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Like other contractarians, E&F model the firm not as an entity, but as an aggregate of various inputs acting together to produce goods or services. Employees provide labor. Creditors provide debt capital. Shareholders initially provide equity capital and subsequently bear the risk of losses and monitor the performance of management. Management monitors the performance of employees and coordinates the activities of all the firm's inputs. The firm is simply a legal fiction representing the complex set of contractual relationships between these inputs. In other words, the firm is not a thing, but rather a nexus or web of explicit and implicit contracts establishing rights and obligations among the various inputs making up the firm.
The nexus of contracts model has important implications for a range of corporate law topics, the most obvious of which is the debate over the proper role of mandatory legal rules. As a positive matter, contractarians contend that corporate law in fact is generally comprised of default rules, from which the parties to the set of contracts making up the corporation are free to depart, rather than mandatory rules. As a normative matter, contractarians argue that this is just as it should be. E&F devote the bulk of this text to tweaking out these implications across an array of important topics, such as limited liability and insider trading.
Their analysis is not flawless. As but a single example, E&F consistently opt for the so-called majoritarian default. Their basic thesis is that by providing the rule to which the parties would agree if they could bargain, society facilitates private ordering. Majoritarian defaults are not always desirable, however, even if a potentially dominant one can be identified. Sometimes penalty defaults are preferable. Penalty defaults are designed to impose a penalty on at least one of the parties if they fail to bargain out of the default rule, thereby giving at least the party subject to the penalty an incentive to negotiate a contractual alternative to the penalty default. They force the parties to choose affirmatively the contract provision they prefer. Penalty defaults are appropriate where it is costly for courts to determine what the parties would have wanted. In such cases, it may be more efficient for the parties to negotiate a term ex ante than for courts to determine ex post what the parties would have wanted.
Having said that, however, this remains one of the most significant monographs on corporate law. I highly recommend it for an corporate lawyer's bookshelf.
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This is an excellent adventure book that takes a Conan like hero and plots him against all sorts of evil (and good), including some Cthulhu creations as well.
Originally Ghor was an unfinished story by Conan creator Robert Howard. Upon finding this unfinished story, a magazine decided to finish it. What they did was have a different chapter every month written by a different top fantasy writer. It made the reading interesting.
While most of the chapters were great. Some were excellent. Unfortunately there were a couple chapters that I just wanted to get through to reach the next writers' chapter. Overall a really good read.
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But I've found this book (along with some of the other Fabozzi 'Handbooks') to be overrated. Basically, the format of 30 or so different authors each writing a chapter in the form of an article diminishes the usefulness of the book. There is no narrative, pedagogical or otherwise. The format leads to significant gaps in coverage. The quality of the chapters is uneven, as is the level of detail covered.
Don't misunderstand me -- the Handbook isn't bad, by any strecth of the imagination. It's just not as good as it could be. It has almost no fluff, and all the information in it is good. And the competition is a very slim field. For many things Fabozzi is not only your best choice, it's your only one.
One caveat. Mortgage derivatives used to mean calls and puts on mortgage backed securities. Today, however, entire portfolios of mortgage risk are laid off in the form of credit derivatives.
Tavakoli has the best treatment of that topic in the book: "Credit Derivatives".
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Just one example of their sinister multicultural views. They talk about the six NATIONS that make up Hungary and complain about "Hungarian ambitions of hegemony," ignoring the history of how these minorities were allowed to settle in the country.
A great disappointment!
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The book's themes work best in the context of Houdini. The other examples provide context, but not nearly as much insight. I was particularly interested to learn that the story I had heard about Houdini's death was wrong. ....
In general, I found the book interesting, but found that it had some serious drawbacks in its structure and focus. For example, there is discussion about prostitution, pornography, and avoiding sexual relations that is loosely tied back to Houdini's skills in escape illusions. I found the connections tenuous, not well made, sometimes puzzling, and of little interest.
The discussions with patients are probably easy for a psychotherapist to follow, but I found them not very clear. I suspect that I would have enjoyed the book more without the patient sections.
At the same time, the mythological references are mainly of value to someone who doesn't know the stories. For those who do, those sections become long and somewhat tedious.
Basically, the book needed to be edited down further and to connect the dots more. At the same time, the section on Emily Dickinson could easily have been expanded.
If you know a lot of about psychological theories, this book will probably not add a lot for you. If you don't try very hard to avoid things, this book will probably not be very interesting. For those who strenuously avoid and would like to know more, this is a pretty low-key introduction into seeing the possible meaning behind patterns of avoidance through self-questioning.
What are the implications of your avoidance? Can you embrace what you care about in healthy ways? How well is your seeking out or avoiding behavior serving you and others?
Find ways to serve others, give love, and enjoy life!
This was a relatively simple concept- the escape process- from either real or imagined stimuli. Whether we are attempting to evade the unconscious or conscious stimuli, the process itself can become addictive. It isn't hard to include Houdini in this concept, and the parts that substantiate fact with theory remain persuasive whenever he is part of the examples. The other people, famous and not that were included were harder to incorporate. Emily Dickinson's late life retreat into solitude-while it was escape, was just limp in comparison. Too many mysteries about Dickinson's personality and psyche seem to require clarification before she can be attached into any metaphorical framework.
Still, it is an interesting little novelty of a book and has an element of cautionary charm. It is not controversial-but is it relevant? As many mental health professionals are exploring reverentially the biochemical, and evolutionary nature of consciousness, memory and mental illness- there is that notion of "Here we go again! Buying everything hook line and sinker." Hearing some of the voices of past-glorious psychoanalytical solemnity, was a bit of a kick!
The psychotherapist in me respects Adam Phillips' way of provoking thought without claiming any corner on "the truth." (If you like being introspective about the human psyche, this is a good one.) But mostly, the fan of magic enjoyed Phillips' take on Harry Houdini. There is little doubt that Houdini would be proud to be receiving so much attention 75 years after his death, but I think he would especially like becoming an archetype for the human condition.
If your taste runs toward mixing introspection with entertainment, and if you are curious to discover what you may have in common with "the great mystifyer," the two of me definitely recommend this book.
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The stories collected here still made for enjoyable reading. I liked them, and found them to be very well told. Some highlights include the villain Bullseye kidnapping the heroine Black Widow, with Daredevil coming to her rescue. Another highlight is a spectacular showdown between Daredevil and the Hulk. The last story is a retelling of Daredevil's origin, as Daredevil, while recovering in a hospital from his battle against the Hulk, tells Daily Bugle reporter Ben Urich (who by his own conclusions, discovers that Matt Murdock and Daredevil are the same person) why he became a crimefighter.
I would say that this book is worthy to add to anyone's library. If you want to collect Frank Miller's entire Daredevil run, then pick up the trade paperbacks Daredevil Visionaries: Frank Miller Volumes 1, 2 and 3 instead.
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