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Nobody concerned with political economy can neglect the history of economic doctrines. Structural changes in the economy and society influence economic thinking and, conversely, innovative thought structures and attitudes have almost always forced economic institutions and modes of behaviour to adjust. We learn from the history of economic doctrines how a particular theory emerged and whether, and in which environment, it could take root. We can see how a school evolves out of a common methodological perception and similar techniques of analysis, and how it has to establish itself. The interaction between unresolved problems on the one hand, and the search for better solutions or explanations on the other, leads to a change in paradigma and to the formation of new lines of reasoning. As long as the real world is subject to progress and change scientific search for explanation must out of necessity continue.

Although law schools have seen rising representation of diverse racial and ethnic groups among students, minorities continue to represent disproportionately small percentages of lawyers within large corporate law firms. Prior research on the nature and causes of minority underrepresentation in such firms has been sparse. In this paper, we use data on a national sample of more than 1,300 law firm offices to examine variation across large U.S. law firms in the representation of African-Americans, Hispanics, and Asian-Americans. Overall, minorities are better represented in offices located in Western states and in major metropolitan areas; offices that are larger and affiliated with larger firms; offices of firms with higher revenues and profits per partner; offices with greater associate–partner leverage; and branch offices rather than principal offices. They are equally distributed between offices with single-tier and two-tier partnerships. Distinct patterns emerge, however, when the three groups are considered separately and when hierarchical rank within firms is taken into account.

Fat‐tailed distributions have been found in many financial and economic variables ranging from forecasting returns on financial assets to modeling recovery distributions in bankruptcies. They have also been found in numerous insurance applications such as catastrophic insurance claims and in value‐at‐risk measures employed by risk managers. Financial applications include:

The purpose of this paper was to examine law enforcement officers' perspectives on job stress and barriers to supportive resources when working child sexual abuse cases in a large southern state. It is well documented in the literature that professionals who work in healthcare, emergency services and law enforcement face tremendous amounts of stress and consequences to their physical and mental health. Little research has been done to examine how child sexual abuse investigations impact law enforcement, and how these specialized officers perceive access to supportive resources.

This qualitative study was part of a larger quantitative study and included 20 law enforcement officers who participated in anonymous, semi-structured phone interviews.

Findings included (1) child sexual abuse cases are difficult, specialized and disturbing (2) barriers to supportive resources include law enforcement culture, the stigma of asking for help, awareness and accessibility of resources and leadership as gatekeeper to the resources and (3) officers perceive both formal and informal resources to be helpful and at best should be proactively available to all officers in the state. A model of the findings was developed to illustrate the implications for practitioners and scholars.

This study was not without weaknesses, specifically the small number of participants, volunteer sampling does not represent the general population and the sampling technique means some demographics may have been missed by researchers.

This study adds to the literature on law enforcement mental health, occupational health and mental health resources. It confirms established research in the literature and provides insight into officer perspectives about barriers that prevent access to informal and formal supports that could improve their emotional well-being.

This study is the first of its kind, to our knowledge, that asks detectives and investigators of child abuse cases about mental health resources. These law enforcement officers are at high-risk for traumatic stress, compassion fatigue and burnout due to the specialized cases they investigate.

A new compact proof is given for the main properties of a previously defined and studied probabilistic—informational concept, the functional of opacity of a statistics with respect to the underlying probability law.

This paper aims to initiate a new, formal theory of sociocultural physics.

Its intended scope is limited to predicting either long‐term, large‐scale or short‐term, small‐scale sociocultural events. The theory that the authors develop, called sociohistory, links three independent but relatable approaches: part of Sorokin's epistemological theory of sociocultural dynamics, Frieden's epistemological theory of extreme physical information (EPI), and Yolles's social viable systems (SVS) theory.

Although not all of Sorokin's ideas are universally accepted, a subset of them is found to be extremely useful for describing the conceptual context of complex systems. This includes how sociocultural processes link closely into political processes.

The theory that develops helps explain how opposing, cultural enantiomers or yin‐yang forces (represented, for instance, by the polar mindsets represented in Islamic fundamentalism and global enterprise) can result in violent conflict, or in either viable or non‐viable social communities. The informations I and J of EPI theory are regarded, respectively, as sensate and ideational enantiomers.

While the resulting sociocultural physics is in its infancy, an illustrative application to the developmental dynamics of post‐colonial Iran demonstrates its potential utility.

To identify, discuss and provide a solution for a common problem in the mathematical analyses in business analyses, namely, paralysis by analysis.

The paper first discusses the scale and frequency of the paralysis by analysis problem, before discussing it in more depth before addressing a fundamental problem, which is an important root of the paralysis by analysis problem, the indiscriminate usage of central tendency measures. Finally, it discusses how variance can be turned from being a liability into an asset. The approach is conversational but examples and a case study are provided to substantiate the arguments.

The paper provides some recommendations for avoiding paralysis by analysis.

Basically, the paper shows by argument and example why practitioners and some researchers need to better understand the limitations and promises of mathematical analyses and to some extent how to incorporate this understanding into their work.

There is nothing really new in this paper, but it discusses a problem that for some reason is often ignored by practitioners and some researchers. The true value of the paper therefore lies in making practitioners, in particular, more aware of the limitations as well as the possibilities in the mathematical analyses performed in business analytics so that they can better understand what they are doing and hence get behind the numbers, as it were.

To consider why the law of large numbers does not play a more significant role in determining an insurer's financial leverage.

Insurer‐group data show that there is little relationship between an insurer's premium volume and its overall leverage (i.e. net written premium‐to‐surplus ratio). An explanation is sought for the lack of a positive scale effect by considering concomitant negative scale effects.

It is argued that insurers frequently convert the benefits of the law of large numbers into economic subsidies for expanded writings that include poorer risks.

The editorial identifies and explores a significant scale phenomenon in the insurance sector that is generally overlooked.