Reciprocity as a foundation of financial economics

This paper argues that the subsistence of the fundamental theorem of contemporary financial mathematics is the ethical concept ‘reciprocity’. The argument is based on identifying an equivalence between the contemporary, and ostensibly ‘value neutral’, Fundamental Theory of Asset Pricing with theories of mathematical probability that emerged in the seventeenth century in the context of the ethical assessment of commercial contracts in a framework of Aristotelian ethics. This observation, the main claim of the paper, is justified on the basis of results from the Ultimatum Game and is analysed within a framework of Pragmatic philosophy. The analysis leads to the explanatory hypothesis that markets are centres of communicative action with reciprocity as a rule of discourse. The purpose of the paper is to reorientate financial economics to emphasise the objectives of cooperation and social cohesion and to this end, we offer specific policy advice

Antimalarial Therapy Selection for Quinolone Resistance among Escherichia coli in the Absence of Quinolone Exposure, in Tropical South America

BACKGROUND: Bacterial resistance to antibiotics is thought to develop only in the presence of antibiotic pressure. Here we show evidence to suggest that fluoroquinolone resistance in Escherichia coli has developed in the absence of fluoroquinolone use. METHODS: Over 4 years, outreach clinic attendees in one moderately remote and five very remote villages in rural Guyana were surveyed for the presence of rectal carriage of ciprofloxacin-resistant gram-negative bacilli (GNB). Drinking water was tested for the presence of resistant GNB by culture, and the presence of antibacterial agents and chloroquine by HPLC. The development of ciprofloxacin resistance in E. coli was examined after serial exposure to chloroquine. Patient and laboratory isolates of E. coli resistant to ciprofloxacin were assessed by PCR-sequencing for quinolone-resistance-determining-region (QRDR) mutations. RESULTS: In the very remote villages, 4.8% of patients carried ciprofloxacin-resistant E. coli with QRDR mutations despite no local availability of quinolones. However, there had been extensive local use of chloroquine, with higher prevalence of resistance seen in the villages shortly after a Plasmodium vivax epidemic (p<0.01). Antibacterial agents were not found in the drinking water, but chloroquine was demonstrated to be present. Chloroquine was found to inhibit the growth of E. coli in vitro. Replica plating demonstrated that 2-step QRDR mutations could be induced in E. coli in response to chloroquine. CONCLUSIONS: In these remote communities, the heavy use of chloroquine to treat malaria likely selected for ciprofloxacin resistance in E. coli. This may be an important public health problem in malarious areas

A method to evaluate equitable accessibility: combining ethical theories and accessibility-based approaches

In this paper, we present the case that traditional transport appraisal methods do not sufficiently capture the social dimensions of mobility and accessibility. However, understanding this is highly relevant for policymakers to understand the impacts of their transport decisions. These dimensions include the distribution of mobility and accessibility levels over particular areas or for specific population groups, as well as how this may affect various social outcomes, including their levels of participation, social inclusion and community cohesion. In response, we propose a method to assess the socially relevant accessibility impacts (SRAIs) of policies in some of these key dimensions. The method combines the use of underlying ethics principles, more specifically the theories of egalitarianism and sufficientarianism, in combination with accessibility-based analysis and the Lorenz curve and Gini index. We then demonstrate the method in a case study example. Our suggestion is that policymakers can use these ethical perspectives to determine the equity of their policies decisions and to set minimum standards for local transport delivery. This will help them to become more confident in the development and adoption of new decision frameworks that promote accessibility over mobility and which also disaggregate the costs and benefits of transport policies over particular areas or for specific under-served population groups

The Early Literacy Project: Final milestone report

The main purpose of this longitudinal research project was to provide professional learning and development (PLD) workshops and associated materials for teachers of New Entrant/Year 1 students, and to assess the impact of the workshops on the literacy learning outcomes of students in Year 1 and beyond. The workshops focussed on providing teachers with the knowledge and skills to adopt explicit and systematic word-decoding teaching strategies in their literacy instruction. Effective word decoding skills are a necessary requirement for success in learning to read. The project commenced in February 2015 and concluded in July 2017. A total of 729 students from 39 schools in the lower North Island participated in the project. Schools were randomly allocated to either an “intervention” group or a “comparison” group. Attrition, the withdrawal of one school, and incomplete data reduced the number of students included in the various analyses. Teachers who had some involvement with students in the project, either as a participating project teacher, a comparison school teacher, or as a classroom teacher in following years, numbered 288

Infrastructure and regional growth, growth dynamics and policy relevance for India

R11, R53, R58,

Sexual Orientation and Labor Market Discrimination

Wage discrimination, Sex orientation, Gay,