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We present the discovery and characterization of six short-period, transiting giant planets from NASA's Transiting Exoplanet Survey Satellite (TESS) -- TOI-1811 (TIC 376524552), TOI-2025 (TIC 394050135), TOI-2145 (TIC 88992642), TOI-2152 (TIC 395393265), TOI-2154 (TIC 428787891), & TOI-2497 (TIC 97568467). All six planets orbit bright host stars (8.9, Comment: 20 Pages, 6 Figures, 8 Tables, Accepted by MNRAS

The second edition of _Economic Episodes in American History_ by Mark Schug, William Wood, Tawni Hunt Ferrarini, and M. Scott Niederjohn is a welcome response to the changes in how the beleaguered subject has been taught in high schools over the past eleven years (the first edition came out in 2011). For Schug et al.’s work provides the cure for the current pedagogical dispensation: learning American history is important because it is a way students can understand what economists call the economic way of thinking, capitalism and industrial development were (and still are) responsible for an unprecedented rise in living standards, and capitalism especially improved the well-being of women and minorities.

Este libro es como Hamlet sin el príncipe. Economics in two lessons: Why markets work so well, and why they can fail so badly, de John Quiggin, se anuncia como una respuesta al aclamado La economía en una lección (2008 [1946]), de Henry Hazlitt, un tratado popular sobre economía de libre mercado. Hazlitt desarrolla el análisis de «lo que se ve y lo que no se ve» de Frédéric Bastiat con una descripción popularizada de la economía política de Philip Wicksteed y la economía austriaca en la tradición de Ludwig von Mises (Hazlitt 2008 [1946], p. xii).

Respiratory failure is the loss of the body’s ability to maintain appropriate oxygen delivery to the blood and removal of carbon dioxide from the blood. Respiratory failure can be classified as hypoxemic, hypercarbic, or mixed. The timeline is also used to describe it: acute, chronic, and acute on chronic. Significant morbidity and mortality occur due to respiratory failure, which is a common reason for hospital and intensive care unit (ICU) admission. As such, timely and effective management, both in the ICU and the operating room (OR), is extremely important. This chapter takes a look at management of respiratory failure and anesthetic considerations for patients in respiratory failure.

Full list of authors: Yee, Samuel W.; Winn, Joshua N.; Hartman, Joel D.; Bouma, Luke G.; Zhou, George; Quinn, Samuel N.; Latham, David W.; Bieryla, Allyson; Rodriguez, Joseph E.; Collins, Karen A.; Alfaro, Owen; Barkaoui, Khalid; Beard, Corey; Belinski, Alexander A.; Benkhaldoun, Zouhair; Benni, Paul; Bernacki, Krzysztof; Boyle, Andrew W.; Butler, R. Paul; Caldwell, Douglas A.; Chontos, Ashley; Christianse, Jessie L.; Cia, David R.; Coll, Kevin I.; Conti, Dennis M.; Crane, Jeffrey D.; Daylan, Tansu; Dressing, Courtney D.; Eastman, Jason D.; Essack, Zahra; Evans, Phil; Everett, Mark E.; Fajardo-Acosta, Sergio; Fores-Toribio, Raquel; Furlan, Elise; Ghachoui, Mourad; Gillon, Michael; Hellier, Coel; Helm, Ian; Howard, Andrew W.; Howell, Steve B.; Isaacson, Howard; Jehin, Emmanuel; Jenkin, Jon M.; Jensen, Eric L. N.; Kielkopf, John F.; Laloum, Didier; Leonhardes-Barboza, Naunet; Lewin, Pablo; Logsdon, Sarah E.; Lubin, Jack; Lund, Michael B.; MacDougall, Mason G.; Mann, Andrew W.; Maslennikova, Natalia A.; Massey, Bob; McLeod, Kim K.; Munoz, Jose A.; Newman, Patrick; Orlov, Valeri; Plavchan, Peter; Popowicz, Adam; Pozuelos, Francisco J.; Pritchard, Tyler A.; Radford, Don J.; Reefe, Michael; Ricker, George R.; Rudat, Alexander; Safonov, Boris S.; Schwarz, Richard P.; Schweiker, Heidi; Scott, Nicholas J.; Seager, S.; Shectman, Stephen A.; Stockdale, Chris; Tan, Thiam-Guan; Teske, Johanna K.; Thomas, Neil B.; Timmermans, Mathilde; Vanderspek, Roland; Vermilion, David; Watanabe, David; Weiss, Lauren M.; West, Richard G.; Van Zandt, Judah; Zejmo, Michal; Ziegler, Carl.--This is an Open Access article distributed under the terms of the Creative Commons Attribution License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted reuse, distribution, and reproduction in any medium, provided the original work is properly cited., NASA's Transiting Exoplanet Survey Satellite (TESS) mission promises to improve our understanding of hot Jupiters by providing an all-sky, magnitude-limited sample of transiting hot Jupiters suitable for population studies. Assembling such a sample requires confirming hundreds of planet candidates with additional follow-up observations. Here we present 20 hot Jupiters that were detected using TESS data and confirmed to be planets through photometric, spectroscopic, and imaging observations coordinated by the TESS Follow-up Observing Program. These 20 planets have orbital periods shorter than 7 days and orbit relatively bright FGK stars (10.9 < G < 13.0). Most of the planets are comparable in mass to Jupiter, although there are four planets with masses less than that of Saturn. TOI-3976b, the longest-period planet in our sample (P = 6.6 days), may be on a moderately eccentric orbit (e = 0.18 ± 0.06), while observations of the other targets are consistent with them being on circular orbits. We measured the projected stellar obliquity of TOI-1937A b, a hot Jupiter on a 22.4 hr orbit with the Rossiter–McLaughlin effect, finding the planet's orbit to be well aligned with the stellar spin axis (∣λ∣ = 4fdg0 ± 3fdg5). We also investigated the possibility that TOI-1937 is a member of the NGC 2516 open cluster but ultimately found the evidence for cluster membership to be ambiguous. These objects are part of a larger effort to build a complete sample of hot Jupiters to be used for future demographic and detailed characterization work. © 2023. The Author(s). Published by the American Astronomical Society., J.H. acknowledges funding from NASA grant 80NSSC21K0335. This work was supported by an LSSTC Catalyst Fellowship awarded by LSST Corporation to T.D. with funding from the John Templeton Foundation grant ID No. 62192. K.K.M. acknowledges support from the New York Community Trustâs Fund for Astrophysical Research. N.L.-B. thanks the NASA Massachusetts Space Grant for support. A.A.B., N.A.M., and B.S.S. acknowledge the support of the Ministry of Science and Higher Education of the Russian Federation under the grant 075-15-2020-780 (N13.1902.21.0039). A.P. acknowledges grant BK-246/RAu-11/2022. The research leading to these results has received funding from the ARC grant for Concerted Research Actions, financed by the Wallonia-Brussels Federation. TRAPPIST is funded by the Belgian Fund for Scientific Research (Fond National de la Recherche Scientifique, FNRS) under the grant PDR T.0120.21. TRAPPIST-North is a project funded by the University of Liege (Belgium), in collaboration with Cadi Ayyad University of Marrakech (Morocco)., With funding from the Spanish government through the "Severo Ochoa Centre of Excellence" accreditation (CEX2021-001131-S).

Peter Schweizer’s _Red Handed_ argues that the Chinese government, politically connected businesses, and other influential entities have essentially bought out American elites. Schweizer calls this “elite capture,” which complements Rothbardian studies of cronyism and power elite analysis. Schweizer uncovers the clandestine connections and business dealings many Americans have with the Chinese government. His theory of elite capture is a valuable contribution to understanding the relationship between economic elites and special interests.

BackgroundAlthough spondylolisthesis, disc height loss, and abnormal disc angles are commonly assessed for in clinical practice and research studies, the factors that influence measurements are incompletely understood, and reference data representing a very large and diverse population are not available. Over 7000 lumbar spine x-rays were collected as part of the 2nd National Health and Nutrition Examination Survey (NHANES-II). This nationwide probability sample may facilitate development of robust reference data to objectively classify spondylolisthesis, disc heights, or disc angles as normal vs abnormal. Analysis of lumbar spine x-rays may also help to document whether disc heights and disc angles must be considered when assessing for spondylolisthesis.MethodsAnatomic landmarks were obtained using neural networks and coded logic for L1 to S1 in the NHANES-II lumbar spine radiographs. Nine disc and sagittal plane offset (SPO) measurements were calculated from the landmarks. These data were trimmed to exclude abnormal discs and SPO. The factors that affect SPO were explored along with associations between the metrics and with age, sex, race, nation of origin and BMI. The prevalence of abnormalities was tabulated. Metrics were also calculated for previously analyzed lumbar flexion-extension x-rays to better understand the dependence of SPO on disc angles and disc heights. The errors that occur due to variability in radiographic projection were also assessed.ResultsSPO and disc metrics were obtained for 35,490 levels from 7,358 NHANES-II subjects who were 25 to 74 years old. Descriptive statistics for nine SPO and disc metrics were tabulated before and after trimming the data. Age, BMI, and sex were statistically significant but explained little of the variance in the metrics. SPO was significantly dependent on disc angle and height, though less so in the NHANES radiographs than in lumbar flexion-extension studies. Errors in the metrics due to out-of-plane imaging are generally small but can be large with extensive out-of-plane x-rays.DiscussionThe NHANES-II collection of lumbar x-rays allows for establishing reference data for SPO and disc metrics. These reference data allow for easily interpreted standardized reporting in units of std dev from average normal. SPO was significantly dependent on disc angle and disc height although the effect is small when there is limited flexion or extension. If SPO is being assessed from flexion or extension, a simple correction can be made. Caution is needed when interpreting measurements when the x-ray beam passes obliquely through the endplates or posterior wall (out-of-plane imaging).ConclusionsThe NHANES-II data may facilitate standardized assessments of SPO, disc heights and disc angles. Adjustments should be applied to SPO measurements if made from x-rays with the patient in flexed or extended positions.

Quinn’s American Bonds shows that the federal government’s credit policies were important factors behind the particular evolution of securitization and credit markets in the United States. Unfortunately, she completely omits an analysis of the policies’ efficiency. She also fails to contribute to our understanding of whether the government was necessary for the formation and development of these particular markets or if private actors could have provided similar financial specialization in the absence of government involvement. In the end, American Bonds merely provides a historical overview of credit markets without seriously investigating whether the government’s intervention was indispensable or weighing the costs and benefits of its involvement.

Modern monetary theory (MMT) argues that governments can never go bankrupt because they have the power to print money to finance budget deficits. Consequently, debt monetization can achieve virtually any government objective desired. This paper uses Austrian economics to argue that MMT suffers from the flaws of all forms of Keynesian economics, particularly the original version of the 1930s and 1940s. MMT fails to understand capital-based macroeconomics and how government policy affects the temporal structure of production. MMT also neglects the importance of profit and loss accounting compared to government allocation of resources. The Austrian school argues that traditional New Keynesian countercyclical monetary policy results in a credit-induced boom and bust (Austrian business cycle theory) by injecting new money into private sector loans through the banking sector. However, Austrian analysis demonstrates that MMT’s monetary policy to monetize government deficits and increase the money supply through government spending will instead lead to secular economic stagnation and a stunted capital structure. Overall, the policy prescriptions of MMT are far more dangerous than traditional New Keynesian policies.

We present a unique implementation of Python coding in an asynchronous object-oriented programming (OOP) framework to fully automate the process of collecting data with the George Mason University (GMU) Observatory's 0.8-meter telescope. The goal of this project is to perform automated follow-up observations for the Transiting Exoplanet Survey Satellite (TESS) mission, while still allowing for human control, monitoring, and adjustments. Prior to our implementation, the facility was computer-controlled by a human observer through a combination of webcams, TheSkyX, ASCOM Dome, MaxIm DL, and a weather station. We have automated slews and dome movements, CCD exposures, saving FITS images and metadata, initial focusing, guiding on the target, using the ambient temperature to adjust the focus as the telescope cools through the rest of the night, taking calibration images (darks and flats), and monitoring local weather data. The automated weather monitor periodically checks various weather data from multiple sources to automate the decision to close the observatory during adverse conditions. We have organized the OOP code structure in such a way that each hardware device or important higher-level process is categorized as its own object class or "module" with associated attributes and methods, with inherited common methods across modules for code reusability. To allow actions to be performed simultaneously across different modules, we implemented a multithreaded approach where each module is given its own CPU thread on which to operate concurrently with all other threads. After the initial few modules (camera, telescope, dome, data I/O) were developed, further development of the code was carried out in tandem with testing on sky on clear nights. The code, in its current state, has been tested and used for observations on 171 nights, with more planned usage and feature additions., Comment: 69 pages, 17 figures, 3 tables. Accepted for publication in the Journal of Astronomical Telescopes, Instruments, and Systems

This paper uses the concept of “Personnel is Policy” to extend the theory of regulatory capture to the political appointment of agency commissioners. The “Personnel is Policy” theory provides three important insights. First, it shows that whether or not an interest group benefits from a regulatory agency depends on the particular individuals appointed to run it. Second, the president plays an important role in regulatory capture by nominating individuals to be appointed to the commission. Third, regulatory capture does not follow a pre-determined path because the commissioners continually change. The theory is then used to explain the early years of a prominent regulatory agency created during the Progressive Era: the Federal Trade Commission. From the perspective of the big business “trust” interest group, their success at capturing the FTC to achieve their goals of controlling competition and blocking hostile antitrust actions was largely a result of who was appointed to the commission. The trusts were the most successful during the years of 1915–1916 and 1925–1929.

Murray Rothbard’s The Progressive Era contains nine full chapters of Rothbard’s unfinished manuscript as well as later published essays on material he wanted to discuss (Rothbard 2017). Chapter 9, “The National Civic Federation: Big Business Organized for Progressivism,” documents the cartelizing state and local reforms pushed by big business, big government, and court intellectuals in the early twentieth century. In Chapter 10, of which only notes remain because it was unfortunately not written, Rothbard would have continued his analysis of local Progressive Era interventions by analyzing both their political and urban reforms. Using his published writings and lectures, this paper discusses what Rothbard would have written about in the tenth chapter of the book.

The HabEx and LUVOIR mission concepts reported science yields for mission scenarios in which the instruments must search for potentially habitable planets, determine their orbits, and, if worthwhile, invest the integration time for a spectral characterization. We evaluate the impact of prior knowledge of planet existence and orbital parameters on yield for four mission concept architectures: HabEx 4m telescope with hybrid starshade and coronagraph, HabEx 4m telescope with starshade only, HabEx 4m telescope with coronagraph only, and LUVOIR B 8m telescope with coronagraph only. We use perfect prior knowledge to establish an upper bound on yield and use partial prior knowledge from a potential future extreme precision radial velocity (EPRV) instrument with 3 cm / s sensitivity. We detail a modeling framework that performs dynamically responsive observation scheduling with realistic mission constraints. We evaluate exo-Earth yields against three metrics of spectral characterization for the four mission architectures and three levels of prior knowledge (none, partial, and perfect). The EPRV provided prior knowledge increases yields by ∼30 % and accelerates by a factor of 3 to 6 the time to achieve half of the yield of the mission. Prior knowledge makes all the mission architectures more nimble and powerful, and most especially starshade-based architectures. With prior knowledge, a small telescope with a starshade can achieve comparable yield to a larger telescope with a coronagraph.

Planet yield calculations may be used to inform the target selection strategy and science operations of space observatories. Forthcoming and proposed NASA missions, such as the Wide-Field Infrared Survey Telescope (WFIRST), the Habitable Exoplanet Imaging Mission (HabEx), and the Large UV/Optical/IR Surveyor (LUVOIR), are expected to be equipped with sensitive coronagraphs and/or starshades. We are developing a suite of numerical simulations to quantify the extent to which ground-based radial velocity (RV) surveys could boost the detection efficiency of direct imaging missions. In this paper, we discuss the first step in the process of estimating planet yields: generating synthetic planetary systems consistent with observed occurrence rates from multiple detection methods. In an attempt to self-consistently populate stars with orbiting planets, it is found that naive extrapolation of occurrence rates (mass, semi-major axis) results in an unrealistically large number-density of Neptune-mass planets beyond the ice-line ($a \gtrsim 5$au), causing dynamic interactions that would destabilize orbits. We impose a stability criterion for multi-planet systems based on mutual Hill radii separation. Considering the influence of compact configurations containing Jovian-mass and Neptune-mass planets results in a marked suppression in the number of terrestrial planets that can exist at large radii. This result has a pronounced impact on planet yield calculations particularly in regions accessible to high-contrast imaging and microlensing. The dynamically compact configurations and occurrence rates that we develop may be incorporated as input into joint RV and direct imaging yield calculations to place meaningful limits on the number of detectable planets with future missions., Comment: 22 pages, 17 figures, 5 tables, accepted to ApJ

This paper argues that Senator John Sherman of Ohio was motivated to introduce an antitrust bill in late 1889 partly as a way of enacting revenge on his political rival, General and former Governor Russell Alger of Michigan, because Sherman believed that Alger personally had cost him the presidential nomination at the 1888 Republican national convention. When discussing his bill on the Senate floor and elsewhere, Sherman repeatedly brought up Alger’s relationship, which in reality was rather tenuous, with the well-known Diamond Match Company. The point of mentioning Alger was to hurt Alger’s future political career and his presidential aspirations in 1892. Sherman was able to pursue his revenge motive by combining it with the broader Republican goals of preserving high tariffs and attacking the trusts. As a result, this paper reinforces previous public choice literature arguing that the 1890 Sherman Act was not passed in the public interest, but instead advanced private interests.

This paper challenges the recent research of public interest historians and argues the evidence supports a public choice interpretation of the 1906 Meat Inspection Act. First, the Beef Trust’s slaughter of diseased meat was due to the uncertainty over the science of disease transmission and using it was the only way at the time to make meat affordable to consumers. Second, critics of the Beef Trust’s sanitary practices were often biased and they exaggerated the problem. Third, the evidence is consistent with the argument that the Beef Trust captured the regulation because the law was associated with an increase in their market share, less product choice, and higher meat prices, all of which hurt consumers.

This paper examines the American post-WW1 boom and bust. It argues that the Federal Reserve’s monetary easing from 1919 to 1920 created an Austrian Business Cycle (ABC), or an unsustainable credit boom. The collapse of the boom initiated the Depression of 1920–1921. The subsequent laissez faire policy promoted a swift recovery. In particular, the natural recovery began following a severe liquidation of firms, reallocation of resources, and wage cuts stimulated by fiscal and monetary contraction. Contrary to some other accounts, we find that significant recovery began before the Federal Reserve’s 1921–1922 monetary easing affected the economy. We also address other criticisms of the credit-cycle interpretation.

A vital part of urban progressivism, as shall be seen further below, was a frenetic attack on the ‘corruption’ of politicians . . . (Rothbard 2017, 285). The Progressive Era, written by Murray Rothbard and edited by the present writer, was recently published by the Ludwig von Mises Institute in the fall of 2017 (Rothbard 2017). It contains nine full chapters of Rothbard’s planned book on the period as well as later published essays on material Rothbard wanted to discuss in the book. Chapter 9, “The National Civic Federation: Big Business Organized for Progressivism,” documents the cartelizing state and local reforms pushed by big business, big government, and court intellectuals in the early 20th century. In Chapter 10, of which only notes remain because it was unfortunately not written, Rothbard would have continued his analysis of local Progressive Era interventions by analyzing both their political and urban reforms. Some of his important insights were included in the published essays later in the book as well as in other writings not included (Rothbard 1962, 1974, 2011 [1978], 1995). Rothbard’s lecture series “The American Economy and the End of Laissez Faire: 1870 to World War II,” given at Brooklyn Polytechnic in 1986, followed the format of the unpublished manuscript of The Progressive Era and continued where Rothbard left off. Immediately after finishing with the material provided in Chapter 9, the lecture series moved into his notes on the political and local reforms of the era (Rothbard 1986). Using his published writings and lectures, this article will discuss what Rothbard would have written about in the tenth chapter of the book.

“Laws, like sausages, cease to inspire respect in proportion as we know how they are made.” -John Godfrey Saxe, 1869 (Shapiro 2008) Abstract: This paper analyzes the relationship between government intervention and the Chicago Beef Trust in the late 19th and early 20th century up to the historically significant 1906 Meat Inspection Act. It argues that in order to understand the process behind the 1906 act one must also understand the motivations behind prior meatpacking regulations. The large Chicago meatpacking firms, innovators in meat safety and quality, were one of many special interest groups involved in the legislative arena and consequently lobbied against damaging legislation and supported the passage of laws they could benefit from. With regards to the 1906 inspection act the packers successfully blocked hostile legislation and instead secured an increase in government subsidized inspection and an extension of regulatory compliance to smaller competitors. This regulatory capture resulted in industry consolidation and higher prices at the expense of smaller competitors and consumers. Government meat regulation was not the result of one monolithic special interest but instead due to the complex interaction between rival and antagonistic groups.

"[C]oncentration on a single firm and the reaction of its owner is not the appropriate route to the theory of production; on the contrary, it is likely to be misleading…In the current literature, this preoccupation with the single firm rather than with the interrelatedness of firms in the economy has led to the erection of a vastly complicated and largely valueless edifice of production theory (Rothbard 2009 [1962], 455)."This paper analyzes a recently reconstructed proto-chapter of Rothbard’s Man, Economy, and State (2009 [1962]) tentatively titled "Chapter 5: Producer’s Activity" (Rothbard [2015] 1953). In it, Rothbard used many concepts of standard Neoclassical firm analysis that he would later criticize, such as perfectly competitive markets and the isolated firm. This paper juxtaposes the proto-chapter with Rothbard’s finished work and argues that after grappling with the problems of Marshallian partial equilibrium production theory, Rothbard substituted it with an Austrian general equilibrium. This distinctive approach did not construct production theory from the vantage point of an isolated price taking firm, but rather viewed the overall economy as a temporal and dynamic production structure from the perspective of the capitalist-entrepreneur. This Austrian production theory has important consequences for understanding the efficiency of markets, the formation of output and input prices, and the profit maximizing output level of an isolated firm.

This paper critiques the Keynesian liquidity trap from an Austrian perspective. The liquidity trap theory argues that at a given interest rate the demand for money is horizontal, and interest rates cannot fall to stimulate investment. The major problem in the theory is that it concentrates on the loan interest rate instead of the price spread in the structure of production, called the natural rate, which as the Austrians have argued is the true interest rate determined by time preferences that the former is only a reflection of. Loan interest rates do not fall because individuals expect the price spread to rise. The rising price spread represents the healthy market correction from a prior boom when interest rates were artificially lowered and must occur for a sustainable recovery. Barring rigid prices from government intervention, which prevent the necessary market adjustments, the liquidity trap does not pose a problem for the free market economy.

This chapter provides a comprehensive survey of the contributions of the Austrian school of economics, with specific emphasis on post-WWII developments. We provide a brief history and overview of the original theorists of the Austrian school in order to set the stage for the subsequent development of their ideas by Ludwig von Mises and F. A. Hayek. In discussing the main ideas of Mises and Hayek, we focus on how their work provided the foundations for the modern Austrian school, which included Ludwig Lachmann, Murray Rothbard and Israel Kirzner. These scholars contributed to the Austrian revival in the 1960s and 1970s, which, in turn, set the stage for the emergence of the contemporary Austrian school in the 1980s. We review the contemporary development of the Austrian school and, in doing so, discuss the tensions, alternative paths, and the promising future of Austrian economics.

This paper analyzes the two main divergent interpretations of Federal Reserve monetary policy in the 1920s, the expansionary view described by Rothbard (2008a [1963]) and earlier “Austrian” writers, and the contractionary view most notably held by Friedman and Schwartz (1993 [1963]) and later monetary historians. This paper argues in line with the former that the Federal Reserve engaged in expansionary monetary policy during the 1920s, as opposed to the gold sterilization view of the latter. The main rationale for this argument is that the increase in the money supply was driven by the increase in the money multiplier and total bank reserves, both of which were caused primarily by Fed policy (i.e., a decrease in reserve requirements and an increase in controlled reserves, respectively). Showing that this expansion did in fact occur provides the first step in supporting an Austrian Business Cycle Theory (ABCT) interpretation of the 1920s, namely that the Federal Reserve created a credit fueled boom that led to the Great Depression, although this is not pursued in the paper.

This paper investigates the background behind the United States’ National Banking System (1863-1913) and develops a special interest account for its passage. It first argues that an important relationship, the Chase-Cooke connection between Treasury Secretary Salmon P. Chase and Philadelphia investment banker Jay Cooke, was indispensable for both the passage of the 1863 National Banking Act and the initial survival of the new system. It then argues that the 1864 National Banking Act revisions were passed so that a separate set of interests, the prominent but hostile New York City banks, would be enticed to join the system. Cooke benefited because national banks would purchase government bonds he was selling in order to back their bank notes, while the New York City banks benefited because national banks in other large cities could count their deposits in those banks as reserves. The concentration of reserves in a few banks led to the creation of an unstable banking system.

This paper discusses the consequences of John Maynard Keynes for the science of political economy, or the fields of economics, economic policy, and politics. It argues that the consequences of Keynes in all three fields were negative and resulted in a significant retrogression. For economics, a macroeconomic theory of an unstable capitalist economy supplanted the theory of the market process which concentrated on the individual actions of entrepreneurs and their effects on relative prices and production. For economic policy, activist tinkering on behalf of policy advisors replaced the theory of limited and hands off governments. For politics, unrestricted politicians and continual deficits and inflation replaced restrained politicians who adhered to balanced budgets and sound money.

This paper examines the American post-WW1 boom and bust. It finds that the Federal Reserve’s monetary easing from 1919-1920 created an Austrian Business Cycle (ABC), or an unsustainable credit boom. The collapse of the boom initiated the Depression of 1920-1921. The subsequent laissez faire policy promoted a swift recovery. In particular, the recovery began following a severe liquidation of firms, reallocation of resources, and wage cuts stimulated by fiscal and monetary contraction. Contrary to some other accounts, we find that significant recovery began before the Federal Reserve’s 1921-1922 monetary easing affected the economy. We also address other criticisms of the credit-cycle interpretation.

"[C]oncentration on a single firm and the reaction of its owner is not the appropriate route to the theory of production; on the contrary, it is likely to be misleading…In the current literature, this preoccupation with the single firm rather than with the interrelatedness of firms in the economy has led to the erection of a vastly complicated and largely valueless edifice of production theory (Rothbard 2009 [1962], 455)."This paper analyzes a recently reconstructed proto-chapter of Rothbard’s Man, Economy, and State (2009 [1962]) tentatively titled "Chapter 5: Producer’s Activity" (Rothbard [2015] 1953). In it, Rothbard used many concepts of standard Neoclassical firm analysis that he would later criticize, such as perfectly competitive markets and the isolated firm. This paper juxtaposes the proto-chapter with Rothbard’s finished work and argues that after grappling with the problems of Marshallian partial equilibrium production theory, Rothbard substituted it with an Austrian general equilibrium. This distinctive approach did not construct production theory from the vantage point of an isolated price taking firm, but rather viewed the overall economy as a temporal and dynamic production structure from the perspective of the capitalist-entrepreneur. This Austrian production theory has important consequences for understanding the efficiency of markets, the formation of output and input prices, and the profit maximizing output level of an isolated firm.

This paper analyzes the period 1867-79 in American economic history from an "Austrian" perspective. The post-Civil War boom, the Panic of 1873, and the subsequent downturn are investigated in light of Austrian Business Cycle Theory (ABCT) and its structure of production framework. This paper shows how recent legislation allowed for monetary inflation and a boom to develop that inevitably turned into a bust. However, since the federal government pursued a policy of relative laissez faire, the economy successfully recovered. Consequently, there was no prolonged depression in the 1870s.

Background: The biconvex mobile core of the CHARITE lumbar disc prosthesis forms two joints (spherical bearings) with the metal end plates. We quantified the intra-prosthesis motion to test the hypothesis that the total prosthesis motion would not be equally distributed between the two bearings of implanted CHARITE discs, which might explain the unequal wear distribution reported in explanted cores. Methods: The hypothesis was tested by studying the flexion-extension motion responses of (1) twenty-six monosegmental CHARITE III discs implanted in nineteen human cadaveric lumbar spines, and (2) twenty-one CHARITE III discs (fifteen monosegmental, six bisegmental) implanted in eighteen patients in other published clinical studies. Intra-prosthesis motions were quantified with use of a radiographic image analysis technique. Results: Eighty-eight percent of the CHARITE discs implanted in cadaveric specimens exhibited larger motion at the superior bearing, with 54% demonstrating more than twice as much motion at the superior bearing as at the inferior bearing. The ratio of motion at the superior bearing to motion at the inferior bearing averaged 2.68 ± 1.84, which was significantly larger than 1.0 (p < 0.001). Ninety percent of prostheses implanted in patients showed larger motion at the superior bearing. The motion ratio averaged 2.39 ± 2.47 for monosegmental cases and 2.55 ± 2.66 for all cases; both ratios were significantly larger than 1.0 (p < 0.05). Conclusions: We found preferentially larger motion at the superior bearing of the CHARITE discs implanted in human cadaveric lumbar spines and in patients, regardless of the implanted level. Clinical Relevance: The findings regarding unequal motion distribution between the dual bearings of mobile-core disc prostheses are relevant to improving in vitro wear testing protocols to better replicate in vivo wear-producing conditions.

We present the discovery and characterization of five hot and warm Jupiters -- TOI-628 b (TIC 281408474; HD 288842), TOI-640 b (TIC 147977348), TOI-1333 b (TIC 395171208, BD+47 3521A), TOI-1478 b (TIC 409794137), and TOI-1601 b (TIC 139375960) -- based on data from NASA's Transiting Exoplanet Survey Satellite (TESS). The five planets were identified from the full frame images and were confirmed through a series of photometric and spectroscopic follow-up observations by the $TESS$ Follow-up Observing Program (TFOP) Working Group. The planets are all Jovian size (R$_{\rm P}$ = 1.01-1.77 R$_{\rm J}$) and have masses that range from 0.85 to 6.33 M$_{\rm J}$. The host stars of these systems have F and G spectral types (5595 $\le$ T$_{\rm eff}$ $\le$ 6460 K) and are all relatively bright (9 $ 1.7R$_{\rm J}$, possibly a result of its host star's evolution) and resides on an orbit with a period longer than 5 days. TOI-628 b is the most massive hot Jupiter discovered to date by $TESS$ with a measured mass of $6.31^{+0.28}_{-0.30}$ M$_{\rm J}$ and a statistically significant, non-zero orbital eccentricity of e = $0.074^{+0.021}_{-0.022}$. This planet would not have had enough time to circularize through tidal forces from our analysis, suggesting that it might be remnant eccentricity from its migration. The longest period planet in this sample, TOI-1478 b (P = 10.18 days), is a warm Jupiter in a circular orbit around a near-Solar analogue. NASA's $TESS$ mission is continuing to increase the sample of well-characterized hot and warm Jupiters, complementing its primary mission goals., Comment: 25 Pages, 7 Figures, 5 Tables, Accepted to The Astronomical Journal