Friends in high places: The wealth effects of JFK's assassination on the assets of LBJ's supporters

This paper uses anecdotal evidence to identify a group of firms that had significant ties to President Lyndon Johnson and determines the effect of Johnson's unexpected rise to the Presidency on the market value of these firms. The unexpected nature of President Kennedy's death eliminates the confounding event problem typically associated with election results. We are able to identify four separate portfolios of firms that had political ties to Lyndon Johnson. Our research suggests that the market expected significant benefits to accrue to these firms as a result of Johnson's becoming President. When Catholic John Kennedy and Johnson were running together in 1960 a joke hop-scotched around the parties in Texas and Washington that Kennedy had told Johnson, “Lyndon, when we get elected I'm going to dig a tunnel to the Vatican,” and Lyndon had replied, “That's OK with me as long as Brown & Root gets the contract” (Dugger, 1982: 286).     

The Diffusion of Responsibility: An Alternative Perspective for National Policy Politics in the US

This article proposes a diffusion of responsibility perspective in analyzing post–World War II politics in the United States. Many analysts test the American system by a responsible party perspective, proposing reforms that will orient the system toward the goals of that model. Divided government has characterized much of the period since 1945 and identifiable (and wholly constitutional) politics has accompanied that development. The diffusion of responsibility alternative is characterized by a separated presidency, an expansive Congress, competition between the branches for shared power, and, absent a crisis, a tendency toward perpetuation.     

Recent developments in medicine and law

This article addresses important developments in the field of medicine and law during the period of September 2000 through August 2001. It does not discuss every reported case or piece of legislation but surveys some of the more significant developments in the medicine and law arena.