Capital Destruction and Economic Growth: The Effects of Sherman’s March, 1850-1920

Working paper.Using General William Sherman’s 1864--65 military march through Georgia, South Carolina, and North Carolina during the American Civil War, this paper studies the effect of capital destruction on short- and long-run local economic activity, and the role of financial markets in the recovery process. We match an 1865 US War Department map of Sherman’s march to county-level demographic, agricultural, and manufacturing data from the 1850–1920 US Censuses. We show that the capital destruction induced by the March led to a large contraction in agricultural investment, farming asset prices, and manufacturing activity. Elements of the decline in agriculture persisted through 1920. Using information on local banks and access to credit, we argue that the underdevelopment of financial markets played a role in weakening the recovery

Local structure of intercomponent energy transfer in homogeneous turbulent shear flow

Intercomponent energy transfer by pressure-strain-rate was investigated for homogeneous turbulent shear flow. The rapid and slow parts of turbulent pressure (decomposed according to the influence of the mean deformation rate) are found to be uncorrelated; this finding provides strong justification for current modeling procedure in which the pressure-strain-rate term is split into the corresponding parts. Issues pertinent to scales involved in the intercomponent energy transfer are addressed in comparison with those for the Reynolds-stress and vorticity fields. A physical picture of the energy transfer process is described from a detailed study of instantaneous events of high transfer regions. It was found that the most significant intercomponent energy transfer events are highly localized in space and are imbedded within a region of concentrated vorticity

Pressure-strain-rate events in homogeneous turbulent shear flow

A detailed study of the intercomponent energy transfer processes by the pressure-strain-rate in homogeneous turbulent shear flow is presented. Probability density functions (pdf's) and contour plots of the rapid and slow pressure-strain-rate show that the energy transfer processes are extremely peaky, with high-magnitude events dominating low-magnitude fluctuations, as reflected by very high flatness factors of the pressure-strain-rate. A concept of the energy transfer class was applied to investigate details of the direction as well as magnitude of the energy transfer processes. In incompressible flow, six disjoint energy transfer classes exist. Examination of contours in instantaneous fields, pdf's and weighted pdf's of the pressure-strain-rate indicates that in the low magnitude regions all six classes play an important role, but in the high magnitude regions four classes of transfer processes, dominate. The contribution to the average slow pressure-strain-rate from the high magnitude fluctuations is only 50 percent or less. The relative significance of high and low magnitude transfer events is discussed

Selective Equal-Spin Andreev Reflections Induced by Majorana Fermions

In this work, we find that Majorana fermions induce selective equal spin Andreev reflections (SESARs), in which incoming electrons with certain spin polarization in the lead are reflected as counter propagating holes with the same spin. The spin polarization direction of the electrons of this Andreev reflected channel is selected by the Majorana fermions. Moreover, electrons with opposite spin polarization are always reflected as electrons with unchanged spin. As a result, the charge current in the lead is spin-polarized. Therefore, a topological superconductor which supports Majorana fermions can be used as a novel device to create fully spin-polarized currents in paramagnetic leads. We point out that SESARs can also be used to detect Majorana fermions in topological superconductors.Comment: 5 pages, 3 figures. Comments are welcome. Title changed to match published versio

An empirical study of electricity and gas demand drivers in large food retail buildings of a national organisation

AbstractFood retail buildings account for a measurable proportion of a country's energy consumption and resultant carbon emissions so energy-operating costs are key business considerations. Increased understanding of end-use energy demands in this sector can enable development of effective benchmarking systems to underpin energy management tools. This could aid identification and evaluation of interventions to reduce operational energy demand. Whilst there are a number of theoretical and semi-empirical benchmarking and thermal modelling tools that can be used for food retail building stocks, these do not readily account for the variance of technical and non-technical factors that can influence end-use demands.This paper discusses the various drivers of energy end-uses of typical UK food retail stores. It reports on an empirical study of one organisation's hypermarket stock to evaluate the influence of various factors on annual store electricity and gas demands. Multiple regression models are discussed in the context of the development and application of a methodology for estimating annual energy end-use demand in food retail buildings. The established models account for 75% of the variation in electricity demand, 50% of the variation in gas demand in stores without CHP and 77% of the variation in gas demand in stores with CHP