Theory and Modelling

In this chapter, I discuss the dominance of the neoclassical theory. The effort here is to highlight the importance of studying economics as an adaptive complex system where the fractal structure and interaction play a fundamental explanatory role and individual details are largely relevant. To discard equilibrium in the standard sense and to move on to study out of equilibrium dynamics is surely the right way to proceed but is perhaps too big a step for economics at this time. Inspired of the Newton's model of the universe, economists developed an economic model that had the same formal properties. So, once economics and finance made it their goal to develop the concept and the idea of the elegant model form, they go along with the simplified assumptions of that form. Therefore, financial models can leave us unable to see many of the most important aspects of financial markets.

2017 ◽  
Vol 1 (2) ◽  
pp. 171
Author(s):  
Zulkifli H. Achmad ◽  
Antariksa Sudikno ◽  
Agung Murti Nugroho

Title: Vertical and Horizontal Room Cosmology in Traditional House (Sa’o) Adat Saga Village, Ende Regency, Flores Cosmology is the science related to kemestaan (cosmos) in a concept of the relationship between the human world (micro-cosmos) and of the universe. Space in traditional house Saga has values and khasan interesting architecturally is examined. The influence of Ngga'e on the Du'a belief and traditional home space Saga interesting architecturally is identified. This study uses qualitative methods with an ethnographic approach that is description. The findings of this study is about the cosmology of the space on a traditional home. Cosmological view of space in traditional house Saga is distinguished into three parts namely is lewu, gara as one and mention the position of the human body parts. Cosmological view of space in traditional Indigenous Villages (Sa'o) Saga depicted horizontally with the mother lay. Nature of traditional house Saga is the core of fertility and birth. Being a mother is clearly visible on a carved door (pene ria) enter Sa'o believe carving the breasts of a woman who symbolizes the human life and a transverse under IE peneria koba leke symbolizing the human development. The position of the head of the mother at the lulu (the dugout), second legs on his back is to the fore in the tent (dugout or accepting guests), second hand mereba is at the right and left dhembi space, the womb or humanitarian space are at puse ndawa. Keywords: traditional house (sa'o), the indigenous village of saga, the cosmology of the vertical and horizontal spaces


Author(s):  
Eliakim Katz ◽  
Jacob Rosenberg

This article focuses on the law surrounding the biblical law of theft. According to Jewish Law, a thief who is caught and found guilty must return the stolen article and, in addition, pay the owner a fine equal to the value of the article. The thief can avoid this fine by admitting to the theft on his own initiative in a court and returning the stolen article to its owner. This article refers to such canceling of a fine as a pardon. The pardon is explained in the Talmud by the legal dictum “Mode BeKnass Patur,” that is “he who confesses in a fine is exempt”. This article carefully explains economic model with the help of various graphs. This article also explains two issues which require consideration in assessing whether Eliezer acted properly as an agent according to Jewish law. A detailed analysis of concepts of duty in Judaism concludes this article.


Author(s):  
G Lambiase ◽  
S Mohanty

Abstract The 21-cm line signal arising from the hyperfine interaction in hydrogen has an important role in cosmology and provides a unique method for probing of the universe prior to the star formation era. We propose that the spin flip of Hydrogen by the coherent emission/absorption of axions causes a lowering of their spin temperature and can explain the stronger than expected absorption of 21-cm light reported by the EDGES collaboration. We find the analogy of axion interaction with the two level HI with the Jaynes-Cummings model of a two level atom in a cavity and we derive the spin flip frequency in this formalism and show that the coherent oscillations frequency Ω∝1/fa in contrast with the incoherent transitions between the HI hyperfine levels where the transition rates $\propto 1/f_a^2$. The axion emission and absorption rates are equal but the spin temperature is still lowered due to different selection rules for the spin flip transitions compared to the photon process. We show that the axion process goes in the right direction for explaining the EDGES observation. For this mechanism to work we require a coherent field of relativistic axions with energy Eν peaked at the 21-cm spin-flip energy. Such a coherent background of relativistic axions can arise from the decay of cosmic strings if the decay takes place in the electroweak era.


Ramus ◽  
2007 ◽  
Vol 36 (2) ◽  
pp. 97-117 ◽  
Author(s):  
Gareth Williams

Seneca's focus on comets inNatural Questions7 concentrates our attention on a phenomenon that is in a sense familiar but so distant, known but so unknown; they are obscurities that ‘both fill and escape our eyes’ (7.30.4), and which challenge us to project the mind's eye beyond the limits of our ordinary vision as we seek insight into nature's mysteries. The broad aim of this paper is to argue that Seneca's treatment of comets shapes, and actively applies in inventive ways within the text, a mindset that moves restlessly from narrow, more ‘terrestrial’ ways of reflecting upon the universe towards an unfettered mode of investigation that looks daringly beyond the limits of the visible and known to speculate on what lies beyond. This mindset proceeds by conjecture and ‘neither with any assurance of finding [the truth] nor without hope’ (7.29.3), but it nevertheless follows the ‘right’ (Senecan) path even in possible error: it reaches dynamically beyond conventional confines—in this case, the zodiac—to engage with the universal immensity in ways that aspire to that main Senecan goal in theNatural Questionsas whole, ‘to see the all with the mind’ (cf.animo omne uidisse, 3 pref. 10).


1990 ◽  
Vol 131 ◽  
pp. 6-23

The probability has increased that the UK will become a full member of the EMS before the next general election. The issue is by no means settled, but full membership now seems the right assumption to make for the forecast. The precise timing is difficult to foresee: on the one hand the present economic situation in this country makes an immediate move difficult, on the other hand the Government might be loath to make the move in the run-up to the election. Fortunately the choice of the exact date is not very material to the forecast. We have assumed the fourth quarter of the year is the date of entry. A more important question concerns the terms on which the UK joins: whether sterling joins at the market exchange rate of the day and the width of the band within which it can fluctuate.


1970 ◽  
Vol 1 (4) ◽  
pp. 317-333 ◽  
Author(s):  
Fazlur Rahman

The classical Muslim modernists of the nineteenth century envisaged Islamic Reform as a comprehensive venture: it took in its purview law, society, politics and intellectual, moral and spiritual issues. It dealt with questions of the law of evidence, the status of women, modern education, constitutional reforms, the right of a Muslim to think for himself, God and the nature of the universe and man and man's freedom. A tremendous intellectual fervour and ferment were generated. The liberals and the conservatives battled; the intellectual innovators were opposed and supported, penalized and honored, exiled and enthusiastically followed. Although the modernist movement dealt with all the facets of life, nevertheless, in my view, what gave it point and significance was its basically intellectual élan and the specifically intellectual and spiritual issues with which it dealt. This awakening struck a new and powerful chord in the Muslim mind because intellectual issues had remained for centuries under a state of selfimposed dormancy and stagnation at the instance of conservative orthodoxy. The nineteenth century was also the great age of the battle of ideas in the West, ideas and battles whose strong injections into Muslim society found a ready response. The character of this movement was then primarily intellectual and spiritual.


Significance Inflation seems to have returned to the economy following three years of near-continual deflation. After years in the doldrums, the Croatian economy is finally experiencing respectable growth and various indicators are now pointing in the right direction. However, the recovery is based on short-term factors that cannot easily be sustained, and the foundations of the economy remain weak. Impacts The current spate of growth is helping to prop up a weak government and a socio-economic model to which many Croats are averse. Respectable growth has lifted business confidence in the third quarter to its highest level since 2009. Apparent economic convergence with the rest of the EU is reviving the question whether and when Croatia should adopt the euro.


1974 ◽  
Vol 17 (1) ◽  
pp. 63-78 ◽  
Author(s):  
C. J. Dewey

‘Cambridge idealism’ – the phrase sounds like a mischievous verbal paradox. Idealism, as Richter has accustomed us to suppose, set the tone of late nineteenth-century Oxford; while contemporary Cambridge, Lord Annan teaches, preserved a tradition of empirical rationalism. At Balliol Green and Toynbee evolved a ‘secular religion’ from the metaphysics of Hegel and Kant; at Cambridge Sidgwick and Marshall embarked upon a rationalist revision of utilitarianism, developing (for the most part) suggestions incompletely worked out by Mill. Green and Toynbee were idealists; Sidgwick and Marshall were rationalists: the differences between the philosophic systems thery constructed seem crystal clear. Yet the contrast can be exaggerated. Whether their fundamental premiss was the principle of utility or the conviction that ‘the Universe is a single, eternal activity or energy, of which it is the essence to be self-conscious, that is, to be itself and not-itself,’ Oxford idealists and Cambridge rationalists were both preoccupied by contemporary social problems, both formulated essentially social philosophies concerned with the right conduct of individuals in their relations with others, and both arrived at comparable policy prescriptions at almost exactly the same time.


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