This book directly confronts uncomfortable questions that many prefer to brush aside: if economists and other scholars, politicians, and business professionals understand the causes of economic crises, as they claim, then why do such damaging crises continue to occur? Can we trust business and intellectual elites who advocate the principles of Realpolitik and claim the "public good" as their priority, yet consistently favor maximization of profit over ethical issues?
Former deputy prime minister of Russia Grigory Yavlinsky, an internationally respected free-market economist, makes a powerful case that the often-cited causes of global economic instability—institutional failings, wrong decisions by regulators, insufficient or incorrect information, and the like—are only secondary to a far more significant underlying cause: the failure to understand that universal social norms are essential to thriving businesses and social and economic progress. Yavlinsky explores the widespread disregard for moral values in business decisions and calls for restoration of principled behavior in politics and economic practices. The unwelcome alternative, he warns, will be a twenty-first-century global economy in the grip of unending crises.
Grigory Yavlinsky is a Russian economist and founder and member of the Russian United Democratic Party (YABLOKO). As deputy prime minister of Russia in 1990, he wrote the first Russian economic program for transition to a free-market economy, 500 Days. He lives in Moscow.
“Grigory Yavlinsky’s book is an important contribution to understanding the interplay between social norms and modern economy. The current global crisis makes his analysis especially relevant.”—George Soros
“Reading Grigory Yavlinsky's remarkable book, I was reminded of Adam Smith, also a moral philosopher concerned with the correlation between individual aspirations and the enlightened evolution of society. It is invaluable to have the perspective of an intellectual such as Yavlinsky writing in the shadow of swiftly moving events on the global stage. He explains how market mechanisms influence international developments ranging from instability in European markets to the recent ‘Great Recession’ in the United States.”—Vartan Gregorian, President, Carnegie Corporation of New York
“Yavlinsky provides a new and in-depth interpretation of the events leading to the current recession and broader interpretations of how to avoid future ones. Realeconomik has my enthusiastic endorsement.”—Michael D. Intriligator, University of California, Los Angeles
“With clarity and eloquence, Yavlinsky argues that the deepest cause of the global recession was the erosion of the world economy’s moral dimensions. As a professional economist who has long been a leader of the Russian opposition, he knows how to splice politics and economics. As a politician who has repeatedly declined high office on grounds of principle, he lends the book additional authority. Realeconomik is a work that will, I believe, help to spark a public debate on issues of profound importance for humankind.”—Peter Reddaway, George Washington University
The paper argues that when developing an explanatory model of the early-stage entrepreneurial activity level (measured by total index of early entrepreneurial activity - TEA) one should consider the ‘path dependency’ of the ‘institutional matrix’ of different societies. Otherwise one could wonder why some theoretical models of TEA determining factors, as provided by a lot of studies, are not statistically significant for younger market systems and entrepreneurship in transitional economies. However, comparing Global Entrepreneurship Monitor (GEM) data with the scope of official statistics provides a deeper insight into adults’ intrinsic incentives to become entrepreneurial. A statistical analysis of national TEA levels does not support the thesis that TEA levels, and structure, change under economic slowdown. Therefore, it seems logical to suggest that to interpret the TEA level it is important to examine some fundamental specific of different types of national markets rather than just the actual economic situation itself. When testing this hypothesis, the authors compared the characteristics of GEM countries with stable, high or low TEA levels. A Fisher’s linear discriminant analysis (FLDA) is used to examine whether different groups of countries can be distinguished by linear combinations of predictor variables and to determine which variables are responsible for this separation. The FLDA model explains the parabolic form of the relation between the level of economic development and TEA. A database of independent variables includes some different quantitative, ordinal and nominal variables determining the context of the national capital accumulation history. Using FLDA, we argue, one might foresee future tendencies of TEA - not only for GEM participating countries.
In article the concept of a special economic zone (OEZ), key principles of its organization, specifics of the OEZ organization for tourism development are considered, the analysis of world experience of creation and functioning of tourist and recreational OEZ in Panama, China and on Philippines is given.
One of the key advances in genome assembly that has led to a significant improvement in contig lengths has been improved algorithms for utilization of paired reads (mate-pairs). While in most assemblers, mate-pair information is used in a post-processing step, the recently proposed Paired de Bruijn Graph (PDBG) approach incorporates the mate-pair information directly in the assembly graph structure. However, the PDBG approach faces difficulties when the variation in the insert sizes is high. To address this problem, we first transform mate-pairs into edge-pair histograms that allow one to better estimate the distance between edges in the assembly graph that represent regions linked by multiple mate-pairs. Further, we combine the ideas of mate-pair transformation and PDBGs to construct new data structures for genome assembly: pathsets and pathset graphs.
Papers about natural protection territories
Many environmental stimuli present a quasi-rhythmic structure at different timescales that the brain needs to decompose and integrate. Cortical oscillations have been proposed as instruments of sensory de-multiplexing, i.e., the parallel processing of different frequency streams in sensory signals. Yet their causal role in such a process has never been demonstrated. Here, we used a neural microcircuit model to address whether coupled theta–gamma oscillations, as observed in human auditory cortex, could underpin the multiscale sensory analysis of speech. We show that, in continuous speech, theta oscillations can flexibly track the syllabic rhythm and temporally organize the phoneme-level response of gamma neurons into a code that enables syllable identification. The tracking of slow speech fluctuations by theta oscillations, and its coupling to gamma-spiking activity both appeared as critical features for accurate speech encoding. These results demonstrate that cortical oscillations can be a key instrument of speech de-multiplexing, parsing, and encoding.
Neuronal nicotinic acetylcholine receptors (NNRs) of the α7 subtype have been shown to contribute to the release of dopamine in the nucleus accumbens. The site of action and the underlying mechanism, however, are unclear. Here we applied a circuit modeling approach, supported by electrochemical in vivo recordings, to clarify this issue. Modeling revealed two potential mechanisms for the drop in accumbal dopamine efflux evoked by the selective α7 partial agonist TC-7020. TC-7020 could desensitize α7 NNRs located predominantly on dopamine neurons or glutamatergic afferents to them or, alternatively, activate α7 NNRs located on the glutamatergic afferents to GABAergic interneurons in the ventral tegmental area. Only the model based on desensitization, however, was able to explain the neutralizing effect of coapplied PNU-120596, a positive allosteric modulator. According to our results, the most likely sites of action are the preterminal α7 NNRs controlling glutamate release from cortical afferents to the nucleus accumbens. These findings offer a rationale for the further investigation of α7 NNR agonists as therapy for diseases associated with enhanced mesolimbic dopaminergic tone, such as schizophrenia and addiction
The paper studies a problem of optimal insurer’s choice of a risk-sharing policy in a dynamic risk model, so-called Cramer-Lundberg process, over infinite time interval. Additional constraints are imposed on residual risks of insureds: on mean value or with probability one. An optimal control problem of minimizing a functional of the form of variation coefficient is solved. We show that: in the first case the optimum is achieved at stop loss insurance policies, in the second case the optimal insurance is a combination of stop loss and deductible policies. It is proved that the obtained results can be easily applied to problems with other optimization criteria: maximization of long-run utility and minimization of probability of a deviation from mean trajectory.