ABRAHAM LINCOLN: CENTRALIZING CLASS WARRIOR

Abraham Lincoln was the great centralizer. His War of 1861 was only the tip of the iceberg in this regard. This core of his philosophy can also be seen in his “contributions” to class warfare, the American “system” of public works, strong tariff protection, public lands policy, welfare payments to large corporate interests, and in the contrasts between the Confederate and the U.S. Constitutions.Class warfare, Lincoln, tariffs, public lands, Confederate Constitution, centralization

THE ANTIMATHEMATICALITY OF DEMAND CURVES

Mathematics has proven so helpful in the physical sciences such as physics that it has been improperly applied to economics. The dismal science studies purposeful human action, while purpose in the hard sciences is properly dismissed as anthropomorphic. The present paper takes the demand curve as a case in point. It demonstrates that this tool of analysis is fundamentally flawed in that it violates its own economic assumption of ceteris paribus, and also the mathematical requirement that only the proper number of variables may vary along a given graph in two-dimensional spac

On exchange, monetary credit transactions, barter, time preference, interest rates, and productivity

We attempt in this paper to tie together several basic insights of praxeology, and several that are not at all that basic. These include the following: that gains from exchange are subjective; that this applies to profits and interest; that credit transactions can occur under barter; that interest arises from time preference even under a pure time preference theory of interest; and that productivity can, under disequilibrium conditions, affect the various rates of interest

Crash and Carry: Financial Intermediaries, the Intertemporal-Carry Trade, and Austrian Business Cycles

Barnett and Block (2008) establish that not only are fractional reserve demand deposits fraudulent and create an Austrian Business Cycle (ABC), but that a certain type of mismatching between time deposits and the period for which the depository institution relends the deposited funds (banks or other financial intermediaries “borrowing short and lending long”) are also contrary to libertarian law. The question we address in the present paper is whether or not this type of disconnect between the period for which the ultimate lender committed funds and the ultimate borrower gained possession thereof also necessarily start an Austrian Business Cycle. Even though this does not constitute an increase in the stock of money, we answer in the affirmative

Austrian Government Cycle Theory

When government accounted for a small proportion of the economy, the Austrian Business Cycle Theory (ABCT) was apropos because private enterprises comprised the lion’s share of commercial interactions. But, of late, in more and more countries, the share of the economy accounted for by the state has increased, and that by business firms, less and less. Thus, it is time, it is past time, to introduce a new concept, Austrian Government Cycle Theory (AGCT). The present paper is an attempt to move us in that direction.Kiedy rząd odpowiadał za małą część gospodarki, autriacka teoria cykli gospodarczych (ABCT) była odpowiednia dla prywatnych przedsiębiorstw, które zawierały lwią część relacji biznesowych. Później w coraz większej ilości państw, udział gospodarki związanej z państwem wzrastał, a udział przedsiębiorstw prywatnych malał. Stąd nastał czas, aby zaprezentować nową koncepcję, czyli teorię cykli rządu Austrii (AGCT). Ten artykuł jest próbą ukazania tego właśnie fenomenu

Prompt atmospheric neutrino fluxes: perturbative QCD models and nuclear effects

We evaluate the prompt atmospheric neutrino flux at high energies using three different frameworks for calculating the heavy quark production cross section in QCD: NLO perturbative QCD, $k_T$ factorization including low-$x$ resummation, and the dipole model including parton saturation. We use QCD parameters, the value for the charm quark mass and the range for the factorization and renormalization scales that provide the best description of the total charm cross section measured at fixed target experiments, at RHIC and at LHC. Using these parameters we calculate differential cross sections for charm and bottom production and compare with the latest data on forward charm meson production from LHCb at $7$ TeV and at $13$ TeV, finding good agreement with the data. In addition, we investigate the role of nuclear shadowing by including nuclear parton distribution functions (PDF) for the target air nucleus using two different nuclear PDF schemes. Depending on the scheme used, we find the reduction of the flux due to nuclear effects varies from $10\%$ to $50 \%$ at the highest energies. Finally, we compare our results with the IceCube limit on the prompt neutrino flux, which is already providing valuable information about some of the QCD models.Comment: 61 pages, 25 figures, 11 table

The high energy neutrino cross-section in the Standard Model and its uncertainty

Updated predictions are presented for high energy neutrino and antineutrino charged and neutral current cross-sections within the conventional DGLAP formalism of NLO QCD using modern PDF fits. PDF uncertainties from model assumptions and parametrization bias are considered in addition to the experimental uncertainties. Particular attention is paid to assumptions and biases which could signal the need for extension of the conventional formalism to include effects such as ln(1/x) resummation or non-linear effects of high gluon density.Comment: 15 pages, 13 figures, 2 tables (REVTeX4); clarifying comments and link to tabulated cross sections at http://www-pnp.physics.ox.ac.uk/~cooper/neutrino/ added; to appear in JHE