Cyclospora cayetanensis among expatriate and indigenous populations of West Java, Indonesia.

From January 1995 through July 1998, we investigated the occurrence of Cyclospora cayetanensis infection associated with gastrointestinal illness or diarrhea in foreign residents and natives of West Java, Indonesia. We found that C. cayetanensis was the main protozoal cause of gastrointestinal illness and diarrhea in adult foreign residents during the wet season. The parasite rarely caused illness in the indigenous population or in children

The effects of financialisation and financial development on investment: Evidence from firm-level data in Europe

In this paper we estimate the effects of financialization on physical investment in selected western European countries using panel data based on the balance-sheets of publicly listed non-financial companies (NFCs) supplied by Worldscope for the period 1995-2015. We find robust evidence of an adverse effect of both financial payments (interests and dividends) and financial incomes on investment in fixed assets by the NFCs. This finding is robust for both the pool of all Western European firms and single country estimations. The negative impacts of financial incomes are non-linear with respect to the companies’ size: financial incomes crowd-out investment in large companies, and have a positive effect on the investment of only small, relatively more credit-constrained companies. Moreover, we find that a higher degree of financial development is associated with a stronger negative effect of financial incomes on companies’ investment. This finding challenges the common wisdom on ‘finance-growth nexus’. Our findings support the ‘financialization thesis’ that the increasing orientation of the non-financial sector towards financial activities is ultimately leading to lower physical investment, hence to stagnant or fragile growth, as well as long term stagnation in productivity

Digital Art as ‘Monetised Graphics:’ Enforcing Intellectual Property on the Blockchain

In a global economic landscape of hyper-commodification and financialisation, efforts to assimilate digital art into the high-stakes commercial art market have so far been rather unsuccessful, presumably because digital art works cannot easily assume the status of precious object worthy of collection. This essay explores the use of blockchain technologies in attempts to create proprietary digital art markets in which uncommodifiable digital art works are financialised as artificially scarce commodities. Using the decentralisation techniques and distributed database protocols underlying current cryptocurrency technologies, such efforts, exemplified here by the platform Monegraph, tend to be presented as concerns with the interest of digital artists and with shifting ontologies of the contemporary work of art. I challenge this characterisation, and argue, in a discussion that combines aesthetic theory, legal and philosophical theories of intellectual property, rhetorical analysis, and research in the political economy of new media, that the formation of proprietary digital art markets by emerging commercial platforms such as Monegraph constitutes a worrisome amplification of long-established, on-going efforts to fence in creative expression as private property. As I argue, the combination of blockchain-based protocols with established ambitions of intellectual property policy yields hybrid conceptual-computational financial technologies (such as self-enforcing smart contracts attached to digital artefacts) that are unlikely to empower artists, but which serve to financialise digital creative practices as a whole, curtailing the critical potential of the digital as an inherently dynamic and potentially uncommodifiable mode of production and artistic expression

Distinguishing Financialization from Neoliberalism

This article contends that neoliberalism and financialization, although sharing much in common, are not synonymous developments. Not only do strongly financialized nations display structural, economic differences, they are also directed by alternative economic epistemologies, cultures and practices. The argument is made by examining the financialization of the UK economy since the mid-1970s. This shift was not simply part of a broad transition away from Keynesianism and towards free market fundamentalism. It was also one very much guided by the particular economic paradigm, discursive practices and devices of the City of London as financial elites took up influential positions in the Thatcher government. The discussion and case example highlight five epistemological elements specific to finance: the creation of money in financial markets, the transactional focus of finance, the centrality of financial markets to economic management, the orthodoxy of shareholder value, and the intense microeconomic approach to financial calculation. Such elements, in conjuction with neoliberalism’s reliance upon finance-blind neoclassical economics, lies at the cultural and epistemological distinction between fiancialization and neoliberalism. Identifying such distinctions opens up new possibilities for understanding financialization, elites, and the neoliberal condition that brought about the financial crash of 2007-08, as well as the political and economic crises that have followed

Contradiction of quantum mechanics with local hidden variables for quadrature phase measurements on pair-coherent states and squeezed macroscopic superpositions of coherent states

We demonstrate a contradiction of quantum mechanics with local hidden variable theories for continuous quadrature phase amplitude (''position'' and ''momentum'') measurements. A contradiction is shown possible for two quantum states: a pair-coherent state, and a superpositions of two coherent states, where the superposition state has been squeezed by the action of a two-mode squeezing operator. In one case a contradiction is still possible for states of increasing photon number, though the effect becomes smaller and more difficult to observe. The high efficiency of the homodyne method of measurement of quadrature phase amplitudes may open a way for a loophole-free test of local hidden variable theories, and the effect of detection loss on the contradiction with local hidden variables is calculated. [S1050-2947(99)02208-8]

The Role of the State in the Financialisation of the UK Economy

This article looks at the role of UK governments in the financialisation of the British economy and its industry. It argues two things. First, the UK state has had a rather more active role here than most observers have acknowledged. Successive governments since the 1970s have not merely abandoned industry, they have handed much of its control to the financial sector. Second, a key part of this policy shift was linked to the rising power of the Treasury and its reshaping of the former Department of Trade and Industry in its own ideal economic policy image. This both boosted the City and disadvantaged industry, thus propelling the UK towards financialisation at a faster pace than almost all rival economies. The arguments are based on evidence from a mix of interviews with central actors, published insider accounts and an analysis of budget statements in the period 1976–2010

Moral economies of consumption

The aim of this article is twofold: first, to bring together debates about enduring normative concerns surrounding the morality of consumption with more recent concerns about the ways specific moralities are constituted in and through markets. The second aim is to develop the concept of ‘moral economy’ and call for an approach to its study, attentive to how moralities of consumption develop through interactions between instituted systems of provision, forms of state regulation, customs within communities and the everyday reflections of consumers about the things that matter to them. As consumers are increasingly asked to factor environmental and fair labour concerns into their purchase and post-purchase habits, there is a real need to understand how moralities of consumption are both formatted through institutional frameworks and shaped everyday by actors from within. After developing a framework for the study of moral economies, this article explores in depth the experiences of one couple in relation to the cessation of a cardboard recycling collection in Shropshire (England) to show why a multilevel perspective is needed to appreciate the place of morality within the market