This paper analyses the links between the investment strategies of a commodity-based SWF and the macroeconomic framework of the owner country. We examine some basic macrofinancial linkages of an SWF's strategic asset allocation (SAA) strategies with regard to the government budget, monetary policy, and exchange rate movements. Based on a simple Markowitz-model framework, which integrates the specific objectives and constraints facing an SWF and the country's specific characteristics and macroeconomic vulnerabilities (especially in relation to commodity prices and prospective defined liabilities), we derive an SAA. The asset-liability methodology that is applied in the selection of an SWF SAA also allows assessing whether (i) the SAA adequately takes into account the country-specific risks and vulnerabilities, and (ii) its objectives and macrofinancial constraints are consistent. Some analytical and practical issues in determining an SAA model are also discussed, along with key effects of a financial crisis.
Winner of the Jefferson Davis Award Winner of the Johns Family Book Award Winner of the Army Historical Foundation Distinguished Writing Award “A work of deep intellectual seriousness, sweeping and yet also delicately measured, this book promises to resolve longstanding debates about the nature of the Civil War.” —Gregory P. Downs, author of After Appomattox Shiloh, Chancellorsville, Gettysburg—tens of thousands of soldiers died on these iconic Civil War battlefields, and throughout the South civilians suffered terrible cruelty. At least three-quarters of a million lives were lost during the American Civil War. Given its seemingly indiscriminate mass destruction, this conflict is often thought of as the first “total war.” But Aaron Sheehan-Dean argues for another interpretation. The Calculus of Violence demonstrates that this notoriously bloody war could have been much worse. Military forces on both sides sought to contain casualties inflicted on soldiers and civilians. In Congress, in church pews, and in letters home, Americans debated the conditions under which lethal violence was legitimate, and their arguments differentiated carefully among victims—women and men, black and white, enslaved and free. Sometimes, as Sheehan-Dean shows, these well-meaning restraints led to more carnage by implicitly justifying the killing of people who were not protected by the laws of war. As the Civil War raged on, the Union’s confrontations with guerrillas and the Confederacy’s confrontations with black soldiers forced a new reckoning with traditional categories of lawful combatants and raised legal disputes that still hang over military operations around the world today. In examining the agonizing debates about the meaning of a just war in the Civil War era, Sheehan-Dean discards conventional abstractions—total, soft, limited—as too tidy to contain what actually happened on the ground.
Judaism is a monotheistic religion with a history of over 3,500 years. 'Defining Judaism' illustrates the range of theoretical and practical issues required for comparative and historical study of the faith. The texts range from historical attempts to define individual 'Jews' to imagining Judaism as a religion like other religions, to modern and post-modern attempts to decentre these earlier definitions. The reader brings together a wide range of essays from influential scholars of ancient and contemporary Judaism to attempt a full picture of Judaism that will be of interest to all those involved in the study of religion.
Strikes have been part of American labor relations from colonial days to the present, reflecting the widespread class conflict that has run throughout the nation's history. Against employers and their goons, against the police, the National Guard, local, state, and national officials, against racist vigilantes, against their union leaders, and against each other, American workers have walked off the job for higher wages, better benefits, bargaining rights, legislation, job control, and just plain dignity. At times, their actions have motivated groundbreaking legislation, defining new rights for all citizens; at other times they have led to loss of workers' lives. This comprehensive encyclopedia is the first detailed collection of historical research on strikes in America. To provide the analytical tools for understanding strikes, the volume includes two types of essays - those focused on an industry or economic sector, and those focused on a theme. Each industry essay introduces a group of workers and their employers and places them in their economic, political, and community contexts. The essay then describes the industry's various strikes, including the main issues involved and outcomes achieved, and assesses the impact of the strikes on the industry over time. Thematic essays address questions that can only be answered by looking at a variety of strikes across industries, groups of workers, and time, such as, why the number of strikes has declined since the 1970s, or why there was a strike wave in 1946. The contributors include historians, sociologists, anthropologists, and philosophers, as well as current and past activists from unions and other social movement organizations. Photos, a Topic Finder, a bibliography, and name and subject indexes add to the works appeal.
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