Gaston Michel investigates whether shocks to real estate markets constitute an important source of the risk that is priced in the cross section of equity returns. His results document that real estate risk explains a large part of the cross-sectional variation in equity returns. He shows that an alternative modeI which includes the real estate factor performs as well as or better than the Fama-French model in pricing equity returns.
A beloved multidisciplinary treatise comes to Penguin Classics Since its initial publication in 1958, The Poetics of Space has been a muse to philosophers, architects, writers, psychologists, critics, and readers alike. The rare work of irresistibly inviting philosophy, Bachelard’s seminal work brims with quiet revelations and stirring, mysterious imagery. This lyrical journey takes as its premise the emergence of the poetic image and finds an ideal metaphor in the intimate spaces of our homes. Guiding us through a stream of meditations on poetry, art, and the blooming of consciousness itself, Bachelard examines the domestic places that shape and hold our dreams and memories. Houses and rooms; cellars and attics; drawers, chests, and wardrobes; nests and shells; nooks and corners: No space is too vast or too small to be filled by our thoughts and our reveries. In Bachelard’s enchanting spaces, “We are never real historians, but always near poets, and our emotion is perhaps nothing but an expression of a poetry that was lost.” This new edition features a foreword by Mark Z. Danielewski, whose bestselling novel House of Leaves drew inspiration from Bachelard’s writings, and an introduction by internationally renowned philosopher Richard Kearney who explains the book’s enduring importance and its role within Bachelard’s remarkable career. For more than sixty-five years, Penguin has been the leading publisher of classic literature in the English-speaking world. With more than 1,500 titles, Penguin Classics represents a global bookshelf of the best works throughout history and across genres and disciplines. Readers trust the series to provide authoritative texts enhanced by introductions and notes by distinguished scholars and contemporary authors, as well as up-to-date translations by award-winning translators.
Written in 1911 by Gaston Leroux, the author renowned for such mysteries as The Perfume Of The Lady In Black and The Phantom Of The Opera, BALAOO is the extraordinary black fable of a pithecanthrope, or monkey-man, created by a scientist and raised as human in a small French village. Unfortunately Balaoo, the creature in question, is endowed with immense strength and a ferocious temper, which leads him to murder and an eventual chase by police over the rooftops of Paris. BALAOO has been filmed several times, first by Victorin-Hippolyte Jasset in 1913, and later as The Wizard (1927) and Dr. Renault's Secret (1942).
In an elegant translation, Mary McAllester Jones brings to English-speaking readers the writings of a singular French philosopher of science whose rich intellectual legacy is too little known. Gaston Bachelard, who died in 1962, left us twelve works on the philosophy of science, nine on the poetic imagination, and two on time and consciousness, written in an image-laden style that rejected traditional academic discourse in favor of a subversive, allusive, highly metaphorical way of thinking and writing. Gaston Bachelard, Subversive Humanist gives us a generous introduction to Bachelard's brilliant and idiosyncratic writings about the relation of science, poetry, and human consciousness. The extracts are framed in succinct critical essays that explicate the development of his ideas and clarify his relation to the contemporary French intellectual revolution more commonly associated with Michel Foucault and Jacques Derrida. The matrix of Bachelard's thought is twentieth-century science, the "new scientific mind" that he dates from 1905 and Einstein's special theory of relativity. Like the discovery of America five hundred years before, the discoveries of mathematics and physics today have undermined our familiar epistemologies. Modern science has forced us to revise our conception of the rational subject and of the relation between reason and reality, subject and object. A "psychic revolution" has accompanied this revolution in reason. If we try to grasp the dialectics of matter and energy in physics, or the dualism of waves and particles, we shall learn to maintain difference and handle complexity; we are shaken out of the reductive, identity-ridden habits of ordinary life and thought. As a writer of science, Bachelard deliberately aimed to rid us of the preconceptions that blind us to the facts, to science as it is now. The same wariness with regard to theory is present in his approach to poetry. For Bachelard, mathematical equation and poetic image alike break with everyday experience. Reading poetic images brings us "the experience of openness, of newness", says Bachelard. The reader "is called upon to continue the writer's images, he is aware of being in a state of open imagination." There is little place for abstract critical theory in Bachelard's view of Poetry. Gaston Bachelard, Subversive Humanist will interest literary scholars, philosophers, and intellectual historians.
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