Good and Evil in Indian Buddhism: The five Sins of Immediate Retribution

Indian Buddhist sources speak of five sins of immediate retribution: murder of mother, father, an arhat, drawing the blood of a buddha, and creating a schism in the monastic community. This category provides the paradigm for sinfulness in Buddhism. Yet even these sins can and will, be expiated in the long run, demonstrating the overwhelmingly positive nature of Buddhist ethics     

Ethics at Phase 0: Clarifying the Issues

The Food and Drug Administration (FDA) and the European Agency for the Evaluation of Medicinal Products (EMEA) recently issued documents encouraging sponsors to consider microdose testing before launching Phase I trials, and many commentators predict that such methodologies will be applied more routinely in drug development. However, exploratory testing has provoked several ethical criticisms. Skeptics question the value and validity of microdose trials, and whether they present a reasonable balance of risks and benefits for subjects. Another major criticism is that such studies serve mainly commercial ends. The present article explores these and other ethical concerns for studies conducted in the oncology setting. It concludes that microdosing is not inconsistent with prevailing practices in Phase I research, and that in principle, such studies could strengthen the ethical basis for Phase I trials by providing them better evidentiary justification.     

The Alaska Permanent Fund: Politics and Trust

Trust funds are a particular way of governing resource flows. Governments use trust funds to bind policy decisions of future actors and remove resource flows from budget competition. The state of Alaska removed a portion of its oil revenues from political competition through the creation of the Alaska Permanent Fund. A unique feature of the Fund is that it pays annual dividends to Alaskan citizens, thus creating a citizen stake in the management of the Fund. Through this framework Alaskans have successfully protected a significant stream of revenue ($21 billion) from political demands.     

The communicative impact of terrorist attacks on the financial marketplace: a perspective from the efficient market hypothesis

This study measures patterns following a terrorist attack, from the perspective of market efficiency, to determine the communicative impact of terrorist attacks on the financial marketplace. The Efficient Market Hypothesis postulates that asset prices fully reflect all available information. An important implication is that, because market price changes are determined by new information (or variations in discount rates), it would be highly difficult to “beat the market” with expert stock selection or market timing. Overall, we found that, based on mixed results, terrorist attacks do not lead to a distinguishable pattern in the financial marketplace. Nevertheless, drawing on the Yale Model of Persuasion, these results suggest that terrorists are effective in their communicative goals, and they do lead to a compelling pattern in the proportion of negative returns on the day of the attack. More precisely, terrorists are able to communicate their message on a global scale, thereby resulting in investors adjusting their estimates of value downward. While a possible price correction pattern was found, the lack of statistical analysis performed on the variables, to a certain degree of significance, is a limitation of this study that ultimately renders the results of the study inconclusive.

     

Why rehabilitate Stalin?

J. Arch Getty, Origins of the Great Purges: The Soviet Communist Party Reconsidered 1933–1938 (Cambridge: Cambridge University Press, 1985). Pp.275; £25.

Robert Conquest, Inside Stalin's Secret Police: NVKD Politics 1936–39 (London: Macmillan, 1985). Pp.222; £29.50.