Economics, realism and reality: a comparison of Mäki and Lawson

There is presently considerable debate about the application and interpretation of realism in economics. Interest in this area of the philosophy and methodology of economics has intensified over the last twenty years, especially due to the substantial contributions by Uskali Mäki and Tony Lawson respectively. Although their work falls under the same banner of realism in economics, their projects differ significantly in many important respects. This review tries to clarify the contrasting approaches of each author and explains the main reasons for the differences between them. The emphasis is on clarification of their respective positions rather than a comprehensive critical evaluation as such.

Growth, Employment and Unemployment in South Africa

The high rate of unemployment in South Africa stands out in an otherwise vastly improved set of macroeconomic fundamentals compared to the situation in the early 1990s. One might be tempted to argue that by this single indicator alone, government policies such as GEAR have been a failure. This paper explains why jumping to such a conclusion would be a mistake and focuses on the relationship between economic growth and employment and shows how estimates of the employment coefficient have changed over time. This paper finds that the main reason for the persistently high and rising rates of unemployment in South Africa over this period was the very large increase in the labour force and not a deficient growth or employment performance of the economy.

Realism and determinism: some thoughts on neoclassical economics

Neoclassical economics is often criticised for being deterministic and disconnected from social reality. A related criticism is that neoclassical economic theory is instrumentalist. This article argues that neoclassical economics, if properly understood, can be given a realist interpretation. The origins of classical and neoclassical economics are briefly discussed and the scholarly shift away from political economy is located in the marginal utility revolution in economic thought in the 1870s. It is argued that the core assumptions of neoclassical economics capture essential aspects of social reality and are not merely convenient, fictitious abstractions; that the charge of instrumentalismis not entirely justified, and that neoclassical economic theory does not imply that social processes are deterministic or mechanistic in reality

Theories of exchange rates and the methodology of economics

This thesis is an exercise in applied methodology. Ideas in the history and philosophy of science which have proved to be influential in the methodology of economics, and in shaping economists' self-image in this regard, are selected for closer analysis and criticism. The main ideas that are addressed are those of empiricism, with emphasis on the methodological falsificationism of Karl Popper and Imre Lakatos, and Laudan's problem solving model of scientific progress . The thesis examines the relationship between empirical evidence, in the form of both econometric test results and stylized facts, and the development of theories about exchange rates and the open economy. This analysis begins with Cassel's formulation of purchasing power parity theory in 1916, through the elasticities, absorption, and Mundell-Fleming models of exchange rates and the balance of payments, up to the present day monetary and asset market models. This is done with regard to the broad methodological issues examined earlier in the thesis. Some of the main empirical and methodological difficulties in testing such theories are addressed, with particular reference to the role played by the Duhem-Quine thesis and the ceteris paribus assumption. Although some of these difficulties may be regarded as a matter of degree compared to similar problems in the natural sciences, it is argued that this difference is significant for the workability of falsification in economics . Moreover, the presence of hypotheses about expectations in many economic theories appears to be a substantive difference such that the difficulties posed by the Duhem-Quine thesis apply with much greater force in a social science like economics. The main conclusions are that neither the Popperian nor Lakatosian versions of falsification are seriously practiced in the area of exchange rate economics and that, unlike the position taken by advocates of falsification such as Mark Blaug, it would be inappropriate and misguided to do so. A tentative case is made, with some reference to the theories surveyed in this thesis, for the possibly greater relevance of Laudan' s more pragmatic problem solving model for the methodology of economics, particularly as regards his analysis and emphasis on conceptual problem solving in the progress of knowledge

A psychometric evaluation of emotional responses to horror music

This research explores and designs an effective experimental interface to evaluate people's emotional responses to horror music. We studied methodological approaches by using traditional psychometric techniques to measure emotional responses, including self-reporting, and galvanic skin response (GSR). GSR correlates with psychological arousal. It can help circumvent a problem in self-reporting where people are unwilling to report particular felt responses, or confuse perceived and felt responses. We also consider the influence of familiarity. Familiarity can induce learned emotional responses rather than listeners describing how it actually makes them feel. The research revealed different findings in self-reports and GSR data. Both measurements had an interaction between music and familiarity but show inconsistent results from the perspective of simple effects

AI and Automatic Music Generation for Mindfulness

This paper presents an architecture for the creation of emotionally congruent music using machine learning aided sound synthesis. Our system can generate a small corpus of music using Hidden Markov Models; we can label the pieces with emotional tags using data elicited from questionnaires. This produces a corpus of labelled music underpinned by perceptual evaluations. We then analyse participant’s galvanic skin response (GSR) while listening to our generated music pieces and the emotions they describe in a questionnaire conducted after listening. These analyses reveal that there is a direct correlation between the calmness/scariness of a musical piece, the users’ GSR reading and the emotions they describe feeling. From these, we will be able to estimate an emotional state using biofeedback as a control signal for a machine-learning algorithm, which generates new musical structures according to a perceptually informed musical feature similarity model. Our case study suggests various applications including in gaming, automated soundtrack generation, and mindfulness

SUS1, a functional component of the SAGA transcription complex and the mRNA export machinery.

Gene expression is a coordinated multistep process that begins with transcription and RNA processing in the nucleus followed by mRNA export to the cytoplasm for translation. Here we report the identification of a protein, Sus1, which functions in both transcription and mRNA export. Sus1 is a nuclear protein with a concentration at the nuclear pores. Biochemical analyses show that Sus1 interacts with SAGA, a large intranuclear histone acetylase complex involved in transcription initiation, and with the Sac3-Thp1 complex, which functions in mRNA export with specific nuclear pore proteins at the nuclear basket. DNA macroarray analysis revealed that Sus1 is required for transcription regulation. Moreover, chromatin immunoprecipitation showed that Sus1 is associated with the promoter of a SAGA-dependent gene during transcription activation. Finally, mRNA export is impaired in sus1 mutants. These data provide an unexpected connection between the SAGA histone acetylase complex and the mRNA export machinery

Linkage of Osteoporosis to Chromosome 20p12 and Association to BMP2

Osteoporotic fractures are a major cause of morbidity and mortality in ageing populations. Osteoporosis, defined as low bone mineral density (BMD) and associated fractures, have significant genetic components that are largely unknown. Linkage analysis in a large number of extended osteoporosis families in Iceland, using a phenotype that combines osteoporotic fractures and BMD measurements, showed linkage to Chromosome 20p12.3 (multipoint allele-sharing LOD, 5.10; p value, 6.3 × 10(−7)), results that are statistically significant after adjusting for the number of phenotypes tested and the genome-wide search. A follow-up association analysis using closely spaced polymorphic markers was performed. Three variants in the bone morphogenetic protein 2 (BMP2) gene, a missense polymorphism and two anonymous single nucleotide polymorphism haplotypes, were determined to be associated with osteoporosis in the Icelandic patients. The association is seen with many definitions of an osteoporotic phenotype, including osteoporotic fractures as well as low BMD, both before and after menopause. A replication study with a Danish cohort of postmenopausal women was conducted to confirm the contribution of the three identified variants. In conclusion, we find that a region on the short arm of Chromosome 20 contains a gene or genes that appear to be a major risk factor for osteoporosis and osteoporotic fractures, and our evidence supports the view that BMP2 is at least one of these genes