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BIS Working Papers No 136 the Price Level, Relative Prices and Economic Stability: Aspects of the Interwar Debate by David Laidler* Monetary and Economic Department
BIS Working Papers No 136 The price level, relative prices and economic stability: aspects of the interwar debate by David Laidler* Monetary and Economic Department September 2003 * University of Western Ontario Abstract Recent financial instability has called into question the sufficiency of low inflation as a goal for monetary policy. This paper discusses interwar literature bearing on this question. It begins with theories of the cycle based on the quantity theory, and their policy prescription of price stability supported by lender of last resort activities in the event of crises, arguing that their neglect of fluctuations in investment was a weakness. Other approaches are then taken up, particularly Austrian theory, which stressed the banking system’s capacity to generate relative price distortions and forced saving. This theory was discredited by its association with nihilistic policy prescriptions during the Great Depression. Nevertheless, its core insights were worthwhile, and also played an important part in Robertson’s more eclectic account of the cycle. The latter, however, yielded activist policy prescriptions of a sort that were discredited in the postwar period. Whether these now need re-examination, or whether a low-inflation regime, in which the authorities stand ready to resort to vigorous monetary expansion in the aftermath of asset market problems, is adequate to maintain economic stability is still an open question. BIS Working Papers are written by members of the Monetary and Economic Department of the Bank for International Settlements, and from time to time by other economists, and are published by the Bank. The views expressed in them are those of their authors and not necessarily the views of the BIS. -
WINTER 2015 Journal of Austrian Economics
The VOL. 18 | NO . 4 QUARTERLY WINTER 2015 JOURNAL of AUSTRIAN ECONOMICS ARTICLES The Efficient Market Conjecture . 387 Ricardo E. Campos Dias de Sousa and David Howden The Austrian Business Cycle Theory: A Defense of Its General Validity . 409 Mihai Macovei Division of Labor and Society: The Social Rationalism of Mises and Destutt de Tracy . 436 Carmen Elena Dorobăţ From Marshallian Partial Equilibrium to Austrian General Equilibrium: The Evolution of Rothbard’s Production Theory . 456 Patrick Newman Man, Economy and State, Original Chapter 5: Producer’s Activity . 487 Murray N. Rothbard Book Review: Doing Bad by Doing Good: Why Humanitarian Action Fails By Chris Coyne . 562 Jason E. Jewell Book Review: Exploring Capitalist Fiction: Business through Literature and Film By Edward W. Younkins . 568 Shawn Ritenour Book Review: Contending Perspective in Economics: A Guide to Contemporary Schools of Thought By John T. Harvey . 572 Mark Thornton Book Review: Finance Behind the Veil of Money: An Essay on the Economics of Capital, Interest, and the Financial Market By Eduard Braun . 578 David Howden FOUNDING EDITOR (formerly The Review of Austrian Economics), Murray N. Rothbard (1926–1995) EDITOR, Joseph T. Salerno, Pace University BOOK REVIEW EDITOR, Mark Thornton, Ludwig von Mises Institute ASSISTANT EDITOR, Timothy D. Terrell, Wofford College EDITORIAL BOARD D.T. Armentano, Emeritus, University of Hartford Randall G. Holcombe, Florida State University James Barth, Auburn University Hans-Hermann Hoppe, Emeritus, UNLV Robert Batemarco, Pace University Jesús Huerta de Soto, Universidad Rey Juan Carlos Walter Block, Loyola University Jörg Guido Hülsmann, University of Angers Donald Bellante, University of South Florida Peter G. -
The Sleepy Hollow Experience
Contact: Ryan Oliveti, Artistic Associate 770-463-1110 | [email protected] FOR IMMEDIATE RELEASE: Serenbe Playhouse Presents THE SLEEPY HOLLOW EXPERIENCE Now In Its 5th SOLD OUT Year A New Adaptation by Brian Clowdus With Dialogue Assistance by Rachel Teagle Direction by Ryan Oliveti September 28th – November 5th Atlanta (September 2017) – Serenbe Playhouse, recipient of the prestigious American Theatre Wing grant, and recently honored with the most Suzi Bass Awards for a musical in Atlanta (Miss Saigon), is pleased to present THE SLEEPY HOLLOW EXPEREINCE. Directed by Ryan Oliveti, the show opens on September 28th and runs to November 5th. THE SLEEPY HOLLOW EXPERIENCE will be produced at The Horseman’s Meadow in Serenbe. ABOUT THE SLEEPY HOLLOW EXPERIENCE As autumn cools the steaming earth and leaves begin to turn, we’re bringing back our favorite fall fright fest: The Sleepy Hollow Experience. Following four sold out seasons and recognition as one of the ‘Top Five Halloween Plays in the Country’ by American Theatre Magazine, patrons will enjoy a fresh adaptation by Serenbe Playhouse’s Brian Clowdus. This immersive Halloween experience is sure to have heads rolling. “It is hard to believe that we are entering our fifth year of The Sleepy Hollow Experience,” says Oliveti. “It feels like just yesterday that Brian Clowdus was on my phone asking me to Assistant Direct the very first production of this show. I never would have guessed that 5 years later I’d be standing in a field ready to remount this tale. I could not be more excited for its return and its lasting legacy as an Atlanta Halloween tradition.” BRAND NEW THIS YEAR, The Sleepy Hollow Experience is going family friendly each Sunday in October at 2pm! Join us starting at 1pm for fall activities including: a pumpkin patch, pumpkin decorating, s’more making, fall games, food & drink. -
Donald Heald Rare Books a Selection of Rare Books
Donald Heald Rare Books A Selection of Rare Books Donald Heald Rare Books A Selection of Rare Books Donald Heald Rare Books 124 East 74 Street New York, New York 10021 T: 212 · 744 · 3505 F: 212 · 628 · 7847 [email protected] www.donaldheald.com Fall 2015 Americana: Items 1 - 28 Travel and Cartography: Items 29 - 51 Natural History: Items 52 - 76 Color Plate & Illustrated: Items 77 - 91 Miscellany: Items 92 - 100 All purchases are subject to availability. All items are guaranteed as described. Any purchase may be returned for a full refund within ten working days as long as it is returned in the same condition and is packed and shipped correctly. The appropriate sales tax will be added for New York State residents. Payment via U.S. check drawn on a U.S. bank made payable to Donald A. Heald, wire transfer, bank draft, Paypal or by Visa, Mastercard, American Express or Discover cards. AMERICANA 1 [AFRICAN AMERICANA] - Worthington G. SNETHEN. The Black Code of the District of Columbia in Force September 1st, 1848. New York: The A[merican] and F[oreign] Anti-Slavery Society, 1848. 8vo (8 5/8 x 5 1/4 inches). 61, [1, blank], [1], [1, blank] pp. Ad leaf in rear. Expertly bound to style in half black morocco over period marbled paper covered boards. Rare printing of the antebellum laws relating to African Americans in Washington, D.C. The author, a Washington D.C. attorney and the former solicitor of the General Land Office, notes on an advertisement leaf in the rear that he has “nearly completed the Black Code of each of the States of the Union. -
An Early Harvard Memorandum on Anti-Depression Policies.1
An Early Harvard Memorandum on anti-Depression Policies.1 Introductory Note by David Laidler (University of Western Ontario) and Roger Sandilands (University of Strathclyde) 1The typescript whose text is reproduced below is from Box 12, Folder 29, Harry Dexter White Papers, Seeley G. Mudd Manuscript Library, Princeton University Library. Published with permission of Princeton University Library. Its title, authorship and date are written at the top of its first page, in handwriting identified by Bruce Craig and Sandilands as that of White. 1 The Memorandum’s Authors and Their Message The Memorandum which this note introduces was completed by three young members of the Harvard economics department sometime in January 1932 Two of them, Lauchlin Currie and Harry Dexter White were soon to play key roles on the American, indeed the world-wide, policy scene. Both of them would go to Washington in 1934 as founding members of Jacob Viner’s “Freshman Brains Trust”. In due course, first at the Federal Reserve Board, and later at the Treasury and the White House, Currie would become a highly visible and leading advocate of expansionary fiscal policy, while White, at the Treasury, was to be a co-architect, with Keynes, of the Bretton Woods system. Both would fall victim to anti-communist witch-hunts in the late 1940s, in White’s case perhaps at the cost of his life, since he died of a heart attack in 1948 three days after a strenuous hearing before the House Committee on Unamerican Activities (HUAC). The third author, P. T. Ellsworth, later a Professor -
1 the MAKING of INDEX NUMBERS in the EARLY 1920S
THE MAKING OF INDEX NUMBERS IN THE EARLY 1920s: A CLOSER LOOK AT THE FISHER–MITCHELL DEBATE Felipe Almeida Victor Cruz e Silva Universidade Federal do Paraná Universidade Estadual de Ponta Grossa Área 1 - História do Pensamento Econômico e Metodologia RESUMO O surgimento sistemático da abordagem axiomática dos números de índice ocorreu no início dos anos 1920, um período marcado pelo pluralismo na academia econômic estadunidense. Promovida por Irving Fisher, a abordagem axiomática dos números de índice teve como objetivo selecionar uma fórmula ideal universalmente válida para números de índice, empregando uma série de testes estatísticos. No entanto, desde a primeira apresentação da abordagem de Fisher, no Encontro Anual da Associação Estadunidense de Estatística em 1920, até a publicação de seu livro “The Making of Index Numbers” em 1922, Fisher enfrentou uma série de críticas, não endereçadas à sua fórmula ideal propriamente dita, mas à própria idéia de uma fórmula universal para números de índice. Os principais indivíduos envolvidos nesse debate foram Wesley Mitchell, Warren Persons, Correa Walsh (que foi o único que apoiou a proposta de Fisher) e Allyn Young. Entre eles, o principal representante dos antagonistas de Fisher era Mitchell. Este estudo argumenta que as divergências entre Fisher e Mitchell resultam de seus distintos entendimentos da economia como uma "ciência". Portanto, o objetivo deste estudo é ilustrar como Fisher, como economista matemático, privilegiou a universalidade das teorias econômicas, enquanto Mitchell, como institucionalista, entendeu a economia como uma disciplina contextual e histórica e como essas preconcepções estão presentes no debate sobre números de índice. Para ilustrar suas posições, este estudo explora evidências baseadas em arquivo. -
Washington University School of Medicine Bulletin, 1913
Washington University School of Medicine Digital Commons@Becker Washington University School of Medicine Washington University Publications Bulletins 1913 Washington University School of Medicine bulletin, 1913 Follow this and additional works at: http://digitalcommons.wustl.edu/med_bulletins Recommended Citation Washington University School of Medicine bulletin, 1913. Central Administration, Publications. Bernard Becker Medical Library Archives. Washington University School of Medicine, Saint Louis, Missouri. http://digitalcommons.wustl.edu/med_bulletins/15 This Article is brought to you for free and open access by the Washington University Publications at Digital Commons@Becker. It has been accepted for inclusion in Washington University School of Medicine Bulletins by an authorized administrator of Digital Commons@Becker. For more information, please contact [email protected]. 3N UNIVERSITYi LIBRARY MEnirfll gr»^., BULLETIN OF WASHINGTON UNIVERSITY ST. LOUIS CATALOGUE OF THE MEDICAL SCHOOL MAY, 1913 PUBLICATIONS OF WASHINGTON UNIVERSITY SERIES II VOLUME XI NUMBER VII PUBLICATIONS OF WASHINGTON UNIVERSITY Series I. THE WASHINGTON UNIVERSITY RECORD. This series is issued monthly from November to May, and is intended for the entire University constituency: faculties, alumni, students, and friends of the institution generally. It contains a resume of the principal activities of the University for the period covered, and announcements of important future events. Each number contains, besides, one or more articles of an untechnical character on literary or scientific subjects. One issue (Annual Review) embodies a full review of the academic year, with the Chancellor's Report, abstracts of University legislation, a list of the writings of members of the Faculty, a complete record of papers read by them before learned societies, a list of public addresses, and other matters of University interest. -
Swan Lake Audience Guide
February 16 - 25, 2018 Benedum Center for the Performing Arts, Pittsburgh Choreography: Marius Petipa and Lev Ivanov Staging: Terrence S. Orr Music: Peter Ilyich Tchaikovsky Swan Lake Sponsors: The Benter Foundation, The Pittsburgh Foundation, Eden Hall Foundation, Anonymous Donor February 16 - 25, 2018 Benedum Center for the Performing Arts | Pittsburgh, PA PBT gratefully acknowledges the following organizations for their commitment to our education programming: Allegheny Regional Asset District Henry C. Frick Educational Fund of The Buhl Anne L. and George H. Clapp Charitable Foundation Trust BNY Mellon Foundation Highmark Foundation Claude Worthington Benedum Foundation Peoples Natural Gas Eat ‘n Park Hospitality Group Pennsylvania Council on the Arts Edith L. Trees Charitable Trust Pennsylvania Department of Community ESB Bank and Economic Development Giant Eagle Foundation PNC Bank Grow up Great The Grable Foundation PPG Industries, Inc. Hefren-Tillotson, Inc. Richard King Mellon Foundation James M. The Heinz Endowments and Lucy K. Schoonmaker Cover Photo: Duane Rieder Artist: Amanda Cochrane 1 3 The Setting and Characters 3 The Synopsis 5 About Swan Lake 6 The Origins of the Swan Lake Story 6 Swan Lake Timeline 7 The Music 8 The Choreography 9 The Dual Role of Odette + Odile 9 Acts 1 & 3 10 Spotlight on the Black Swan Pas de Deux 10 The Grand Pas Explained 11 What’s a fouette? 11 Acts 2 & 4 12 Dance of the Little Swans 13 The White Act 13 Costumes and Scenic Design 13 Costumes By the Numbers 14 The Tutus 14 A Few Costume Tidbits! 15 Did You Know? Before She was the Black Swan 16 Programs at the Theater 17 Accessibility 2 The Setting The ballet takes place in and near the European castle of Prince Siegfried, long ago. -
Legend Sleepy Hollow Story
The Legend Of Sleepy Hollow By: Washington Irving n the eastern shore of the Hudson River, nestled in upstate New York, lies a small village known as Tarry Town. And not two miles from this village is a little valley that is one of the quietest places in the whole world. A small brook glides through it with just a murmur. The occasional whistle of a quail or the tapping of a woodpecker are the only sounds to break the silence. This tranquil place has long been known as Sleepy Hollow. Some say the place is bewitched, causing the residents of Sleepy Hollow to fall into trances and see visions or hear music or voices in the air. Nightmares are frequent among the residents, and the local lore is rich with peculiar stories, strange superstitions, and tales of hauntings. The most horrible spirit that haunts the region is a horseman without a head. He is believed to have been a soldier whose head was carried away by a cannonball. He is seen by the country fold as he hurries along in the gloom of night, searching for his head. He is known as the Headless Horseman. One fateful year, a schoolteacher named Ichabod Crane moved to Tarry Town from Connecticut. He was tall and exceedingly thin, with narrow shoulders, hands that dangled a mile out of their sleeves, and feet that looked more like shovels. His head was small, with huge ears, a spindle neck, and a long beak of a nose. To see him in the distance on a windy day, with his clothes fluttering, you’d think he was a scarecrow. -
The Legend of Sleepy Hollow Study Guide.Pdf
Classroom The Legend of Sleepy Hollow Connections For teachers and students grades K - 5 Script, lyrics & music © 1996 & 2006 by Paul Deiss; based on the story by Washington Irving Teacher Resources In the Classroom Theatre IV’s The Legend of Sleepy Hollow and the Classroom Connections Study Guide are produced in support of the teaching of states’ standards, as well as national standards set forth by the National Council of Teachers of English (NCTE). Activities provided support curriculum in grades K-5 www.hudsonvalley.org/education/ Background/abt_irving/abt_irving.html At the Library Chorpenning, Charlotte B. Rip Van Winkle; A Play for Young People from the Story by Washington Irving. Chicago, IL: Coach House Press, 1954. Irving, Washington. The Legend of Sleepy Hollow and Rip Van Winkle. New York: Dover Publications, Inc., 1995. (in easy-to-read type) On the Web The following web sites have activities and information related to Washington Irving and The Legend of Sleepy Hollow. Audio recording of the story: www.scifi.com/set/playhouse/sleepy/ Upper Elementary Lesson Plan tied to National Standards www.hudsonvalley.org/education/ LessonPlans/Storytelling/storytelling.html Smithsonian American Art Museum http://americanart.si.edu/art_ info/1001/2000/10/103100.htmlWe Set the Stage for Learning™ Theatre IV, Richmond, VA Background on Washington Irving John Quidor, 1801–81, Perhaps Brom had something to do with his disappearance. Perhaps he was the The Headless victim of a cruel prank. Or perhaps a headless ghost spirited him away, as Horseman Pursuing legend has it. Ichabod Crane, 1858, oil, Smithsonian American Art Museum Play Synopsis: Based on the original story by Washington Irving, The Legend of Sleepy Hol- low tells the story of Tarry Town, a place where strange things happen and the townsfolk seem entranced by spirits. -
Kunapipi 32 (1&2) 2010 Full Version
Kunapipi Volume 32 Issue 2 Article 1 2010 Kunapipi 32 (1&2) 2010 Full Version Anne Collett University of Wollongong, [email protected] Follow this and additional works at: https://ro.uow.edu.au/kunapipi Part of the Arts and Humanities Commons Recommended Citation Collett, Anne, Kunapipi 32 (1&2) 2010 Full Version, Kunapipi, 32(2), 2010. Available at:https://ro.uow.edu.au/kunapipi/vol32/iss2/1 Research Online is the open access institutional repository for the University of Wollongong. For further information contact the UOW Library: [email protected] Kunapipi 32 (1&2) 2010 Full Version Abstract Full text of issue. For individual articles see: ro.uow.edu.au/kunapipi/vol32/iss1/ This full issue is available in Kunapipi: https://ro.uow.edu.au/kunapipi/vol32/iss2/1 JournalKUNAPIPI of Postcolonial Writing & Culture VOLUME XXXII NUMBER 1–2 2010 ii Kunapipi is a biannual arts magazine with special but not exclusive emphasis on the new literatures written in English. It aims to fulfil the requirements T.S. Eliot believed a journal should have: to introduce the work of new or little known writers of talent, to provide critical evaluation of the work of living authors, both famous and unknown, and to be truly international. It publishes creative material and criticism. Articles and reviews on related historical and sociological topics plus film will also be included as well as graphics and photographs. The editor invites creative and scholarly contributions. The editorial board does not necessarily endorse any political views expressed by its contributors. Manuscripts should be double-spaced with notes gathered at the end, and should conform to the Harvard (author-date) system. -
National Register of Historic Places Registration Form
NPS Form 10-900 OMB No. 1024-0018 United States Department of the Interior National Park Service National Register of Historic Places Registration Form This form is for use in nominating or requesting determinations for individual properties and districts. See instructions in National Register Bulletin, How to Complete the National Register of Historic Places Registration Form. If any item does not apply to the property being documented, enter "N/A" for "not applicable." For functions, architectural classification, materials, and areas of significance, enter only categories and subcategories from the instructions. VLR Listed: 12/12/2019 1. Name of Property NRHP Listed: 8/7/2020 Historic name: Rose Hill Other names/site number: VDHR No. 023-0018 Name of related multiple property listings: The Civil War in Virginia, 1861–1865: Historic and Archaeological Resources (Enter "N/A" if property is not part of a multiple property listing) ____________________________________________________________________________ 2. Location Street & number: 19202 Batna Road City or town: Culpeper State: VA County: Culpeper Not For Publication: N/A Vicinity: X ____________________________________________________________________________ 3. State/Federal Agency Certification As the designated authority under the National Historic Preservation Act, as amended, I hereby certify that this X nomination ___ request for determination of eligibility meets the documentation standards for registering properties in the National Register of Historic Places and meets the procedural