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The USDA’s Risk Management Agency (RMA) made several changes to the crop insurance products available to organic growers for the 2014 crop year. Most notably, a 5 percent premium surcharge was removed and organic-specific transitional yields (t-yields) were issued for the first time. The purpose of this paper is to use farm-level organic crop yield data to analyze the impact of these reforms on producer insurance outcomes and compare the insurance options for new organic growers.

This study uses a unique panel data set of organic corn and soybean yields to analyze the impact of organic crop insurance reforms. Actual Production History values and premium rates are calculated for each farm and crop yield sequence. Producer loss ratios and subsidized premium wedges are compared for yield, revenue and area-risk products before and after the instituted reforms.

Results indicate that RMA succeeded in improving the actuarial soundness of the organic insurance program, though further refinement of organic t-yields may be necessary to accurately reflect the yield potential of organic producers and avoid reductions in program participation.

This paper provides insight into the effectiveness of reforms intended to improve the actuarial soundness of organic crop insurance and demonstrates the effect that the reforms are likely to have on new and existing organic farms. Because this analysis uses data collected independently of RMA and includes farms that may or may not have purchased crop insurance, it avoids the self-selection problems that might affect analyses using crop insurance program data.

This study aims to critically review recent contributions to the methodology of financial economics and discuss how they relate to one another and directions for further research.

A critical review of recent literature on new methodologies for financial economics.

Recent books have made important contributions to the study of financial economics. They suggest new approaches that include an emphasis on radical uncertainty, adaptive markets, agent-based modeling and narrative economics, as well as extensions of behavioral finance to include concepts such as diagnostic expectations. Many of these contributions can be seen more as complements than substitutes and provide fruitful directions for further research. Efficient markets can be seen as holding under particular circumstances. A major them of most of these contributions is that the study of financial crises and other aspects of financial economics requires the use of multiple theories and approaches. No one approach will be sufficient.

There are great opportunities for further research in financial economics making use of these new approaches.

These recent contributions can be quite useful for improved analysis by researchers, private participants in the financial sector and macroeconomic and regulatory officials.

Provides an introduction to these new approaches and highlights fruitful areas for their extensions and applications.

In 1967, Robert N. Bellah famously argued that there existed an “American Civil Religion,” which was distinct from churchly religion and captured the “transcendental” dimension of the American project. In this chapter, I revisit the civil religion concept and reconstruct it along more Weberian lines. Specifically, I argue that the civil religion tradition is one of three competing traditions for thinking about the proper relationship between religion and politics in America; the other two are religious nationalism and liberal secularism. Whereas liberal secularism envisions a complete separation of the religious and political value spheres, and religious nationalism longs for their (re)unification, civil religion aims for a mediating position of partial separation and productive tension. Following Bellah, I argue that the two central strands of the civil religion tradition have been covenant theology and civic republicanism. The body of the chapter sketches out the development of the tradition across a series of national foundings and refoundings, focusing on the writings of leading civil theologians from John Winthrop and John Adams through Abraham Lincoln and John Dewey to Martin King and Barack Obama. The conclusion advances a normative argument for American civil religion – and against liberal secularism and religious nationalism. I contend that liberalism is highly inclusive but insufficiently solidaristic; that religious nationalism is highly solidaristic but insufficiently inclusive; and that only civil religion strikes a proper balance between individual autonomy and the common good.

The aim of this paper is to compare modern internal control systems with those in medieval England.

This paper uses a modern referential framework (control environment, risk assessment, information and communication, monitoring and control activities) as a lens to investigate medieval internal controls used in the twelfth century royal exchequer and other medieval institutions. It draws upon an extensive range of primary materials.

The paper demonstrates that most of the internal controls found today are present in medieval England. Stewardship and personal accountability are found to be the core elements of medieval internal control. The recent recognition of the need for the enhanced personal accountability of individuals is reminiscent of medieval thinking.

It investigates internal controls in medieval England for the first time and draws comparisons to today.

The ‘Terrible Mother’ traditionally connotes monstrous aspects of motherhood and devouring femininity, encompassing two stereotypical representation of women in myth, fairy tale and fantasy: The Seductress and the Wicked stepmother. The Seductress personifies female malevolence and is characterized as rebellious, manipulative and relentless. Furthermore, she often adopts male aggressiveness, especially sexual, thus usurping male prerogative. Ironically, the temptress is condemned for exhibiting traits which the male hero is lauded for, while also embodying a warning to other women regarding their fate should they rebel against male authority. These narrative strands converge in Cersei, who becomes an embodiment of male anxiety and stands as the chief moral foil and greatest sociopolitical threat to male hegemony.

Concomitantly, Cersei plays the part of the wicked stepmother to Sansa Stark, the series' archetypal damsel in distress. Like Sansa, Cersei began with starry-eyed dreams of womanhood, but quickly grew disillusioned. Despite this, Cersei subjects Sansa to the same injustices she suffered. This re-enactment of her own mistreatment situates Cersei as the female accomplice to the patriarchy. Yet, Cersei also attempts to educate Sansa about women's position vis-à-vis the patriarchy and the tools at their disposal, thus layering the role of the wicked stepmother. Furthermore, Cersei's narrative is complicated as she becomes a point of view character: her focalization becomes a fertile ground for myriad challenges to an androcentric culture, opening avenues for social criticism and possible reimagining of gender roles.

Sages and seers in ancient India specified dharma, artha, kama and moksha as the four ends of a moral and productive life and emphasised the attainment of a proper balance between the spiritual health and the material health. However, most of their intellectual energy was directed towards the attainment of moksha, the salvation from birth‐death‐rebirth cycle. Kautilya, on the other hand considered poverty as a living death and concentrated on devising economic policies to achieve salvation from poverty but without compromising with ethical values unless survival of the state was threatened. Kautilya's Arthashastra is unique in emphasising the imperative of economic growth and welfare of all. According to him, if there is no dharma, there is no society. He believed that ethical values pave the way to heaven as well as to prosperity on the earth, that is, have an intrinsic value as well as an instrumental value. He referred the reader to the Vedas and Philosophy for learning moral theory, which sheds light on the distinction between good and bad and moral and immoral actions. He extended the conceptual framework to deal with conflict of interest situations arising from the emerging capitalism. He dedicated his work to Om (symbol of spirituality, God) and Brihaspati and Sukra (political thinkers) implying, perhaps, that his goal was to integrate ethics and economics. It is argued that the level of integration between economics and ethics is significantly higher in Kautilya's Arthashastra than that in Adam Smith's Wealth of Nations or for that matter in the writings of Plato and Aristotle.

This essay uses the sociology of race in the United States (as it pertains to the study of African Americans) as point of entry into the larger problem of what implications and impact the body of theory known as “postcolonialism” has for American sociology. It assesses how American sociology has historically dealt with what the discipline (in its less enlightened moments) called the “Negro Problem” and in its more “enlightened moments” called “the sociology of race relations.” The first half of the essay provides a sociological analysis of a hegemonic colonial institution – education – as a means of providing a partial history of how, why, and when American sociology shifted from a more “global” stance which placed the “Negro Problem” within the lager rubric of global difference and empire to a parochial sociology of “race relations” which expunged the history of colonialism from the discipline. The second half of the essay applies postcolonial literary theory to a series of texts written by the founder of the Chicago school of race relations, Robert Ezra Park, in order to document Park's shift from analyzing Black Americans within a colonial framework which saw the “Negro Problem” in America as an “aspect or phase” of the “Native Problem” in Africa to an immigration/assimilation paradigm that tenaciously avoided engaging with the fact that Black resistance to conflict in America might be articulated in global terms.