Civic Spirits?

The SPIRITS Architecture

This document describes the architecture for supporting SPIRITS services, which are those originating in the PSTN (Public Switched Telephone Network)and necessitating the interactions between the PSTN and the Internet. (Internet Call Waiting, Internet Caller-ID Delivery, and Internet Call Forwarding are examples of SPIRIT services.) Specifically, it defines the components constituting the archi...

Suspicious Spirits, Flexible Minds:

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The Seven Spirits of God

N one of the historic creeds and confessions and none of today’s theologies stress adequately five critical points concerning the Spirit of God: the Spirit who was “not yet” before the Lord Jesus was glorified (John 7:39); the last Adam (the incarnate Christ) becoming a life-giving Spirit (1 Cor. 15:45b); the compound Spirit typified by the anointing ointment (Exo. 30:23-25); the Spirit of life...

CIVIC Entrepreneurship

Animal Spirits, Financial Crises and Persistent Unemployment

This paper develops a rational expectations model with multiple equilibrium unemployment rates where the price of capital may be unbounded above. I argue that this property is an important feature of any rational-agent explanation of a financial crisis, since for the expansion phase of the crisis to be rational, investors must credibly believe that asset prices could keep increasing forever wit...