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By B. T. S. Atkins, A. Zampolli

The recent technology of computational lexicology and lexicography has arisen via touch and collaboration among representatives of 3 formerly detailed disciplines: lexicography, linguistics, and machine technology. during this quantity special students offer a extensive standpoint at the box. of their evaluate paper Sue Atkins, Beth Levin, and Antonio Zampolli hint the advance of computational lexicography and its hyperlinks to theoretical linguistics. The sections which stick to talk about the gathering and pre-processing of textual information, the theoretical infrastructure of lexical research, and present instruments and methodologies.

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Accordingly, what was called Keynesianism in professional economic writings and popular economic textbooks of the day was, as I explain in chapter 9, nothing more than a modernized version of the pre-Keynesian, nineteenth-century free market classical argument. This perverse “Keynesian” analysis, just like nineteenth- and early twentieth-century classical theory, put the blame for unemployment on rigid high wages and monopoly pricing. The only difference between the arguments is that the former had been larded over with some Keynesian terminology and policy prescriptions.

To salvage their efficient market conclusions, these economists instead assume that today’s market participants possess “rational expectations” regarding all future possible outcomes of any decision made today. This theory of rational expectations (developed by Nobel Prize winner Robert Lucas) asserts that somehow today’s decision makers possess statistically reliable information regarding the probabilities that govern all conceivable future outcomes. From a technical point of view, statisticians require an analyst to draw a random sample from a population in order to calculate reliable probability information about that population’s characteristics.

Since efficient market theory, by assumption, eliminates the possibility of people defaulting on their contractual obligations, it should be obvious that this classical theory cannot logically explain the relationship between the subprime mortgage problem and the global financial crisis that began in 2007. Nor can the efficient market theory provide any guidelines to resolve the global financial crisis except to recommend leaving the problem to the free market to resolve and in the long run allowing the economy to right itself.

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