bluuebunny/crossref_metadata_2025 huggingface dataset:
Welfare Policy and Economic Development: A Comparative Historical Perspective
Authors: Rimlinger Gaston V.
Published: August 2016

Over a century ago the American economist Henry C. Carey wrote that the masters of slaves “feel that they consult their own interests in feeding, clothing, and lodging them well, because wealth increases faster than population, and their labor becomes daily more valuable.” The change in the wealth/labor ratio which Carey noted is a fundamental aspect of economic growth. Carey saw its consequences in terms of the better care bestowed upon the slave by his master, but with appropriate modifications the same consequences apply to the free worker in a maturing industrial society.
Regional Income Differentials in Canada, 1911–1961
Authors: McInnis R. Marvin
Published: August 2016

The point of departure of this dissertation is the observation that, over the entire period for which statistics are available, regional differences in income per capita in Canada have remained unchanged. Five commonly recognized regions of the country are considered: the Maritimes, Quebec, Ontario, the Prairie Provinces, and British Columbia. Official statistical series show that the relative levels of income per capita in the five regions have been about the same in recent years as in the late 1920's, when the series begins. In a world of continuous change there may be no single expected trend of regional income differentials, but convergence does seem to be a common pattern among the industrially advanced nations of the world.2 The Canadian experience is sufficiently interesting to call for further examination. The dissertation summarized here begins this examination in two ways: estimates of regional per capita income are made for some years prior to the beginning of the official series and a preliminary examination of some important factors influencing regional income differences is begun.
A Quantitative Study of American Colonial Shipping: A Summary
Authors: Walton Gary M.
Published: August 2016

It is widely accepted that improvements in transportation were an important feature of Western development. However, in contrast to the research undertaken on transportation after 1775, very little study has been undertaken on the development of transportation before the Revolution. The main theme of this study is productivity change in ocean shipping on colonial routes, 1675-1775. The primary objectives are twofold: to estimate the change of productivity and to determine the sources of that change.
American Versus West Indian Traders in Liverpool, 1793–1815
Authors: Checkland S. G.
Published: August 2016

The war between Britain and France, extending over some twenty two years down to 1815, lies across the great formative period of modern Western society. Like all of its kind, the war may be regarded from two points of view: First, it altered the societies involved in it, as fighting needs conflicted with peaceable ones; second, it affected the nexus which binds countries together—trade and its financing.
The Role of Religious Ideas and the Use of Models in Max Weber's Comparative Studies of Non-Capitalist Societies
Authors: Warner R. Stephen
Published: August 2016

The theme of this conference, “The Organizational Forms of Economic Life and Their Evolution,” implies a concern for specifying the limits of the applicability of classical and neo-classical economic theory. Presumably because we sociologists have been in the forefront of those who insist on the recognition of these limits, I have been asked to present a paper from the viewpoint of historical sociology. Now I suppose that your field and mine are alike in at least one respect: the infrequency of finding any one view on a broad and significant question. I am sure you will understand, therefore, my concentration on some lessons to be learned from the work of one of the heroes of my discipline, Max Weber (1864–1920). Weber, as you may know, was, among his other titles, a professor of economics and avoided the epithet of “sociologist.” Yet because sociology has changed since his day, largely under his influence, and because he was also a professor of law and of political science, we sociologists have now claimed him. Nevertheless, many of the issues that informed his massive scholarly research were and are issues central to both your field and mine.
The Interrelation of Theory and Economic History
Authors: Rostow W. W.
Published: August 2016

I Do not much hold with ardent debate about method. A historian method is as individual—as private—a matter as a novelist's style. There is good reason for reserve—even reticence—on this subject, except insofar as we seek to share each other's unique professional adventures and to listen occasionally, in a mood of interest tempered with skepticism, to such general reflections as we each would draw from those adventures.
Long-Period Comparative Study: Some Historical Cases
Authors: Easterbrook W. T.
Published: August 2016

In this paper I shall limit myself to various comments on integration narrowly conceived, that is, within the discipline of economic history itself, and to a few historical cases used to illustrate the possibilities and limitations of comparative method as a means to this end. Comparative study, as Miss Thrupp has stressed, scarcely represents a new departure in economic thought. The novelty seems to be rather in the almost universal appeal it now has for those who would explore the mysteries of change. This interest appears to be a consequence of the impact of recent developments in backward-area studies and the closely related pursuit of a general theory of growth; these tend to focus attention on different kinds and rates of growth and comparison becomes inevitable. In turn, accumulations of knowledge about economic change in very different contexts lead to the need for some means of correlating diese, partly for aesthetic reasons but also because a synoptic view of the landscape of change has its very practical use. Unless the whole field can be surveyed from a single point of view, and by this I do not mean the same point of view, it is very difficult to know where the need for more intensive exploration is greatest.
Federal Land Grants in Aid of Canals
Authors: Rae John Bell
Published: August 2016

In the history of federal aid to transportation in the United States the land grants given to assist in the construction of canals have been almost completely overshadowed by the far more munificent land subsidies to the railroads. The disparity between the two is, indeed, striking: the canals received altogether about 4,500,000 acres, as against the approximately 130,000,000 acres which ultimately passed to the railroads. Nevertheless, the importance of the canal grants is not to be judged solely by the amount of land involved. To the extent that they were effective they contributed to the building of waterways, the influence of which on the economic development of the Middle West was considerably greater than is generally appreciated today. The Ohio canals, for example, are credited with stimulating the growth of that state in a way comparable to the impetus given New York by the Erie Canal; the Wabash and Erie Canal in Indiana, chronically insolvent as it was, produced, within ten years of its opening, a fivefold increase in the population of the counties that it traversed; and the historian of the Illinois and Michigan Canal asserts that this waterway “not only transformed a wilderness into a settled and prosperous community, but it made Chicago the metropolis of the Mississippi Valley.” The natural enthusiasm of authors for their subject may require some discounting of these claims, but not enough, in the face of the evidence that is offered to support them, to detract seriously from the significance of the land-grant canals.
Rostovtzeff's “Social and Economic History of the Hellenistic World”
Authors: Hammer Jacob
Published: August 2016

Systems resembling modern étatisme can be traced to antiquity. So can other measures: planned economy in various fields, monopolies with their fixed prices and other burdens, forms of state control which benefited the state or particular individuals, but which compromised the best interests of the people. On the other hand, paying salaries to the poor, unemployed citizens to avert the outbreak of social revolutions, “soaking the rich” by excessive and even ruinous taxation were among the economic measures known to the ancient world also. So were other present-day phenomena: the presence of “haves and have-nots,” inflation, strikes, and the low purchasing power of the masses.
The Invention of the Western Steamboat
Authors: Hunter Louis C.
Published: August 2016

The steamboat was the first great American contribution to modern technology. First developed to the point of practical commercial success in this country, the steamboat was quickly incorporated into the economic structure of the nation and within a few years became the principal vehicle of transportation on the main channels of inland commerce. Eventually the influence of the American steamboat was felt all over the globe, and there were few great river systems that in time did not feel the beat of the paddlewheels by which it was propelled.
In the Southern Retail Trade After 1865
Authors: Clark Thomas D.
Published: August 2016

After 1865 Southerners found their communities generally in a state of economic chaos. This was particularly true of the mercantile system. Before the war numerous small towns and villages were in the process of development, and the more localized system of merchandising was reaching out into the general trade. The merchants of the new stores were rapidly cutting into the virtually monopolistic control previously exercised by the system of cotton factorage on which the larger planters depended for supplies, for with the establishment of local stores, cotton planters looked more and more to their home merchants. During the four years of war these local stores were practically forced out of business by a lack of stock. The end of the war brought to the merchant a complete economic revolution. He was now to engage in a system of storekeeping which was unique in every respect except the name. Southern general stores became country stores whether they existed in the country or not, for the bulk of their trade was that of ”country” supply.
In the Dennison Manufacturing Company
Authors: Dennison Henry S.
Published: August 2016

In accordance with the proper procedures of economic history and nicely within the limitations of my own knowledge, my comments upon the three papers presented take the form of recollections of some of the business conditions met with in my forty-four years of service with a single manufacturing and selling company.
The Development of American Laissez Faire
Authors: Henrich Frederick K.
Published: August 2016

The pamphlet literature and the public documents of our early national period show that in spite of repeated instances of governmental interference in economic life, a great deal of thinking was being done along laissez-faire lines. This thought was unsystematic. It was pragmatic rather than philosophical, never doctrinaire, concerned primarily with defending and attacking specific measures of public policy. Nevertheless, it was serious thought, and in many instances had an important influence on legislative action. It was not restricted to any political group, but pervaded to a greater or less degree the thinking of all leaders of the community. Owing little to the teachings of contemporary European economists, American libertarianism deserves analysis as an indigenous body of theory, growing out of, and adjusted to American conditions.
Laissez-Faire Thought in Massachusetts, 1790–1880
Authors: Handlin Oscar
Published: August 2016

This paper will deal not with the development, but rather with the lack of development of laissez-faire thought in Massachusetts during most of the nineteenth century. A common misconception of American economic thought, as of American economy, ascribes a continuous laissez-faire bent to policy in the United States. This misconception will be found not only in the pretty publications of the National Association of Manufacturers where it might be expected, but also in the serious works of our most careful scholars into which it obtrudes almost automatically. Thus Mr. Nef recently referred to laissez faire as “part of our national heritage.” Yet, in general, and specifically as applied to Massachusetts, this is completely erroneous.
Laissez-Faire Thought in Pennsylvania, 1776–1860
Authors: Hartz Louis
Published: August 2016

Nearly seventy-five years have elapsed since Henry Carey complained that the term laissez faire had become a meaningless symbol, an object, as he put it, of “word-worship.” If the task of definition seemed imposing in his time, it is not less so in ours. The concept has been used with abandon on various levels of political and economic discussion. It belongs to a whole category of catchwords in our social thought whose connotations, if they ever were precise, have become blurred through constant and polemical usage. They are dangerous labels for the historian. This paper seeks to analyze the ideas developed in Pennsylvania to oppose governmental action in economic life during the period from the Revolution to the Civil War. For the present purpose it is not a matter of significance whether one chooses to believe that any of these ideas are genuinely laissezfaire in character or not.
A Report on Research in Economic History
Authors: Cole Arthur H.
Published: August 2016

By reason of the war, a report to the Social Science Research Council more extensive than any I have hitherto submitted seems appropriate. The war has affected us in several ways. Our “terms of reference” reflected the international situation, since they directed our attention to the economic history of countries embraced in the Western Hemisphere; it has steadily diminished the speed with which our research work has gone forward, until that work is now largely at a standstill; and it lately has begun to make us think and plan in terms of a more effective postwar period. Inasmuch as the Committee has definitely selected the areas of special research interest that will probably engage its full attention in the years immediately ahead and inasmuch as the period of its present appointment may extend hardly beyond the war period itself, there appears to be particular reason why I should lay before you the general scheme of its research plans, the specific projects that it has thus far sponsored within its chosen fields, and a series of outlines of what might be attempted in these general areas by research people released sooner or later from war services. In a sense, this report of mine is an effort at postwar planning.
Small Industry in Underdeveloped Countries
Authors: Hoselitz Bert F.
Published: August 2016

In historical studies of industrialization prominent attention is usually given to the development of large-scale industry and whenever small industry is considered at all, it is usually introduced only as the starting point of, or a contrast to, large industrial enterprises. This concern with large industry also predominated in the earliest post-war discussions on the economic development of underdeveloped countries and from this period stem the famous and often ridiculed schemes of giant steel plants and other large industrial establishments in littleadvanced countries. During the last few years, however, the general climate of opinion has changed and increasing attention has been paid to small scale and even cottage industries. This has been especially pronounced in the countries of southern and southeastern Asia and is strongly supported by various studies and conferences of the Economic Commission on Asia and the Far East and other organizations associated with the United Nations operating in this part of the world.
Labor's Role in Government Agencies During World War II
Authors: Stein Bruno
Published: August 2016

During World War II a system of labor participation and representation emerged in a series of national economic planning agencies. This study is primarily concerned with the representation and participation of organized labor in the activities of the National Defense Advisory Commission, the Office of Production Management, and the War Production Board. Some attention is also given to the War Manpower Commission and the Office of Price Administration.
British and World Shipbuilding, 1890–1914: A Study in Comparative Costs
Authors: Pollard Sidney
Published: August 2016

The relative stagnation of British industry during what has been called the climacteric of the 1890's did not extend to shipbuilding, though that industry, producing capital goods and depending on a substantial foreign market, shared many of the characteristics of the industries most affected by foreign competition. The purpose of this article is to discuss the comparative success of British shipbuilding. In the first two sections, the conditions of shipbuilding in Britain and in the countries that rivaled her are briefly described, and in the remainder of the paper the factors influencing comparative costs are examined.
The Intellectual Origins and New-Worldliness of American Industry
Authors: Sanford Charles L.
Published: August 2016

The revolutionary technological changes that have come to typify our modern industrial society were first felt in the New England textile industry. The American zeal for useful improvements that greeted the industrial revolution was counterbalanced by a patriotic fear that the ill consequences of European manufacturing would be repeated here. The textile manufacturers who introduced the factory system into the United States early in the nineteenth century found it necessary, in order to win a full measure of public support and secure workers in a land where labor was dear, to demonstrate that “the moral standards of the community would not be impaired.”
Rejoinder
Authors: Gould J. D.
Published: August 2016

George W. Wilson's argument would be irrefutable if one could analyze long-term economic trends in terms of monetary theory alone. Undoubtedly, Mun's point was that specie judiciously exported for purposes of foreign trade would not be “lost to die Realm,” as the bullionists feared, but would return witii interest. If, then, we could assume no change in nonmonetary factors, pursuit of the policy advocated by Mun would ultimately make a rise of internal prices inevitable, save by a “flight from gold” on a scale uncongenial to mercantilist preconceptions. So far, Mr. Wilson's logic compels a modification of my argument, and for this demonstration I am grateful.
Potentialities of Capitalistic Development in the Economy of Mughal India
Authors: Habib Irfan
Published: August 2016

When we ask ourselves the question why India failed to industrialize (and develop a capitalistic economy) either before or after the British conquest, we touch the core of an old and hallowed controversy in which the partisans and opponents of British imperiahsm once confronted each other. To admirers of British rule, generally, it seemed that the fault lay with certain inherent weaknesses in Indian society. The influence of an “enervating climate,” the heritage of “oriental despotism” and recurring cycles of anarchy (inhibiting the accumulation and investment of capital), primitive techniques and ignorance, the rigidities of the caste system, the prevailing spirit of resignation rather than enterprise, all created conditions in which nothing but a subsistence economy could function. From such wretched beginnings, the British could not, whatever they did, lift Indian economy to European levels. The critics of imperialism saw things in a different light. They insisted that the primitive nature of Indian economy before British conquests ought not to be overstressed, and they ascribed India's backwardness chiefly to the strangulating effects of British rule, to “the drain of wealth,” the destruction of handicrafts, heavy taxation, and discrimination against Indian industry and capital. It will thus be seen that though the controversy involved a number of important aspects of modern Indian economic history, in part at least it centered on the potentialities of development in the Indian economy prior to the British conquests.
Economic Dualism: The Case of China 1840–1937
Authors: Hou Chi-Ming
Published: August 2016

A persistent argument in condemning foreign economic intrusion in China (1840–1937) is that the “traditional” or the “indigenous” sector of the economy was “hampered,” “disrupted,” or even “ruined.” It is maintained that the handicrafts, small mines, native banks, junks, and coolie carriers were all helplessly depressed because of competition from their counterparts in the modern sector of the economy, which was an outgrowth of external trade and foreign investment in China. Some have argued that the supposed decline in the traditional sector was a net loss to China, since the limited development in the modern sector was not large enough to offset losses in the traditional sector, or that gains in the modern sector were primarily reaped by countries which traded with or invested in China. Others have taken a more moderate view: that the net effect of foreign economic penetration in China cannot be ascertained, because gains and losses in the two sectors cannot be compared quantitatively. But in either case there is the assertion that there was a decline in the traditional sector.
The Issue of Paper Money in the American Colonies, 1720–1774
Authors: Weiss Roger W.
Published: August 2016

Every generation has interpreted the monetary experience of the colonies in the light of its own problems. The Jacksonian period produced the interpretations of Gouge just as the silver controversy of the 1890's produced the work of Bullock and Davis. The reaction to the financial fundamentalism of the 1890's came largely from the work of R. A. Lester and the unpublished but celebrated work of L. Brock in the late thirties and early forties, heavily influenced by the experience of the depression. From the latter two, a new orthodoxy has emerged among American historians, under the authority of E. James Ferguson, whose important recent study, The Power of the Purse, defends the paper money currencies of the colonies by a well-reasoned appeal to the modern fiscal practice of financing war by inflation.
Population and Economic Change: The Emergence of the Rice Industry in Guyana, 1895–1915
Authors: Mandle Jay R.
Published: August 2016

Considered analytically population growth may either have positive or negative influences on economic growth. Population expansion may, by facilitating a widening of markets, allow for economies of scale to be realized and permit the introduction of new industries, or by relieving labor scarcities, facilitate economic expansion. Possible negative implications for economic growth may result however, as Malthus argued, through the mechanism of diminishing returns or by changing the age structure of the population so as to increase the proportion of dependents relative to economically active producers and thus reduce the volume of goods and services available to each individual. The point is that economic analysis prima facia is agnostic with respect to the net effect of population change on economic change. One or all of the above relationships may be operative in any individual country experience and without careful empirical observations, it is impossible to identify accurately whether the negative or positive effects are dominant. Clearly what is needed before general statements about the relationship between population and economic change can be supported is a series of country studies whose purpose will be not only to determine the frequency with which the optimistic or pessimistic influences predominate, but in addition to identify the intervening economic and social institutions which account for the predominance of one or the other effect.
Recent Contributions to Economic History: The United States, The Twentieth Century
Authors: Cochran Thomas C.
Published: August 2016

Once upon his discussiona time, oraroundso it seems, outstandingthe historiographerworks by leading could professors. Perhaps in some fields of scholarship the time still lingers, but not in recent American economic history. A quick glance at studies applying to the twentieth century that have appeared since World War II shows a large array of books that vary in merit but include few outstanding works. Furthermore, the majority of both the more or less important books have been written by people who, to the best of my knowledge, would not call themselves economic historians.
Recent Contributions to Economic History: Canada
Authors: Easterbrook W. T.
Published: August 2016

The present state of economic history in Canada contrastswith that of a quarter century ago. It could be written sharplyin the 1930's that the most distinctive work in Canadian economics was being done by economic historians concerned with the study of transportation and tariffs, trade associations and agricultural organizations, money and banking. There was at the same time a close approach to a generally accepted framework of analysis and interpretation and more than a suggestion of synthesis in Canadian historical writings. This pre-eminence of economic history and this unity of theme are now things of the past. As to the first, the rate of progress in economic analysis and statistics, in sociology and political theory, has brought with it both a change in status and the prospect of extensive revisions, factual and interpretative, of our views of the past. Similarly, a former unity of approach resting on the economics of staple production has lost ground before the complexities of modern industrial change. For the economic historian these changes promise much for present and future research even if, at the moment, they bring small comfort.
Recent Contributions to Business History: The United States
Authors: Hutchins John G. B.
Published: August 2016

In the last two decades or so a new field of teaching and research, business history, has made its appearance. Like other fields of interdisciplinary origin it remains ill defined, and its literature exhibits the many points of view of its devotees, among whom are to be found historians, economists, students of administration, corporate officers, public relations men, and free-lance writers in search of drama. Consequently, we find wide variations in both analytical quality and historical accuracy and balance among the works. Very few of the studies approach the ideal of blending detailed historical investigation, meaningful analysis, and effective presentation, yet many nonetheless have marked interest. In this paper I shall endeavor, not to note in a comprehensive manner the many works, but rather to comment on how some of them have illuminated certain aspects of economic history, economics, and administration.
Dutch Colonial Policy in the Seventeenth Century
Authors: Masselman George
Published: August 2016

During the seventeenth century the Dutch had possessions in almost every continent, but their main interest was and continued to be the Malay Archipelago, now known as Indonesia. The search for these islands, known to be the source of spices, had launched die Age of Discovery with the explosive effect of opening the whole world to the countries of Western Europe. The Portuguese and Spanish had divided the world between themselves by the Treaty of Tordesillas (1494). Their aim was twofold: exploitation of newly discovered lands and a crusade to spread the Christian faith. England and the Dutch Republic, both Protestant, refused to abide by this arbitrary division, which had been sanctioned by die Pope. Both countries defended the principle that “the sea was as free as the air.”
Economic Imperialism: Sidelights on a Stereotype
Authors: Hammond Richard J.
Published: August 2016

I can best summarize the content of this paper by exhibiting four quotations:

A trading community like early Victorian England, which can still profitably employ all its capital in its mills and ships, becomes indifferent to the acquisition of territory, and even tends to regard the colonies previously acquired as a useless encumbrance. That was the normal state of mind of our commercial classes during the middle years of last century. They dealt in goods, and in order to sell goods abroad, it was not necessary either to colonise or to conquer. To this phase belongs the typical foreign policy of Liberalism, with its watchwords of peace, non-intervention, and free trade. The third phase, the modern phase, begins when capital has accumulated in large fortunes, when the rate of interest at home begins to fall, and the discovery is made that investments abroad in unsettled countries with populations more easily exploited than our own, offer swifter and bigger returns. It is the epoch of concession hunting, of coolie labour, of chartered companies, of railway construction, of loans to semi-civilised Powers, of the “opening up” of “dying empires.” At this phase the export of capital has become to the ruling class more important and more attractive than the export of goods. The Manchester School disappears, and even the Liberals accept Imperialism. It is, however, no longer the simple and barbaric Imperialism of the agricultural stage. Its prime motive is not to acquire land, though in the end it often lapses into this elementary form of conquest. It aims rather at pegging out spheres of influence and at that sort of stealthy conquest which is called “pacific penetration.” The old Imperialism levied tribute; the new Imperialism lends money at interest.
Effects of the Improvements of Communication Media
Authors: McLuhan Marshall
Published: August 2016

The advantage of having a tightly woven thesis to present to you is that it can be used in the introductory paper as a rug to be yanked violently from under my feet. If caution leads Professor Easterbrook “to remain, at least for the time being, in the informational camp,” it is obvious that only a total absence of caution would lead me, a professor of English, to venture before the leaders in the field of economic history in the role assigned to me today.
Report of the Discussion
Authors: Gibb George S.
Published: August 2016

Perhaps the basic characteristic of this well planned, well managed, orderly session was the fact that it had something for everybody. One suspects, in fact, that archeologists, ichthyologists, astronomers, and other learned specialists could profitably have added their voices. There was, inevitably, some shop talk, but one major result of die effort to relate economic history to economic and historical geography was to elevate much of the discussion to a plane where all kinds of students could talk to one another. Babel became orderly—communications-wise, that is. To the apostles was imparted, for this occasion at least, the grace of a common tongue. A definite though necessarily broad set of conclusions emerged—ones that when translated back into disciplinary idiom promised to be immediately useful to the respective practitioners.
Sequential Growth and the Development of American Unionism
Authors: Bolino August C.
Published: August 2016

George Murphy and Arnold Zellner, who admittedly “have little taste for ghosts or spirit rapping,” seem quite ready to exhume a doctrine and place it in an “up-to-date” package. We welcome historical re-evaluations; but our joys should not preclude us from challenging unwarranted conclusions. While I cannot deliver any spirits, I can at least do some spade work to turn over a few skeletons as partial refutation of the Murphy-Zellner conclusions. In particular; I wish to contest the following statements: (r) that “it [sequential growth] shortened and modulated business cycle contractions [and] contributed to shortening and alleviating critical situations for labor as a whole” (page 420); and (2) that it was largely responsible for “keeping the percentage of the labor force unionized small” (page 408).
In Search of a Business Class in Thirteenth-Century Genoa
Authors: Reynolds Robert L.
Published: August 2016

This paper is in no way a definitive study of classes, especially of the business classes, in the city of Genoa in the thirteenth century. The materials for such a study do exist in the notarial archives and in earlier publications on this and related subjects. Rather, this is a report drawn from “work resumed” and work in its early stages at that.
Abstract Executive Compensation Models: Some Problems with Traditional Methods of Estimation
Authors: Arnould Richard J.
Published: August 2016

The author argues, in this paper, that there are at least three reasons why a simultaneous equation bias may exist and be significant in single equation estimates of executive compensation when one of the independent variables is a measure of firm performance. First, there is simultaneity between the determination of the MRP of the executive input and profit maximizing output in the classical microeconomic sense. Second, where firm performance is used as a measure of executive quality, then a simultaneous bias may develop. Third, the presence of expense preference behavior could result in simultaneous but inverse effects on executive compensation and firm performance.
Abstract: The Macroeconomic Effects of Allowing Interest Payment on Demand Deposits
Authors: Lloyd-Davies Peter
Published: August 2016

This papaer assesses some of the costs and benefits of aloowing banks to pay interest on demand deposits. With the help of a simple short-run model of the financial sector, it is shown that, barring a possible but unlikely perverse reaction, the deposit rate will tend to move in the same direction as other rates. This will moderate changes in the money supply accompanying a given change in interest rates; conversely, a given change in the excess demand for money will cause larger fluctuations in the level of interest rates. This can either be good or bad; if the excess demand for money corresponds to an excess demand for real output, the wider fluctuations in the interest rate will be more effective in eliminating it.
Abstract: The Forecast Error Impact of Alternative Length Beta Estimation Periods, Adjustment Techniques, and Risk Classes
Authors: Eubank Arthur A. , Zumwalt J. Kenton
Published: August 2016

This paper examines empirically the relationship among the stability of security and portfolio betas and (1) the length of the sample period used to calculate betas, (2) beta adjustment techniques, and (3) beta magnitudes. Beta values are forecast using four models: (1) a naive model which assumes the beta value in period t + 1 is the same as in period t, (2) Blume's regression model, (3) a regression model used by Merrill Lynch, Pierce, Fenner and Smith, and (4) a Bayesian procedure suggested by Vasicek.
Abstract: Investor Objectives, Stock Recommendations and Abnormal Returns
Authors: Groth John C.
Published: August 2016

Recommendations provided by brokerage houses are often classified as to investment term (near,…) and objective (growth,…). An extensive set of recommendations made during the years 1964-1970 was examined. Issues addressed included availability of descriptors and stocks categorized by descriptors: differences in risk; the presence and pattern of risk-adjusted returns for a 19-month period surrounding the recommendation; the differential impact on trading activity; the reaction of the market to the recommendations; and parallels between the results and previous research efforts by other authors.
Open and endovascular repair of aneurysms affecting the distal extracranial internal carotid artery: case series
Authors: Mukherjee P , Huilgol R , Graham A , Fagan P
Published: August 2016

Objective:

Three cases of internal carotid artery aneurysm affecting the distal cervical segment were retrospectively reviewed.

Methods:

Two patients underwent open surgical repair requiring petrous segment exposure for bypass of the affected segment using a Fisch type A lateral skull base approach. The third patient underwent endovascular stenting.

Results:

There were no cerebrovascular complications post-operatively. Both open repair patients experienced temporary lower cranial nerve palsies. One required facial nerve grafting. All patients had patent grafts at follow up. The stent graft patient had a small endoleak at six months.

Conclusion:

Endovascular and open approaches both have advantages and disadvantages. Treatment needs to be tailored to the lesion and the patient. An open surgical approach is difficult but well established. Endovascular treatment of these lesions is a relatively recent technique, and new cases need to be continually reported with a view to attaining long-term data.
Cyrene: A Survey of Certain Rock-Cut Features to the South of the Sanctuary of Apollo
Authors: Wright G. R. H.
Published: August 2016

Basic Structure: A broad flight of twenty-one steps leads up from the south-west angle of the Temple of Apollo to a partially paved court immediately in front of the lower face of the scarp. This is given a quadrilateral delimitation by the angular revetment of an irregularity in the scarp to the west, and by the monumental water tank to the east of the entrance to the grotto. The entrance was hewn in the cliff face in the form of three arches (now much destroyed), and was revetted with large well-draughted limestone blocks. Of these, only the lower two courses are now in situ, but individual blocks of the upper courses have been collected and amongst them are those with crowning mouldings and one bearing the fragment of a Greek inscription (height:of letters, 25 cm. approximately).

The interior of the grotto consists basically of a central oblong depression, paved and cemented, surrounded on the two sides and the back by a raised staging—thus giving rise to the term of reference ‘TRICLINIUM’—while between the staging and the walls are the tanks and channels: associated with the water supply and drainage.

Considered longitudinally, the interior may be divided into three entities. The first extends from the entrance to a pair of rock-hewn columns bearing rude inscriptions. Immediately above this compartment lay the terrace of an ancient rock-cut path and its collapse has breached the path and totally unroofed this section of the grotto.
Artemis Orthia: Some Additions and a Correction
Authors: Dawkins R. M.
Published: August 2016

By the kind permission of Professor Sieveking and of Mr. A. M. Woodward, who has informed me of the existence of these objects and has sent me the photographs here reproduced and the necessary notes, I am able to publish a few small objects in ivory, bone, and bronze which were acquired in 1911 by the Museum der Kleinkunst in Munich. A summary account of them by Professor Sieveking has already appeared in the Münchner Jahrb. der bildender Kunst, 1912, p. 73. The channel by which they reached Munich is naturally obscure, but there can be no doubt that they were found at the Orthia sanctuary at Sparta, the excavation of which was finished in 1910, the year before the objects were acquired at Munich. Even before this information reached me, I had learned by a curious accident that there had, in fact, been some small pilfering from the Orthia excavation by one of our workmen.
Body Attitudes and Eating Behaviours of Female Malay Students Studying in Australia
Authors: McDowell Andrew J. , Bond Malcolm J.
Published: August 2016

The extent to which 113 adolescent Malay women studying in Australia expressed the desire to lose weight was examined, as was the degree to which this desire reflected a genuine need to lose weight. Comparisons between participants who expressed the desire to either lose weight, stay at their current weight, or gain weight were made using both attitudinal and behavioural components of body image. An in-depth analysis of those who wished to lose weight was also undertaken. There was evidence that negative body attitudes were in excess of what actual body weight might dictate. However, these negative attitudes were not found to be consistently predictive of dysfunctional eating behaviours. Results were interpreted with reference to the potential influence of Westernisation in countries in the South Pacific region, and in particular how attitudes and behaviours are influenced by this process.
Effects of Gender and Individualism-Collectivism on Directness of Refusal
Authors: Ang Rebecca P. , Kuo Eddie C.
Published: August 2016

The effects of gender and individualism-collectivism on directness of refusal were examined on a Singapore sample. A 2 × 2 (Gender X Individualism-Collectivism) ANOVA revealed a significant interaction effect between gender and cultural orientation. Specifically, male individualists preferred more direct refusal strategies and male collectivists preferred more indirect refusal strategies compared to both female individualists and collectivists. Implications of the results and the limitations of the study were discussed.
Intracultural variations in the concept of self: A comparison of educated and less educated Filipino women
Authors: Edman Jeanne L. , Kameoka Velma A.
Published: August 2016

This study examined the concept of self among 48 educated and 50 less educated Filipino women. Participants completed the Concept of Self Scale that contained 12 items describing collectivistic and individualistic perspectives on self. Educated women rated themselves as significantly higher than less educated women on two individualistic descriptors, while the less educated rated themselves significantly higher on seven collectivistic descriptors. Low SES women rated themselves higher on collectivistic descriptors than middle SES women. These findings are discussed in relation to the growing literature on cultural perspectives on the self and suggest a need to examine factors that may explain intracultural differences in the concept of self.
Stress, anxiety and other emotions in Japanese modern dance performance
Authors: Kerr J. H. , Kawaguchi C. , Oiwa M. , Terayama Y. , Zukawa A.
Published: August 2016

Two reversal theory-based studies investigated dancers' psychological experience at final rehearsal, and at three performances in an annual competition. In Study 1, 23 Japanese modern dance specialists completed the Tension and Effort Stress Inventory immediately before and after performance. Pre-study expectations that dancers would experience higher levels of unpleasant emotions (including performance anxiety or stage fright) and stress pre-competition than pre-final rehearsal were not confirmed. Dancers experienced significantly higher levels of unpleasant emotions before final rehearsal than before competition. Also contrary to expectations, competing was found not to be more stressful and not to require greater efforts to cope, than rehearsing. Study 2 set out to investigate dancers' basic motives for dancing and to show whether the anxiety-to-excitement reversal phenomena could be discerned during dance performance. Using the same experimental procedure as Study 1, a similar group of 15 dancers completed a dance performance experience questionnaire. The results indicated that, for the majority of dancers, the primary reason for dancing was either the paratelic, telic, arousal-seeking, or alloic-sympathy meta-motivational categories, and that many dancers experienced anxiety to excitement reversals.
Traditional dispute resolution in Micronesia
Authors: Wolff Patrick M. , Braman O. Randall
Published: August 2016

Traditional approaches to dispute resolution in Micronesia offer elements of reconciliation that are practical and essential for maintaining peaceful relationships on a small island. These elements include family involvement, ritualistic processes, symbolism, mediation, and restitution. Using information gathered through interviews and an observation of a simulation, and by reviewing literature related to cultural differences in general, this paper introduces these elements, describes their application in real life and ceremonial events, and discusses theoretical connections with the cultural dimension of individualism and collectivism. In conclusion, the authors encourage a heightened awareness, further research, and continued practice of traditional Micronesian approaches to dispute resolution.
Ability levels, mental health, and attitudes-to-work of the chronic long-term unemployed
Authors: Creed Peter A. , Poulton Meaghan A.
Published: August 2016

An emerging unemployment issue has been the growing number of job seekers who have been out of work for very long periods of time. Those who have been unemployed for 5 years or more, the chronic long-term unemployed (CLTU), are the subject of this research. This paper reports on the results of an assessment of 47 CLTU job seekers undertaken as part of a strategy aimed at identifying needs and generating return-to-work strategies for this group. Variables investigated were general ability (Standard Progressive Matrices, de Lemos, 1989), literacy (ACER Applied Reading Test, van den Berg & Woff, 1990), mental health (General Health Questionnaire, Goldberg, 1978; Symptom Checklist-90-R, Derogatis, 1983; State of Anxiety and Depression Scale, Bedford, Foulds & Sheffield, 1976) and work commitment. The CLTU differed from the general population on intellectual and reading ability by being over-represented in the lower ranges. The group reported mental health levels poorer than non-patient normative samples, but above levels of psychiatric in- or out-patients. Despite this, the CLTU reported high levels of work commitment. These initial findings point to the special needs of the CLTU. Implications for policy makers and those working with the unemployed are highlighted.
The classification of Oceanic languages
Authors: Bowden John
Published: August 2016

This paper surveys the literature regarding the linguistic subgrouping and historical affiliations of languages within the Oceanic subgroup of the Austronesian language family. It provides an overview of the evidence for the Oceanic subgroup and its external affiliations, as well as an overview of the internal relationships between languages of the family. It explores questions that have been settled to the satisfaction of most people working within the field, and identifies outstanding issues still of importance to practitioners in the area. A final section discusses a range of literature which surveys aspects of Oceanic linguistics apart from its subgrouping.
Malay: A short history
Authors: Adelaar K. Alexander
Published: August 2016

This article follows the development of Malay from prehistorical times to the present. After a brief overview of the variety of languages in Southeast Asia and Oceania, the position of Malay within the Austronesian language family is discussed as well as the Malay homeland. The history of Malay is followed throughout its most important stages, from the period of the oldest written evidence in the late 7th century AD to the age of the Malaccan sultanate in the 15th-16th centuries, the colonial period in which Malay became the most important language in all domains of public life except in the highest echelons, and the present post-independence period in which Malay has become the national language in four states of Southeast Asia. Attention is also given to sociolinguistic differentiation, to foreign influences, to the engineering planning and manipulation of Malay in recent times and to its role as a vehicle for the spread of several religions and foreign (Indian, Mid-eastern, European) cultural influences.