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- Keynes and Hayek talked to each other,but didn't listen
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Hayek the Economist and Social Philosopher: A Critical Retrospect
Manufacturer: Palgrave Macmillan
ProductGroup: Book
Binding: Hardcover
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ASIN: 0312129025 |
Book Description
This volume provides a critical assessment of the wide spectrum of Hayek's celebrated work as economist and social philosopher. Included are papers on Hayek's early writings in the field of monetary economics, on which his later campaign against inflation, his controversial proposal for competing currencies, and his negative view of the impact of trade unions on the economy are based. Hayek's social philosophy, often regarded as the centre piece of his famous work, and the fundamental findings about human thinking, society, the market system and social rules of conduct it is based on, is evaluated by leading contemporary social philosophers. The volume leaves little doubt as to the considerable impact of Hayek's thinking on economic policy and social philosophy.
Customer Reviews:
Keynes and Hayek talked to each other,but didn't listen.......2005-02-13
Frowen has edited an interesting collection of essays covering Hayek's work on such topics as his general philosophy, his political and social philosophy,his approach to analyzing the role played by knowledge,information,partial knowledge and ignorance,his interactions with and critical assessments of Keynes's approach to capital theory,as well as Hayek's understanding of how society is able to solve the question of the economic coordination of individual decision making problems intertemporally.I will concentrate the rest of the review on the essays(#1 and #11) contributed by Desai and Steele,as well as the comments of Holscher(who does a superb job in demonstrating the importance of the banker in making the credit available to the entreprenuer in order for him to even attempt to innovate),Chick,and Steele.A major error is made by Steele when he states that the "...General Theory incorporates no theory of capital".(p.258).Keynes's theory of capital is the standard analysis one finds specified in all current principles textbooks under the heading of Production Possibilities Frontier(PPF) or Curve analysis.In the 1930's-1940's this was called the Transformation Curve.Outside of one oblique reference on page 156,none of the author's of any of the essays mention this analysis when discussing Hayek's work and/or Keynes's work or the differences between Keynes and Hayek.This is the main problem with Desai's essay.The reader has no way of comparing the different positions of Keynes and Hayek because no yardstick is specified.This deficiency can be remedied by the use of the production possibilities frontier concept.There are two PPF's- the static and the dynamic.The static PPF assumes that the capital stock is held fixed in the short run and that in the short run there is no technological advance and/or innovation.Thus, the short run PPF can't shift.The long run PPF eliminates these assumptions ,it generally being the case that it is shifting outward over time as investment in improved kinds of capital goods reflects economic growth over time.Both kinds of PPF have an interior region and a boundary region.Only on the boundary of the PPF's does the fact of resource scarcity constrain choice .A boundary position on either type of curve reflects the full employment of all resources available for use and allows for the existence of slack.Slack in the labor market would be given by the sum of frictional and voluntary unemployment.The existence of slack capital goods would refer to machines and equipment undergoing maintenance,repair, retooling or upgrading.Assuming two basic kinds of goods,Keynes's consumption goods and investment goods,Pigou's wage goods and non wage goods,or Hayek's consumer goods and capital(producer)goods,an economy operating on the boundary would exhibit an inverse or negative relationship between both kinds of goods.An economy operating in the interior would exhibit a positive or direct relationship.Obviously,a general theory would have to deal with both cases.Thus,Keynes's theory emphasizes that the private sector by itself is usually operating in the interior of both PPF's .This is caused by the extreme difficulty of making correct intertemporal decisions ,made under conditions of uncertainty(partial knowledge or information or low weight of evidence or ambiguity,to use D. Ellsberg's term)or ignorance,about an optimal stock of capital(investment,nonwage) goods that is constantly subject to cyclical changes that are not periodic(an irregular regularity, a la Schumpeter).These changes are induced by technological advances and innovations that cluster together(swarms,in Schumpeter's words).The expected ,future rate(and total amount)of profit of using these capital goods is generated over time (and, at a point of time,a stock)by the sale of the consumption goods that were created with the use of the stock of capital goods combined with labor services.Involuntary unemployment ,for Keynes,is directly due to the aggregated "failure" of business,as a whole,to solve the intertemporal optimal capital stock allocation problem.Businessmen,in the face of the uncertainty and ignorance of the future,either decide not to invest in capital goods or to spaceout,cut back or slow down their investment expenditures.They decide to increase their liquidity as a way of insuring themselves against ignorance and/or uncertainty.I find the following quote of Steele to be unsupported.Supposedly,"...Keynes's knowledge of capital theory was'widely recognized' to be 'inadequate'...It was this alleged deficiency that caused Keynes(as part of his General Theory)to make investment depend primarily upon the demand for consumption goods.This was a crucial error".(Steele.p.238)There is no error here.The refutation given by Hayek,that a fall in the relative prices of consumer goods will increase the relative profitability of more capitalistic production methods(the Austrian capital theory concept of roundaboutness)holds only on the boundary of the dynamic PPF.It is now obvious that Keynes and Hayek are talking about different positions on the PPF.A careful examination of the collected works of both Keynes and Hayek shows that neither of them took the time to state to the other what their assumptions were.Hayek appears to mean the pure theory of capital assuming a boundary position.Keynes(see Steele,p.241),in his dismissal of Hayek's correct boundary analysis,is clearly dealing with applied theory.In the 1920's-1930's,due to the Great Depression,Keynes simply assumed that Hayek was presenting an argument about an economy operating in the interior of its PPF.Note that nowhere in all of the Hayek-Keynes correspondence did Hayek (or Keynes)write a simple note of explanation to the other scholar, using the literary equivalent of the standard PPF analysis,explaining explicitly what they were assuming.The comment of Chick and the reply of Steele demonstrate that they are talking past each other.Contrary to Chick,Keynes's general theory includes the Hayekian position as a special case if the economy is operating on the boundary.In fact,if sufficient public goods investment eliminates the sub optimal stock of capital goods problem in the private sector and keeps the economy on boundary positions,Keynes's theory merges with Hayek's theory.Only in the interior does Keynes argue that investment is primarily a function of the EXPECTED(not actual) sales of consumer goods.On the boundary,an inverse relationship exists between consumer goods and capital goods.Investment would then be independent of actual consumer demand,but still be dependent on future,expected consumer demand.I recommend this book in its present form despite the fact that the reader will not be able to discern why the disagreements between Keynes and Hayek were never resolved unless he really understood his PPF analysis when he took his principles of economics courses.
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Cal: Celebrating the Career of a Baseball Legend
Sporting News , and
The Sporting News
Manufacturer: McGraw-Hill/Contemporary
ProductGroup: Book
Binding: Hardcover
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ASIN: 0892046422 |
Book Description
Among baseball players, few have the respect and adoration that Cal Ripken Jr. has earned throughout his career. With dignity and class, Cal has played on, and on, and on, eclipsing Lou Gehrig's record for consecutive games in 1995. And on he went, finally calling the record quits in 1998 and moving into exclusive baseball company with his 400th home run and 3,000th hit. 2001 will mark the end of his extraordinary career, which has been captured in Cal.
The Sporting News, in conjunction with the writers and photographers at The Baltimore Sun, will brings you the commemorative celebration of a celebrated career, from his sensational rookie season in 1983 to his 2001 All-Star Game heroics and his final moment on the field.
Nine chapters recap Ripken's amazing career. The Sporting News senior writer and former Baltimore Sun columnist Ken Rosenthal looks at Ripken The Icon, finding Ripken's rightful place in baseball history. The Sun's Joe Strauss recaps Ripken's final playing days, from his retirement announcement to his final curtain call at Camden Yards to his final game at Yankee Stadium.
Other chapters recall Ripken's spine-tingling run into baseball history, Cal's coming of age on the national scene, his mold-breaking play as a shortstop and the role his family, especially his father and brother, played in his career.
It's the ultimate keepsake of a player for the ages.
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The Faber Book of Movie Verse
Philip French
Manufacturer: Faber & Faber
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Binding: Paperback
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ASIN: 0571173292 |
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Faber Book of Movie Verse
Manufacturer: Ramboro Books PLC
ProductGroup: Book
Binding: Hardcover
ASIN: 7215995615 |
Book Description
Television has become so saturated with commercials that it is difficult at times to tell the different images apart, much less remember or care about them. But, on closer look, television commercials can tell us a great deal about the interplay of market forces, contemporary culture,and corporate politics. This book views contemporary ad culture as an ever-accelerating war of meaning. The authors show how corporate symbols or signs vie for attention-span and market share by appropriating and quickly abandoning diverse elements of culture to differentiate products that may be in themselves virtually
indistinguishable. The resulting "sign wars" are both a cause and a consequence of a media culture that is cynical and jaded, but striving for authenticity.
Including more than 100 illustrations and numerous examples from recent campaigns, this book provides a critical review of the culture of advertising,
exposes the contradictions that stem from turning culture into a commodity, and illuminates the impact of television commercials on the way we see and understand the world around us.
Customer Reviews:
Elves, men, and dwarves.......2007-01-12
If you are planning any sort of Fantasy based game for GURPS, this book is a must. Not only does it present the classic races of elves, dwarves, gnomes, orc, halflings, and various others, but also gives them character more so than any other game I have found. Each race is given at least 2 to 3 pages of text, and that doesnt include the game mechanics. Also, because of the GURPS system, it is easy to modify and change the existing races for your personal games.
Also, their is a section on creating your own races for your game, which proves invaluable to any game master wanting to put in his own ideas. This is an award winning book, and a quick look through its pages will show you why.
Innovatively presented fantasy staples for GURPS........1998-04-01
This excellent source books provides a way to create fantasy races and provides some very good examples using well-chosen fantasy races. People who have read the Fantasy Trip, Tunnels and Trolls and D&D rpgs will recognise and welcome these architypal races presented in a fresh and interesting style.
Book Description
This unique guide emphasizes digital "photography", rather than software. You'll learn how to take compelling pictures and make great images using imaging technology while focusing on the special strengths of digital SLR cameras. Whether you're a snap-shooting tyro, or an experienced photographer moving into the digital SLR realm, you'll find the knowledge you need inside the pages of "Mastering Digital SLR Photography." If you have mastered you digital camera's basic features and now wonder what to do with them, this is your dream guide to pixel proficiency. Learn how to overcome the quirks and maximize the strengths of your dSLR camera. From lens selection and creative exposure techniques to controlling composition and mastering special features, this book will help you effectively combine the essentials of photography with digital technology.
Customer Reviews:
Good, here's better.......2007-09-01
Packed with useful information to help you understand your camera and how it works, illustrated with uninspiring photos. For a fast track to better photos, an introduction to exposure, a quantum leap in the percentage of keepers, and stunning photos that teach each concept, Understanding Exposure: How to Shoot Great Photographs with a Film or Digital Camera (Updated Edition) is more effective, more inspiring, and an easy read, to boot.
Choosing and using equipment.......2007-07-18
This book provides an overview of equipment available for digital photography (in 2005). Busch begins with a brief introduction of types of digital cameras and how they were developed. Then he describes how digital sensors work and provides implications for equipment. Next, he explains some common SLR controls, such as exposure and focusing. He describes how dust can get into digital SLR cameras and how to clean mirrors and sensors. He also explains the differences between various digital image formats. The next section of the book covers equipment choices in greater detail, such as general lenses, and lenses for special purposes such as close-ups or sports. Towards the end of the book, composition and special techniques such as infrared photography are covered briefly. End material includes a glossary and in index.
Although the book covers a wide range of digital photography topics, I found it didn't address my needs at all. Busch assumes that readers will be experienced and skilled SLR camera users, so he devotes much of the text to describing digital equipment, rather than describing how to use an SLR camera. This book has made me more informed about the equipment that is available for digital SLR photography, but for instructions on how to do SLR photography, it seems I will have to study a film-based SLR book. I'm sure there must be differences in technique between film-based and digital SLR photography, but this book isn't a great resource for learning them.
Excellent overview of digital SLR photography .......2007-03-31
This book covers every aspect of photography using a digital Single Lens Reflex camera. It comprehensively explains all features and how best to use and take advantage of them. Nothing is missed. Most useful for anyone graduating to digital SLR from compact forms of digital camera, or from 35mm SLR cameras. Highly recommended.
Good information but similiar to other titles.......2007-02-23
I purchased this book after reading another title by the same author - Mastering Digital Photography. I thought this book would go into more detail regarding SLR cameras. This book is very similiar to Mastering Digital Photography and includes much of the same content. The book(s) are good, however, I would not reccomend purchasing both titles.
Easy to read and understand.......2007-02-18
This is a very comprehensive book and the author really knows how to convey difficult information in an easily understood way--he is a born teacher. I loved this book, since I went from knowing very little about digital photography to feeling I can carry a technical conversation with anyone on the subject. I have since found this author in other publications, so he is pretty prolific. I like his writing style and will buy more books by him.
Customer Reviews:
Excellent Primer.......2007-01-02
This book takes you through the terminology, meaning and use of the features of your digital SLR. Very easy read; been through it roughly twice myself. This is the book that got me from 'what is going on' to 'ah, I see' after purchasing a Canon 30D. After reading this book, I could at least understand the 30D manual!
The book stops at basic digital workflow. To pick up from there, have a look at the books by Scott Kelby about Photoshop. If you're looking to understand how to get sharp photos, have a look at "Digital Photography", also by Scott Kelby.
For Those Considering A Switch From Film To Digital.......2006-11-10
I think I would have purchased Chris Weston's MASTERING YOUR DIGITAL SLR simply for its photos. Just looking at the book makes the reader want to get up, get the camera, and begin shooting, but most how-to books on photography have beautiful pictures, and many times they can be sparse on content. I found that this book has both good content and inspiring shots.
The purpose of the book seems two-fold. First, it aims at convincing film users that the digital world is not as scary as many think and good, artistic photography is available using digital cameras. Throughout the book the author points out how the film and digital differ. The second purpose of this book is as an introduction to people who may be new at photography and shows the way a SLR differs from a point and shoot camera. For some of the information in the book, the information could apply to either a digital or film camera since the basics of photography are the same.
For me, the most helpful portion of the book is the third section on image processing. As a film user, primarily color prints and E-6 slides, processing meant dropping off film and visiting the lab to correct flawed but interesting photos. With digital, a home computer can become the lab. The book gives and introduction to how photos can be improved, the software and printers needed, and provides explanations of new terms. As I have started doing some repairs to images and trying to enhance others, I've found the book helpful as a beginner to using a computer to edit and enhance photos.
At one point, the author states that for many people, digital has helped rekindle their love of photography. I didn't think my love for photography needed a jump start until I purchased my new digital camera (the Nikon D70S. Now that I have, I can't wait to get out and get some shots or set up something just to use the camera. Digital is enjoyable, can be artistic, and is with considering and trying.
Excellent Digital Photography Book.......2005-11-11
This book is an expansion on his book - '500 Digital Photography Hints, Tips, and Techniques: The Easy, All-in-One Guide to those Inside Secrets for Better Digital Photography (Paperback)'. This is the best digital photography book I bought. The writing is very clear and full of tips. I especially like the topic on exposure compensation and white balance and certainly benefit a lot from the book while exploring the features on my Canon 350D. The pictures are very good (beautiful). I strongly recommend it for those new in DSLR. The book is published on very high quality gloss papers and certain worth the price as it is a very durable hard cover book.
Magnify your eyes.......2005-07-07
The pictures are nice. The quality of the book is superior.
The print is so small it is almost impossible to read and takes away from the reading experience
Book Description
Mastering Composition with Your Digital SLR is a master class in creative composition techniques. With step-by-step workshops on portraits and people shots, landscapes and action, action images and specialized techniques, this book shows photographers how to think about the creative aspects of pushing the shutter. Stunning examples and detailed workshops focus on in-camera techniques, along with information on using software. For photographers who are ready to move beyond the manual, here is the book that reveals how to improve visual instinct and maximize creative potential.
Book Description
Here is a rare glimpse behind purdahÂ's curtain into the lives of four brilliant maharanis-the wives of Maharajas-who helped shepherd princely India into the twentieth century. Tracing the lives of these influential women from the final days of the raj and the British Empire to the present, Lucy Moore vividly re-creates a splendid lost world as well as describes the growing pains of the emerging democratic society in India.
Educated, nationalist Chimnabai, born in 1871, in the wake of the ÂIndian Mutiny of 1857, began her marriage in purdah but broke it in 1913, and spent the rest of her life campaigning tirelessly for womenÂ's rights. The comparatively demure Sunity Devi was a favorite of the British aristocracy and made Queen Victoria the godmother of her son, Victor. Her prim demeanor belied a passionate social activism on behalf of the poor and uneducated. ChimnabaiÂ's ravishing daughter, Indira, broke off an arranged marriage so she could marry Sunity DeviÂ's dashing son, Jit. But when her beloved husband died young, far from committing sati, she became the regent of his state, a job she took on with gusto though she maintained a sybaritic life abroad. In fact, among the jet set in which she traveled-including Noel Coward, Douglas Fairbanks, Jimmy Stewart, and the Prince of Wales-she was known as the Maharani of Couche Partout because of her penchant for scandalous love affairs. Ayesha, IndiraÂ's equally fashionable daughter and friend to the Kennedys, was elected-with the greatest majority ever recorded-to the Parliament of an independent India in 1962. She remains a social activist and benefactress to this day. These women have lived in a lavish, if sometimes tragic, fairy tale-their palaces were modeled on Versailles; they wore sunglasses carved out of emeralds and saris made of chiffon. They kept jewel-encrusted turtles for luck, went on tiger hunts with the European royalty, and socialized with the chic and infamous. With exhausting frequency they lost husbands and children to alcoholism. But throughout their glamorous lives they fought tirelessly for civil rights and were able to turn a tradition of noblesse oblige into a progressive democracy.
It is through their struggles that we begin to understand the nuance implicit in any interaction between the rulers and the ruled, race and class, subservience and independence, Eastern and Western ideas, and ancient and modern ways of life. Maharanis is the unforgettable story of four magnificent queens who defied centuries of tradition to embrace lives of adventure, passion, and political engagement.
Customer Reviews:
An incredibly fascinating book.......2007-07-08
I grew up in Baroda and never knew the extent of its royal history until I read it in this book. It is a lovely story of four amazing women who ruled kingdoms, married men who frequently cheated, had children and even watched them die. I kept reading and reading and got swept up into their world....worlds of glamor, decadence and tragedy. I was glued to the family trees and the photos throughout. The book is all history and is not fiction and that is what makes it great...everything we read is as real as it gets. Moore has painstakingly researched the novel and it shows in every page. My only complaint was the skipping back and forth in time got a little confusing....but still a great novel!
Fascinating Maharanis at large!.......2005-09-18
Moore delves into the backgrounds, personalities and personal relationships of these four fascinating Indian Maharanis (all blood-connected to the great Gayatri Devi) in such a fresh way that it is a pleasure to read. Full of anecdotes (I loved the stories about "Ma", the Maharani of Cooch Behar). I devoured the whole book in a trans-pacific flight!
A shame Moore did not publish more family pictures in the book!
R-
Fascinating journey to the bygone days.........2005-02-23
This is an excellent book that takes one back to the fascinating dusk of the glorious days of Indian Royals. Lucy Moore writes in her fluid style the story of four Maharani's all the way back from mid 1800s till now. The book gives an unique peek into the dual lives of Maharanis in their zenanas and the high society of Europe. Must read for subcontinental history buffs.
Book Description
In the early 1960s, in a small shack on the Washington coast, a young, self-educated Japanese scientist performed an experiment to determine what made a certain jellyfish glow. The substance he discovered, green fluorescent protein, would revolutionize molecular biology, transforming our study of everything from the AIDS virus to the workings of the brain. Aglow in the Dark follows the path that took this glowing compound from its inauspicious arrival on the scientific scene to its present-day eminence as one of the most groundbreaking discoveries of the twentieth century.
The story unfolds in far-flung places, from the coral reefs of the Pacific Ocean, to the medical schools and marine stations of our leading universities, to a cold war-era research laboratory in Moscow. Traversing the globe and the decades, Aglow in the Dark conveys the human fascination with bioluminescence, or "living light," its little-known application in war, forensic science, and molecular biology, and how it led to the finding of green fluorescent protein. The book reveals a hidden world where light is manipulated by animals and humans and put to remarkable uses--unlocking the secrets of the human brain, conquering dreaded diseases, and perhaps someday linking minds and machines. The authors deftly lead the reader through a complex story at the interface of biology and physics--and into the realm of wonder on the frontiers of scientific endeavor.
Customer Reviews:
A light in the darkness.......2007-07-19
This review is for the 2005 edition of this book which I checked out from the library of Arizona State University. This book covers the history of human research into biofluorescence, which is how life generates light without heat. This field of science started in Aristotle's time, but most research occurred in the 20th century after WWII. The book looks at the careers of various scientists involved in the research, and also explains the science itself. The difficulty of the text is beyond most high school students, and I would suggest some initial reading on biology, genetics and biochemistry before tackling this book. The book's size is small, with big words and occasional color pictures. Note that the emphasis of this book is on the science; the book does not provide a comprehensive coverage of biofluorescence in nature.
engaging stories about GFP and other fluorescent proteins.......2007-06-14
Are you working with GFP or other fluorescent proteins? This book is full of fascinating stories about the discovery and harnessing the power of fluorescent proteins. I couldn't put the book down - this is a must-read for all molecular biologists, but is probably easily accessible for non-professionals as well. I liked the design of the book, too. Will make an excellent gift.
Nice historical and scientific review........2007-06-08
I am studying dinoflagellate Lingulodinium polyedrum luciferase and fascinated by this book. It provides a comprehensive scientific backgroud in a format that can be understood by any reader with little or no scientific background. More over, the historical perspective is nicely blended in order to understand how the GFP and luciferases gained ground in last few years.
Loved this book!
Making real science available to everyone.......2006-04-24
Pieribone and Gruber report the science of green fluorescent proteins (GFP) in a way not usually encountered for science writing...that is leaving you wanting to know what happens next. From the first historical inquiries about glowing organisms to the marvelous, present day biotechnological uses of GFP, the authors narrate the life histories and trench work of the scientists primarily responsible for the discovery and scientific progression of fluorescent proteins in a very reader-inviting manner: with a lot of human interest, just enough science to allow you to know what they're talking about, and tons of oustanding pictures. Upon finishing the book, a reader may feel both entertained and an expert in fluorescent protein science at the same time!
Not as Much Science as Hoped.......2006-03-24
As mentioned in the synopsis, this book contains much of the story behind the discovery and isolation of fluorescent proteins. But more specifically it's about the scientist's lives, and how their discoveries impacted future research. While the history lesson was interesting, it did not contain enough specifics on the biophysics of protein function for my taste. In light of the book being almost entirely a narrative, I would've enjoyed a few more pictures. If you want the inside story on Glo-fish, buy it, if you're looking for detailed information on GFP, and related proteins, skip it.
Average customer rating:
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Wild Otters: Predation and Populations
Hans Kruuk
Manufacturer: Oxford University Press, USA
ProductGroup: Book
Binding: Hardcover
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ASIN: 0198540701 |
Book Description
Evidence pointing to a decline in the European Otter population (Lutra lutra) is causing concern among ecologists and conservationists. This important new book written from direct observation of otter populations in Scotland, is the first attempt at a scientific description of populations and behaviour of this species. This essential research offers a fascinating insight into the ecology of mammals living in a hostile environment and provides a much needed basis for active conservation management.
Books:
- Henry Ford, the man, the worker, the citizen,
- Hey, Waitress!: The USA from the Other Side of the Tray
- How They Achieved: Stories of Personal Achievement and Business Success
- I'd Like the World to Buy a Coke: The Life and Leadership of Roberto Goizueta
- I Inherited a Fortune
- In the Kingdom of Coal: An American Family and the Rock That Changed the World
- Investing for Middle America: John Elliott Tappan and the Origins of American Express Financial Advisors
- Invisible Giants: The Empires of Cleveland's Van Sweringen Brothers (Ohio)
- James J Hill & Opening of Northwest (Borealis Books)
- Jesse Livermore Speculator King
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