Spatial equity and cultural participation: how access influences attendance at museums and galleries in London

This paper addresses how neighbourhoods operate as opportunity structures for cultural participation, and therefore how unequal access to cultural facilities might influence levels of participation and profiles of participants. The neighbourhood effects literature identifies how where people live shapes their lives, including their participation in various activities, but this has not been applied to cultural participation. Sociological theory explores the importance of social stratification of cultural consumption, but has largely ignored the role of place. In this paper sociological explanations of cultural participation are extended to incorporate the influence of access to cultural infrastructure. An innovative accessibility index for museums and galleries in London, using online searches to weight their attraction, is linked to the Taking Part Survey, and used to predict attendance. Alongside social stratification, significant neighbourhood characteristics are identified, including, importantly, access to museums and galleries. Improved access has a strong positive relationship with attendance, which varies according to qualifications and ethnic group: those with degrees are most likely to attend, but the relationship with access also operates for those with fewer qualifications, who according to traditional explanations have little disposition to attend. The implications of the substantial spatial inequity in investment in museums and galleries are discussed.PostprintPeer reviewe

Hemiptera of Mauritius

Imperial Users onl

Negotiating the Lender of Last Resort: The 1913 Federal Reserve Act as a Debate over Credit Distribution

“Lending of last resort” is one of the key powers of central banks. As a lender of last resort, the Federal Reserve (the “Fed”) famously supports commercial banks facing distressed liquidity conditions, thereby mitigating destabilizing bank runs. Less famously, lender-of-last-resort powers also influence the distribution of credit among different groups in society and therefore have high stakes for economic inequality. The Fed’s role as a lender of last resort witnessed an unprecedented expansion during the 2007–2009 Crisis when the Fed invoked emergency powers to lend to a new set of borrowers known as “shadow banks”. The decision proved controversial and spurred legislative reform narrowing the Fed’s authority as well as an ongoing scholarly debate. Participants in this debate, the Article argues, limited their focus to financial stability considerations, thereby neglecting those powers’ considerable distributive implications. This Article contributes to the current literature by demonstrating the distributive stakes of lender-of-last-resort powers through a concrete historical example: the legislative debate around the 1913 Federal Reserve Act that established the Fed. During that time, three different groups debated the legal definition of “eligible collateral” that the Fed could accept from borrowers to secure emergency loans. The first group was corporate financiers, who were interested in supporting capital markets. The second group was the Democratic framers of the Act, who tried to divert credit away from corporate securities and into small businesses. The third group was farmers that needed credit for developing the agrarian periphery. I argue that each of these groups tried to shape the definition of eligible collateral in ways that would promote that group’s unique credit needs and reduce its borrowing costs. For us today, this history is an invitation to reconsider the distributive implications of the current lender-of-last-resort powers and revise them accordingly

Money Creation and Bank Clearing

Like many other countries, the U.S. money supply consists primarily of deposits created by private commercial banks. How we understand bank money creation matters enormously. We are currently witnessing a debate between two competing understandings. On the one hand, a long-standing conventional view argues that bank money creation originates in individual market transactions. Based on this understanding, the conventional view narrowly limits the scope of banking regulation to market failure correction. On the other hand, authors in a new legal literature emphasize the public aspects of bank money creation, characterizing it as a “public franchise,” a “public-private partnership,” and part of the “social contract.” This new legal literature has a broader vision of banking regulation, and has raised ambitious proposals in areas including financial stability, civil rights, climate action, and financial technology. This Article bridges a gap in the new literature that has held it back from achieving its full potential. While the new literature recognizes bank money creation as public in important ways, it has dedicated little attention to the question of how banks are able to engage in money creation in the first place, thereby leaving key aspects of the conventional account unchallenged. The Article fills this gap by focusing on the process of clearing, through which banks pay trillions of dollars in obligations they owe each other every day. To assess the conventional account, the Article presents a case study of daily clearing practice in an environment that seems as market driven as possible: the New York Clearing House Association prior to the creation of the Federal Reserve system. Building on novel primary sources, the case study demonstrates that daily clearing presented NYCHA banks with serious challenges. Addressing these challenges required governance both at the level of the state, and through bank cooperation on nonmarket terms. These findings expand our understanding of how bank money creation occurs and how it should be regulated

CD44 acts as a signaling platform controlling tumor progression and metastasis

Members of the CD44 family of transmembrane glycoproteins emerge as major signal transduction control units. CD44 isoforms participate in several signaling pathways ranging from growth factor-induced signaling to Wnt-regulated pathways. The role of the CD44 family members in tumor progression and metastasis is most likely linked to the function of the various isoforms as signaling hubs. Increasing evidence suggests that these proteins are not solely cancer stem cell (CSC) markers but are directly involved in tumor and metastasis initiation. It is foreseeable that a link between the expression of CD44 isoforms in CSCs and their function as signaling regulators will be drawn in a near future

Public Purpose Finance: The Government\u27s Role as Lender

This Article explores the workings of Public Purpose Finance, and its role within the U.S. political economy. “Public Purpose Finance” (PPF) refers to the broad range of institutions through which the government extends credit to private borrowers in sectors like housing, education, agriculture and small business. At a total of $10 trillion, PPF roughly equals the entire U.S. corporate bond market, and is around one half of the U.S. Gross national debt (2018 figures). The Article begins by surveying and quantifying the scope of PPF. It then demonstrates that PPF enjoys a considerable degree of insulation from the federal budgetary process. The heart of the Article is an attempt to explain the political logic behind the off-budget treatment that PPF enjoys. In a nutshell, while ordinary budget spending is ultimately funded through taxes levied across the tax base, government lending is funded through loan repayment by the borrowers themselves (A model formalizing these claims is available in the Appendix). This off-budget treatment makes PPF a powerful tool for upward mobility, but it also creates a democratic deficit, and has long been a driver of racial inequality. A key theme of the Article is the need to maintain the off-budget treatment, while developing alternative modes of political participation. Government lending, like the budget, should become a key tool for society to formulate its economic agenda

Negotiating the Lender of Last Resort: The 1913 Federal Reserve Act as a Debate over Credit Distribution

“Lending of last resort” is one of the key powers of central banks. As a lender of last resort, the Federal Reserve (the “Fed”) famously supports commercial banks facing distressed liquidity conditions, thereby mitigating destabilizing bank runs. Less famously, lender-of-last-resort powers also influence the distribution of credit among different groups in society and therefore have high stakes for economic inequality. The Fed’s role as a lender of last resort witnessed an unprecedented expansion during the 2007–2009 Crisis when the Fed invoked emergency powers to lend to a new set of borrowers known as “shadow banks”. The decision proved controversial and spurred legislative reform narrowing the Fed’s authority as well as an ongoing scholarly debate. Participants in this debate, the Article argues, limited their focus to financial stability considerations, thereby neglecting those powers’ considerable distributive implications. This Article contributes to the current literature by demonstrating the distributive stakes of lender-of-last-resort powers through a concrete historical example: the legislative debate around the 1913 Federal Reserve Act that established the Fed. During that time, three different groups debated the legal definition of “eligible collateral” that the Fed could accept from borrowers to secure emergency loans. The first group was corporate financiers, who were interested in supporting capital markets. The second group was the Democratic framers of the Act, who tried to divert credit away from corporate securities and into small businesses. The third group was farmers that needed credit for developing the agrarian periphery. I argue that each of these groups tried to shape the definition of eligible collateral in ways that would promote that group’s unique credit needs and reduce its borrowing costs. For us today, this history is an invitation to reconsider the distributive implications of the current lender-of-last-resort powers and revise them accordingly

Initial B Cell Activation Induces Metabolic Reprogramming and Mitochondrial Remodeling.

B lymphocytes provide adaptive immunity by generating antigen-specific antibodies and supporting the activation of T cells. Little is known about how global metabolism supports naive B cell activation to enable an effective immune response. By coupling RNA sequencing (RNA-seq) data with glucose isotopomer tracing, we show that stimulated B cells increase programs for oxidative phosphorylation (OXPHOS), the tricarboxylic acid (TCA) cycle, and nucleotide biosynthesis, but not glycolysis. Isotopomer tracing uncovered increases in TCA cycle intermediates with almost no contribution from glucose. Instead, glucose mainly supported the biosynthesis of ribonucleotides. Glucose restriction did not affect B cell functions, yet the inhibition of OXPHOS or glutamine restriction markedly impaired B cell growth and differentiation. Increased OXPHOS prompted studies of mitochondrial dynamics, which revealed extensive mitochondria remodeling during activation. Our results show how B cell metabolism adapts with stimulation and reveals unexpected details for carbon utilization and mitochondrial dynamics at the start of a humoral immune response

Introduction

Peer Reviewedhttp://deepblue.lib.umich.edu/bitstream/2027.42/68234/2/10.1177_002188637401000301.pd