The Value of Health and Longevity

We develop an economic framework for valuing improvements to health and life expectancy, based on individuals' willingness to pay. We then apply the framework to past and prospective reductions in mortality risks, both overall and for specific life-threatening diseases. We calculate (i) the social values of increased longevity for men and women over the 20th century; (ii) the social value of progress against various diseases after 1970; and (iii) the social value of potential future progress against various major categories of disease. The historical gains from increased longevity have been enormous. Over the 20th century, cumulative gains in life expectancy were worth over $1.2 million per person for both men and women. Between 1970 and 2000 increased longevity added about$3.2 trillion per year to national wealth, an uncounted value equal to about half of average annual GDP over the period. Reduced mortality from heart disease alone has increased the value of life by about $1.5 trillion per year since 1970. The potential gains from future innovations in health care are also extremely large. Even a modest 1 percent reduction in cancer mortality would be worth nearly$500 billion.

Current Unemployment, Historically Contemplated

macroeconomics, Current Unemployment

Fabrication and characterization of TiO2 nanoparticles conjugated luminescence upconversion nanoparticles

TiO2 nanoparticles conjugated luminescence upconversion (TiO2-UC) nanocomposites have been fabricated by covalently linking of carboxyl-functionalized TiO2 and amino-functionalized NaYF4:Yb3+,Er3+,Ce3+ upconversion nanoparticles (UCNP) in the presence of N,N'–dicyclohexylcarbodiimide (DCC) /4-dimethylaminopyridine (DMAP) coupling reagents. The carboxyl-functionalized TiO2 nanoparticles and amino-functionalized UCNPs have been synthesized by hydrothermal method with 5±2 and 55±10 nm in diameter, respectively. In the synthesis of UCNPs, the percentage of stabilizing agent (polyethyleneimine, PEI), the mole ratios of NaCl/NH4F and the co-doping ratio of Ce3+ ion have been found to be a significant effect on their size and morphology. Size, morphology, conjugation as well as photo-physical properties of all synthesized nanomaterials have been characterized by means of X-ray diffraction (XRD), transmission electron microscopy (TEM), Fourier transform infrared spectroscopy (FTIR), X-ray photoelectron spectroscopy (XPS), and fluorescence spectroscopy. UCNPs and TiO2-UCnanocomposites exhibit strong green luminescence at room temperature under 980 nm excitation leaded the emissions at 440, 520, 540 and 658 nm, representing 2H9/2 → 4 I15/2, 2H11/2→4 I15/2, 4 S3/2→4 I15/2 and 4 F→4 I15/2 transitions, respectively. The water dispersible luminescence nanocomposites having NIR light utilizing ability are promising for efficient light harvesting and/or bio-imaging applications.No sponso

China Informs A 21st Century Definition of the Rule of Law

Politicians, lawyers, and academics alike have long been fascinated with the rule of law, but this fascination has never immunized them from the challenges of defining just what the rule of law is. Indeed, defining the rule of law by citing an example, such as the United Kingdom or the United States, remains easier than articulating why those nations have the rule of law and how other nations can advance the ideal within their own boundaries. Still, modern scholarship has led to the creation of three alternative theories of the rule of law–formalist, procedural, and substantive conceptions. A formalist theory of the rule of law emphasizes the “form of the norms” applied to conduct. A procedural theory of the rule of law turns on institutions and their processes. A substantive theory of the rule of law compels the integration of formal and procedural aspects with substantive political ideals, which are often democratic. These definitions can and often are easily applied to Western democracies, but attempting to apply them to the modern Chinese legal system can leave scholars with more questions than answers about the true state of the rule of law in the 21st century. More than any other nation, China has long been the source of debate regarding its status in the rule of law discussion–is it a perfect example of a rule by law nation, and thus a perfect counterexample to the rule of law? Does it satisfy formalist or procedural definitions of the rule of law but fail to conform to substantive ideals? And if so, might that answer the age-old question of whether democracy truly is necessary for the rule of law? This Note argues that present-day China has taken slow steps towards building a legal and economic foundation of formal and procedural institutions which, at least momentarily, offer the government a rule of law smokescreen. This smokescreen has important implications for evaluating the flaws and strengths of formal, procedural, and substantive rule of law theories. It also places China on a collision course with the ultimate choice–whether to cling to its rule of law by cloak or to follow a natural evolution into a rule of law state