Other Side of This Life : Death, Value, and Social Being in Thomas Pynchon's Fiction

This dissertation analyzes the interrelationship between death, the conditions of (wo)man s social being, and the notion of value as it emerges in the fiction of the American novelist Thomas Pynchon (1937 ). Pynchon s present work includes six novels V. (1963), The Crying of Lot 49 (1966), Gravity s Rainbow (1973), Vineland (1990), Mason & Dixon (1997), Against the Day (2006) and several short stories. Death constitues a central thematic in Pynchon s work, and it emerges through recurrent questions of mortality, suicide, mass destruction, sacrifice, afterlife, entropy, the relationship between the animate and the inanimate, and the limits of representation. In Pynchon, death is never a mere biological given (or event); it is always determined within a certain historical, cultural, and ideological context. Throughout his work, Pynchon questions the strict ontological separation of life and death by showing the relationship between this separation and social power. Conceptual divisions also reflect the relationship between society and its others, and death becomes that through which lines of social demarcation are articulated. Determined as a conceptual and social "other side", death in Pynchon forms a challenge to modern culture, and makes an unexpected return: the dead return to haunt the living, the inanimate and the animate fuse, and technoscientific attempts at overcoming and controlling death result in its re-emergence in mass destruction and ecological damage. The questioning of the ontological line also affects the structuration of Pynchon's prose, where the recurrent narrated and narrative desire to reach the limits of representation is openly associated with death. Textualized, death appears in Pynchon's writing as a sudden rupture within the textual functioning, when the "other side", that is, the bare materiality of the signifier is foregrounded. In this study, Pynchon s cultural criticism and his poetics come together, and I analyze the subversive role of death in his fiction through Jean Baudrillard s genealogy of the modern notion of death from L échange symbolique et la mort (1976). Baudrillard sees an intrinsic bond between the social repression of death in modernity and the emergence of modern political economy, and in his analysis economy and language appear as parallel systems for generating value (exchange value/ sign-value). For Baudrillard, the modern notion of death as negativity in relation to the positivity of life, and the fact that death cannot be given a proper meaning, betray an antagonistic relation between death and the notion of value. As a mode of negativity (that is, non-value), death becomes a moment of rupture in relation to value-based thinking in short, rationalism. Through this rupture emerges a form of thinking Baudrillard labels the symbolic, characterized by ambivalence and the subversion of conceptual opposites.

Lähteiden lumoamat : Henry Biaudet, Liisi Karttunen ja suomalainen historiantutkimus Roomassa 1900-luvun alussa

Enchanted by Sources. Henry Biaudet, Liisi Karttunen and Finnish Historical Research in Rome in the Early Twentieth Century This study traces the scholarly endeavours of Henry Biaudet (1870 1915) and Liisi Karttunen (1880 1957) and "La mission historique finlandaise à Rome" which they founded in 1909. They are forgotten in Finnish historiography, but remain internationally renowned for their contribution to the nunciature studies. By investigating their historical work on the Counter- Reformation era, their roles in the scientific communities of Helsinki and Rome as well as the intersection of politics and science in their scholarly practices the study explores the nature of historical research in general at the turn of the twentieth century. The work covers fields such as historiography, university history and the political use of history. Methodologically the research is based on the analysis and contextualization of published and unpublished sources (e.g. correspondences, university records, scholarly publications and reviews in academic journals). Henry Biaudet criticized the previous research on the Nordic Counter-Reformation for its narrow national scope and sources. He sought out a new approach, including the use of sources in archives all over Europe and the inclusion of the Catholic viewpoint. Accordingly, Biaudet and Karttunen searched for records in archives in Southern Europe. Their unorthodox interpretations were denounced in Finland since the picture they gave of late sixteenth-century Sweden was too different from the national narrative. Moreover, Finnish national identity was firmly rooted in Protestantism, and questioning the benevolence of the Reformation and its main actors was considered as an attack not only against historical truth but also national values. The comparison between Biaudet s and Karttunen s arguments and the accepted narrative in Finland shows how traditional interpretations of the Nordic Reformation were influenced by the Lutheran ethos and European anticlerical rhetoric. Historians have recently paid substantial attention to the political use of history, usually focusing on politicized constructions of the national past. This study shows how research that met the criteria of modern historiography also served political purposes. Conducting research in an international community of historians and publishing ambitious scholarly studies that interested an international audience were ways to create a positive image of Finland abroad. These were not uniquely Finnish ideas but rather ideas shared by the international community of historians in Rome. In this context, scientific pursuits were given a clear political meaning. This enhances our understanding of nineteenth-century historiography being firmly rooted between science and politics.

Screening Cycles

We demonstrate how endogenous information acquisition in credit markets creates lending cycles when competing banks undertake their screening decisions in an uncoordinated way, thereby highlighting the role of intertemporal screening externalities induced by lending market competition as a structural source of instability. We show that uncoordinated screening behavior of competing banks may be not only the source of an important financial multiplier, but also an independent source of fluctuations inducing business cycles. The screening cycle mechanism is robust to generalizations along many dimensions such as the lending market structure, the lending rate determination and the imperfections in the screening technology.

Information Sharing in Banking: A Collusive Device?

We show that information sharing among banks may serve as a collusive device. An informational sharing agreement is an a-priori commitment to reduce informational asymmetries between banks in future lending. Hence, information sharing tends to increase the intensity of competition in future periods and, thus, reduces the value of informational rents in current competition. We contribute to the existing literature by emphasizing that a reduction in informational rents will also reduce the intensity of competition in the current period, thereby reducing competitive pressure in current credit markets. We provide a large class of economic environments, where a ban on information sharing would be strictly welfare-enhancing.

Evaluating the Predictability of the Volatility Smile Using Return Distributions

In this paper, we examine the predictability of observed volatility smiles in three major European index options markets, utilising the historical return distributions of the respective underlying assets. The analysis involves an application of the Black (1976) pricing model adjusted in accordance with the Jarrow-Rudd methodology as proposed in 1982. Thereby we adjust the expected future returns for the third and fourth central moments as these represent deviations from normality in the distributions of observed returns. Thus, they are considered one possible explanation to the existence of the smile. The obtained results indicate that the inclusion of the higher moments in the pricing model to some extent reduces the volatility smile, compared with the unadjusted Black-76 model. However, as the smile is partly a function of supply, demand, and liquidity, and as such intricate to model, this modification does not appear sufficient to fully capture the characteristics of the smile.

On the Importance of Mutual Fund Families in Emerging Markets

This study contributes to the mutual fund literature by looking at performance persistence on a fund family level, allowing for individual equity, bond and balanced funds to be included under single family umbrellas. The study is conducted on the emerging Finnish mutual fund market, an environment in which the importance of superior fund family teams is likely to be accentuated. Using both non–parametric and parametric tests we find robust evidence of performance persistence for the fund families. Persistence is particularly strong in the first half of the investigation period, which highlights the importance of fund families at early stages of market development.