Copyrighting Culture or The Equity Risk Premium

Copyrighting Culture: The Political Economy of Intellectual Property

Author: Ronald V Bettig

Launching into a complete analysis of copyright law in our capitalistic and hegemonistic political system, Ronald Bettig uncovers the power of the wealthy few to expand their fortunes through the ownership and manipulation of intellectual property. Beginning with a critical interpretation of copyright history in the United States, Bettig goes on to explore such crucial issues as the videocassette recorder and the control of copyrights, the invention of cable television and the first challenge to the filmed entertainment copyright system, the politics and economics of intellectual property as seen from both the neoclassical economists’ and the radical political economists’ points of view, and methods of resisting existing laws.Beautifully written and well argued, this book provides a long, clear look at how capitalism and capitalists seize and control culture through the ownership of copyrights, thus perpetuating their own ideologies and economic superiority.

Books about: Sensemaking nelle organizzazioni

The Equity Risk Premium: Essays and Explorations

Author: William N Goetzmann

What is the return to investing in the stock market? Can we predict future stock market returns? How have equities performed over the last two centuries? The authors in this volume are among the leading researchers in the study of these questions. This book draws upon their research on the stock market over the past two dozen years. It contains their major research articles on the equity risk premium and new contributions on measuring, forecasting, and timing stock market returns, together with new interpretive essays that explore critical issues and new research on the topic of stock market investing.
This book is aimed at all readers interested in understanding the empirical basis for the equity risk premium. Through the analysis and interpretation of two scholars whose research contributions have been key factors in the modern debate over stock market perfomance, this volume engages the reader in many of the key issues of importance to investors. How large is the premium? Is history a reliable guide to predict future equity returns? Does the equity and cash flows of the market? Are global equity markets different from those in the United States? Do emerging markets offer higher or lower equity risk premia? The authors use the historical performance of the world's stock markets to address these issues.

Table of Contents:

	Introduction : opening remarks and motivation	3
1	History and the equity risk premium	25
2	Stocks, bonds, bills, and inflation : year-by-year historical returns (1926-1974)	41
3	A new historical database for the NYSE 1815 to 1925 : performance and predictability	73
4	The United States market wealth portfolio	107
5	World wealth : U.S. and foreign market values and returns	138
6	How to forecast long-run asset returns	175
7	The demand for capital market returns : a new equilibrium theory	184
8	The supply of capital market returns	201
9	Building the future from the past	212
10	Long-run stock returns : participating in the real economy	214
11	Stocks, bonds, bills, and inflation : simulations of the future (1976-2000)	237
12	Predictions of the past and forecasts for the future : 1976-2025	266
13	Short-horizon inputs and long-horizon portfolio choice	270
14	Survival	283
15	Survivorship bias in performance studies	307
16	Global stock markets in the 20th century	335
17	Re-emerging markets	365
18	The Dow theory : William Peter Hamilton's track record reconsidered	407
19	Patterns in three centuries of stock market prices	431
20	Bootstrapping tests of long-term stock market efficiency	454
21	Testing the predictive power of dividend yields	473
22	A longer look at dividend yields	494
23	Does asset allocation policy explain 40, 90, or 100 percent of performance?	521