In 1958, economist A. W. Phillips published an article describing what he observed to be the inverse relationship between inflation and unemployment; subsequently, the "Phillips curve" became a central concept in macroeconomic analysis and policymaking. But today's Phillips curve is not the same as the original one from fifty years ago; the economy, our understanding of price setting behavior, the determinants of inflation, and the role of monetary policy have evolved significantly since then. In this book, some of the top (...) economists working today reexamine the theoretical and empirical validity of the Phillips curve in its more recent specifications. The contributors consider such questions as what economists have learned about price and wage setting and inflation expectations that would improve the way we use and formulate the Phillips curve, what the Phillips curve approach can teach us about inflation dynamics, and how these lessons can be applied to improving the conduct of monetary policy. ContributorsLawrence Ball, Ben Bernanke, Oliver Blanchard, V. V. Chari, William T. Dickens, Stanley Fischer, Jeff Fuhrer, Jordi Gali, Michael T. Kiley, Robert G. King, Donald L. Kohn, Yolanda K. Kodrzycki, Jane Sneddon Little, Bartisz Mackowiak, N. Gregory Mankiw, Virgiliu Midrigan, Giovanni P. Olivei, Athanasios Orphanides, Adrian R. Pagan, Christopher A. Pissarides, Lucrezia Reichlin, Paul A. Samuelson, Christopher A. Sims, Frank R. Smets, Robert M. Solow, Jürgen Stark, James H. Stock, Lars E. O. Svensson, John B. Taylor, Mark W. Watson. (shrink)
In spacetime physics any set C of events—a causal set—is taken to be partially ordered by the relation ≤ of possible causation: for p, q ∈ C, p ≤ q means that q is in p’s future light cone. In her groundbreaking paper The internal description of a causal set: What the universe looks like from the inside, Fotini Markopoulou proposes that the causal structure of spacetime itself be represented by “sets evolving over C” —that is, in essence, by the (...) topos SetC of presheaves on Cop. To enable what she has done to be the more easily expressed within the framework presented here, I will reverse the causal ordering, that is, C will be replaced by Cop, and the latter written as P—which will, moreover, be required to be no more than a preordered set. Specifically, then: P is a set of events preordered by the relation ≤, where p ≤ q is intended to mean that p is in q’s future light cone—that q could be the cause of p, or, equally, that p could be an effect of q. In that case, for each event p, the set p↓ = {q: q ≤ p} may be identified as the causal future of p, or the set of potential effects of p. In requiring that ≤ be no more than a preordering—in dropping, that is, the antisymmetry of ≤—I am, in physical terms, allowing for the possibility that the universe is of Gödelian type, containing closed timelike lines. (shrink)
This is a transcript of a conversation between P F Strawson and Gareth Evans in 1973, filmed for The Open University. Under the title 'Truth', Strawson and Evans discuss the question as to whether the distinction between genuinely fact-stating uses of language and other uses can be grounded on a theory of truth, especially a 'thin' notion of truth in the tradition of F P Ramsey.
Although evidential reports of paranormal phenomena have been accumulating over the last 50 years, scepticism within the scientific community at large against the very existence of psi has not retreated in proportion. Strong criticism has been voiced and it is worth taking it under serious consideration while attempting to understand psi. This article reviews the micro- psychokinesis phenomenon, aiming to reconcile evidence that favours it with other evidence that seems to refute it. To achieve this challenging task, some seemingly irrelevant (...) observations will be invoked -- such as the often observed decline and differential effects, the ten-year-old statistical balancing effect, the longstanding reports for the experimental evidence of PK, the recent large-scale failure to replicate the conventional PK hypothesis -- alongside the austere arguments against PK. This paper argues that the evidence can withstand this serious criticism. (shrink)
In many countries consumers have shown an increasing interest to the way in which food products are being produced. This study investigates Chinese consumers’ attitudes towards different pig production systems by means of a conjoint analysis. While there has been a range of studies on Western consumers’ attitudes to various forms of food production, little is known about the level of Chinese consumers’ attitudes. A cross-sectional survey was carried out with 472 participants in 6 Chinese cities. Results indicate that Chinese (...) consumers prefer industrial pig production systems, where traditional pig breeds are raised, over large-scale and small family farms. Farms with maximum attention to food safety, which furthermore can provide lean meat with consistent quality, are also preferred. Imported pig breeds and tasty but variable meat were rejected. A 3-cluster solution found that consumers from cluster 1 focus almost exclusively on the food safety aspect. Consumers from cluster 2 show weak overall attitudes to pig production systems in general. Cluster 3 stands out by being very positive about industrial, large-size farms and consistent quality. From a Chinese consumer’s perspective, the industrial approach seems to represent values such as achievement and evolution, as well as quality and safety, since pig production is moving away from low-cost, low-quality, and low-safety family-scale systems. A complex set of rural and environmental development, quality aspects, and food safety measures are challenges that must be met by the stakeholders of pig production systems in China. (shrink)
A compilation of all previously published writings on philosophy and the foundations of mathematics from the greatest of the generation of Cambridge scholars that included G.E. Moore, Bertrand Russell, Ludwig Wittgenstein and Maynard Keynes.
