An uncertain dollar: The Wall Street Journal, the New York Times and the monetary crisis of 1971 to 1973

In August 15, 1971, President Nixon announced the unilateral suspension of the convertibility of the dollar into gold, a foundation of the world monetary system since the Second World War. The media and economic experts were caught by surprise, neither could foresee the immediate consequences of the decision or what would be the architecture of the emerging international monetary system. From 1971 to 1973, the money markets and the value of the dollar became a news, an opinion, an editorial item in both the New York Times and the Wall Street Journal. I examine this record to question how was anxiety about the dollar resolved in media communication? Media narratives were not uniform between and within the two newspapers. What distinguished the Times and Journal's coverage was their diverse framing of the dollar as political, financial or economic object. I conclude that media uncertainty about the dollar was less an outcome of failing expert knowledge as it was a consequence of the dollar's multiple cultural significations.Economic Journalism, dollar, Smithsonian, Nixon shock, media narratives

Average diagonal entropy in non-equilibrium isolated quantum systems

The diagonal entropy was introduced as a good entropy candidate especially for isolated quantum systems out of equilibrium. Here we present an analytical calculation of the average diagonal entropy for systems undergoing unitary evolution and an external perturbation in the form of a cyclic quench. We compare our analytical findings with numerical simulations of various many-body quantum systems. Our calculations elucidate various heuristic relations proposed recently in the literature.Comment: 5 pages + 4 page "Supplemental material", 2 figure

Pair quenched mean-field theory for the susceptible-infected-susceptible model on complex networks

We present a quenched mean-field (QMF) theory for the dynamics of the susceptible-infected-susceptible (SIS) epidemic model on complex networks where dynamical correlations between connected vertices are taken into account by means of a pair approximation. We present analytical expressions of the epidemic thresholds in the star and wheel graphs and in random regular networks. For random networks with a power law degree distribution, the thresholds are numerically determined via an eigenvalue problem. The pair and one-vertex QMF theories yield the same scaling for the thresholds as functions of the network size. However, comparisons with quasi-stationary simulations of the SIS dynamics on large networks show that the former is quantitatively much more accurate than the latter. Our results demonstrate the central role played by dynamical correlations on the epidemic spreading and introduce an efficient way to theoretically access the thresholds of very large networks that can be extended to dynamical processes in general.Comment: 6 pages, 6 figure