New Financial Elites, or Financial Dualism in Historical perspective? An Extended Reply to Folkman, Froud, Johal and Williams

This paper challenges the recent suggestion that a new financial elite has evolved which is able to capture substantial profit shares for itself. Specifically, it questions the assumption that new groups of financial intermediaries have increased in significance primarily because there is evidence that various types of financial speculators have played a similarly extensive role at several junctures of economic development. The paper then develops the alternative hypothesis that, rather than being a recent development, the rise of these financial intermediaries is a cyclical phenomenon which is linked to specific regimes of capital accumulation. The hypothesis is underpinned by historical data from the US National Income and Product Accounts for the period from 1930 to 2000, which suggest that the activities of `mainstream' financial intermediaries have been accompanied by the frequently countercyclical activities of a `speculative' sector of security and commodity brokers. Based on the combination of this qualitative and quantitative evidence, the paper concludes that the rise of a speculative financial sector is a potentially recurrent phenomenon which is linked to periods of economic restructuring and turmoil.

Flexible paleoclimate age-depth models using an autoregressive gamma process

Radiocarbon dating is routinely used in paleoecology to build chronolo- gies of lake and peat sediments, aiming at inferring a model that would relate the sediment depth with its age. We present a new approach for chronology building (called “Bacon”) that has received enthusiastic attention by paleoecologists. Our methodology is based on controlling core accumulation rates using a gamma autoregressive semiparametric model with an arbitrary number of subdivisions along the sediment. Using prior knowledge about accumulation rates is crucial and informative priors are routinely used. Since many sediment cores are currently analyzed, using different data sets and prior distributions, a robust (adaptive) MCMC is very useful. We use the t-walk (Christen and Fox, 2010), a self adjusting, robust MCMC sampling algorithm, that works acceptably well in many situations. Outliers are also addressed using a recent approach that considers a Student-t model for radiocarbon data. Two examples are presented here, that of a peat core and a core from a lake, and our results are compared with other approaches.

A 330-360 GHz spectral survey of G34.3+0.15 - III. The outer halo

We have undertaken a 330-360 GHz molecular line survey of the halo gas surrounding the hot core associated with G34.26+0.15. In contrast to our molecular line survey of the hot core itself, where 338 lines from at least 38 species were detected, only 18 lines from 9 species were detected in the halo. The lines are mainly single transitions of simple di atomic and triatomic molecules. Lower limits to their column densities have been evaluated by an LTE method. In the case of methanol, where four transitions were detected, the rotation temperature and column density have been evaluated by the rotation diagram technique. We have modified the previous depth-dependent chemical model developed in Paper II to calculate the column densities observed along a general line of sight drawn through the model cloud. The model is also extended to produce beam-averaged column densities for better comparison with those observed. We compare the model column densities with those observed and make recommendations for future depth-dependent chemical modelling of hot cores.

A 330-360 GHz spectral survey of G34.3+0.15 .2. Chemical modelling

We describe a detailed depth-and time-dependent model of the molecular cloud associated with the ultracompact H II region G 34.3+0.15. Previous work on observations of NH3 and CS indicates that the molecular cloud has three distinct physical components:- an ultracompact hot core, a compact hot core and an extended halo. We have used the physical parameters derived from these observations as input to our detailed chemical kinetic modelling. The results of the model calculations are discussed with reference to the different chemistries occuring in each component and are compared with abundances derived from our recent spectral line survey of G 34.3+0.15 (Paper I).

Transmission-Line Class-E Power Amplifier With Extended Maximum Operating Frequency

A novel Class-E power amplifier (PA) topology with transmission-line load network is presented in this brief. When compared with the classic Class-E topology, the new circuit can increase the maximum operating frequency up to 50% higher without trading the other Class-E figures of merit. Neither quarterwave line/massive radio-frequency choke for collector/drain biasing nor additional fundamental-frequency output matching circuit are needed in the proposed PA, thus resulting in a compact design. Closed-form formulations are derived and verified by simulations with practical design limitations carefully taken into consideration and good agreement achieved.

Direct Contact as a Moderator of Extended Contact Effects: Cross-Sectional and Longitudinal Impact on Outgroup Attitudes, Behavioral Intentions, and Attitude Certainty

Cross-group friendships (the most effective form of direct contact) and extended contact (i.e., knowing ingroup members who have outgroup friends) constitute two of the most important means of improving outgroup attitudes. Using cross-sectional and longitudinal samples from different intergroup contexts, this research demonstrates that extended contact is most effective when individuals live in segregated neighborhoods having only few, or no, direct friendships with outgroup members. Moreover, by including measures of attitudes and behavioral intentions the authors showed the broader impact of these forms of contact, and, by assessing attitude certainty as one dimension of attitude strength, they tested whether extended contact can lead not only to more positive but also to stronger outgroup orientations. Cross-sectional data showed that direct contact was more strongly related to attitude certainty than was extended contact, but longitudinal data showed both forms of contact affected attitude certainty in the long run.

Extended contact effects as a function of closeness of relationship with ingroup contacts

Using survey data from Catholics and Protestants in Northern Ireland (N = 428), the authors examined the effects of extended contact via different types of ingroup contacts (neighbors, work colleagues, friends, and family members) and tested whether closeness to ingroup contacts moderated the effects of extended contact on outgroup trust. Results demonstrated that extended contact effects varied as a function of the relationship to ingroup contacts, and that extended contact interacted with closeness ratings in predicting outgroup trust. Consistent with hypotheses, extended contacts via more intimate ingroup relationships (i.e., friends and family) were overall more strongly related to outgroup trust than extended contacts via less intimate ingroup relations (i.e., neighbors and work colleagues). Moreover, within each level of intimacy extended contact was related to outgroup trust only at high, and not at low, levels of rated closeness to ingroup contacts. The theoretical contributions, limitations and practical implications of these findings are discussed.

Optimal diet choice for large herbivores: an extended contingency model

1. A more general contingency model of optimal diet choice is developed, allowing for simultaneous searching and handling, which extends the theory to include grazing and browsing by large herbivores.</p><p>2. Foraging resolves into three modes: purely encounter-limited, purely handling-limited and mixed-process, in which either a handling-limited prey type is added to an encounter-limited diet, or the diet becomes handling-limited as it expands.</p><p>3. The purely encounter-limited diet is, in general, broader than that predicted by the conventional contingency model,</p><p>4. As the degree of simultaneity of searching and handling increases, the optimal diet expands to the point where it is handling-limited, at which point all inferior prey types are rejected,</p><p>5. Inclusion of a less profitable prey species is not necessarily independent of its encounter rate and the zero-one rule does not necessarily hold: some of the less profitable prey may be included in the optimal diet. This gives an optimal foraging explanation for herbivores' mixed diets.</p><p>6. Rules are shown for calculating the boundary between encounter-limited and handling-limited diets and for predicting the proportion of inferior prey to be included in a two-species diet,</p><p>7. The digestive rate model is modified to include simultaneous searching and handling, showing that the more they overlap, the more the predicted diet-breadth is likely to be reduced.</p>

A test of the extended intergroup contact hypothesis: The mediating role of intergroup anxiety, perceived ingroup and outgroup norms, and inclusion of the outgroup in the self

S. C. Wright, A. Aron, T. McLaughlin-Volpe, and S. A. Ropp (1997) proposed that the benefits associated with cross-group friendship might also stem from vicarious experiences of friendship. Extended contact was proposed to reduce prejudice by reducing intergroup anxiety, by generating perceptions of positive ingroup and outgroup norms regarding the other group, and through inclusion of the outgroup in the self. This article documents the first test of Wright et al.'s model, which used structural equation modeling among two independent samples in the context of South Asian-White relations in the United Kingdom. Supporting the model, all four variables mediated the relationship between extended contact and outgroup attitude, controlling for the effect of direct contact. A number of alternative models were ruled out, indicating that the four mediators operate concurrently rather than predicting one another.

Effects of aspirin plus extended-release dipyridamole versus clopidogrel and telmisartan on disability and cognitive function after recurrent stroke in patients with ischaemic stroke in the Prevention Regimen for Effectively Avoiding Second Strokes (PRoFESS) trial:a double-blind, active and placebo-controlled study

The treatment of ischaemic stroke with neuroprotective drugs has been unsuccessful, and whether these compounds can be used to reduce disability after recurrent stroke is unknown. The putative neuroprotective effects of antiplatelet compounds and the angiotensin II receptor antagonist telmisartan were investigated in the Prevention Regimen for Effectively Avoiding Second Strokes (PRoFESS) trial.