The Emergence of the Entrepreneurial Society

Previous generations enjoyed the security of lifelong employment with a sole employer. Public policy and social institutions reinforced that security by producing a labor force content with mechanized repetition in manufacturing plants, and creating loyalty to one employer for life. This is no longer the case. Globalisation and new technologies have triggered a shift away from capital and toward knowledge. In today's global economy, where jobs and factories can be moved quickly to low-cost locations, the competitive advantage has shifted to ideas, insights, and innovation. But it is not enough just to have new ideas. It takes entrepreneurs to actualize them by championing them to society. Entrepreneurship has emerged as the proactive response to globalisation. This study identifies the positive, proactive response to globalisation-the entrepreneurial society, where change is the cutting edge and routine work is inevitably outsourced. Under the managed economy of the cold war era, government policies around the world supported big business, while small business was deemed irrelevant and largely ignored. This presentation explains the fundamental policy revolution under way, shifting the focus to technology and knowledge-based entrepreneurship, where start-ups and small business have emerged as the driving force of innovation, jobs, competitiveness and growth. The role of the university has accordingly shifted from tangential to a highly valued seedbed for coveted new ideas with the potential to create not just breathtaking new ventures, but also entire new industries. By understanding the shift from the managed economy and the emergence of the entrepreneurial society, individuals, businesses, and communities can learn how to proactively harness the opportunities afforded by globalisation in this new entrepreneurial society.

Constraints on Space-Time Torsion from Hughes-Drever Experiments

The coupling of space-time torsion to the Dirac equation leads to effects on the energy levels of atoms which can be tested by Hughes-Drever type experiments. Reanalysis of these experiments carried out for testing the anisotropy of mass and anomalous spin couplings can lead to the till now tightest constraint on the axial torsion by $K \leq 1.5 . 10^{-15} m^{-1}$.Comment: 10 pages, LaTex, To appear in Phys.Lett.

Actio causes reactio: Gravito-optical trapping of three-level atoms

We investigate an atomic three-level $\Lambda$-system which is exposed to two counterpropagating laser fields (inducing Raman transitions) and which is closed by a magnetic hyperfine field tuned to be in resonance with the transition between the two ground states. The influence of a homogeneous gravitational field is included in a full quantum treatment of the internal and external dynamics of the atom. It is shown that the combined influence of the gravitational field and the lasers lead for specific momentum values with a very high probability to a transition of the Landau-Zener type. This is accompanied by a momentum transfer resulting in an upward kick. For appropriate initial conditions a sequence of up and down motions is obtained. No mirror is needed. A gravito-optical trapping of atoms based on this effect seems to be realizable.Comment: 12 Pages, Latex, includes 3 figures. To appear in Phys. Rev.

Spontaneous excitation of an accelerated multilevel atom in dipole coupling to the derivative of a scalar field

We study the spontaneous excitation of an accelerated multilevel atom in dipole coupling to the derivative of a massless quantum scalar field and separately calculate the contributions of the vacuum fluctuation and radiation reaction to the rate of change of the mean atomic energy of the atom. It is found that, in contrast to the case where a monopole like interaction between the atom and the field is assumed, there appear extra corrections proportional to the acceleration squared, in addition to corrections which can be viewed as a result of an ambient thermal bath at the Unruh temperature, as compared with the inertial case, and the acceleration induced correction terms show anisotropy with the contribution from longitudinal polarization being four times that from the transverse polarization for isotropically polarized accelerated atoms. Our results suggest that the effect of acceleration on the rate of change of the mean atomic energy is dependent not only on the quantum field to which the atom is coupled, but also on the type of the interaction even if the same quantum scalar field is considered.Comment: 11 pages, no figure

Quantum reflection of massless neutrinos from a torsion-induced potential

In the context of the Einstein-Cartan-Dirac model, where the torsion of the space-time couples to the axial currents of the fermions, we study the effects of this quantum-gravitational interaction on a massless neutrino beam crossing through a medium with high number density of fermions at rest. We calculate the reflection amplitude and show that a specific fraction of the incident neutrinos reflects from this potential if the polarization of the medium is different from zero. We also discuss the order of magnitude of the fermionic number density in which this phenomenon is observable, in other theoretical contexts, for example the strong-gravity regime and the effective field theory approach.Comment: 8 pages, LaTe

Evolution of a qubit under the influence of a succession of unsharp measurements

We investigate the evolution of a single qubit subject to a continuous unitary dynamics and an additional interrupting influence which occurs periodically. One may imagine a dynamically evolving closed quantum system which becomes open at certain times. The interrupting influence is represented by an operation, which is assumed to equivalently describe a non-selective unsharp measurement. It may be decomposed into a positive operator, which in case of a measurement represents the pure measurement part, followed by an unitary back-action operator. Equations of motion for the state evolution are derived in the form of difference equations. It is shown that the 'free' Hamiltonian is completed by an averaged Hamiltonian, which goes back to the back-action. The positive operator specifies a decoherence rate and results in a decoherence term. The continuum limit to a master equation is performed. The selective evolution is discussed and correcting higher order terms are worked out in an Appendix.Comment: 19 pages, no figure

The Emergence of the Entrepreneurial Society: The 2008 Geary Lecture

This is the text of the 2008 Geary Lecture, an annual lecture in honour of Roy Geary delivered at the Economic and Social Research Institute in Dublin.

Biases in FX-Forecasts: Evidence from Panel Data

In this paper, we use the Wall Street Journal poll of FX forecasts to analyze how the group of forecasters form their expectations. One focus is whether forecasters build rational expectations. Furthermore, we analyze whether the group of forecasters can be regarded as homogeneous or heterogeneous. The results from our regressions strongly suggest that some forecasters combine different models of exchange rate forecasting, while others rely solely on one model. We also find evidence that some forecasters underly a bias, while others do not. Overall, our regression results indicate a high degree of heterogeneity. In conclusion, we show that the expectation formation process is not the same among all economists polled. Our findings carry importance for macroeconomic modelling: The assumption of rational agents forming homogeneous expectations is not supported by our results. --Foreign exchange market,forecast bias,random walk