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This chapter develops a no-arbitrage, futures equilibrium cost-of-carry model to demonstrate that the existence of cointegration between spot and futures prices in the New…
This chapter develops a no-arbitrage, futures equilibrium cost-of-carry model to demonstrate that the existence of cointegration between spot and futures prices in the New York Mercantile Exchange (NYMEX) crude oil market depends crucially on the time-series properties of the underlying model. In marked contrast to previous studies, the futures equilibrium model utilizes information contained in both the quality delivery option and convenience yield as a timing delivery option in the NYMEX contract. Econometric tests of the speculative efficiency hypothesis (also termed the “unbiasedness hypothesis”) are developed and common tests of this hypothesis examined. The empirical results overwhelming support the hypotheses that the NYMEX future price is an unbiased predictor of future spot prices and that no-arbitrage opportunities are available. The results also demonstrate why common tests of the speculative efficiency hypothesis and simple arbitrage models often reject one or both of these hypotheses.
Mental health promotion is saturated with theoretical ambiguity and is ripe for sustained philosophical investigation. Unfortunately, most philosophical discussion in health promotion is commonplace rather than academic, and many health promotion theorists are unaware that there is a difference. In order to illustrate this intransigent problem, I discuss Glenn MacDonald's recent contribution to this journal (Vol. 1, Issue 2). In so doing I demonstrate four philosophical errors frequently made in health promotion theory, research and practice.
Discusses US use of drug testing in the workplace, screening employees for smoking, AIDS, genetic traits and reproductive hazards. Attributes this to the costs employers…
Discusses US use of drug testing in the workplace, screening employees for smoking, AIDS, genetic traits and reproductive hazards. Attributes this to the costs employers face in insurance, litigation and compensation. Points out that the purpose of drug testing is to circumvent management responsibility for: accidents in the workplace, stress, bad management practices, and disregarding health and safety initiatives. Acknowledges that the tests are harmful and indefensible. Reports that 81 per cent of members of the American Management Association in 1996 conducted drug testing. Claims that screening is the alternative to monitoring – that is screening out individuals who are seen as high risk in some way – yet that misses the point – the focus should be on making hazardous working conditions safe. Indicates that companies may use drug testing as a means of deterring drug users from gravitating towards their organization. Mentions that workplace‐induced stress can lead to substance abuse and that, therefore it is management driven, rather than being a problem the worker brings to the workplace. Quotes a number of company physicians who object to policing drug use. Indicates that drug testing has diverted attention away from health and safety issues and hazardous working conditions.
Dr. F. J. H. COUTTS'S report to the Local Government Board on an inquiry as to condensed milks, with special reference to their use as infants' foods, has been issued as No 56 of the new series of reports on public health and medical subjects.
Three articles in the inaugural issue of this Journal discuss the idea of mental health promotion. Here, each is discussed in terms of claims, assumptions and, in some…
Three articles in the inaugural issue of this Journal discuss the idea of mental health promotion. Here, each is discussed in terms of claims, assumptions and, in some cases, weaknesses such as an unreconstructed account of mental illness prevention, the mistake of relying on an arbitrary definition of mental health and problems with relying on ‘resilience’ as a central concept. It is argued that none of the papers pays enough attention to social experiences and processes, cultural values and norms on which all judgements about what promotes and demotes mental health are based. In response to this critique, the ten‐element map of mental health promotion and demotion is referred to as a more comprehensive, illuminating and, in the end, more philosophically sound account.
This chapter considers young people’s experiences of inequality as being unemployed in a small seaside town in the United Kingdom which has high levels of deprivation. It…
This chapter considers young people’s experiences of inequality as being unemployed in a small seaside town in the United Kingdom which has high levels of deprivation. It draws upon qualitative data from a study undertaken with 52 young people aged between 16 and 24, undertaken in 2015, to examine the impact of the economic recession on their lived experiences of seeking work and poverty. All the young people who participated in the study stated that they wanted to work but that there simply were not jobs available for them to do. What work they could find was often poorly paid, temporary and involved travel which they could not afford. The financial sanctions imposed on them by the Job Centre resulted in extreme hardship, hunger and homelessness. Often the young people talked about various forms of crime including drug-dealing and drug-taking as a way of dealing with the consequences of unemployment.
This paper aims to conceptualise the residential and psychiatric hospital as a space where criminality and social harms can emerge. Because of recent media scandals over…
This paper aims to conceptualise the residential and psychiatric hospital as a space where criminality and social harms can emerge. Because of recent media scandals over the past 10 years concerning privately-owned hospitals, this study examines the lived experiences of service users/survivors, family members and practitioners to examine historic and contemporary encounters of distress and violence in hospital settings.
The study consists of 16 biographical accounts exploring issues of dehumanising and harmful practices, such as practices of restraint and rituals of coercive violence. A biographical methodology has been used to analyse the life stories of service users/survivors (n = 9), family members (n = 3) and professional health-care employees (n = 4). Service users/survivors in this study have experienced over 40 years of short-term and long-term periods of hospitalisation.
The study discovered that institutional forms of violence had changed after the deinstitutionalisation of care. Practitioners recalled comprehensive experiences of violence within historic mental hospitals, although violence that may be considered criminal appeared to disappear from hospitals after the Mental Health Act (1983). These reports of criminal violence and coercive abuse appeared to be replaced with dehumanising and harmful procedures, such as practices of restraint.
The data findings offer a unique interpretation, both historical and contemporary, of dehumanising psychiatric rituals experienced by service users/survivors, which are relevant to criminology and MAD studies. The study concludes by challenging oppressive psychiatric “harms” to promote social justice for service users/survivors currently being “treated” within the contemporary psychiatric system. The study intends to conceptualise residential and psychiatric hospitals as a space where criminality and social harms can emerge. The three aims of the study examined risk factors concerning criminality and social harms, oppressive and harmful practices within hospitals and evidence that violence occurs within these institutionalised settings. The study discovered that institutional forms of violence had changed after the deinstitutionalisation of care. These reports of violence include dehumanising attitudes, practices of restraint and coercive abuse.