Most important decision problems—virtually all capital investments and planning situations—involve risky cash flows with uncertainties that are resolved over time. In most of these problems, the decision-maker has access to financial markets and may borrow and lend to smooth consumption over time. Yet, because of the difficulty of incorporating these borrowing and lending decisions into the eva...

Recent macroeconomic research discusses credit market imperfections as a key channel through which inequality retards growth. Limited borrowing prevents the less affluent individuals from investing the efficient amount, and the inefficiencies are considered to become stronger as inequality rises. This paper, though, argues that higher inequality may actually boost aggregate output even with con...

Borrowing and lending drugs is a dangerous business.

American novelist and playwright Thornton Wilder’s lifelong attraction to passion for if not obsession with the work of James Joyce has led unintended consequences. Wilder was writing what would become his second Pulitzer Prize winning play, The Skin Our Teeth, while in midst “unriddling” Joyce’s final novel, Finnegans Wake. Accusations plagiarism subsequently arise from two major scholars, Jos...

This brief paper aims to draw attention the widespread and ongoing phenomenon of lexical borrowing from Khoekhoe-branch languages into regional Afrikaans. A case study one Afrikaans plant name loaned languages, karee (Searsia lancea, Searsia spp.), is used demonstrate how post-shift phonological attrition can lead conflation, hence semantic extension. strongly recommends that public-facing scie...