Where did British Foreign Capital Go? Fundamentals, Failures and the Lucas Paradox: 1870-1913

A decade has passed since Robert Lucas asked why capital does not flow from rich to poor countries. Lucas used a contemporary example to illustrate his Paradox, the very modest flow of capital from the United States to India during the second great global capital market boom, after 1970. Had he paid more attention to the first great global capital market boom, after 1870, he might have been less surprised. Very little of British capital exports went to poor, labor-abundant countries. Indeed, about two-thirds of it went to the labor-scarce New World where only a tenth of the world's population lived, and only about a quarter of it went to labor-abundant Asia and Africa where almost two-thirds of the world's population lived. Why? Was it caused by some international market failure, or was it due to some shortfall in underlying economic, demographic or geographic fundamentals that made capital's productivity low in poor countries? This paper constructs a panel data set for 34 countries who as a group got 92 percent of British capital, and uses it to conclude that international capital market failure (including whether the country was on or off the Gold Standard) was not involved. It then ranks the three big fundamentals that mattered schooling, natural resources and demography.

Who Protected and Why? Tariffs the World Around 1870-1938

This paper uses a new database to establish a set of tariff facts that have not been well appreciated: tariff rates in Latin America were far higher than anywhere else in the century before the Great Depression; while lower than Latin America, tariffs were far higher in the European periphery and the Englishspeaking new world than they were in the European core; tariff rates rose everywhere in the periphery up to 1900, and then moderated a bit up to WWI; and the great anti-global leap during the 1930s in Latin American and the European periphery was not new policy territory since these two regions had plenty of previous experience with very high tariffs. These world tariff facts need an explanation, especially since economic historians have pretty much ignored them while devoting so much attention to Europe. As we search for the explanations, we find that modern endogenous tariff theory isn’t quite up to the task. The paper uses this world wide sample of 35 countries as a panel to explore competing hypotheses as to what drove policy in the century before WWII: revenue motivation; optimal tariffs; strategic tariffs; deindustrialization fears; Stolper-Samueson forces; and many more. The world environment mattered. Trading partners mattered. Domestic geography, factor endowments, institutions and politics mattered.

Interface design in the process industries

Every operator runs his plant in accord with his own mental model of the process. In this sense, one characteristic of an ideal man-machine interface is that it be in harmony with that model. With this theme in mind, the paper first reviews the functions of the process operator and compares them with human operators involved in control situations previously studied outside the industrial environment (pilots, air traffic controllers, helmsmen, etc.). A brief history of the operator interface in the process industry and the traditional methodology employed in its design is then presented. Finally, a much more fundamental approach utilizing a model definition of the human operator's behavior is presented

Health Risks, Past Usage, and Intention to Use Weight Loss Products in Normal Weight Women with High and Low Body Dysphoria

Objective: There are many health risks involved with the use of weight loss products by normal weight women. The mass media may compound this problem through the promotion of weight loss products and a thin body size. This study tested women\u27s perceptions of different weight loss product ads to determine if body dysphoria (i.e., an over concern with body size and shape in normal weight people) was associated with risk beliefs, past behaviors, and intention toward using weight loss products. Method: Normal weight women (age range = 18-41 yr), who were classified as either high (n=45) or low (n=43) on a measure of body dysphoria, rated different weight loss products according to their perception of health risks, past behavior, and their intention to consume the products. These products were a dietary fat substitute (olestra), a prescription obesity medication (sibutramine), and an over-the-counter appetite suppressant (phenylpropanolamine). Results: High body dysphoric women reported higher intentions to use the products as well as increased prior use of two of the three weight loss products. High body dysphoric women did not believe that these weight loss products were harmless. They recognized potential health risks associated with using such products, but nonetheless, expressed intention to use these weight loss products at a higher frequency. Also, several variables related to body image were found to effectively discriminate normal weight women at risk for abusing weight loss products. Discussion: This study found that women who do not need to lose weight but have significant body image concerns were willing to use potentially harmful weight loss products despite the knowledge that such products might pose significant health risks. Techniques utilized by advertising regulatory agencies such as warning labels did not have a strong deterrent effect for stated intentions to use the products. Implications of these findings for public health policy issues were discussed

SPEIR: Scottish Portals for Education, Information and Research. Final Project Report: Elements and Future Development Requirements of a Common Information Environment for Scotland

The SPEIR (Scottish Portals for Education, Information and Research) project was funded by the Scottish Library and Information Council (SLIC). It ran from February 2003 to September 2004, slightly longer than the 18 months originally scheduled and was managed by the Centre for Digital Library Research (CDLR). With SLIC's agreement, community stakeholders were represented in the project by the Confederation of Scottish Mini-Cooperatives (CoSMiC), an organisation whose members include SLIC, the National Library of Scotland (NLS), the Scottish Further Education Unit (SFEU), the Scottish Confederation of University and Research Libraries (SCURL), regional cooperatives such as the Ayrshire Libraries Forum (ALF)1, and representatives from the Museums and Archives communities in Scotland. Aims; A Common Information Environment For Scotland The aims of the project were to: o Conduct basic research into the distributed information infrastructure requirements of the Scottish Cultural Portal pilot and the public library CAIRNS integration proposal; o Develop associated pilot facilities by enhancing existing facilities or developing new ones; o Ensure that both infrastructure proposals and pilot facilities were sufficiently generic to be utilised in support of other portals developed by the Scottish information community; o Ensure the interoperability of infrastructural elements beyond Scotland through adherence to established or developing national and international standards. Since the Scottish information landscape is taken by CoSMiC members to encompass relevant activities in Archives, Libraries, Museums, and related domains, the project was, in essence, concerned with identifying, researching, and developing the elements of an internationally interoperable common information environment for Scotland, and of determining the best path for future progress

Time dependent spectral modeling of Markarian 421 during a violent outburst in 2010

We present the results of extensive modeling of the spectral energy distributions (SEDs) of the closest blazar (z=0.031) Markarian 421 (Mrk 421) during a giant outburst in February 2010. The source underwent rapid flux variations in both X-rays and very high energy (VHE) gamma-rays as it evolved from a low-flux state on 2010 February 13-15 to a high-flux state on 2010 February 17. During this period, the source exhibited significant spectral hardening from X-rays to VHE gamma-rays while exhibiting a "harder when brighter" behavior in these energy bands. We reproduce the broadband SED using a time-dependent multi-zone leptonic jet model with radiation feedback. We find that an injection of the leptonic particle population with a single power-law energy distribution at shock fronts followed by energy losses in an inhomogeneous emission region is suitable for explaining the evolution of Mrk 421 from low- to high-flux state in February 2010. The spectral states are successfully reproduced by a combination of a few key physical parameters, such as the maximum $\&$ minimum cutoffs and power-law slope of the electron injection energies, magnetic field strength, and bulk Lorentz factor of the emission region. The simulated light curves and spectral evolution of Mrk 421 during this period imply an almost linear correlation between X-ray flux at 1-10 keV energies and VHE gamma-ray flux above 200 GeV, as has been previously exhibited by this source. Through this study, a general trend that has emerged for the role of physical parameters is that, as the flare evolves from a low- to a high-flux state, higher bulk kinetic energy is injected into the system with a harder particle population and a lower magnetic field strength.Comment: 13 pages, 5 figures, accepted for publication in MNRA