30.1 per cent (95 per cent confidence interval, 24.0 to 36.2 per cent) and 55.6 per cent (95 per cent confidence interval, 49.0 to 62.2 per cent), respectively. The median age was 60 years (range, 40–86 years). The adjusted odds ratio for vestibular dysfunction increased by 6.2 per cent with every year of life (p < 0.05), and by 3.14 times in the presence of presbyacusis (p < 0.05). After adjusting for age and presbyacusis, diabetes (n = 30), hypertension (n = 85), hypercholesteraemia (n = 75), cardiac disease (n = 14), stroke (n = 7) and smoking (n = 55) were associated with an increased odds ratio for vestibular dysfunction which did not reach statistical significance (p > 0.05).

Conclusion:

Vestibular dysfunction is independently associated with ageing and presbyacusis. Further research into the benefits of additional screening for vestibular dysfunction in elderly presbyacusis patients is warranted.
A Correction in Hesychius
Authors: Gennadius J.
Published: August 2016

Some years ago I contributed to the Νέα Ήμέρα, then a flourishing Greek weekly journal in Trieste, a treatise on Greek Cynegetics. Pressing occupations compelled me to stop short at the chapter on Dogs—their Greek names and various breeds. Among the considerable material collected on this subject there occurred the following definition from Hesychius: Φόλυες· κύνες οἳ πυρροὶ ὄντες μέλανα στόματα εἵχον. Now dogs whose mouths could be said to be black were unknown until the so-called chows were quite recently introduced into the West from China. Evidently we have here some copyist's error, such as abound in this invaluable vocabulary, so highly prized by Coray. It appeared to me that the problem might be solved by a close inquiry into the use and meaning of the word φόλυς.
Intelligent Careers of Pacific Island Leaders
Authors: Parker Polly
Published: August 2016

Pacific peoples hold a unique place as an ethnic community within Aotearoa-New Zealand. The largest immigrant minority population in New Zealand brings a different culture to that of the dominant Pakeha (European). One implication is the need for acculturation into New Zealand society. Leadership, when characterised here as a process through which Pacific elders model the “Pacific way” to guide their youth, is critical to manage the tension between maintaining traditional ways and integrating into a dominant culture different from the people's own. This paper reports an empirical study conducted with Pacific professionals working in the public sector of New Zealand. Recognised for their potential to influence Pacific peoples, the participants were sponsored by the ministries of Health and Pacific Island Affairs to attend a three-day leadership development course that included a careers component. The scarcely researched links among leadership, careers and social cultural issues are explored. Intelligent career theory is introduced and the processes associated with eliciting subjective and inter-subjective career data are explained The results reflect the interdependence of motivation, skills and knowledge, and relationships, which together strongly influence the career and leadership behaviour of Pacific peoples to enhance the outcomes for Pacific peoples in New Zealand. Theoretical and practical implications are discussed.
Digital Change and Organizational Development: Views from the Public Sector in Papua New Guinea
Authors: Mosan James
Published: August 2016

This study explores the potential of Internet-based technology to change the nature of work in the civil service sector in Papua New Guinea (PNG, specifically to contribute towards Organisational Development (OD). Immediately following and one year after an awareness-raising civil service conference on computer-mediated communication and its potential to help develop the workplace, 23 PNG public sector employees who had attended the conference responded to a range of closed and open-ended attitude questions regarding Information and Communication Technologies (ICTs). On balance, they reported that in their experience, ICT following the conference had been relatively empowering, had enhanced organisational communication and accountability, and had helped to improve the flow of knowledge within and between public sector groups. In PNG, digital technology might help to facilitate the development of intra- and inter-organisational unit teamwork. To that extent, digital technology in the longer-term may assist not only in OD, but also in the development of capacity more generally.
From Policy to Practice: Reflections on working across cultural borders in tertiary education
Authors: Richardson Fran , Jones Linda
Published: August 2016

This paper describes the processes and challenges presented when Pākehā lecturers supervised a research project undertaken by Māori and Pacific nursing students in a New Zealand Bachelor of Nursing programme. It reflects on the reality of translating institutional policies from paper to practice and is situated in the framework of the Treaty of Waitangi and cultural safety. Cultural safety is a nursing concept that focuses on power in health-care relationships. People involved in the project experienced degrees of vulnerability in different cultural contexts, in terms of cultural identity, personal, professional and cultural values and beliefs, nursing and psychology knowledge and academic and institutional policies and practices. Culture is used in a broad sense and not confined to ethnicity. Various issues encountered during the project are identified, and examples of difficult experiences discussed. The paper concludes that working across broad cultural borders requires working with the complexities of multiple realities and discourses.
Smoking Among A Sample Of Australian Teenagers: Perceptions Of Social And Health Consequences
Authors: O'Callaghan Frances V.
Published: August 2016

Australian national prevalence studies indicate that despite reductions in rates of smoking among younger secondary students, the proportion of smokers among older students remains unchanged in recent years and figures overall give cause for serious concern. This study examines the beliefs underlying adolescents' behaviour in relation to smoking and provides information about which beliefs should be targeted in persuasive communications designed to reduce adolescent smoking. One hundred and thirty adolescents in their second last year of high school were surveyed and results revealed that smokers were largely differentiated from others in relation to the perceived social consequences of smoking. They endorsed the beliefs that smoking would make them feel relaxed, gain personal enjoyment, look cool, and help with weight loss rather than beliefs regarding the health consequences. An important implication of the findings is that interventions may need to focus more on the perceived positive consequences of smoking, on changing social norms by correcting false beliefs about smoking prevalence and consequences, and by incorporating more skills-based components in prevention programs.