The Cultural Construction of the Maine Sporting Camps

Maine sporting camps were a cultural and social phenomenon of the urban upper and middle class. They originated in Maine in the late 1870s and early 1880s and reached their zenith around the turn of the century with over 160 in operation in eight of the sixteen counties in Maine in 1906. The period from 1880 until World War I can be considered the 'golden era' of the Maine sporting camps. After the war, with technological advancements such as the outboard motor, the proliferation of the automobile, and the introduction of a road system into rural Maine, the camps underwent significant change that warrants an entirely different cultural analysis. A number of elements came together to produce a cultural atmosphere permissive of sporting camp creation in Maine. These include changing national views upon nature, health, sport and the leisure time in which to pursue them. In the late nineteenth century, with the rise of large industrially based cities, overcrowding fostered crime and disease. An upper and middle class emerged that desired escape and separation from the lower classes. Maine was chosen for such an escape because it offered, through sporting camps, a chance to "get back to nature," by pursuing the healthful activities of hunting and fishing. At the same time these urban sportsmen and sportswomen distinguished themselves on the social Hierarchical scale from the rural inhabitants. What happened in rural Maine during the period between 1880 and World War I was the introduction of a new cultural order on the landscape. Coming primarily from urban centers on the East Coast of the United States were men, women and children who looked to Maine for vacations. These vacations were designed to put them in touch with nature by pursuing healthful activities, especially those of fishing and hunting. Coming from an environment that emphasized social standing, they ensured that these trips would perpetuate this hierarchy. They experienced nature through the Maine sporting camps, which provided them with the services and skills necessary to experience it while enjoying a degree of luxury that they were accustomed to in the urban world. The Maine sporting camps were a cultural manifestation of the urban upper and middle class, the groups that the camps were established to serve. Despite this the camps did not represent a structural duplication of urban society. Instead, the camps represented a cultural construction that was produced by interaction between members of two different conceptual and physical worlds, the blending of which, on a social level, was determined by urban mentality and rural knowledge. In the production of a cultural world meaningful to the clients, the rural world of the Maine woods was altered to meet their needs. It was not a one-sided process, however, as the clients were forced to acknowledge the importance of the rural inhabitants on the basis of their value to the clients.

The Adequacy of Health Care Services for the Elderly in China

This study examines the adequacy of health care services for the elderly in China, specifically focusing on the influence of location, method of payment, living situation, and financial status. The study finds that rural residents, respondents living alone and respondents unable to meet all of their daily costs have a lower probability of reporting the availability of adequate health care. It also investigates the reasons why elderly respondents do not visit the hospital when it is necessary, concluding that financial and distance constraints are main deterrents. Finally, changes in the reported adequacy of health care over time are taken into consideration, and are found to follow a likely pattern given the history of the health care system in China. This is an important investigation given the historical background of health care in China, the current cost problems facing residents, and, consequently, the policy changes that will need to be implemented by the Chinese government in the near future.

The Determinants of Recovery Rates on Defaulted Corporate Securities: Why do Fallen Angels recover more than Original High Yield Issues?

Regression analysis has shown that recovery rates are determined by a variety of conditions at the time of default. These conditions can be broken into five major categories: (1) a security's seniority within the capital structure of the defaulting firm, (2) the type of default event, (3) firm-specific factors, (4) industry-specific factors, and (5) macroeconomic factors. Expectations of these inputs determine the expected recovery rate if default were to occur, thereby determining credit ratings and security prices. Although it is widely understood how recovery rate estimates influence credit rating assignments (the higher the expected recovery rate, the higher the assigned credit rating), no research, to the best of my knowledge, has investigated the reasons why higher rated securities recover more than lower rated securities in the event of default. Specifically, this paper will empirically investigate why securities originally rated investment grade, fallen angels, recover more than securities originally rated high yield in the event of default.