Capital 2.0 capital formation and legal risk in a new global economic order from fiat to exit: including case studies of the proposed transatlantic trade and investment partnership between the United States and the European Union and the financing relation between the United States and the People’s Republic of China

Following the intrinsically linked balance sheets in his Capital Formation Life Cycle, Lukas M. Stahl explains with his Triple A Model of Accounting, Allocation and Accountability the stages of the Capital Formation process from FIAT to EXIT. Based on the theoretical foundations of legal risk laid by the International Bar Association with the help of Roger McCormick and legal scholars such as Joanna Benjamin, Matthew Whalley and Tobias Mahler, and founded on the basis of Wesley Hohfeld’s category theory of jural relations, Stahl develops his mutually exclusive Four Determinants of Legal Risk of Law, Lack of Right, Liability and Limitation. Those Four Determinants of Legal Risk allow us to apply, assess, and precisely describe the respective legal risk at all stages of the Capital Formation Life Cycle as demonstrated in case studies of nine industry verticals of the proposed and currently negotiated Transatlantic Trade and Investment Partnership between the United States of America and the European Union, TTIP, as well as in the case of the often cited financing relation between the United States and the People’s Republic of China. Having established the Four Determinants of Legal Risk and its application to the Capital Formation Life Cycle, Stahl then explores the theoretical foundations of capital formation, their historical basis in classical and neo-classical economics and its forefathers such as The Austrians around Eugen von Boehm-Bawerk, Ludwig von Mises and Friedrich von Hayek and most notably and controversial, Karl Marx, and their impact on today’s exponential expansion of capital formation. Starting off with the first pillar of his Triple A Model, Accounting, Stahl then moves on to explain the Three Factors of Capital Formation, Man, Machines and Money and shows how “value-added” is created with respect to the non-monetary capital factors of human resources and industrial production. Followed by a detailed analysis discussing the roles of the Three Actors of Monetary Capital Formation, Central Banks, Commercial Banks and Citizens Stahl readily dismisses a number of myths regarding the creation of money providing in-depth insight into the workings of monetary policy makers, their institutions and ultimate beneficiaries, the corporate and consumer citizens. In his second pillar, Allocation, Stahl continues his analysis of the balance sheets of the Capital Formation Life Cycle by discussing the role of The Five Key Accounts of Monetary Capital Formation, the Sovereign, Financial, Corporate, Private and International account of Monetary Capital Formation and the associated legal risks in the allocation of capital pursuant to his Four Determinants of Legal Risk. In his third pillar, Accountability, Stahl discusses the ever recurring Crisis-Reaction-Acceleration-Sequence-History, in short: CRASH, since the beginning of the millennium starting with the dot-com crash at the turn of the millennium, followed seven years later by the financial crisis of 2008 and the dislocations in the global economy we are facing another seven years later today in 2015 with several sordid debt restructurings under way and hundred thousands of refugees on the way caused by war and increasing inequality. Together with the regulatory reactions they have caused in the form of so-called landmark legislation such as the Sarbanes-Oxley Act of 2002, the Dodd-Frank Act of 2010, the JOBS Act of 2012 or the introduction of the Basel Accords, Basel II in 2004 and III in 2010, the European Financial Stability Facility of 2010, the European Stability Mechanism of 2012 and the European Banking Union of 2013, Stahl analyses the acceleration in size and scope of crises that appears to find often seemingly helpless bureaucratic responses, the inherent legal risks and the complete lack of accountability on part of those responsible. Stahl argues that the order of the day requires to address the root cause of the problems in the form of two fundamental design defects of our Global Economic Order, namely our monetary and judicial order. Inspired by a 1933 plan of nine University of Chicago economists abolishing the fractional reserve system, he proposes the introduction of Sovereign Money as a prerequisite to void misallocations by way of judicial order in the course of domestic and transnational insolvency proceedings including the restructuring of sovereign debt throughout the entire monetary system back to its origin without causing domino effects of banking collapses and failed financial institutions. In recognizing Austrian-American economist Schumpeter’s Concept of Creative Destruction, as a process of industrial mutation that incessantly revolutionizes the economic structure from within, incessantly destroying the old one, incessantly creating a new one, Stahl responds to Schumpeter’s economic chemotherapy with his Concept of Equitable Default mimicking an immunotherapy that strengthens the corpus economicus own immune system by providing for the judicial authority to terminate precisely those misallocations that have proven malignant causing default perusing the century old common law concept of equity that allows for the equitable reformation, rescission or restitution of contract by way of judicial order. Following a review of the proposed mechanisms of transnational dispute resolution and current court systems with transnational jurisdiction, Stahl advocates as a first step in order to complete the Capital Formation Life Cycle from FIAT, the creation of money by way of credit, to EXIT, the termination of money by way of judicial order, the institution of a Transatlantic Trade and Investment Court constituted by a panel of judges from the U.S. Court of International Trade and the European Court of Justice by following the model of the EFTA Court of the European Free Trade Association. Since the first time his proposal has been made public in June of 2014 after being discussed in academic circles since 2011, his or similar proposals have found numerous public supporters. Most notably, the former Vice President of the European Parliament, David Martin, has tabled an amendment in June 2015 in the course of the negotiations on TTIP calling for an independent judicial body and the Member of the European Commission, Cecilia Malmström, has presented her proposal of an International Investment Court on September 16, 2015. Stahl concludes, that for the first time in the history of our generation it appears that there is a real opportunity for reform of our Global Economic Order by curing the two fundamental design defects of our monetary order and judicial order with the abolition of the fractional reserve system and the introduction of Sovereign Money and the institution of a democratically elected Transatlantic Trade and Investment Court that commensurate with its jurisdiction extending to cases concerning the Transatlantic Trade and Investment Partnership may complete the Capital Formation Life Cycle resolving cases of default with the transnational judicial authority for terminal resolution of misallocations in a New Global Economic Order without the ensuing dangers of systemic collapse from FIAT to EXIT.

Two Roads to Public Sociology

Nira Yuval-Davis , an Israeli dissident, has been a long-standing defender of human rights: a founder member of Women Against Fundamentalism, and the international research network of Women in Militarized Conflict Zones, a consultant to different divisions of the United Nations as well as to various NGOs, including Amnesty International. Known internationally for her research on gender, racism, and religious fundamentalism, her books include Racialized Boundaries , Gender and Nation , The Politics of Belonging , Women against Fundamentalism . She is Director of the Research Centre on Migration, Refugees and Belonging at the University of East London. In this essay she conducts an internal conversation with the renowned Israeli sociologist, now deceased, Baruch Kimmerling, on the different roads to public sociology.

Defensive realism and the Concert of Europe

Why do great powers expand? Offensive realist John Mearsheimer claims that states wage an eternal struggle for power, and that those strong enough to seek regional hegemony nearly always do. Mearsheimer's evidence, however, displays a selection bias. Examining four crises between 1814 and 1840, I show that the balance of power restrained Russia, Prussia and France. Yet all three also exercised self-restraint; Russia, in particular, passed up chances to bid for hegemony in 1815 and to topple Ottoman Turkey in 1829. Defensive realism gives a better account of the Concert of Europe, because it combines structural realism with non-realist theories of state preferences.

Sorological evaluation of commercial vaccines against enterotoxemia in goats.

Enterotoxemia in sheep and in goats is caused by the effects of the epsilon toxin of C/ostridium perfringens type D, being considered the main infectious cause of mortality in those animal species. The main prophylactic measures include adequate nutritional management and vaccination of ali animais using vaccines of high immunogenic power. Six commercial vaccines containing in its formulation the epsilon toxoid of C. perfringens type D were sorogically evaluated. Eighty four female goat kids, whose mothers had no previous vaccination history against clostridioses were used. They were divided into six groups of 14 animais each. The animais of the control group didn't receive any vaccine dose and the animais from the groups 1 to 5 received two vaccine doses, The first vaccine dose was applied at 45 days of life (day zero) and the second dose at 75 days (30 days after the first dose). Blood samples were collected from the goat kids at the days zero, 30, 60, 90, 120 and 150 after the beginning of the experiment, in order to evaluate the immunologic response. The Indirect ELlSA technique was used for the quantification of the antibodies against epsilon toxin in the samples of blood serum of the animais. In day zero, no animal presented titre considered protector. The largest number of animais considered protected was found at day 60, in response to the two initial doses of the vaccine (days O and 30, first and second doses, respectively). Only tive animaIs which received the vaccine 1 and one animal which received the vaccine 3 stayed wilh titres of antibodies considered up to 150 days after the first vaccine dose. Based on the results, it was concluded lhat the evaluated vaccines showed small amount of epsilon toxoid in the commercial formulations, a crucial fact for lhe low efficiency of. the vaccines. For commercial reasons, the vaccines against the clostridioses present versatile formulations, with several toxoid types, used for various animal species, which certainly contributed to reduce their effectiveness in preventing the iIInesses caused by the clostridia or their toxins.

Patterns of psychotropic prescribing and polypharmacy in older hospitalized patients in Ireland: the influence of dementia on prescribing

Neuropsychiatric Symptoms (NPS) are ubiquitous in dementia and are often treated pharmacologically. The objectives of this study were to describe the use of psychotropic, anti-cholinergic, and deliriogenic medications and to identify the prevalence of polypharmacy and psychotropic polypharmacy, among older hospitalized patients in Ireland, with and without dementia. All older patients (≥ 70 years old) that had elective or emergency admissions to six Irish study hospitals were eligible for inclusion in a longitudinal observational study. Of 676 eligible patients, 598 patients were recruited and diagnosed as having dementia, or not, by medical experts. These 598 patients were assessed for delirium, medication use, co-morbidity, functional ability, and nutritional status. We conducted a retrospective cross-sectional analysis of medication data on admission for 583/598 patients with complete medication data, and controlled for age, sex, and co-morbidity. Of 149 patients diagnosed with dementia, only 53 had a previous diagnosis. At hospital admission, 458/583 patients experienced polypharmacy (≥ 5 medications). People with dementia (PwD) were significantly more likely to be prescribed at least one psychotropic medication than patients without dementia (99/147 vs. 182/436; p < 0.001). PwD were also more likely to experience psychotropic polypharmacy (≥ two psychotropics) than those without dementia (54/147 vs. 61/436; p < 0.001). There were no significant differences in the prescribing patterns of anti-cholinergics (23/147 vs. 42/436; p = 0.18) or deliriogenics (79/147 vs. 235/436; p = 0.62). Polypharmacy and psychotropic drug use is highly prevalent in older Irish hospitalized patients, especially in PwD. Hospital admission presents an ideal time for medication reviews in PwD.

Degradación ambiental y conflictos armados: las conexiones

"La seguridad ambiental es un concepto complejo que puede ser analizado desde varios enfoques. La conexión entre degradación ambiental, escasez de recursos, poco desarrollo económico e inestabilidad política puede generar rápidamente conflictos llamados ambientales, terrorismo ecológico y guerras verdes. Sin embargo, en la mayoría de las investigaciones sobre degradación ambiental y conflictos armados no se tienen en cuenta los factores desarrollo económico y régimen político, pues se considera que los problemas ambientales pueden, por sí solos, conducir a situaciones conflictivas nacionales, regionales e internacionales. En este contexto, los propósitos de este artículo son plantear las diferentes tendencias ideológicas de la seguridad ambiental, definir el contenido y las causas de los conflictos ambientales y proponer un marco analítico complementario que incluya las variables políticas y económicas como generadoras de conflictos ambientales y de conflictos armados de alta intensidad. Al final, se propone una agenda de investigación en materia de seguridad ambiental para Colombia."

El papel de la cooperación sur-sur en materia de educación técnica en Haití después del terremoto del 2010: estudio de caso: Brasil y Ecuador (2010-2015)

El presente estudio de caso analiza el papel de la Cooperación Sur-Sur (CSS) proveída por Brasil y Ecuador en materia de Educación Técnica en Haití después del terremoto del 2010 hasta el año 2015. Bajo el entendido que la CSS busca intercambiar, por medio de proyectos, los conocimientos y técnicas en los cuales estos países tienen experiencia, una de las formas de cooperación que tienen Brasil y Ecuador frente a Haití está basada en brindar capacidades en materia de Educación Técnica, con el fin de incentivar el desarrollo del recurso humano en los diferentes sectores a los cuales ésta va dirigida. En ese sentido, se escogieron dichos países al ser dos de los que más aportaron de América del Sur mediante la Educación Técnica hacia Haití después del terremoto. De ésta forma queda demostrado que por medio del intercambio de conocimientos, se puede hacer una apuesta fundamental al desarrollo de un país, enseñando y capacitando a personal de áreas específicas, con el ánimo de aumentar las capacidades productivas.

Union strategies in representing ‘new’ workers : the comparative case of UK and Australian retail unions

This paper is a comparative exploratory study of the changing nature of employee voice through trade union representation in the retail industry in the UK and Australia. In both countries, the retail industry is a major employer and is one of the few private sector service industries with significant union membership (Griffin et al 2003). The relevant unions, the Distributive and Allied Workers Union (USDAW) and the Shop, Distributive and Allied Union (SDA), are the fourth largest and largest unions in the UK and Australia respectively. However, despite this seeming numerical strength in membership, the characteristics of the industry provide unique challenges for employee voice and representation. The significance of the study is that any extension of representation and organisation by unions in the retail sector is valuable socially and politically, given that retail workers are often categorised a s vulnerable, due to their low pay, the predominance of disadvantaged labour market groups such a s women and young people, workers’ atypical employment arrangements and, in the case of the UK, variable levels of union recognition which inhibit representation (Broadbridge 2002; Henley 2006; Lynch 2005; Roan & Diamond 2003; Reynolds et al 2005). In addition, specifically comparative projects have value in that they allow some variables relating to the ‘industry’ to be held constant, thus reducing the range of potential explanations of differences in union strategy. They also have value in that the research partners may be more likely to notice and problematise taken-for-granted aspects of practices in another country, thus bringing to the fore key features and potentially leading to theoretical innovation. Finally, such projects may assist in transnational diffusion of union strategy.

Comparing retail union strategy in a neoliberal context

Amongst the most vulnerable workers in a neoliberal world are retail employees. In many countries these low paid workers comprise around 10 per cent of the workforce. The retail labour market is highly feminised, in some countries quite youthful and often part time or in various forms of precarious employment. The industry and its unions have however rarely been studied by academics. A three-country research team (United Kingdom, Australia and New Zealand) is investigating retail union strategy across these Anglophone countries in order to determine how, and how effectively, unions are contributing to workplace justice for retail workers.

Words and Silences : The journal of the International Oral History Association

Words and Silences is the official on-line journal of the International Oral History Association. It is an internationally peer reviewed, high quality forum for oral historians from a wide range of disciplines and a means for the professional community to share projects and current trends of oral history from around the world. We are extremely pleased to release the first online issue of Word &Silences. This e-journal is the result of long standing discussion and debate about the best way to publish a quality bilingual oral history journal (including a blind peer reviewed section) as a viable solution to mounting difficulties associated with publishing in print. We have discovered that an online version is also not without its challenges and requires tremendous labor intensive dedication. We strongly encourage members to assist us with small review process tasks in the future, so that we can ensure the sustainability of an annual W&S publication for our members and beyond.

People living in hilly residential areas in metropolitan Perth have less diabetes : spurious association or important environmental determinant?

BACKGROUND: Variations in 'slope' (how steep or flat the ground is) may be good for health. As walking up hills is a physiologically vigorous physical activity and can contribute to weight control, greater neighbourhood slopes may provide a protective barrier to weight gain, and help prevent Type 2 diabetes onset. We explored whether living in 'hilly' neighbourhoods was associated with diabetes prevalence among the Australian adult population. METHODS: Participants ([greater than or equal to]25years; n=11,406) who completed the Western Australian Health and Wellbeing Surveillance System Survey (2003-2009) were asked whether or not they had medically-diagnosed diabetes. Geographic Information Systems (GIS) software was used to calculate a neighbourhood mean slope score, and other built environment measures at 1600m around each participant's home. Logistic regression models were used to predict the odds of self-reported diabetes after progressive adjustment for individual measures (i.e., age, sex), socioeconomic status (i.e., education, income), built environment, destinations, nutrition, and amount of walking. RESULTS: After full adjustment, the odds of self-reported diabetes was 0.72 (95% CI 0.55-0.95) and 0.52 (95% CI 0.39-0.69) for adults living in neighbourhoods with moderate and higher levels of slope, respectively, compared with adults living in neighbourhoods with the lowest levels of slope. The odds of having diabetes was 13% lower (odds ratio 0.87; 95% CI 0.80-0.94) for each increase of one percent in mean slope. CONCLUSIONS: Living in a hilly neighbourhood may be protective of diabetes onset or this finding is spurious. Nevertheless, the results are promising and have implications for future research and the practice of flattening land in new housing developments.