4,338 research outputs found
How Might Adam Smith Pay Professors Today?
No full textAdam Smith’s proposal for paying professors was intended to induce increased faculty knowledge. If students have imperfect information about what they learn, and universities can only imperfectly measure the input of faculty time in student learning, publications may be used to measure faculty knowledge. If professors’ ability to publish is positively related to their ability to produce student learning, which universities can imperfectly measure, publications may be necessary to attract more able professors. Since research signals faculty knowledge, schools that do not value publications per se could require higher publication standards and pay higher wages than schools that value only publications.
ADAM SMITH'S VIEW OF HISTORY: CONSISTENT OR PARADOXICAL?
No full textThe conventional interpretation of Adam Smith is that he is a prophet of commercialism. The liberal capitalist reading of Smith is consistent with the view that history culminates in commercial society. The first part of the article develops this optimistic interpretation of Smith's view of history. Smith implies that commercial society is the end of history because 1) it supplies the ends of nature that he identifies; 2) it is inevitable; and 3) it is permanent. The second part of the article shows that Smith has some dark moments in his writings where he seems to reject completely such teleological notions. In this more civic humanist mood he confesses that commercial society does not supply the ends of nature, nor is it inevitable, nor is it permanent. Both views exist in Smith and the commentator is forced to choose between passages in Smith's work in order to support a particular interpretation of the former's view of history.Political Economy,
Adam Smith and Roman Servitudes
No full textThis essay is a preprint of an article that appeared at: Tijdschrift voor Rechstsgeschiedenis, 72 (2004), 327–57.This essay discusses Adam Smith historical jurisprudence and his use of Roman law materials in his Lectures on Jurisprudence. It argues that Smith found it difficult to maintain his theory of legal development in the face of a highly developed body of Roman law literature
THE THEOLOGICAL FOUNDATION OF ADAM SMITH'S WORK
No full textThe paper will discuss the theological foundation to Smith's writings. Teleology, final causes and divine design were initially seen as central to understanding Smith's writings. Over time, this view fell out of fashion. In the period after World War II, with the rise of positivism, commentators tended to overlook or downplay this interpretation. In the last decade, or so, teleology has started to be restored to its former position as an essential element in understanding Smith. After spelling out Smith's teleology and his view of final causes, divine design and the ends of nature, we try to explain the Panglossian nature of the 'new theistic view' of Smith. While our view differs somewhat, we agree with the essence of the 'new view' claim: a theological view exists in Smith which underpins his moral and economic theories.Political Economy,
Inertia emulation control of VSC-HVDC transmission system
No full textThe increasing penetration of power electronics interfaced renewable generation (e.g. offshore wind) has been leading to a reduction in conventional synchronous-machine based generation. Most converter-interfaced energy sources do not contribute to the overall power system inertia; and therefore cannot support the system during system transients and disturbances. It is therefore desirable that voltage-source-converter (VSC) based high voltage direct current (HVDC) interfaces, which play an important role in delivery of renewable power to AC systems, could contribute a virtual inertia and provide AC grid frequency support. In this paper, an inertia emulation control (IEC) system is proposed that allows VSC-HVDC system to perform an inertial response in a similar fashion to synchronous machines (SM), by exercising the electro-static energy stored in DC shunt capacitors of the HVDC system. The proposed IEC scheme has been implemented in simulations and its performance is evaluated using Matlab/Simulink
VALUE OF INCREASING KERNEL UNIFORMITY
No full textKernel uniformity is an important quality attribute that can now be measured at low cost. This study analyzes the profitability of sorting to increase wheat kernel uniformity. Nonlinear programming is used to sort grain loads to maximize flour yield by increasing uniformity of kernel size and kernel hardness. Results of this analysis suggest increases in flour yield due to higher kernel uniformity are not enough to outweigh the costs of sorting.Crop Production/Industries,
How does insect resistance to phosphine affect insect control costs of stored-grain?
No full textCrop Production/Industries,
P Werhane, Adam Smith's Legacy for Modern Capitalism
No full textFirst, the book does not have an original thesis. The thesisthe author wants to argue is that Smith is different from his current caricature, a legacy of his nineteenth-century image, according to which he would argue that: i) man is a maximizer of utility; ii) man is ordinarily moved by a narrow selfish interest, or at least is indifferent to the interests of others; iii) human beings are social atoms; iv) a perfectly competitive market is morally a free zone (pp. 4-5). The author recognizes that these interpretations "are being questioned by many scholars". contemporary", however, reiterates his conviction that these interpretations are still prevalent, and cites in this regard the abuse of the name of Smith by the Chicago school (p.6). If the author's aim is to challenge a caricature, still common among non-experts but no longer shared by Smith's scholars, one may wonder whether this justifies a new book. Secondly, the author does not demonstrate mastery of the state of the art. She wants to demonstrate the non-existence of Adam Smith Problem, not only without any direct knowledge of German literature but ignoring an important article by Heilbroner from 1981 and a fundamental essay by Dickey from 1986 that explicitly advocate an exhumation of the "Adam Smith problem" in a new form. Thirdly, the author lacks the ability to understand concepts and problems in contextual terms: where she mentions Adam Smith's 'Newtonianism' she does not prove to be familiar with the literature on the subject, citing Lindgren as the only authority and ignoring, among others, Moscovici, Skinner, Hetherington and Freudenthal, but also seems to understand by Newtonianism an equivalent of deterministic and materialistic mechanicism (pp. 48-51). Besides, every time she uses the term utilitarianism he confuses it with the terms hedonism, economicism, selfishness (p. 155)
THE USE OF MEAN-VARIANCE FOR COMMODITY FUTURES AND OPTIONS HEDGING DECISIONS
No full textThis study provides additional evidence of the usefulness of mean-variance procedures in the presence of options which can truncate and skew the returns distribution. Using a simulation analysis, price hedging decisions are examined for hog producers when options are available. Mean-variance results are contrasted with optimal decisions based on negative exponential and Cox-Rubinstein utility functions over 56 ending price scenarios and two levels of risk aversion. The findings from our simulation, which considers discrete contracts, basis risk, lognormality in prices, transactions costs, and alternative utility specifications, affirm the usefulness of mean-variance framework.Marketing,
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Book of Adam, Gospel of Eve
No full textBook of Adam, Gospel of Eve reimagines the story of the Garden of Eden. It is told in part from the perspective of Adam, who knows nothing of the world outside the walls of the garden, and in part from the perspective of Eve, who lived in the city of Eden for two decades prior to her confinement in the garden.
The ‘author’ witnessed the deaths of Adam and Eve in the final days of the garden and remains alive today. Both stories are written in the third person, and the author, Ye, excerpts additional archaic sources to complete and enrich both books that make up this text.
To Adam and Eve, as well as the author, the god of Eden was a man until he contracted a beneficial contagion that gave him immortal life. The god, Etana, is complicated—capable of giving others the gift of eternal life through baptism, but equally willing to kill indiscriminately. Etana and all who are baptized become sanguivorous, and the centrality of blood in the world of the baptized gives the text its core motif and explains many of the miracles in the holy texts of Judaism, Christianity, and Islam.
Lucifer, the grandson of Etana, baptizes Eve and then Adam before he tempts both of them with the one forbidden substance in the garden. The seven Seraphim assist Etana and oversee the garden, while the Dominion, a lesser rank of angels, maintains the garden’s perfection.
Though Ye’s Book of Adam, Gospel of Eve is aware of its context in a broader world, it focuses on and gives life to a story that is both familiar and sparse.
This thesis includes the first twenty-two pages of Gospel of Eve and the first forty-three pages of Book of Adam. Each is expected to be between thirty-five and forty- five thousand words in length when completed
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