atomic order
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Early Modern England: Politics, Religion, and Society under the Tudors and Stuarts (HIST 251)In this lecture Professor Wrightson examines the problem of order in early modern society, focusing on crimes of violence and upon property crime. In examining violence, he notes the existence of special cases geographically (the borderlands) and socially (aristocratic violence) before looking at the lower (and gradually declining) levels of homici...more
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In this lecture, Professor Shapiro delves into the nuances of MacIntyre's argument, focusing specifically on his Aristotelian account of human psychology. It has two features: (1) man's nature is inherently teleological or purposive, and (2) human behavior is fundamentally other-directed, in that a person's happiness is conditioned upon the experience of others as it relates to him, particularly on the feeling of being valued by someone he...more
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In order for Social Security to work, people have to believe there's some possibility that the world will last forever, so that each old generation will have a young generation to support it. The overlapping generations model, invented by Allais and Samuelson but here augmented with land, represents such a situation. Financial equilibrium can again be reduced to general equilibrium. At first glance it would seem that the model requires a s...more
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A mortgage involves making a promise, backing it with collateral, and defining a way to dissolve the promise at prearranged terms in case you want to end it by prepaying. The option to prepay, the refinancing option, makes the mortgage much more complicated than a coupon bond, and therefore something that a hedge fund could make money trading. In this lecture we discuss how to build and calibrate a model to forecast prepayments in order to...more
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Professor Freeman discusses what it meant to be a British colonist in America in the eighteenth century. She explains how American colonists had deep bonds of tradition and culture with Great Britain. She argues that, as British colonists with a strong sense of their British liberties, settlers in America valued their liberties above all else. She also explains that many Americans had a sense of inferiority when they compared their colonia...more
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Generic Lsearch - Prototype, Comparison Function, Implementation, Casting Void*S to Char*S to Compute Byte Offsets, Client Use of Generic Lsearch, Example of a Comparison Function for Integers, More Complicated Data Types and Lsearch- Example Using C-Strings, Comparison Function for Two C-Strings, With Arguments that Represent Char**S, Comparison Functions Where the Key is a Different Type than the Second Argument, Using a Pointer to a Str...more
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This lecture begins a series describing the development of organic chemistry in chronological order, beginning with the father of modern chemistry, Lavoisier. The focus is to understand the logic of the development of modern theory, technique and nomenclature so as to use them more effectively. Chemistry begins before Lavoisier's "Chemical Revolution," with the practice of ancient technology and alchemy, and with discoveries like those of ...more
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In order to understand the precise predictions of the Leverage Cycle theory, in this last class we explicitly solve two mathematical examples of leverage cycles. We show how supply and demand determine leverage as well as the interest rate, and how impatience and volatility play crucial roles in setting the interest rate and the leverage. Mathematically, the model helps us identify the three key elements of a crisis. First, scary bad news ...more
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Ringold talks about the fundamental differences between sole entrepreneurship in the academic setting versus entrepreneurship in an industry setting: a change in dynamics from a sole activity, to teamwork from different disciplines to solve fundamental problems. Industry has learned this long before the academic environment - that you need to bring people together from various industries and disciplines, with different skill sets to solve ...more
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One of the central questions in assessing Stalinism is whether or not the abuses of the latter were already present in the first years of the Russian Revolution. The archival evidence suggests that this is partly the case, and that even in its early stages Soviet Russia actively persecuted not just those who were believed to have profited unfairly, without laboring, but also non-Russian ethnic groups. Stalin, although not an ethnic Russian...more
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Part 1 - What's a Fair Start?: Rawls argues that even meritocracy—a distributive system that rewards effort—doesn’t go far enough in leveling the playing field because those who are naturally gifted will always get ahead. Furthermore, says Rawls, the naturally gifted can’t claim much credit because their success often depends on factors as arbitrary as birth order. Sandel makes Rawls’s point when he asks the students who were first born i...more
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This lecture is about optimal exercise strategies for callable bonds, which are bonds bundled with an option that allows the borrower to pay back the loan early, if she chooses. Using backward induction, we calculate the borrower's optimal strategy and the value of the option. As with the simple examples in the previous lecture, the option value turns out to be very large. The most important callable bond is the fixed rate amortizing mortg...more
