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In a large healthcare worker cohort, we quantified the association between behaviors and risk of coronavirus disease 2019 (COVID-19) during different pandemic phases, adjusting for prior infection and vaccination. Individual characteristics, including personal concerns, were associated with these behaviors. Public health messaging should target high-risk populations and behaviors as the pandemic evolves.
The Cambridge Capital Controversy was one of the most significant debates in Twentieth Century economics. First published in 1972, this book provides an accessible reconstruction of the controversy with detailed discussion of the major points raised by its primary protagonists: Piero Sraffa and Joan Robinson on the post-Keynesian side (Cambridge, UK) and Robert Solow and Paul Samuelson on the neo-classical side (Cambridge, MA). The book is now considered to be a classic. This fiftieth anniversary edition comes with a new preface by the author and two new afterwords that reflect on the author's contribution to the field and the significance of the book in the history of economics. Topics covered include the measurement of capital, the revival of interest in Irving Fisher's rate of return on investment, the double-switching debate, Sraffa's prelude to a critique of neoclassical theory, and the 'new' theories of the rate of profits in capitalist society.
The use of the malleability assumption and a simple marginal productivity theory of distribution underlies the early post-war work on aggregate production functions: the attempts to sort out from actual statistics the increases in output per man that are due to technical progress, i.e. shifts of an aggregate production function, from those which are due to capital deepening, i.e. movements along a given production function.
To begin at the beginning. In 1953 Joan Robinson wrote ‘The Production Function and the Theory of Capital’ (Robinson [1953–4]) in which she made a number of specific complaints about the state of economic theory and the state of some economic theorists, who soon were to become identified as the latter-day neoclassicals whose HQ is now Cambridge, Massachusetts.
Another offshoot of the criticisms of the use of the concept of malleable capital both in theoretical analysis and in the aggregate production function is the work on the social rate of return on investment, which is associated especially with Solow. His views are set out in the 1963 De Vries Lectures, Solow [1963a], in his contribution to the Dobb Festschrift, Solow [1967], and in the subsequent exchanges with Pasinetti in Solow [1970] and Pasinetti [1970]. (In the company of Tobin, von Wiezsäcker and Yaari [1966], he added further thoughts in the analysis of ‘quickening’.)
Capital theory is renowned for the controversies with which it is associated. In this book we survey the background to, and the issues of, the latest controversy, the debates between the two Cambridges – Cambridge, England, and Cambridge, Massachusetts. We designate the two sets of protagonists, for convenience but rather loosely, as the neo-neoclassicals and the neo-Keynesians.
As we have seen in the preceding chapters, the results of neoclassical marginal productivity theory have played a key role in both the theory of economic growth and the econometric studies of the post-war period.
In order to determine the rate of profits in capitalist society it is necessary, as we saw in Chapter 4, to introduce further factors from outside the production system itself. Certain economists – Kaldor, Joan Robinson, Pasinetti – have argued that the factors are the saving propensities associated with different classes of income-receivers in the community and the rate of growth of the economic system as given either by the rate of growth of the labour force and Harrod neutral technical progress or by the capitalists themselves, depending upon the author concerned.
Insurance industry practitioners have deep knowledge of their industry, but there is a lack of a simple-to-understand, practical blueprint on applying distributed ledger technology solutions, including blockchain. This paper provides a practical guide for actuaries, risk professionals, insurance companies and their Boards on blockchain, including an education piece to provide an understanding of the technology. Examples of real-world applications and use cases in insurance are provided to illustrate the capability of the technology. The current risks and challenges in adopting the technology are also considered. Finally, a checklist of issues to consider in adopting a blockchain solution for insurance business problems is provided.