A Theory of Political Entrepreneurship

This paper adapts the entrepreneurial theory developed by Richard Cantillon, Frank Knight, and Ludwig von Mises to the theory of “political entrepreneurship.” Political entrepreneurship is an outgrowth of the theory of the market entrepreneur, and derives from extending entrepreneurial theory from the market into the po-litical sphere of action. By applying the theory of the entrepreneur to political behavior, we provide a basis for identifying political entrepreneurs, and for separating them analytically from other government agents. The essence of political entrepreneurship is the redirection of production from the path it would have taken in an unregulated market. Nevertheless, this production does produce an income stream to political entrepre-neurs which closely resembles the profit of market entrepreneurs

Mises e Hayek Desomogeneizados

Since its revival in the early 1970s, what was called “Austrian economics” has been regarded by most of its contemporary adherents as the outgrowth of a unified tradition that can be traced back to Carl Menger. This paper challenges this view and argues that in fact two very different traditions grew out of Menger’s work. One tradition can be traced back to the works of F. A. Hayek to Friedrich Wieser, one of Menger’s most prominent followers. The other tradition stems from the writings of Menger’s other leading disciple, Eugen von Böhm-Bawerk, and includes the latter’s student Ludwig von Mises. This essay defends the thesis that these two separate traditions exist and have been confused with modern Austrians.Desde seu renascimento no início dos anos 1970, o que veio a se chamar de “Economia Austríaca” tem sido considerado, pela maior parte de seus adeptos contemporâneos, como a continuação de uma tradição unificada que pode ser rastreada até Carl Menger. Este artigo desafia essa perspectiva e argumenta que, de fato, duas tradições muito diferentes emergiram do trabalho de Menger. Uma tradição pode ser rastreada, através da obra de F. A. Hayek, a Friedrich Wieser, um dos dois seguidores mais proeminentes de Menger. A outra tradição emana dos escritos do outro discípulo principal de Menger, Eugen von Böhm-Bawerk, e inclui seu aluno Ludwig von Mises. Este ensaio defende a tese de que essas duas tradições separadas existem e foram confundidas pelos austríacos modernos

Serum potassium, calcium and magnesium after resuscitation from ventricular fibrillation: A canine study

Serum electrolytes were measured before and sequentially for 3 hours after resuscitation from ventricular fibrillation in a canine model that was designed to approximate the human cardiac arrest and resuscitation process. Twenty anesthetized dogs were resuscitated from ventricular fibrillation; 7 required epinephrine during resuscitation and 13 did not. To control for the effects of anesthesia, 10 dogs were anesthetized and instrumented, but ventricular fibrillation was not induced.Serum potassium decreased from 3.7 ± 0.3 mmol/liter at baseline to 3.2 ± 0.4 mmol/liter 45 minutes after resuscitation in the experimental dogs resuscitated without epinephrine, as compared with 3.6 ± 0.3 to 3.4 ± 0.2 mmol/liter in control dogs (p = 0.07 versus control dogs by two-way analysis of variance) and returned toward baseline at the end of 3 hours. Serum calcium decreased from 9.6 ± 0.6 mg/dl at baseline to 8.9 ± 0.9 mg/dl at 5 minutes after resuscitation as compared with 9.4 ± 0.7 to 9.5 ± 0.7 mg/dl in control dogs (p < 0.05 versus control dogs) and returned to baseline by 3 hours. Serum magnesium decreased from 1.5 ± 0.1 to 1.3 ± 0.2 mEq/dl by 3 hours in resuscitated dogs as compared with 1.6 ± 0.2 to 1.5 ± 0.2 mEq/dl in control dogs (p = 0.06 versus control dogs). These changes in serum potassium, calcium and magnesium were independent of the administration of epinephrine during the resuscitation process. Changes in potassium were independent of arterial pH or bicarbonate therapy. Serum glucose increased after ventricular fibrillation but not in control dogs (p < 0.0005 versus control). No changes in other electrolytes were observed.Thus, serum potassium, calcium and magnesium decreased after resuscitation from ventricular fibrillation in this canine model. These data suggest that, although the hypokalemia seen after ventricular fibrillation in humans may in some cases precede the event, a decrease in potassium may develop after resuscitation

Cryogenic Fluid Management Technology for Moon and Mars Missions

In support of the U.S. Space Exploration Policy, focused cryogenic fluid management technology efforts are underway within the National Aeronautics and Space Administration. Under the auspices of the Exploration Technology Development Program, cryogenic fluid management technology efforts are being conducted by the Cryogenic Fluid Management Project. Cryogenic Fluid Management Project objectives are to develop storage, transfer, and handling technologies for cryogens to support high performance demands of lunar, and ultimately, Mars missions in the application areas of propulsion, surface systems, and Earth-based ground operations. The targeted use of cryogens and cryogenic technologies for these application areas is anticipated to significantly reduce propellant launch mass and required on-orbit margins, to reduce and even eliminate storage tank boil-off losses for long term missions, to economize ground pad storage and transfer operations, and to expand operational and architectural operations at destination. This paper organizes Cryogenic Fluid Management Project technology efforts according to Exploration Architecture target areas, and discusses the scope of trade studies, analytical modeling, and test efforts presently underway, as well as future plans, to address those target areas. The target areas are: liquid methane/liquid oxygen for propelling the Altair Lander Ascent Stage, liquid hydrogen/liquid oxygen for propelling the Altair Lander Descent Stage and Ares V Earth Departure Stage, liquefaction, zero boil-off, and propellant scavenging for Lunar Surface Systems, cold helium and zero boil-off technologies for Earth-Based Ground Operations, and architecture definition studies for long term storage and on-orbit transfer and pressurization of LH2, cryogenic Mars landing and ascent vehicles, and cryogenic production via in situ resource utilization on Mars

Monopoly as a ‘culture-history fact’: Knight, Menger, and the role of institutions

Frank Knight's theory of monopoly price has received relatively little attention in the literature on Risk, Uncertainty and Profit. We argue that Knight accepted and refined the monopoly price theory of Carl Menger and his followers. Knight highlights the difference between monopoly as an inevitable outcome of departures from perfect competition, and monopoly as a contingent or ‘culture-history fact’. In the latter case, coercive institutional barriers to potential competition shape the choice set of consumers and producers, and provide a crucial method for identifying monopoly gains. There are three benefits to this account of Knight's contributions: it rehabilitates the focus on the institutional determinants of monopoly price, as opposed to the mainstream emphasis on market frictions and imperfections; it opens the way for a Mengerian monopoly price theory that seriously engages the study of institutions; and it adds new evidence and nuance to ongoing debates about Knight's place in economics

Primary results of long-term outcomes in the MOMENTUM 3 pivotal trial and continued access protocol study phase: a study of 2200 HeartMate 3 left ventricular assist device implants

AIM: The MOMENTUM 3 pivotal trial established superiority of the HeartMate 3 (HM3) left ventricular assist device (LVAD), a fully magnetically levitated centrifugal-flow pump, over the HeartMate II axial-flow pump. We now evaluate HM3 LVAD outcomes in a single-arm prospective continuous access protocol (CAP) post-pivotal trial study. METHODS AND RESULTS: We enrolled 2200 HM3 implanted patients (515 pivotal trial and 1685 CAP patients) and compared outcomes including survival free of disabling stroke or reoperation to replace or remove a malfunctioning device (primary composite endpoint), overall survival and major adverse events at 2 years. The 2-year primary endpoint [76.7% vs. 74.8%; adjusted hazard ratio (HR) 0.87, 95% confidence interval (CI) 0.71-1.08, P = 0.21] and overall survival (81.2% vs. 79.0%) were similar among CAP and pivotal cohorts despite sicker patients (more intra-aortic balloon pump use and INTERMACS profile 1) in CAP who were more often intended for destination therapy. Survival was similar between the CAP and pivotal trial in transplant ineligible patients (79.1% vs. 76.7%; adjusted HR 0.89, 95% CI 0.68-1.16, P = 0.38). In a pooled analysis, the 2-year primary endpoint was similar between INTERMACS profiles 1-2 (\u27unstable\u27 advanced heart failure), profile 3 (\u27stable\u27 on inotropic therapy), and profiles 4-7 (\u27stable\u27 ambulatory advanced heart failure) (75.7% vs. 77.6% vs. 72.9%, respectively). The net burden of adverse events was lower in CAP (adjusted rate ratio 0.93, 95% CI 0.88-0.98, P = 0.006), with consequent decrease in hospitalization. CONCLUSIONS: The primary results of accumulating HM3 LVAD experience suggest a lower adverse event burden and similar survival compared to the pivotal MOMENTUM 3 trial