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The eighteenth-century Physiocrats are widely considered to be precursors to classical economics, the French ninteenth-century Economistes, and contemporary free-market economics. They advocated free trade against mercantilism, and natural law against despotism. Although the Physiocrats also contributed to Walras and modern economic engineering, they fit squarely within the French (and world) liberal tradition.

Background Advancements in the field of microvascular surgery and the widespread adoption of microvascular surgical techniques have made the use of osteocutaneous fibula free flaps the standard of care in the surgical management of segmental mandibular defects. Although the literature possesses abundant evidence to support the effectiveness of fibula free flaps as a reconstructive method, there are relatively few studies reporting on outcomes as objectively measured by videofluoroscopic swallowing studies (VFSS). The purpose of this study is to explore the potential correlation between early postoperative VFSS and the long-term swallowing outcomes in patients who underwent mandibular reconstruction with fibula free flaps. Methods We performed a retrospective chart review of 36 patients who underwent mandibular reconstruction with osteocutaneous fibular free flaps between 2009 and 2012. Demographics, clinical variables, VFSS data, and diet information were retrieved. Penetration and aspiration findings on VFSS, long-term oral feeding ability, and the need for gastrostomy tube were statistical endpoints correlated with postoperative clinical outcomes. Results Thirty-six patients were reviewed (15 females and 21 males) with a mean age of 54 years (7–81). Seventeen cases were treated for malignancy. The size of the bony defect ranged from 3 to 15 cm (mean = 9 cm). The cutaneous paddle, a surrogate for soft tissue defect, ranged from 10 to 125 cm2 (mean = 52 cm2). A gastrostomy tube was present in patients preoperatively (n = 8), and postoperatively (n = 14). Seventeen patients had neoadjuvant exposure to radiation. Postoperative VFSS showed penetration in 13 cases (36%) and aspiration in seven (19%). Overall, 29 patients (80.6%) achieved unrestricted diet, and this was statistically correlated with age (p = 0.037), radiation therapy (p = 0.002), and preoperative gastrostomy tube (p = 0.03). The presence of penetration or aspiration on VFSS was a strong predictor for long-term unrestricted oral diet (p

This paper provides a classification system and naming convention for twelve novel types of 4R-RRRP mechanisms with variable topology (MVTs). A mechanism with variable topology is a mechanism that changes from one topological state to another due to a change in joint geometry. An example 4R-RRRP mechanism is provided for each novel mechanism type, along with the appropriate classification and naming convention. The new 4R-RRRP mechanism classes and naming conventions presented in this paper will aid designers in the analysis and synthesis of 4R-RRRP mechanisms. These novel MVTs have practical applications in areas such as manufacturing, space applications, and novel medical devices.

Geoffrey Brennan and James M. Buchanan, in their 1980 book The Power to Tax, hypothesize that “the potential for fiscal exploitation varies inversely with the number of competing governmental units in the inclusive territory.” This paper tests that theory at the local level using data for US metropolitan statistical areas (MSA). MSAs are constructed on the basis of commuting patterns and are meant to delineate the local economy. Because of their construction, MSAs typically contain several distinct and nonoverlapping political jurisdictions, each with the power to tax residents, mitigate local externalities, and provide local public goods. Following previous literature, we measure “competing governmental units” using the number of general-purpose local governments within an MSA, adjusted for land area and population. In contrast to previous work, which uses less comprehensive measures of “fiscal exploitation,” we test Brennan and Buchanan’s “Leviathan hypothesis” using various measures of MSA economic freedom, rather than more limited measures of spending or revenue, as our dependent variable. We find mixed evidence that the number of competing jurisdictions is positively associated with economic freedom. When examining the individual components of economic freedom, we find a positive and statistically significant relationship with labor market freedom but only a weak relationship with government spending or taxes. These results offer mixed support for the Leviathan hypothesis, though support strengthens when metro areas in the South are excluded.

Purpose – The purpose of this paper is to focus on the impact of economic freedom on entrepreneurial activity in the service sector. Specifically, the paper examines how economic freedom at the state level affects employment among North American Industry Classification System (NAICS) six-digit service industries. Design/methodology/approach – The paper uses a fixed effects model to predict the effect of economic freedom on employment in each of the NAICS six-digit service industries. The paper uses the significance of the economic freedom coefficients to determine which industries grow and which shrink with increases in economic freedom. Findings – The empirical findings reveal that economic freedom improves job growth for some, but not for all industries. Employment tends to grow in the six-digit industries that are categorized as finance and insurance, administrative and waste services, and professional and technical services. Employment in many of the health care and social assistance industries as wel...

Debt-for-nature swaps (DNSs) are a method of simultaneously addressing debt problems in developing countries and protecting environmentally-sensitive tracts of land and forests. The number and scope of DNSs declined after a flurry of activity in the early to mid-1990s. While a number of problems have been identified that may have contributed to this pattern the literature has ignored the role that weakly defined and enforced property rights may play. DNSs are interpreted as Coasian bargains and an explanation for their decline based upon property rights, transactions costs, and competitive bidding is advanced.

The growth of an economy depends upon entrepreneurial activities leading to the formation of new businesses and the production of new goods and services. In turn, institutions influence entrepreneurial activity. Public policy is an attribute of the institutions under which entrepreneurs operate. One element of the institutional environment is the degree of economic freedom under which entrepreneurs form and operate their business activities. The degree of economic freedom affects not only profit opportunities for entrepreneurs, but also the level and the type of economic activities they pursue. We examine how the entrepreneurial activity and level of employment in U.S. service industries respond to changes in the degree of economic freedom among states. Our findings suggest that the relationship between entrepreneurial outcomes and economic freedom varies significantly by industry. In some industries, such as business and personal services, increases in economic freedom lead to growth in the number of firms and the level of employment. However, the reverse is true for other industries, such as health, social, and legal services.

To evaluate 4-dimensional (4D) computed tomography (CT) for the localization of parathyroid adenomas previously considered nonlocalizing on ultrasound and single-photon emission CT with CT scanning (SPECT-CT). To measure radiation exposure associated with 4D-CT and compared it with SPECT-CT.Case series with chart review.University tertiary hospital.Nineteen adults with primary hyperparathyroidism who underwent preoperative 4D CT from November 2013 through July 2014 after nonlocalizing preoperative ultrasound and technetium-99m SPECT-CT scans. Sensitivity, specificity, predictive values, and accuracy of 4D CT were evaluated.Nineteen patients (16 women and 3 men) were included with a mean age of 66 years (range, 39-80 years). Mean preoperative parathyroid hormone level was 108.5 pg/mL (range, 59.3-220.9 pg/mL), and mean weight of the excised gland was 350 mg (range, 83-797 mg). 4D CT sensitivity and specificity for localization to the patient's correct side of the neck were 84.2% and 81.8%, respectively; accuracy was 82.9%. The sensitivity for localizing adenomas to the correct quadrant was 76.5% and 91.5%, respectively; accuracy was 88.2%. 4D CT radiation exposure was significantly less than the radiation associated with SPECT-CT (13.8 vs 18.4 mSv, P = 0.04).4D CT localizes parathyroid adenomas with relatively high sensitivity and specificity and allows for the localization of some adenomas not observed on other sestamibi-based scans. 4D CT was also associated with less radiation exposure when compared with SPECT-CT based on our study protocol. 4D CT may be considered as first- or second-line imaging for localizing parathyroid adenomas in the setting of primary hyperparathyroidism.

As the supply of new PhDs in business has declined in the past decade in the face of increasing demand, the cost of filling vacant faculty lines with qualified professors of business has increased substantially. Because salaries of current faculty members normally fail to keep up with market salaries, when a faculty line is vacated the college must pay a premium by offering a higher, competitive salary. In this study, the authors estimated the salary premium associated with filling a vacated finance faculty line. Results from a national survey show that the premiums required for replacing finance faculty members at all ranks are substantial.

A significant problem with examining efficiency and performance in the nursing home industry is an implicit assumption of quality homogeneity. Cost data are typically regressed against output, measured in bed days, without explicit recognition of the effects of quality on cost structures. Regulatory agencies at both the federal and state levels collect, process and provide proxy quality measures that can be incorporated into nursing home cost-efficiency analyses. Available sources for quality information are presented along with a discussion of the potential problems in measuring quality in a nursing home setting. Specific suggestions are made for dealing with inherent weaknesses in quality data. Introduction Providers and consumers have exhibited an increased interest in the cost-efficiency of nursing home services. An ageing "baby boomer" demographic group, increased life expectancy and increased consumer interest in housing and service options for the elderly are all factors in the current research on nursing home costs. This trend is likely to continue. Smith, et. al. (1999) point to important demographic and cost factors: population aging effects are expected to add approximately 0.5% annually to health spending between 1997 and 2008, with the trend rising over time, while health spending as a share of GDP is estimated to rise from 13.5% to 16.2% by 2008. Concerns over healthcare costs have resulted in a number of academic, as well as practicing professional studies of the senior housing with services market. Recent academic studies have examined the operational efficiency or "x-efficiency" of nursing homes. liebenstein (1966) initially developed the concept of x-efficiency to address the gap between actual and potential output under a given set of inputs for a given firm or for a given level of output with inputs being variable. X-efficiency studies attempt to identify cost efficiency issues in current operations with a particular focus on cost minimization through improved resource allocations. In the case of nursing homes, the output measure used is bed days while input measures focus primarily on the various categories of operating costs. Nursing home cost-efficiency studies have produced somewhat contradictory results. Birnbaum, Bishop, Lee and Jensen (1981), Meiners (1982) and Schlenker and Shaughnessy (1984) found no significant relationship when testing for differences in performance efficiency between chain and non-chain (independent) facilities. Arling, Nordquist and Capitman (1987) found chain affiliation to be positively related to operational efficiency, whereas McKay (1991) determined nursing home chains were only cost-advantageous at relatively high levels of output. In contrast, Fizel and Nunnikhoven (1993) found scale economies exist for multi-plant chains and concluded chain affiliation could lessen the rapid cost acceleration in this sector. Anderson, Lewis and Webb (1999) found a negative relationship between national chain affiliation and nursing home efficiency. Finally, Knox, Blakmeyer and Stutzman (2001) found profit-seeking facilities are more efficient than non-profit facilities and that chain facilities are significantly more efficient, when both operational (x-efficiency) and allocative efficiency are considered. Given the far-reaching implications of policy decisions for the nursing home industry and the expected increase in the long-term care population from around 7 million to "nearly 14 million over the next 20 years," (GAO/HEHS-99-27), there is a need for additional studies in this area. A significant problem with examining efficiency and performance is an implicit assumption of quality homogeneity. Assuming that quality delivery affects cost structures, prudence would indicate that researchers adjust for quality differences where possible. However, few studies have made any adjustment for the quality of care actually delivered to residents of nursing homes. …

This study uses data on 487 nursing homes in Florida for 1996 to examine several issues about the efficiency of nursing homes. Chain affiliation (national, regional or independent) is examined, as is profit status (for-profit or non-profit). For the first time quality of care is also included, due to the uniqueness of the data which contains quality scores assigned by State of Florida officials. Multiple regression analysis, as well as data envelopment analysis (DEA), is used. The results, in general, indicate that substantial inefficiencies do exist in the range of 20% to 30%, which is consistent with previous efficiency studies in this industry. Without controlling for quality, for-profit firms and chain affiliated firms are shown to be slightly more efficient than their independent and non-profit counterparts. However, chain affiliated firms scored lower on quality than independents and for-profit firms scored lower on quality than non-profit firms. When controlling for quality, the profit status of the firm and room utilization rates are positively and significantly related to efficiency. However, in the presence of the quality control variable, there is no evidence to suggest that chain affiliation impacts efficiency.

Objectives:(1) Present the application of 4-dimensional (4D) computed tomography (CT) in preoperative localization of parathyroid adenomas that do not localize with technetium-99 (Tc-99) single-photon emission computed tomography (SPECT)/CT or ultrasound. (2) Present indications for 4D-CT use. (3) Understand radiologic dosimetry issues of 4D-CT.Methods:A retrospective review of over 15 consecutive patients at an academic medical center with primary hyperparathyroidism who underwent preoperative 4D-CT after nonlocalizing preoperative ultrasound and Tc-99 SPECT-CT scans between November 2013 and June 2014. This was a mixture of patients presenting for their first operations and others requiring revision surgery. Intraoperative radioguided parathyroidectomy results, excised gland weight, patient demographics, and parathyroid hormone levels were recorded. Sensitivity, specificity, and positive and negative predictive values of 4D-CT for preoperative adenoma localization were calculated.Results:4D-CT resulted ...

Examining the economics of entrepreneurship from the perspectives of productive versus unproductive entrepreneurial behavior and the role of institutions in economic outcomes, the authors in this book seek to advance the research on institutions by providing a simple framework to analyze the broader, long-term consequences of economic policies. They examine the relationship between economic freedom and economic outcomes and summarize empirical evidence and theory. The book also provides practical policy solutions that are based on the authors' cogent analyses.

We use the model developed by Murphy, Shleifer and Vishny (1991) to examine the causal relationship between institutions as measured by economic freedom and industry employment, and then given the causality, examine how the amount of employment in these causal industries influences economic growth. Only a small percentage of employment in each state has a causal relationship with economic freedom, but when the causal relationship is negative, greater employment in these industries generally leads to reductions in state per capita GDP. When the causal relationship between employment and economic freedom is positive, state per capita GDP tends to grow, even after accounting for overall economic freedom in the state. Policy implications are that removing the opportunities for firms to use government for special treatment will lead to greater economic growth.

Objectives:Identify outcome predictors by correlating clinical variables with postoperative videofluoroscopic swallow study (VFSS).Methods:Retrospective chart review of 36 patients treated at an academic tertiary center between September 2009 and November 2012.Results:Fifteen females and 21 males with a mean age of 54 years (range 7-81); 17 cases were treated for malignancy. Tongue resection was grouped in 4 categories: no resection (n=6, 16.7%); 0-25% (n=19, 52.8%); 25-50% (n=7, 19.4%) and 50% or more (n=4, 11.1%). The mandibular defect was classified by HCL classification: H (n=6,16.7%); HC (n=2, 5.6%); L (n=8, 22.2%); LC (n=10, 27.8%); LCL (n=10, 27.8%). The size of the bony defect ranged from 3-15cm (mean=9 cm). The flap was osseous only in 10 cases; the cutaneous paddle ranged from 10-125 cm2 (mean=52). A gastrostomy tube was present preoperatively in 8 cases, and postoperatively at least transitorily in 14 cases; X-ray tube (XRT) was used in 17 cases. Postoperative VFSS showed penetration in 13 case...

In the cross-country literature, cognitive skills are robust predictors of economic growth. We investigate claims by psychologists that the same is true at the state level. In a variety of specifications using four proxies for average state IQ used in the psychology literature, little evidence is found for a robust IQ-growth relationship at the state level.

Recent empirical literature finds that greater economic freedom at the state level tends to have a positive effect on entrepreneurial activity and economic growth generally. However, state boundaries are relatively arbitrary, and the level of economic freedom in local economies can vary widely within individual states. While there is currently no economic freedom index for metropolitan areas, this paper uses data for government revenue and expenditure as a proxy. It provides the first examination of that relationship at the local level, using data on net new business formation for 288 U.S. metropolitan areas over the period 1990-2003. We found a statistically significant negative relationship between increases in all seven selected sources of revenue (used to fund an equal increase in spending on public welfare) and net new business formation. We also found that replacing welfare spending with higher spending for seven of eight selected spending categories was positively and significantly associated with net new business formation.

Recent research has examined the effect of the Financial Services Modernization Act of 1999, more commonly known as the Gramm–Leach–Bliley Act (GLB), on the market value of U.S. commercial banks, life insurers, property-liability insurers, thrifts, finance companies, and securities firms. This study fills a gap in our understanding of the Act by measuring the price and trading volume effects of the GLB on U.S.-listed foreign banks. A primary contribution of this study is to examine the role, if any, of two corporate governance perspectives, the stakeholder (code law), and shareholder (common law) models, in a cross-sectional analysis of foreign bank market reaction to the GLB. Using a generalized least squares (GLS) portfolio approach, Corrado's rank statistic, and confirmed by the traditional market model approach, we find significant negative share price reactions to certain legislative announcements surrounding the passage of the GLB. Trading volume reactions corroborate the significant share price responses. In general, our results indicate that investors in foreign banks reacted negatively to key legislative action. In a cross-sectional analysis, younger, higher-risk foreign banks with less concentrated ownership and more subordinated debt from countries with higher quality accounting standards appear to have more positive (or less negative) share price reactions.

The purpose of this study is to estimate the total economic costs associated with filling a vacated finance faculty line. These economic costs include both explicit and opportunity costs associated with the production process. Hiring costs include explicit costs such as advertising the position and implicit costs such as the opportunity costs of faculty time spent in various search committee activities. In addition, the recent market for finance professors has included a significant mark-to-market salary component associated with replacing departed faculty with new hires. This paper utilizes survey data from recent finance faculty vacancies at AACSB International accredited schools to estimate the total hiring cost equation.

Examining the economics of entrepreneurship from the perspectives of productive versus unproductive entrepreneurial behavior and the role of institutions in economic outcomes, the authors in this book seek to advance the research on institutions by providing a simple framework to analyze the broader, long-term consequences of economic policies. They examine the relationship between economic freedom and economic outcomes and summarize empirical evidence and theory. The book also provides practical policy solutions that are based on the authors' cogent analyses.