Inequality Rediscovered

Widespread recognition that economic inequality has been growing for forty years in most of the developed world, and in fact has tended to grow across most of the history of modern economies, shows that the period 1945-1973, when inequality of wealth and income shrank, was a marked anomaly in historical experience. At the time, however, the anomalous period of equality seemed to vindicate a long history of optimism about economic life: that growth would overcome meaningful scarcity and usher in an egalitarian and humanistic period that could almost qualify as post-economic. This has not been the experience of the last four decades. In this intellectual history of the anomalous period, we trace the main lines of that optimism and its undoing

Wealth and Democracy

The renewed debate over inequality has highlighted a set of deficits in much of the last fifty-plus years of thinking on the topic. The late twentieth-century tradition of thinking about distributive justice largely assumed (1) that market dynamics would produce stable and tolerable levels of inequality; and (2) that a relatively powerful, competent, and legitimate state could effectively redistribute to mitigate what inequality did arise. What was largely overlooked in this thought and has since risen to central attention is the prospect that (1) accelerating levels of market-produced inequality will (2) undermine the legitimacy and efficacy of the state and disable the political community from effectively pursuing distributive justice. This paper explains how the earlier assumptions arose, defined the boundaries of distributive justice for decades, and were undermined by developments from both the political left and the political right. At present, the dynamics of inequality appear to be self-perpetuating and self-accelerating, and much of earlier thinking on the topic has been rendered irrelevant by the erosion of its mistaken premises. Only a democratic effort to reconstitute a competent and legitimate state has any prospect of making inequality a tractable problem subject to effective intervention

Instantaneous Decentralized Poker

We present efficient protocols for amortized secure multiparty computation with penalties and secure cash distribution, of which poker is a prime example. Our protocols have an initial phase where the parties interact with a cryptocurrency network, that then enables them to interact only among themselves over the course of playing many poker games in which money changes hands. The high efficiency of our protocols is achieved by harnessing the power of stateful contracts. Compared to the limited expressive power of Bitcoin scripts, stateful contracts enable richer forms of interaction between standard secure computation and a cryptocurrency. We formalize the stateful contract model and the security notions that our protocols accomplish, and provide proofs using the simulation paradigm. Moreover, we provide a reference implementation in Ethereum/Solidity for the stateful contracts that our protocols are based on. We also adopt our off-chain cash distribution protocols to the special case of stateful duplex micropayment channels, which are of independent interest. In comparison to Bitcoin based payment channels, our duplex channel implementation is more efficient and has additional features

Land Assembly for Housing Developments

The ability to identify premature arterial stiffening is of considerable value in the prevention of cardiovascular diseases. The “ageing index” (AGI), which is calculated from the second derivative photoplethysmographic (SDPPG) waveform, has been used as one method for arterial stiffness estimation and the evaluation of cardiovascular ageing. In this study, the new SDPPG analysis algorithm is proposed with optimal filtering and signal normalization in time. The filter parameters were optimized in order to achieve the minimal standard deviation of AGI, which gives more effective differentiation between the levels of arterial stiffness. As a result, the optimal low-pass filter edge frequency of 6 Hz and transitionband of 1 Hz were found, which facilitates AGI calculation with a standard deviation of 0.06. The study was carried out on 21 healthy subjects and 20 diabetes patients. The linear relationship (r=0.91) between each subject’s age and AGI was found, and a linear model with regression line was constructed. For diabetes patients, the mean AGI value difference from the proposed model yAGI was found to be 0.359. The difference was found between healthy and diabetes patients groups with significance level of P<0.0005

AICPA CPA Opinion Poll

https://egrove.olemiss.edu/aicpa_assoc/1619/thumbnail.jp