Betting on Hitler: The value of political connections in Nazi Germany

This paper examines the value of connections between German industry and the Nazi movement in early 1933. Drawing on previously unused contemporary sources about management and supervisory board composition and stock returns, we find that one out of seven firms, and a large proportion of the biggest companies, had substantive links with the National Socialist German Workers’ Party. Firms supporting the Nazi movement experienced unusually high returns, outperforming unconnected ones by 5% to 8% between January and March 1933. These results are not driven by sectoral composition and are robust to alternative estimators and definitions of affiliation.Political Connections, Stock Market, Asset Pricing, Nazi Rise to Power, Interwar Germany

No. 04: The Urban Food System of Kingston, Jamaica

Kingston is a colonial city and, like the country of Jamaica more generally, was the product of early mercantilism moulded by colonialism, sugar plantations and slavery. As Jamaica’s capital, Kingston is an economic and administrative hub with a social geography marked by many of the characteristic fissures of emerging cities in transition economies. Its population is fed by a combination of food imports and domestic production from agricultural areas across the island. The key trading point for fresh produce flows into Kingston is Coronation Market in the city centre. Between 60% and 70% of fruit and vegetables arriving at Coronation Market are re-distributed through other wholesale markets in and around Kingston. Domestically produced foods flow into Kingston largely through Jamaica’s higgler system. These informal vendors perform many functions as market intermediaries, including trade, harvesting, post-harvest processing, re-distribution and sales. Jamaicans spend an average of 43% of their income on food; a figure significantly influenced by price shocks. Some of these shocks are the result of severe weather conditions, including cyclones with excessive rains as well as drought. While there is a strong preference for domestically produced goods, cheaper prices and perceived safety of imports entice consumers. Jamaica has also moved increasingly towards a higher fat, more refined diet, resulting in higher rates of obesity and nutrition-related chronic diseases

Relevant Logics Obeying Component Homogeneity

This paper discusses three relevant logics that obey Component Homogeneity - a principle that Goddard and Routley introduce in their project of a logic of significance. The paper establishes two main results. First, it establishes a general characterization result for two families of logic that obey Component Homogeneity - that is, we provide a set of necessary and sufficient conditions for their consequence relations. From this, we derive characterization results for S*fde, dS*fde, crossS*fde. Second, the paper establishes complete sequent calculi for S*fde, dS*fde, crossS*fde. Among the other accomplishments of the paper, we generalize the semantics from Bochvar, Hallden, Deutsch and Daniels, we provide a general recipe to define containment logics, we explore the single-premise/single-conclusion fragment of S*fde, dS*fde, crossS*fdeand the connections between crossS*fde and the logic Eq of equality by Epstein. Also, we present S*fde as a relevant logic of meaninglessness that follows the main philosophical tenets of Goddard and Routley, and we briefly examine three further systems that are closely related to our main logics. Finally, we discuss Routley's criticism to containment logic in light of our results, and overview some open issues

Biomechanics of the aging spine

The human spine is composed of highly specific tissues and structures, which together provide the extensive range of motion and considerable load carrying capacity required for the physical activities of daily life. Alterations to the form and composition of the individual structures of the spine with increasing age can increase the risk of injury and can have a profound influence on the quality of life. Cancellous bone forms the structural framework of the vertebral body. Individual trabeculae are oriented along the paths of principal forces and play a crucial role in the transfer of the predominantly compressive forces along the spine. Age-related changes to the cancellous core of the vertebra includes a loss of bone mineral density, as well as morphological changes including trabecular thinning, increased intratrabecular spacing, and loss of connectivity between trabeculae. Material and morphological changes may lead to an increased risk of vertebral fracture. The vertebral endplate serves the dual role of containing the adjacent disc and evenly distributing applied loads to the underlying cancellous bone and the cortex of the vertebra. With aging, thinning of the endplate, and loss of bone mineral density increases the risk of endplate fracture. Ossification of the endplate may have consequences for the nutritional supply and hydration of the intervertebral disc. The healthy intervertebral disc provides mobility to the spine and transfers load via hydrostatic pressurization of the hydrated nucleus pulposus. Changes to the tissue properties of the disc, including dehydration and reorganization of the nucleus and stiffening of the annulus fibrosus, markedly alter the mechanics of load transfer in the spine. There is no direct correlation between degenerative changes to the disc and to the adjacent vertebral bodies. Furthermore, advancing age is not the sole factor in the degeneration of the spine. Further study is crucial for understanding the unique biomechanical function of the aging spin