Journal of Social, Political, and Economic Studies最新文献_第4页

Knights of the Brush: The Hudson River School and the Moral Landscape 《毛笔骑士:哈德逊河学派与道德景观

Journal of Social, Political, and Economic Studies Pub Date : 2001-04-01 DOI: 10.5860/choice.37-5466

D. D. Murphey

{"title":"Knights of the Brush: The Hudson River School and the Moral Landscape","authors":"D. D. Murphey","doi":"10.5860/choice.37-5466","DOIUrl":"https://doi.org/10.5860/choice.37-5466","url":null,"abstract":"Knights or the Brush: The Hudson River School and the Moral Landscape by James F. Cooper Hudson Hills Press, 1999 Readers of this journal will recall the article entitled An Artistic Renaissance? in the summer 1999 issue that told of the American Arts Quarterly's championing of a potential aesthetic renewal in the United States. The goal of the Newington-Cropsey Foundation, publisher of the Quarterly, has been to promote sublimity and beauty in the arts, supplanting what it sees as a studied ugliness in postmodernist art. One of the early-American schools of art that is often featured within the Quarterly is the Hudson River School of Romantic painters that towered over American painting between 1830 and 1860. Although the Quarterly contains articles by a number of authors about many different artists and their work, the intellectual core of the Quarterly's efforts comes from two men: James F. Cooper, the editor, and Frederick Turner, who works with the magazine and serves on the editorial advisory board. Now the Quarterly is in effect supplemented by a book of high-- quality artistic reproductions and aesthetic, historical commentary. James F. Cooper is Knights of the Brush's primary author, providing the text that accompanies the illustrations and that explains the characteristics of the Hudson River School and its place in American history. Frederick Turner adds a second to Cooper's views with a brief Foreword. Fifty-six colorplate reproductions of the leading paintings by such artists as Thomas Cole, Jasper F. Cropsey, Frederic Edwin Church, Asher Brown Durand, and others, combine with the text to make this book rank high among the many beautiful and informative art books available. The early nineteenth century American wilderness, suffused with light that is made even more striking by its contrast with deep shadow, provides the paintings' subject. The scenes often contain Protestant Christian imagery, reflecting the artists' central purpose of presenting nature as a manifestation of God's presence. The values informing their work? - virtue, chivalry, spirituality, beauty, order - to which we might add Plato's philosophic Realism, as is evident when reference is made to \"timeless archetypal forms.\" Accordingly, Cooper and Turner see the Hudson River School as a champion of artistic standards that have been repudiated by the postmodernist school, which for several years has held sway within academic and institutional art. They tell us how art today has been politicized and condemns the past as Eurocentric, heterosexual, racist, hierarchical, and an instrument of class and racial oppression. The radical relativism of Foucault and Derrida denies the value of standards, representational art, and archetypes. To present this contrast and to point, then, to a possible renewal of Western artistic commitment to beauty, Knights of the Brush contains three sections: \"Paradise Found,\" about the Hudson River School itself; \"Paradise Lost,\" about the slide","PeriodicalId":52486,"journal":{"name":"Journal of Social, Political, and Economic Studies","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2001-04-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"73272211","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 2

Chinese Intelligence Operations 中国情报部门

Journal of Social, Political, and Economic Studies Pub Date : 2000-10-01 DOI: 10.5860/choice.32-1763

F. Smith

引用次数: 8

American Academia and the Survival of Marxist Ideas 美国学术界与马克思主义思想的生存

Journal of Social, Political, and Economic Studies Pub Date : 2000-10-01 DOI: 10.5860/choice.35-1026

D. D. Murphey

引用次数: 2

A Vision for Space 太空愿景

Journal of Social, Political, and Economic Studies Pub Date : 2000-04-01 DOI: 10.1111/j.1444-0938.1959.tb00100.x

J. H. Hughes

{"title":"A Vision for Space","authors":"J. H. Hughes","doi":"10.1111/j.1444-0938.1959.tb00100.x","DOIUrl":"https://doi.org/10.1111/j.1444-0938.1959.tb00100.x","url":null,"abstract":"New initiatives are needed by the U.S to maintain a strong space program, inclouding the develop of the moon. This program will help the U.S. to build a missile defense system in space. Key Words: Ballistic missile defense, Brilliant Pebbles, Space Based Laser, space transportation, heavy lift booster, the moon, water on the moon. Our vision for space has changed since Wernher von Braun led the space program and Apollo moonshot.1 The growth of computers, development of sophisticated infrared, radar, and optical sensors, and innovative use of satellite networks have created new roles for space, especially in telecommunications. But one essential element is missing: the pioneer with the vision, passion, and understanding to develop space. On July 20, 1969, Neil Armstrong stepped on the moon's surface. But since then, more than 25 years ago, man has yet to return to the moon. In spite of the discovery of water on the moon, greatly simplifying the development and operation of a manned lunar base, the United States has yet to send a man back to the moon.2 We need a vision for space with new horizons, including man in space. A vision for space will help the United States keep ahead of Russia, China, Europe, Japan, and India, who are actively challenging American leadership.3 A vision for space can lead to a surge of technological and scientific progress, benefiting the U.S. economy and military with long-term improvements in basic technological infrastructure. A vision for space will develop manned bases on the moon.4 A vision for space will build various two-stage reusable rocket and Single Stage To Orbit designs to dramatically cut the cost of space launches.5 The economic and military implications of a Single Stage To Orbit (or two-stage reusable rocket) - lower launch costs - are enormous. It will open wide the door to space. A vision for space would exploit the technological advantages of deploying ballistic missile defenses in space to meet the growing threat of intermediate and long range ballistic missiles. In March 1999, the House and Senate, recognizing the growing threat of long range ballistic missiles, voted overwhelmingly for deploying a national missile defense.6 Strategy for Space There is an essential link between space programs and defense.7 The German V-2 rocket spawned the American and Russian ballistic missile and space programs. The linkage between space and defense extends to the deployment of ballistic missile defenses in space. There are inherent advantages to deploying ballistic missile defenses in space: automated operation; continuous, global coverage; higher position compared to ground based defenses or a boosting rocket; long lines of sight especially for high energy lasers; and a boost phase defense capability, which ground-based defenses lack. A strong space program will deploy ballistic missile defenses in space to control space.8 A strong space program will also result in spin-offs assisting the deployment of ballistic","PeriodicalId":52486,"journal":{"name":"Journal of Social, Political, and Economic Studies","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2000-04-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"87030835","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 2

Stocks for the Long Run 长期股票

Journal of Social, Political, and Economic Studies Pub Date : 2000-04-01 DOI: 10.5860/choice.40-2908

E. Miller

{"title":"Stocks for the Long Run","authors":"E. Miller","doi":"10.5860/choice.40-2908","DOIUrl":"https://doi.org/10.5860/choice.40-2908","url":null,"abstract":"Stocks for the Long Run Jeremy J. Siegel McGraw Hill, 1998 Jeremy Siegel has written a book that could have a great effect on the reader's wealth while challenging conventional academic views. It is written at the popular level but references the underlying academic articles (i.e. it is footnoted). Siegel is a finance professor at the University of Pennsylvania's Wharton School, so he is well qualified to draw on the academic literature. The basic message of the book is that stocks have been a wonderful long run investment, and can be expected to continue to be so. The emphasis is on the long run, because there is no doubt that stocks can be exceedingly risky in the short run. As an illustration of stocks' short-run risk, consider October 19, 1987, when the stock market dropped by 22.6% in one day (see Miller 1999 for a review of a book focusing on this episode). Because of the short-run riskiness of stocks, one who is saving for an event in the near future (such as the next vacation), runs a considerable risk of losing money. However, most saving is done not for such short-run purposes but for long-run purposes such as retirement, or to leave money to descendants. Siegel makes a convincing case that stocks are much better for such long-run purposes than either bonds or money market instruments. Bank deposits usually earn even less than money market instruments, and hence are also dominated by stocks. The textbooks I use in teaching finance present evidence that stocks have, on average, outperformed bonds since 1926. Siegel carries this evidence back to 1802, presenting data on the returns from stocks and bonds from 1802 to 1997. Over this long period stocks have had an average return of 8.4%, composed of price increases averaging 3.0%, and dividends averaging 5.4%. In contrast, long-term US government bonds have averaged 4.7%, and short-term US governments, 4.3%. This superiority of stocks held true for major subdivisions of the period studied also. Economists talk about the equity risk premium, the differential between stocks and bonds, which is usually interpreted as the reward to bearing the risks of equity. This of course varies tremendously year to year. Siegel plots a thirty-year running average of the equity risk premium. It is striking that it is virtually always well above 0% (the exceptions appear to be around 1841 and 1861, which are well over a century ago). Thus, for someone investing for the long run, it appears stocks virtually always exceed bonds in return. The riskiness of having stocks underperform bonds turns out to depend very much on the holding period. A fascinating graph (showing data from 1802 to 1997) shows the maximum and minimum real (i.e., inflation adjusted) annualized returns for various holding periods (p. 27). For short holding periods, there is the expected result that one can lose more money on stocks than on either bonds or T-bills, frighteningly more. The worst one-year return on stocks is -30.6% (the best is ","PeriodicalId":52486,"journal":{"name":"Journal of Social, Political, and Economic Studies","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2000-04-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"73664677","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 532

Financial Services, Globalization and Domestic Policy Change 金融服务、全球化和国内政策变化

Journal of Social, Political, and Economic Studies Pub Date : 1999-07-01 DOI: 10.5860/choice.34-2268

E. Miller

{"title":"Financial Services, Globalization and Domestic Policy Change","authors":"E. Miller","doi":"10.5860/choice.34-2268","DOIUrl":"https://doi.org/10.5860/choice.34-2268","url":null,"abstract":"Financial Services, Globalization and Domestic Policy Change William D. Coleman St. Martin's Press, New York, 1996. Financial markets are going global. Policy makers are struggling to adjust. This book, by a Canadian political scientist, exams the policy response in five countries, the U.S., Canada, the UK, France, and Germany. As one might expect from a political scientist the emphasis is on how countries reach their decision on how to respond as much as on how countries actually responded. The emphasis is on two industries, loan making and security trading, which at the start of the period discussed, the 1960's were generally viewed as separate industries, with separate firms in each (except in Germany). In many countries, the business of making loans was divided among different types of firms, with firms called banks specializing in loans to business firms, and other firms (saving and loans, building societies) specializing in residential lending, and a variety of other intermediaries meeting the needs of the lower income populations, the rural population, or small businesses. In most countries there was a breakdown in the barriers between these separate segments, and a move towards permitting banking firms to engage in any type of financing, including selling securities. This is referred to as universal banking. Much of this movement was driven by the concern that if domestic firms did not expand and internationalize, some of the business would be lost to more flexible foreign firms. In security markets, the pressure was to lower the prices to users of the services and make the services more efficient. While in the U.S., the pressure for this seems to have been directed towards benefiting the consumers of financial services (here especially the institutional investors), in other countries the move seems to have been driven by a fear that the business would go abroad unless the domestic markets were highly efficient and provided services at a low price. While the focus of the book is on the process by which change occurs, it may be most interesting for the readers of this journal to point out how large the changes are that various countries have undergone. For instance, France started the period in the sixties with a highly fragmented system with commercial banks, merchant banks, savings banks, and financial cooperative all operating under different rules, with special institutions handling lending to agriculture, to artisans, and to local governments. Only 15% of the financial needs of the economy came through security markets. The government owned the major banks and in addition had a highly intricate system of credit controls and allocation, with 70 different interest rate regimes covering 44% of lending. A traditional career path had top graduates from the Ecole Nationale de Administration move to the Grand Corps of the Inspection general des finances and from there to the Ministry of Finance. After a rapid rise through the ranks they were","PeriodicalId":52486,"journal":{"name":"Journal of Social, Political, and Economic Studies","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"1999-07-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"74982226","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 50

The Andean Cocaine Industry 安第斯可卡因工业

Journal of Social, Political, and Economic Studies Pub Date : 1999-07-01 DOI: 10.5860/choice.34-2417

E. Miller

{"title":"The Andean Cocaine Industry","authors":"E. Miller","doi":"10.5860/choice.34-2417","DOIUrl":"https://doi.org/10.5860/choice.34-2417","url":null,"abstract":"The Andean Cocaine Industry Patrick L. Clawson and Rensselar W. Lee III New York: St. Martin's Press, 1996 Criminal activities are not normally considered as a contributor to national income, yet the cocaine industry in the Andean countries (Peru, Bolivia, and Columbia) are important enough to be a major part of their national economies, as this fascinating book documents. Cocaine exports (cocaine is primarily an export industry) are estimated to be 53% of Peru's exports in 1992. For Bolivia, U.S.AID estimates had put cocaine exports as 90% of the exports in 1988, but \"only 23%\" by 1992. For an illegal activity, these are high figures. The structure of the industry consists of large numbers of peasants growing the crop in low-lying and jungle areas, and with processing in \"laboratories\" located in the rural areas. The per capita incomes derived at this stage are low. The big profits are made by smuggling the drug into the U.S. and Europe. Estimates are that cocaine hydrochloride costs $1000 per kilogram, with the cost of transportation to the United States market being $3,000, and miscellaneous other costs (handling, bribes in major markets) $500. With a wholesale price estimated at $13,000 per kilogram in the U.S. market, the profit potential is very high. Getting the proceeds back home in legal form is estimated as costing 15% of the total, leaving the gross profit margins from shipping to the U.S. at $6,500 per kilogram, about half of the wholesale proceeds. Interestingly, European prices appear to be much higher at $35,000 per kilogram. With the retail price of cocaine being $120-$151 per gram, the retail price is $121,000-$151,000 per kilogram, about 10 fold higher than the port-of-entry prices. Thus most of the cocaine profits are made in the United States, creating a strong incentive for the Colombian exporters to move operations downstream. In many U.S. cities Colombians have established distribution cells that sell the cocaine in lots of 30 to 100 kilograms at prices of $35,000 to $45,000. These highly profitable operations are run by inmigrants from Columbia with strong ties back home (having relatives whose location is known to the exporter is one way of assuring loyalty). Since it is not known how many of these will eventually return home, it is unclear in national income accounting terms how much of this income should be credited to Columbia. Estimates by Colombian economists of their country's cocaine income differ widely from as low as $170 million to $3.1 billion. One table (p. 24) puts exports by core Colombian organizations (i.e. excluding the small organizations not affiliated with the major Cali or Medellincentered groups) at 250 tons to the U.S., and 80 tons to Europe, with total earnings of $3.71 billion. Due to higher prices in Europe, most of the earnings were actually from Europe. Estimating the major exporters as accounting for 75% of the exports, the total value of exports would be $8 billion. This substantial sum is 90","PeriodicalId":52486,"journal":{"name":"Journal of Social, Political, and Economic Studies","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"1999-07-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"75373078","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 40

The Genesis of Chinese Communist Foreign Policy 中国共产党外交政策的起源

Journal of Social, Political, and Economic Studies Pub Date : 1999-04-01 DOI: 10.5860/choice.33-6445

E. Miller

{"title":"The Genesis of Chinese Communist Foreign Policy","authors":"E. Miller","doi":"10.5860/choice.33-6445","DOIUrl":"https://doi.org/10.5860/choice.33-6445","url":null,"abstract":"The Genesis of Chinese Communist Foreign Policy Michael H. Hunt Columbia University Press, New York, 1996. With 1.2 billion people and rapid economic growth, China will soon be the world's leading economic power, and can be expected to play a corresponding role in international relations. Understanding the origins of China's foreign policy then becomes important. Hunt's book starts with the crisis in the Quing Dynasty (starting from about 1800) when it became clear that China was threatened by the economically and militarily stronger Western powers. It ends with the Korean War. In recent years many new Chinese language documents have become available dealing the Mao era, permitting a reevaluation of this era. Mao and many other communist leaders are interpreted as \"patriots\" rather than \"nationalists\". The reason is that they valued the Chinese state and wished to see it powerful. This went beyond traditional \"nationalism,\" with its emphasis of freeing ones home people from foreign domination. Dynastic China was an empire in which the majority of the population was Han (i.e. Chinese), but which had extended its control over the non-Chinese populations in Manchuria, Mongolia, Xinkiang (a large traditionally Muslim area in West China) and Tibet. The Communists and those who overthrew the Qing dynasty sought to maintain Chinese control over these outlying areas. This left the Communist with the problem of explaining why the Chinese people should be free of foreign domination, but yet the non-Chinese areas of Tibet, Xinkiang, Mongolia, etc. should be under Chinese control. Only recently has the area that in World War II was Manchuria, and is now called Northeast China, came to have a predominately Chinese population. It was originally populated by an ethnic group called the Manchu. These conquered China proper, setting up what Chinese called the Qing Dynasty (sometimes called the Manchu Dynasty). While the Manchu rulers adopted Chinese culture and styles of ruling, for most of their reign they restricted Han migration into their homeland. Only in the last century when Russia and Japan were seeking control of the region, did they encourage the Han migration that finally firmly tied the region to China (It is now at least ninety percent Han). Likewise, Inner Mongolia only recently became predominately Han rather than Mongolian, and the large area of Xinkiang only very recently came to have a Han majority. The same process now appears to be taking place in Tibet. For the Chinese \"patriots\" a problem was how to reconcile Chinese domination (and settlement) of these regions with calls for the Chinese themselves to be free of foreign domination. The book traces the conflict in the late Qing dynasty between two views. One feared the cultural influences of the foreigner and called for massive resistance to the foreign intrusions. Anther realized that China was militarily weak and needed access to foreign technology and skills, and were hence willing to accep","PeriodicalId":52486,"journal":{"name":"Journal of Social, Political, and Economic Studies","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"1999-04-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"77003859","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 43

Katyn: The Untold Story of Stalin's Polish Massacre 卡廷:斯大林的波兰大屠杀不为人知的故事

Journal of Social, Political, and Economic Studies Pub Date : 1999-04-01 DOI: 10.5860/choice.29-3481

Dwight C. Murphey

引用次数: 4

Investment Intelligence from Insider Trading 来自内幕交易的投资情报

Journal of Social, Political, and Economic Studies Pub Date : 1999-01-01 DOI: 10.5860/choice.36-4599

E. Miller

{"title":"Investment Intelligence from Insider Trading","authors":"E. Miller","doi":"10.5860/choice.36-4599","DOIUrl":"https://doi.org/10.5860/choice.36-4599","url":null,"abstract":"A recent book analyzing a large database about \"insider trading\" as reported to the Securities and Exchange Commission gives valuable insights into what can be learned, by investors and market analysts, from the buying and selling done by insiders. In this article, the book's results are reported, and commentary is added about the implications. Key Words: Insider trading, market indicators for investors, H. Ne)jats Seyhun, insiders' market behavior, statistical studies to predict securities market. H. Neyjats Seyhun's Investment Intelligence from Insider Trading (MIT Press, 1998) reports on a massive study of the ability of statistics on insider trading from 1973 to 1994 to predict U.S. stock returns. It should be of interest to both stock market investors and financial economists. The federal Securities Exchange Act of 1934 defines \"insider\" in two ways, one of which says insiders are high-level corporate executives, board members, or stockholders with over 10% ownership in the company. Insiders of this kind are forbidden from benefiting from any positions held for less than six months, and anyone in possession of material, non-public information (the other definition of \"insider\") is forbidden from trading in the firm's securities while having such information. To enforce these regulations, insiders of the first type are required to report their trading of the stocks for which they are insiders within 10 days of the month's close to the Securities and Exchange Commission, which then makes it public. Seyhun combines this data with other stock market data to also report on the profitability of investment rules involving such measures as priceearnings ratios, book-to-market ratios, take-overs, and trends in prices. In Seyhun's study, insider trading in a particular company is first aggregated by months, with a month where the insiders bought more shares than they sold defined as a buying month, and one in which they sold more than they bought being defined as a selling month. This resulted in 144,884 buy months and 164,309 sell months, making this a large database. The surplus of selling is probably because the category of insider includes many who started firms (or got in early), and who afterwards tend to be net sellers. Since most insiders have the bulk of their wealth in their company, standard financial advice would be to diversify (which of course is legal). It should be noted that much insider trading is for such legitimate purposes as diversification and personal liquidity. It is also legal for insiders to make trades based on public information (if, at the time, they have no inside material information). Of course, given their concentrated position and incentive to keep up-to-date on their companies, insiders may be better able to evaluate and use the public information. While it is illegal for insiders to trade on material, non-public information, it is legal to refrain from trading on the basis of material, non-public information, a poi","PeriodicalId":52486,"journal":{"name":"Journal of Social, Political, and Economic Studies","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"1999-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"87526686","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 167