Knowledge that Transforms

Editor's Note Our policy is to annotate all English-language books on economics and related subjects that are sent to us. A very small number of foreign-language books are called to our attention and annotated by our consulting editors or others. Our staff does not monitor and order books published; therefore, if an annotation of a book does not appear six months after the publication date, please write to us or the publisher concerning the book.

The list below specifies doctoral degrees conferred by U.S. and Canadian universities during academic year July 2018 to June 2019. Lists of degree recipients and subject classifications are provided by the university. Note: Dissertations without classifications may be found under “Y Miscellaneous Categories.”

Histiocytic disorders are uncommon and often affect multiple organ systems. They pose diagnostic challenges because of their rarity and the fact that the nosology of these lesions is still being decided. ALK-positive histiocytosis is one of the newest subtypes and was originally described about 10 years ago, wherein there was a predilection for neonates and infants with multi-organ involvement [1]. Since then, ten additional cases have been reported, with only one having exclusive intracranial disease, along with involvement of the cavernous sinus [2, 3]. Here, we report two additional cases with exclusive involvement of the central nervous system. Case 1 is a 7-year-old girl who presented with a 1-month history of headaches and vomiting. Magnetic resonance imaging (MRI) showed an infiltrating 3 cm mass in the cerebellar vermis. The mass was associated with diffusion restriction and was radiologically suspicious for medulloblastoma (Fig. 1a). She underwent gross total resection followed by observation with MRI every 3 months. Postoperative whole-body PET–CT scan showed no evidence of systemic disease. At 1-year postoperative follow-up, there is no evidence of recurrence on neuroimaging. Her only neurologic deficit is a minimal slurring of speech and difficulty with phonation. Case 2 is a 10-year-old girl who presented with medically refractory seizures and was found to have a homogenously enhancing 1.4 cm mass in the right pericentral cortical region on head MRI (Fig. 1g). She underwent focal corticectomy followed by observation. Postoperatively, she has been doing well and has only had one reported seizure. She has not had a recurrent seizure while on antiepileptic therapy. At 6-month postoperative follow-up, there is no evidence of recurrence on neuroimaging. She has no remarkable findings on physical and neurological exam. Consistent with prior reported cases, microscopic examination in both cases showed sheet-like aggregates of large epithelioid cells with irregularly folded nuclei and fine chromatin, foamy cells, Touton-like giant cells, and focal emperipolesis (Fig. 1b–e, h). Immunohistochemical workup in both cases showed ALK expression (Fig. 1f, i), Factor XIIIa, CD68 (Fig. 1j), and CD163 (Fig. 1k) positivity, patchy staining for S-100 protein, and lack of CD1a, BRAF V600E, or GFAP reactivity, although the latter highlighted adjacent and entrapped brain parenchyma with reactive astrocytosis (Fig. 1l). The histopathology observed in these cases of ALK-positive histiocytosis show overlapping features with those of Erdheim–Chester disease (ECD), juvenile xanthogranuloma (JXG), Rosai–Dorfman disease (RDD), and Langerhans cell histiocytosis (LCH). In particular, foamy cells, Touton-like giant cells, variable S-100 staining, and the presence of Factor XIIIa expression suggests the possibility of JXG or ECD [4]. Emperipolesis can be seen in RDD and folded or grooved nuclei are present in LCH. A CD1a immunostain can be used to further rule out LCH. Rarely, ALK-positive histiocytosis can also be confused with astrocytic lesions, particularly at intraoperative consultation Electronic supplementary material The online version of this article (https ://doi.org/10.1007/s0040 1-019-02027 -7) contains supplementary material, which is available to authorized users.

This essay reviews Till Time’s Last Sand: A History of the Bank of England, 1694–2013, David Kynaston’s history of the Bank of England (the Bank) from its foundation in 1694 to the present day. I focus on three themes running through his narrative. First, for much of that time, the Bank was a private company playing a public role; how did it manage to do this and why was it eventually brought into public ownership? Second, I examine the various attempts to constrain the Bank’s monetary policy to follow a simple rule; these almost invariably proved unsustainable unless the rule provided enough room for discretion. Finally, I cover the Bank’s journey to becoming the lender of last resort, together with its evolving attitude to the associated risk of moral hazard. ( JEL E52, E58, N13, N14, N23, N24)

This essay reviews three recent books on the causes and consequences of student debt. In addition to increases in college tuition and fees, supply and resource constraints both contribute to the growing phenomenon of default: degree completion rates are relatively low, especially at two-year colleges. Default rates actually decrease with the amount of debt incurred, as students who incur more debt are more likely to complete degrees that bolster their earning power. These books suggest some promising policy options, but there are no quick fixes given that the net cost of attending both private and public colleges continues to rise. (JEL D14, I22, I23, I28)

There is growing interest in the history of economic statistics, and Eli Cook has provided in The Pricing of Progress: Economic Indicators and the Capitalization of American Life a fascinating account of the era of economic measurement prior to the creation of the modern System of National Accounts. The story illustrates the dual character of statistics, which is the product of political contestation and social structures, as well as the data by which we can interpret the economy. Appreciating this duality through the history of economic measurement helps explain why political polarization today often seems to play out as competing interpretations of the “facts.” In this context, the idea that GDP growth is a good measure of economic progress is increasingly being challenged, as both the “beyond GDP” agenda and digital disruption point to a growing wedge between what GDP is measuring and economic welfare. Economists should be engaging with the history of the statistics we use every day in order to be able to shape their future. (JEL C38, E01, E23, N10)

Mark Granovetter has written a deep and wide-ranging book on economy and society entitled Society and Economy: Frameworks and Principles. Economists, in particular, will find his discussion on the role of social networks in understanding the problem of aggregation—from micro foundations to large-scale institutional phenomena—especially relevant. And they will find much to ponder over the ways in which overlapping structures—of networks and institutions—shape human behavior and determine aggregate economic outcomes. The high-level and parsimonious style of this book is distinctive and sets it apart from much of contemporary social science. This style and the apparent unwillingness to engage closely with research developments over the past two decades may, however, mean that the book will have limited influence on ongoing and future research. (JEL D02, D90, Z13)

This paper reviews the book Why Muslim Integration Fails in Christian-Heritage Societies by Claire Adida, David Laitin and Marie-Anne Valfort (hereafter, ALV), providing an analytical perspective on the issues related to minority discrimination and integration in a host society. Building upon the sociological and recent economic approaches to cultural integration, we highlight the different mechanisms behind the existence of a discriminatory equilibrium between a majority group and a minority group in a given social context. The paper then discusses the specific case of the Muslim minority groups in the French context and outlines the strengths and limitations of the research approach expanded by ALV. We finally consider the policy proposals provided by ALV, assessing their viability, as well as the dynamic political economy constraints they might face in a Christian-heritage society. (JEL J15, Z12, Z13)

The methodology of economics has been applied with increasing frequency to non-market behavior and interactions. Peter Leeson’s book WTF?!: An Economic Tour of the Weird illustrates both the promise and the perils of this practice. When applied judiciously to environments in which the strategic obfuscation of true motives is widespread, the economic approach can yield valuable insights. But when applied without proper attention to prevailing norms and values, the attempt to rationalize behavior can fall flat and invite ridicule. Economists seeking to understand cultural practices would do well to import insights from other disciplines, and temper their eagerness to export narrow conceptions of rationality. (JEL A12, B41, D01, D10, D23, Z13)