The revenge of the market on the rentiers why neo-liberal reports of the end of history turned out to be premature

Starting from the perspective of heterodox Keynesian-Minskyian-Kindlebergian financial economics, this paper begins by highlighting a number of mechanisms that contributed to the current financial crisis. These include excess liquidity, income polarisation, conflicts between financial and productive capital, lack of intelligent regulation, asymmetric information, principal-agent dilemmas and bounded rationalities. However, the paper then proceeds to argue that perhaps more than ever the ‘macroeconomics’ that led to this crisis only makes analytical sense if examined within the framework of the political settlements and distributional outcomes in which it had operated. Taking the perspective of critical social theories the paper concludes that, ultimately, the current financial crisis is the outcome of something much more systemic, namely an attempt to use neo-liberalism (or, in US terms, neo-conservatism) as a new technology of power to help transform capitalism into a rentiers’ delight. And in particular, into a system without much ‘compulsion’ on big business; i.e., one that imposes only minimal pressures on big agents to engage in competitive struggles in the real economy (while inflicting exactly the opposite fate on workers and small firms). A key component in the effectiveness of this new technology of power was its ability to transform the state into a major facilitator of the ever-increasing rent-seeking practices of oligopolistic capital. The architects of this experiment include some capitalist groups (in particular rentiers from the financial sector as well as capitalists from the ‘mature’ and most polluting industries of the preceding techno-economic paradigm), some political groups, as well as intellectual networks with their allies – including most economists and the ‘new’ left. Although rentiers did succeed in their attempt to get rid of practically all fetters on their greed, in the end the crisis materialised when ‘markets’ took their inevitable revenge on the rentiers by calling their (blatant) bluff.

Análise da sobre-reação e sub-reação nos ativos de primeira e segunda lina do mercado acionário brasileiro

The Behavioral Finance develop as it is perceived anomalies in these markets efficient. This fields of study can be grouped into three major groups: heuristic bias, tying the shape and inefficient markets. The present study focuses on issues concerning the heuristics of representativeness and anchoring. This study aimed to identify the then under-reaction and over-reaction, as well as the existence of symmetry in the active first and second line of the Brazilian stock market. For this, it will be use the Fuzzy Logic and the indicators that classify groups studied from the Discriminant Analysis. The highest present, indicator in the period studied, was the Liabilities / Equity, demonstrating the importance of the moment to discriminate the assets to be considered "winners" and "losers." Note that in the MLCX biases over-reaction is concentrated in the period of financial crisis, and in the remaining periods of statistically significant biases, are obtained by sub-reactions. The latter would be in times of moderate levels of uncertainty. In the Small Caps the behavioral responses in 2005 and 2007 occur in reverse to those observed in the Mid-Large Cap. Now in times of crisis would have a marked conservatism while near the end of trading on the Bovespa speaker, accompanied by an increase of negotiations, there is an overreaction by investors. The other heuristics in SMLL occurred at the end of the period studied, this being a under-reaction and the other a over-reaction and the second occurring in a period of financial-economic more positive than the first. As regards the under / over-reactivity in both types, there is detected a predominance of either, which probably be different in the context in MLCX without crisis. For the period in which such phenomena occur in a statistically significant to note that, in most cases, such phenomena occur during the periods for MLCX while in SMLL not only biases are less present as there is no concentration of these at any time . Given the above, it is believed that while detecting the presence of bias behavior at certain times, these do not tend to appear to a specific type or heuristics and while there were some indications of a seasonal pattern in Mid- Large Caps, the same behavior does not seem to be repeated in Small Caps. The tests would then suggest that momentary failures in the Efficient Market Hypothesis when tested in semistrong form as stated by Behavioral Finance. This result confirms the theory by stating that not only rationality, but also human irrationality, is limited because it would act rationally in many circumstances

Mapeamento cromossômico de genes ribossomais em espécies estuarinas da família Gerreidae Identificação de uniformidade cariotípica e sua empregabilidade com fins biotecnológicos - REPROGEN

Perciformes are dominant in the marine environment, characterized as the largest and most diverse fish group. Some families, as Gerreidae, popularly known as silver jennies, carapebas, or mojarras have a high economic potential to marine fish farming, natural explotation and game fishing. Genetic information of these species are of fundamental importance for their management and production. Despite exist over 13,000 marine fish species described, only 2% were cytogenetically analyzed and less than 1% have some reproductive characteristics known. Induced breeding, cytogenetic characterization and cryopreservation of gametes, represent important areas in applied fish studies. In this project cytogenetic analyzes were performed to acess genetic aspects of Gerreidae species, distributed in coastal and estuarine regions of Northeast Brazil. Different methods for identifying chromosomal regions were employed using conventional techniques (Ag-NORs, C-banding), staining with base-specific fluorochromes (DAPI-CMA3), and physical mapping of ribosomal genes 18S and 5S rDNA, through hybridization in situ with fluorescent probes (FISH). The six species analyzed showed remarkable chromosome conservatism. The 18S and 5S ribosomal genes when analyzed in phylogenetic perspective demonstrate varied evolutionary dynamics, suggesting ocurrence of stasis process in some groups and greater dynamism in others. Double FISH with 18S and 5S probes showed both how efficient cytotaxonomic markers in the homogeneous karyotypes of this group of species. The karyotypic pattern identified in addition to the evolutionary aspects of karyotype, are suggestive of existence of low potential of post-zygotic barrier, prompting further research to prospect for artificial interspecific hybridization of these species of commercial importance

Estrutura da população de Coleodactylus natalensis Freire, 1999 (Squamata: Sphaerodactylidae) no Parque Estadual Dunas de Natal, Rio Grande do Norte, Brasil

Coleodactylus natalensis Freire, 1999, an endemic species of Atlantic Forest fragments around the Natal municipality, Rio Grande do Norte State, Brazil, has as type locality the Parque Estadual Dunas de Natal (05º48 S to 05º53 S and 35º09 W to 35º12 W), one of the largest restinga (herb and shrub association on sand dunes along the Brazilian coastline) associate fragment, surrounded by urban zone, placed on setentrional Atlantic Forest limits. We made estimates on populational density, spatial distribution, habitat and microhabitat preferences and feeding ecological aspects like sazonal and sexual variations on diet, prey electivities and niche breadth. We randomly sampled ninety-six 50m2 quadrants in each of the four habitats identified in the study area. Were collected 49 specimens and their stomach contents were analyzed; prey items found were correlated with leaf-litter invertebrates from habitat samples. We found a 98,5 ± 75,5 individuals/ha density, in grouped distribution pattern on densest habitats and random distribution on others habitats. This species lives mostly on leaf-litter in forest habitats, in higher humidity points, with lower temperatures, deeper leaf litter and lower sea level elevations than the randomly chosen points in the study area. Isopoda and Aranae were the most important prey categories in numeric, frequency and volumetric terms. Niche breadth has an intermediate value and was variable in sexual and in habitat terms. There was no correlation between morfometric measures and prey size on diet. The C. natalensis population studied seems to be diet opportunist, although selects larger prey items. The Parque Estadual das Dunas do Natal has several indications of anthropic pressure from the surrounding urban area that may affects the local C. natalensis population. Thus, the fragility of this species calls for urgent conservation efforts

Ecologia alimentar de aves insetívoras de um fragmento de mata decídua do extremo norte da Mata Atlântica

The diet study of birds has contributed historically as a model for use to understanding ecological patterns and strategies used by several other groups of vertebrates, which are observed in season patterns and temporal availability of resources, and other. This study has as objective generate information concerning the diet of insectivorous birds during rainy season and dry season, as well as analyze Index food importance, niche overlap, niche breadth, electivity, and seasonal availability of prey. The study was conducted in a fragment of about 270 ha (center coordinates and 5 º 53'S 35 ° 23'W). The sampling of birds occurred between March 2008 and December 2009 in three pre-established trails. Catches of birds were performed using 10 mist nets placed in line, where each trails was sampled once a month. Samples of pellets were obtained by means of tartar emetic. Sampling of availability of prey occurred between February 2009 to December 2009. We used two methods of sampling (pitfall traps and Shake cloths). We captured 269 individuals of 21 species of insectivorous birds. We collected 4116 invertebrates of which 3259 in the rainy season and 857 in the dry season. We obtained 174 samples stomach, where 10 species were exclusively insectivorous diet, nine fed on insect/plant material, an insect/plant material/vertebrate and one for insect/vertebrate. During the rainy season was observing difference between the consumption of items with higher food importance. The Coleoptera was item with higher food importance (73%), followed by Formicidae (7%) and Araneae (6%). During the dry season, no difference was found difference between the consumption of items with higher food importance. The Coleoptera was item with higher food importance (34%), followed by seeds (29%) and Formicidae (18%). The highest levels of niche overlap occurred during the rainy season, while the dry season was characterized by high levels of niche 11 segregation. This indicates that the local insectivorous birds community was structured differently between periods. No was found correlation between the values of niche breadth to the mean weight of the body size. We observed seasonal patterns in prey availability, with the peak availability of invertebrates observed seasonal patterns in rainy season. The insectivorous birds selected the same species richness during both periods, showing a specialized diet. Thamnophilus pelzelni was the only species that had their diet influenced by seasonality. Regarding the overall diet of insectivorous birds, observed a high consumption of prey, whose food availability caused the birds could invest and increase their food resources

Ecologia trófica em uma taxocenose de anfíbios: estrutura, filogenia e especialização individual

Historically, ever since the pre-Darwinian naturalists interspecific competition was considered the main force responsible for structuring ecological communities. This interpretation lost strength in the late 70s and throughout the 80s giving room for other views, which consider other factors such as predation, parasitism and the phylogenetic inertia more important. Studies on changes in the trophic niche of a species are still uncommon in general and especially in amphibians. Species considered generalist might actually be a group of individual specialists, or individuals that specialize in a particular category of prey during a period of scarcity of resources, thus reducing intraspecific competition. This work studied the community structure of litter amphibians and trophic variation along the dry and rainy seasons in a population of Leptodactylus macrosternum. Sixteen-litter frog species were studied for their diet. Two central assumptions were tested: 1a) if the community is structured in the niche trophic level, and 1b) if there is a significant difference in the use of food resources by different species (i.e. if the community is structured), the observed structure is the result of ecological interactions or just the current phylogenetic inertia of species. Finally, 2) if there is variation in food resource use between seasons for L. macrosternum. The community showed a structure with respect to the use of food resources, and this structure persisted after taking into account the phylogenetic relationships among species. The diet of Leptodactylus macrosternum varied with the seasons, with a significant degree of individual specialization for the dry season. Patterns of a local community are important to understand its dynamics, and this may play a role in larger- scale processes. Therefore, the studies in community ecology are fundamental to understand and eventually restoring degraded areas

Dimensionamento e sobreposição de nichos dos portunídeos (Decapoda, Brachyura), na Enseada da Fortaleza, Ubatuba, São Paulo, Brasil

The niche breadth of the Portunidae and their overlap on the subtidal sediments of Fortaleza bay, Ubatuba (São Paulo) was analyzed. Samples were made monthly from November/1988 to October/1989, inseven areas of the bay using a shrimp fishery boat equipped with two otter-trawls. Each area was characterized based on environmental factors such as depth, temperature, salinity, dissolved oxygen, organic matter and granulometric composition of the sediment. The number of individuais of each species was registered to each area (resource). Levins's standardized measure (BA) and niche percentage were calculated. Five species of swimming crabs were recorded in this study: Callinectes ornatus Ordway, 1863, Arenaeus cribrarius (Lamarck, 1818), Portunus spinimanus Latreille, 1819, Callinectes danae Smith, 1869 and Portunus spinicarpus (Stimpson, 1871). The widest ecological niche occurred to C. ornatus, present in all sampled areas (generalist species). Such fact can be related to high sediment tolerance when it is compared to P. spinimanus (especialist species) which was limited to the areas with coarse granulometric fractions. Highest niche overlap was verified between C. danae and A. cribrarius may be due to greater salinity tolerance of these species. The low occurrence of P. spinicarpus and its reduced niche size in Fortaleza Bay are due to association of this species to cold water currents (ACAS) more evidente in smaler depths during summer months. One future evaluation of the portunid diet can be useful to complement informations about this important aspect of the marine ecology.

A trajetória dos movimentos socioambientais em Sergipe : personagens, instituições e estratégias de comunicação

The research aimed to study the emergence, role, and the possibilities of environmental movements in Sergipe, running through an analysis of the period between 1983 and 2011. This goal has been guided by the core issue of research, which was to analyze the relationship between the mission, structure and action of environmental organizations in Sergipe. The research arose from the need to map and critically evaluate the environmental movement in Sergipe. The methodological procedures focused on the literature search, survey papers in Sergipe a time gap of 28 years, detailed analysis of nine "movements" and selected in-depth interviews, semi-structured interviews with dozens of social actors involved in the area. In conclusion, we observed that environmentalism in Sergipe, from its inception, was associated with recovery of consciousness regarding the environment, to combat local problems of degradation, and the search for legitimacy of public opinion. Although the environmental movement have been, at times, the attention of mass media, the movement failed to leave the niche and achieve a more representative portion of society. You can still see the deep relationship between the profile of environmental leaders, capital strength and the practical results of the environmental actions and finally, it was observed that the action of the movements has much stronger bond with the relationship of the organization and its main leaders with the other "environmentalist," than with the structure and mission of the institution

Diversidade de cefalópodes e o seu papel no nicho trófico de seus principais predadores nos Arquipélagos de Fernando de Noronha e São Pedro e São Paulo

This study aims, to characterize the diversity of cephalopods by analyzing the stomach contents of fishes caught in the islands of St. Peter and St. Paul (ASPSP) and Fernando de Noronha (AFN). Also, verify the participation of cephalopods in the diet of their main predators. A total of 723 stomachs were collected, from 8 species of fish, caught by the fishery, 471 stomachs were from ASPSP and 252 were from the AFN. It was recorded the occurrence of food items (fish, cephalopods and crustaceans) and the cephalopods were identified to the lowest taxa possible, according to specialized literature. The Ommastrephidae family represented 84.46% of occurrence in the ASPSP and 63.48% in the AFN, confirming the importance of this family in the area studied and also in the diet of their predators. Among the species with greatest occurrence Ornitoteuthis antillarum was the most representative in both regions. This species had an average mantle length of 54.25 mm, thus demonstrating that the majority of this population is in the juvenile stage of development. The smallest species found was Argonauta nodosa with a mantle length of 4.06 mm and the largest was Ommastrephes bartrami, with 223.33 mm. In the AFN, the species richness (d) was 2.318, the diversity index (H ') was 1.454 and the measure of evenness (J) was 0.585. In the ASPSP, the species richness (d) was 2.66, the Shannon diversity index (H ') was 1.013 and the measure of evenness (J) was 0.373. AFN has a greater cephalopod diversity than ASPSP, confirming the pattern suggested by the Theory of Island Biogeography. Among the occurrence of prey items for all predators, the cephalopods are secondary preys. The most important cephalopod species in the diet of Thunnus albacares and Acantocybium solandri was Ornithoteuthis antillarum. These predators have different niche width the diet of Thunnus albacares is more specialized, but they have an overlap of 84.684% in the trophic niche, suggesting that in the ASPSP these two species may use similar niches

Padrões distintos de congruência climática em duas espécies invasoras de prosopis em zonas semi-áridas da América do Sul

Based on climate data and occurrence records, ecological niche models (ENM) are an important opportunity to identify areas at risk or vulnerable to biological invasion. These models are based on the assumption that there is a match between the climatic characteristic of native and invaded regions predicting the potential distribution of exotic species. Using new methods to measure niche overlap, we chose two exotic species fairly common in semi-arid regions of South America, Prosopis juliflora (Sw.) D.C. and Prosopis pallida (H. ; B. ex. Willd) HBK, to test the climate matching hypothesis. Our results indicate that both species occur with little niche overlap in the native region while the inverse pattern is observed in the invaded region on South America, where both species occur with high climatic overlap. Maybe some non-climate factor act limiting the spread of P. pallida on the native range. We believe that a founder effect can explain these similarities between species niche in the invaded region once the seeds planted in Brazil came from a small region on the Native range (Piura in Peru), where both species occur sympatric. Our hypothesis of a founder effect may be evident when we look at the differences between the predictions of the models built in the native and invaded ranges. Furthermore, our results indicate that P. juliflora shows high levels of climate matching between native and invaded ranges. However, conclusions about climate matching of P. pallida should be taken with caution. Our models based on climatic variables provide multiple locations suitable for occurrence of both species in regions where they still don t have occurrence records, including places of high interest for conservation.

A diversidade de lagartos na Caatinga é mediada pelos térmitas?

Intending to explain the extraordinary lizard coexistence levels found in Australian deserts, Morton & James (1988) figured out a hypothesis which defends that the termite diversity would bring about lizard radiation. This study aims to verify the validation of that hypothesis in Caatinga lizard assemblages. This study also objectives verifying if the termite defense mechanisms influence their consuming levels by lizards and if this pattern differs between different lizard lineages. Termites were collected using a standardized sampling protocol of termites. Besides using haphazard sampling, we collect lizards with 108 pitfall traps in each area. Intending to check the linkage between the termite and lizard assemblages, the lizard stomach contents were analyzed and then a canonical correspondence analysis was performed. The presence of nonrandom patterns of diet overlap among the lizard species was also examined. Aiming to check if the defense mechanisms of termite influence their consuming pattern by lizards it was performed a laboratory experiment where termite with different defense mechanisms were offered to lizards of two different lineages. We verified that lizard assemblages do not consume termites according to termite abundance in ecosystems. Furthermore, mean niche overlap lizard species did not differ significantly from that expected by chance. We found that termite chemical defense mechanism does influence the termite s pattern consuming by lizards. These results do not corroborate premises which support Morton & James hypothesis (1988) and point out that lizard do not chose termites based on their abundance, but, trying to avoid consuming termites which exhibit chemical defense mechanisms. This defense mechanism, however, may not be the only explanation to patterns of termite s consuming by lizards.