Integration between the London and New York Stock Exchanges, 1825-1925

The integration between the London and New York Stock Exchanges is analyzed during the era when they were still developing as asset markets. The domestic securities on both exchanges showed little sustained integration, even when controlling for the different characteristics of stocks, implying that the pricing of securities in the US and UK were still being driven by local factors. However, there was considerable integration between New York and those listings on London which operated internationally. These results place a limit on the view that pre-World War I was the first era of globalization in terms of capital markets, and suggest that the listing of foreign securities may be one of the primary mechanisms driving asset market integration.

The differential effects of chlorpromazine and haloperidol on latent inhibition in healthy volunteers.

Latent inhibition (LI) is a measure of reduced learning about a stimulus to which there has been prior exposure without any consequence. It therefore requires a comparison between a pre-exposed (PE) and a non-pre-exposed (NPE) condition. Since, in animals, LI is disrupted by amphetamines and enhanced by antipsychotics, LI disruption has been proposed as a measure of the characteristic attentional deficit in schizophrenia: the inability to ignore irrelevant stimuli. The findings in humans are, however, inconsistent. In particular, a recent investigation suggested that since haloperidol disrupted LI in healthy volunteers, and LI was normal in non-medicated patients with schizophrenia, the previous findings in schizophrenic patients were entirely due to the negative effects of their medication on LI (Williams et al., 1998). We conducted two studies of antipsychotic drug effects on auditory LI using a within-subject, parallel group design in healthy volunteers. In the first of these, single doses of haloperidol (1 mg. i.v.) were compared with paroxetine (20 mg p.o.) and placebo, and in the second, chlorpromazine (100 mg p.o.) was compared with lorazepam (2 mg. p.o.) and placebo. Eye movements, neuropsychological test performance (spatial working memory (SWM), Tower of London and intra/extra dimensional shift, from the CANTAB test battery) and visual analogue rating scales, were also included as other measures of attention and frontal lobe function. Haloperidol was associated with a non-significant reduction in LI scores, and dysphoria/akathisia (Barnes Akathisia Rating Scale) in three-quarters of the subjects. The LI finding may be explained by increased distractibility which was indicated by an increase in antisaccade directional errors in this group. In contrast, LI was significantly increased by chlorpromazine but not by an equally sedative dose of lorazepam (both drugs causing marked decreases in peak saccadic velocity). Paroxetine had no effect on LI, eye movements or CANTAB neuropsychological test performance. Haloperidol was associated with impaired SWM, which correlated with the degree of dysphoria/akathisia, but no other drug effects on CANTAB measures were detected. We conclude that the effect of antipsychotics on LI is both modality and pharmacologically dependent and that further research using a wider range of antipsychotic compounds is necessary to clarify the cognitive effects of these drugs, and to determine whether there are important differences between them.

Sublime Lessons: Education and Ambivalence in War Exhibitions

This paper examines how experiences of the sublime are regulated in the war exhibitions of modern museums. Ambivalence is a key feature of the sublime because subjects are forced to negotiate simultaneous feelings of terror and awe in the face of something unrepresentable like war. This paper analyses how war exhibitions dispel ambivalence by resuscitating a Kantian sublime full of resolution, catharsis and transcendence. In this context, potentially destabilising encounters with horrific objects (e.g. guns, bombs, shrapnel) are neutralised by didactic 'Lessons of War' and celebratory narratives of victory. Using examples from the United States Holocaust Memorial Museum, the Imperial War Museum in London and the Smithsonian Institution, this paper illustrates how conventional war exhibitions reproduce a politics of consensus by carefully managing the experience of the sublime.

A 'Teague' and a 'True Briton': Charles Johnstone, Ireland, and Empire

Charles Johnstone's literary output - which included Chrysal: or, the Adventures of a Guinea (1760) and a series of novels between 1762 and 1781 prior to his departure for Calcutta in 1782 - features a marked geographical and historical preoccupation with empire. The trajectory of Johnstone's life from Carrigogunnell and Dublin in Ireland, to London, and finally to Calcutta, indicates the remarkable possibilities for self-transformation which empire from Ireland to India offered during the eighteenth century. This paper examines the significance of empire in Johnstone's oeuvre, and identifies for the first time a series of articles written by him in The Calcutta Gazette in 1785.