Fabián Héctor González Bachelor of Philosophy Ethics Argentina |
Farhad. F. Aliyev Master of Science Industrial Enginee ring Azerbaijan |
Luis Cho Bachelor of Science Environmental Science Belize |
Ludmila Irene Varas Yupátova Doctor of Public Health Public Health Chile |
Jose Fernando Bedoya Pérez Master of Health Science Anatomy and Biomechanics Colomb ia |
Ceira Morales Quiceno Doctor of Business Adm inistration Business and Administration Colomb ia |
Maria Antigua Castillo Cordero Doctor of Education Geograph y Dominican Republic |
Ramón Alberto López Ynoa Doctor of Education Compe tency-base d Curriculum Des ign Dominican Republic |
Vicente Rodríguez Almánzar Doctor of Philosophy Hisp anic Literature Dominican Republic |
Luis Fernando Mutre Zapata Bachelor of Science Agronomy Enginee ring Ecuador |
José Augusto Rosero Doctor of Philosophy Political Science Ecuador |
Alexandra Zhinin Ruales Bachelor of Science Electronic Enginee ring Ecuador |
Dennis Orlando Narvaez Luna Bachelor of Science Mechanical Enginee ring Ecuador |
Lydia Yeboah Tachie Bachelor of Social and Human Studies Human Res ource Manage ment Ghana |
Worwornyo Timothy Yayra Bachelor of Science Information Technology Ghana |
Solomon Nii Aryee Armah Bachelor of Science Information Systems Ghana |
Henry Geovany Chinchilla Corleto Bachelor of Science Systems Enginee ring Guatemala |
Feliciano Burcardo Juárez Monzón Master of Business Adm inistration Financial Manage ment Guatemala |
Myriam Lisset Quiroa Vela de González Post-Doctorate of Economics Economics Guatemala |
Ramon Isaac Mendoza Valladares Bachelor of Business Adm inistration Business Administration Honduras |
Enrrique Heriberto Santos Santos Bachelor of Science Electrical Enginee ring Honduras |
Zahra Gheidar Doctor of Philosophy Psychometrics Iran |
Jean Anne Marie Chen-Wellington Doctor of Education Education Jamaica |
Ngong Njia The Raphael Doctor of Philosophy The ology Kenya |
Joy Alexandre Harb Kadiri Doctor of Architecture Smart Cities Lebanon |
Edgar Zantac Malombe Master of Science Civil Enginee ring Malawi |
Abishu Morke Barisso Doctor of Philosophy Psychology Mexico |
Ana Samanta Carimo Pragana Bachelor of Business Adm inistration Business Manage ment Mozambique |
Edouard Jacotin Doctor of Science Renewable Energy Nicaragua |
Matthew Ike Meziem Aniagolu Doctor of Philosophy Development Economics Nigeria |
Lucia Cristina Dutary Horna Doctor of Psychology Clinical Psychology Panama |
Steven Puwase Enore Bachelor of Business Adm inistration Business Administration Papua New Guinea |
Nickson Samblap Bachelor of Business and Economics Project Manage ment Papua New Guinea |
João Mabiala Lussuamo Doctor of Economics Economics Portugal |
Héctor I. Rivera Maldonado Master of Education Gifted Education Puerto Rico |
Imanishimwe Schadrack Bachelor of Science Civil Enginee ring Rwanda |
Mamie Mujama Christiana Karimu Bachelor of Management Customer Service Manage ment Sierra Leone |
Ayii Ayii Zefferino Doctor of Political Science Political Science South Sudan |
Alexandra G Iliuta Bachelor of Journalism Social Communication Spain |
Sanathanan Kunjukrishnan Doctor of Business Adm inistration Business Administration Sultanate of Oman |
Markus Hatz Master of Business Adm inistration Global Supp ly Chain Manage ment Switzerland |
Basila Antipas Bwakila Bachelor of International Relations International Relations Tanzania |
Kassabrankahr Herman Mgarula Doctor of Business Adm inistration Business Administration Tanzania |
Cathian Alphonse-Antoine Master of Science Human Res ource Manage ment Trinidad and Tobago |
Andrew Amegovu Post-Doctorate of Science Human Nutrition Uganda |
Olav Valentino Rodrigues Bachelor of Science Zoology United Arab Emirates |
Sholeh Toobaei Bachelor of Philosophy Philosoph y United Arab of Emirates |
Franklyn Rafael Telemin Master of Science Telecommunications USA |
Joy A. Osazuwa Doctor of Business Management Strateg ic Manage ment USA |
Ebenezer Siisi Crentsil Master of Business Management Business Manage ment USA |
Hanna George Elias Doctor of International Relations International Relations USA |
Mariandré Zapata-Luna Bachelor of Science Communications USA |
Rosa N. Hernández Martínez Doctor of Business Adm inistration Business Administration USA |
Michael R. O’Mara Certificate of Economics Economics of Healthcare USA |
Cleopatra Ngoma Bachelor of Science Economics Zambia |
Harrison Banda Doctor of Philosophy Business Manage ment Zambia |
Stephen Sikombe Bachelor of Business Adm inistration Business and Economics Zambia |
Daniel Mhlanga Master of Hosp itality and Tourism Mgm t. Hosp itality and Tourism Manage ment Zimbabwe |
||
It didn’t take long to get used
to my new home. I felt safe
again —most of the time.
The nightmares continued
to haunt me. But during the
day, I kept myself busy. Mama
James (I started calling her
Mama about a year after I
moved in) often asked me
if I wanted to talk about my
family and life at the camp.
I always shook my head and
said no. I didn’t want to think
about my mom and dad —and
Natalie. And I definitely didn’t
want to remember what it had
been like living in the camp.
A month or so after I arrived,
my studies began. A
private tutor came to the
house five days each week. If
I worked especially hard, Mrs.
Susan let me draw. Nat was
the brave one, but even she
admitted I drew better than
she did.
Mama James would have
friends over for tea. They were
always saying how beautiful
I was. At first it made me
uncomfortable, but then I
began to smile timidly and say
thank you. Some days, I found
myself in front of the mirror
trying to see what they were talking about. Was I really
pretty?
I was six or seven when
one of Mama James’ friends
suggested I enter a beauty
pageant. The next few months
flew by. I studied hard, drew
as much as I could, and prepared
for that first pageant. I
don’t remember much about
it except the feeling that I was
going to be sick when I looked
out at the audience and realized
they would all be watching
me. I wanted to run away,
but I didn’t want to disappoint
my new family. I looked down
at my beautiful dress, stood
up straight and walked out
on stage. It was actually kind
of fun. I didn’t win, but I did
come in third.
Over the years, I entered
more and more pageants.
I made lots of friends and
learned to enjoy being the
center of attention. Mama
James was very proud of me. I
remember the feeling the first
time I came in first place. I
felt like a real princess. I was
given lots of gifts and dozens
of people wanted to take my
picture and ask me questions.
I was 17 when I first made it to the national pageant. I
had to study living conditions
beyond the walls of the
compound, but it was only
so I would have the “right”
answers during the pageant.
I never let myself think about
it as real. After all, my reality
was a warm home, a caring
family, and more attention
than anyone that age should
get. There was a lot of pressure,
but by then I was used
to it. When I made the top
10, I thought I was dreaming.
And winning the crown made
me feel like I’d died and gone
to heaven. Could life get any
better?
When I first saw Rick, I was
convinced it could.
*******
I don’t know how I got used
to my new home, but I did.
Anyone who has never been
in that situation would be horrified
at the thought.
I always saw myself as brave
and adventurous, but now I
realize what a coward I was.
“You were just a child,” you
might argue. That isn’t much
of a reason to block out what
these men, the ones I came
to consider family, had done
to my parents and my sister.
I hate to admit it, but I began
to call Chuma, their leader,
Father. You might think I’d see
Chibote that way, but I knew
he was some other little
girl’s father. Besides, one
day he left with the others
and didn’t come back. I tried
to ask about it, but no one
would say anything.
As I grew, I got better
and better with a gun. I
even learned how to handle
grenades and wire a bomb.
When I was about 13, Chuma
asked Sunga, his right hand
man, to teach me hand-tohand
fighting techniques.
I was determined not to
disappoint anyone. I was especially
determined to show
myself that I could survive,
that I could become as good
a soldier as any of the men
in the camp. I became an
excellent marksman and an
above average fighter.
My determination intensified
further when our
hand-to-hand sessions
took a turn for the worse.
Growing up around soldiers
didn’t prepare me for the
way they began to look at
me. There were times when
I was learning to fight that I
became very uncomfortable.
And I don’t mean the aches
and pains of being repeatedly
tossed to the ground.
One night, Sunga came to
my tent. That was the first of
many nights. I was embarrassed
and ashamed. Those
feelings —and the threats—
kept me from saying
anything. I don’t know what
he said to the others, but at
least no one else paid me late
night visits. Thankful for that,
at least, I decided I’d deal with
Sunga in my own way —when
I was ready.
As well as being taught combat
skills, I was given a stack
of books to study. (Chibote had
taught me to read.) There came
a time they trusted me enough
to send me away to school.
I kept to myself. My classmates
learned very quickly
not to aggravate me. One of
the male students slipped his
arm around my waist that first
week. He ended up on the
ground at my feet. After calling
me a few choice names,
he got up, brushed himself off,
and slunk away.
With no friends and very
little interest in anything except
my studies, I did well. My
professors called me “focused”
and “dedicated”. I let them
think that, even though I knew
better. I earned my degree in
engineering and graduated at
the top of my class.
As often happens, the
so-called rebels —otherwise
known as my family— took
power. They earned a certain
amount of respect. Stories of
how the former government
had abused their families and
driven them from their homes
gained sympathy. While some
of the stories may have been
true, I knew what outsiders
could not. You see, I had
begun to remember what they
had done to my real home and
to my real family. It all began
the first night Sunga came to
my tent. The longer I was at
school, the clearer the memories
became.
You might wonder why I
didn’t go to the authorities.
You have to understand; they
had become the authorities.
There was no one to turn to.
I had gotten used to taking
care of myself, and I intended
to make them all pay —in my
own way.
No longer was Chuma hidden
away in a mystical tent
I would never dare enter. He
was more than eager to show
off his new office. He enjoyed
the respect and attention he
felt he’d earned. He was also
proud to introduce me as his
daughter, the engineering
graduate.
One day he left me alone in
his office. I sat behind his desk
and began leafing through the
papers in the top drawer. I
couldn’t believe what I found.
Even now, it makes my blood
run cold. He had kept my
mother’s necklace, the one he
tore from her neck the night
he destroyed my life. Inside,
was a picture of me and my
sister. It took every ounce of
restraint not to scream. There
was a disc lying under the
necklace. As much as I wanted
to take the cameo, I resisted.
Curiosity again got the better
of me, and I slipped the disc
into my jacket pocket.
Just then, the door opened,
and Chuma came in. Behind
him was an American soldier.
“Natalie, this is Captain
Walker.”
“Call me Rick.”
*******
Rick and I never put ourselves
in compromising situations.
We refused to get into the
same car. We always met in
public places —usually with a
couple of our friends. I didn’t
want to do anything to jeopardize
my title. And Rick didn’t
need some scandal linking
him to a pageant queen. I was convinced we both wanted
more from our relationship. It
was a long and difficult year.
The week before I was to
relinquish my title, Rick asked
me if I was sure I didn’t want
to enter any more pageants.
I assured him I was ready to
pursue other interests, and
that night I told him there
were more important things
in life.
The day after I turned over
the crown, Rick and I went
on our first real date. He had
made reservations at the most
expensive restaurant in the
city. There were a dozen roses
on the table when we arrived.
I had gotten used to being
spoiled, but this was different.
The meal was wonderful, but
when dessert came, I was in
for the biggest surprise of my
life. I caught sight of something
sparkling in the whipped
cream. Right there in the
restaurant, Rick got down on
one knee and proposed.
I sat there with my mouth
open, looking from the ring to
Rick and back again.
“Well? Don’t keep me in
suspense.”
I could only nod.
The people at the nearby
tables clapped and cheered.
I don’t think I was ever that
embarrassed —or that happy.
Mama James was thrilled.
She liked and respected Rick.
She told me he was a real gentleman
and insisted on giving
us a big wedding. I told her a
small, private ceremony would
be fine, but she wouldn’t
hear of it. After our fairytale
wedding, Rick took a five-day
leave for our honeymoon.
For the first few months,
I walked around with a big
grin. I had no doubt I’d made
the right decision. No pageant
had ever made me that
happy. I was able to ignore
the reality going on all around
me. Memories of my first five
years cowered in the shadows—
like I had cowered under
my bed. I refused to listen to
the radio or watch television.
Rick would be gone for days,
sometimes weeks at a time,
but I kept myself busy.
Four months after we got
married, I found out I was
pregnant. I wasn’t sure I was
ready for motherhood, but
I was excited about having
Rick’s baby. After a particularly
difficult mission, he sat me
down and laid it on the line.
“Lisa, my love, as much as
I don’t want to, I have to send
you away.”
I was too shocked to reply,
but my look said everything I
couldn’t.
He held both my hands in
his. “It’s not that I want to, but,
I…I just can’t have you raising
our child here. Things are
so uncertain. I would never
forgive myself if something
happened to you or the baby.”
“Where will I go?” My voice
was just above a whisper, and
I didn’t even try to hold back
the tears.
Rick wiped them away and
said, “My family back in the
States has agreed to have you
come and stay with them.”
I was shocked. “I thought
you meant you wanted me to
stay with Mama. The States?
Are you serious?” I felt hurt
and rejected. How could he
send me away?
He pulled me to my feet and
wrapped his arms around me.
“I don’t want you to go, Lisa,
but there’s no other way. I’ll be
finished my tour of duty soon,
and we can start a life in the
U.S. —you, me and our baby.”
I nodded. “If you’re sure.”
“I am, Baby. I am.”
*******
Captain Walker was very tall
and very handsome. The men
in my life had proven untrustworthy
and unable to take
care of me.
From a young age, I vowed
to look after myself. But there
was something about this
American soldier, a kindness
in his eyes. I had heard about
silly women who did stupid
things when it came to men.
I never imagined I would
become one of them.
Rick came to Chuma’s office
often. Though I would never
have admitted it, I hoped it
was because he wanted to see
me. It became clear that was
one of the reasons. About a
month after our first meeting,
he asked me out to dinner. I
consented, but was very confused
when he said I should
wear casual clothes and be
ready by 2:00 in the afternoon.
After an hour-long drive, we
ended up in a remote area that
Rick said American soldiers
had used for weapons training.
“Your father tells me you
can handle yourself pretty
well.”
I cringed when he called
Chuma “my father”, but I
nodded in response to his
question.
Rick handed me his pistol
and pointed out a target that
was barely visible. He seemed
impressed when I hit it dead
center. We spent several hours
trying to outdo one another.
By 5:00, Rick was ready to
admit I might, just might, be
the better shot.
“Remind me to stay on
your good side,” he said as we
climbed into the Jeep.
When he announced we
were still going out to dinner,
I understood why he’d told me
to bring a change of clothes.
The evening went well. When
he took me back to my place,
I very much wanted to invite
him inside, but I didn’t —not
that night, at least.
We dated off and on for
about a year. However, there
were times when I wouldn’t
see Rick for weeks at a time. I
wouldn’t even hear from him.
He was a soldier, after all. He
had things to do, and so did I.
I’d made a copy of the disc
I found in Chuma’s desk and
returned the original the day
after I met Rick. I wasn’t ready
to go into hiding, which is
exactly what I would have
been forced to do if Chuma
discovered the disc missing.
The disc documented
atrocities the former government
had been involved in. It
even mentioned the murder
of Chibote’s wife and children.
(No wonder he had been involved in the plot to overthrow
them.) It also contained
evidence of links between
organized crime in the U.S. and
top ranking officials. I couldn’t
figure out why my family had
been murdered by Chuma’s
men. The evidence was far
more damning for the deposed
authorities.
My questions didn’t last
very long. By the time I’d
finished going through everything,
I learned both Sunga
and Chuma were also under
investigation. At that moment,
I very much wanted to avenge
the murder of my mother and
father and sister —a desire I
fought every day. However, I
knew it was best to allow the
U.N. to deal with it. I would
give them the disc when the
time was right, when I knew I
would be safe.
For about six or seven
months, I didn’t hear from
Rick at all. Then, one night,
he showed up on my doorstep
with a bottle of my favorite
wine. I just stood there for a
moment —confused.
“Well, are you going to invite
me in?” he asked.
“Sure, I just haven’t seen
you in a while.”
“I know. I’m sorry about
that. I’ve just been very
busy…” Rick cleared his
throat, and he looked like he
wanted to say more, but he
didn’t continue.
Over the next few months,
we saw a lot of each other.
We even talked about moving
in together, but that wouldn’t
work. His commanding officer
would never allow it —and
neither would my so-called father.
Plus, I wasn’t sure about
it myself. Rick was moodier
than he’d ever been. I’d ask
him why, but he’d just shrug
his shoulders and say nothing
was wrong.
We were both very upset
when he had to relocate, but we
made plans to meet at the Hilton
when Rick was in the city.
That certainly didn’t go as
planned.
*******
Of course, I wished Rick
was with me, but his family
was great. They’d prepared a
nursery for the baby. The walls
were painted pale yellow. The
wallpaper, bedding and curtains
all had pictures of baby
animals on them. My motherin-
law said she wanted her
grandchild’s world to be bright
and happy.
I thought I knew what it
meant to be spoiled, but I was
mistaken. I only had to make
a passing reference to a food
I found appealing, and it was
available at the next meal.
A fan for my room. An extra
blanket. Paper and colored
pencils for drawing. I didn’t
mean to be demanding, but
everything I asked for was
provided.
I went to prenatal classes
with Rick’s sister Sharon. Sharon
was expecting her third
child. She and I grew very
close. Although we were from
different worlds, we had much
in common. After all, we were
family.
I also made several friends
in class, including Marcy. We
would often meet for lunch.
She talked to me about growing
up on a farm then moving
to the city when she was
in her teens. She wanted to
know everything about my
childhood. She’d never been
more than 100 miles from
the town where she was born
and couldn’t imagine life in
another country.
When Marcy started pressing
for details, the nightmares
returned. I’d blocked them
out for so long. I had almost
convinced myself that the
memories were nothing but
a bad dream, but somewhere
deep inside I knew the horrifying
images that would
invade my sleep were more
than that. I never mentioned
the dreams to anyone. I would
act as though everything was
wonderful.
The months passed quickly,
and soon I was holding a
beautiful baby girl in my
arms. Then things really were
wonderful. Rick and I talked
the day she was born. He told
me how much he missed me
and how he couldn’t wait to
meet our little princess. He
said there were some things
he had to wrap up before he
could come back to the States.
We spoke every week, and
each time Rick insisted he’d be
home soon.
I decided I couldn’t wait
for him to come to me. When
Leisha was only two months
old, I booked a ticket back
to Africa. Although I would
miss her terribly, I didn’t
want to take the baby with
me. I knew her grandparents,
aunts and uncles would take
good care of her while I was
gone. And Mama James had
already planned a trip to meet
her newest grandchild. I only
planned to stay in Africa for a
week or two.
I was exhausted when I arrived
in the city and decided
to spend the night at a hotel
before locating Rick. Little did
I know, he was staying in the
same hotel —but he wasn’t
alone.
*******
I swore never to depend on a
man for anything —and then
Rick came along. He was attentive
and allowed me to be
myself. (Who else would take
me to a weapons range on
our first date?) He treated me
like a woman —and a warrior.
He seemed intrigued by my
engineering job —something
I knew bored most people,
except other engineers. Not
to mention the fact that Rick
was extremely attractive.
These were all contributing
factors that made me agree to
meet him at the hotel… even
though I wasn’t sure where
our relationship was headed.
Those doubts were confirmed
that night. Quiet music.
Champagne. Soft lighting. We
were sitting on the sofa. Rick
leaned over to kiss me, and she walked in. They obviously
gave her the wrong key.
“Excuse me?” Rick said as
he looked toward to door.
I’ll never forget her expression.
She looked devastated.
She burst into tears and ran
from the room. I began to ask
what it was all about, but Rick
was up and out of the room
before I could say anything. I
figured, being the gentleman
he was, he wanted to find
out what was wrong. When I
found out she was his wife, I
felt like the stupidest person
on the planet. Of course he
was going to let me down. He
was a man, after all.
The next time I saw either
of them was in the courtroom.
Rick was being sued for divorce.
When the judge entered
the room, he had the strangest
look on his face. Then he
asked to talk to Rick’s wife
and me in his chambers. I was
confused, and from the look
on her face, so was she.
“Natalie Martin?”
I nodded.
“Mrs. Walker, was your
maiden name Martin as well?”
I looked over at her, confused.
She was nodding her
head slightly.
“This is most definitely the
strangest case that has ever
come into my courtroom,” the
judge said.
“Nat?” Lisa squeaked.
“Lisa?”
We turned to the judge. “But
how did you know?” I asked.
“I knew your father, girls.
Lisa, you look very much like
your mother. And, Natalie,
you are unmistakably your
father’s daughter.”
Lisa burst into tears. Later
she told me that, in that moment,
all the memories she
had tried to bury came flooding
back.
Tears and Lisa —typical.
But not so typical was my
response. I felt the tears welling
up in my own eyes. All of
a sudden, the reason we were
there didn’t matter. Rick was
all but forgotten.
The judge asked Lisa, “Shall
we go ahead with today’s
proceedings?”
She shook her head. “Not
right now. I have to get caught
up with… with my sister.”
Lisa threw her arms around
me. At first I wanted to push
her away. Then all my protective
instincts kicked in, and I
hugged her back.
The look on Rick’s face
when we emerged from the
judge’s chambers still makes
me laugh. We didn’t bother to
explain. We just walked out of
the courtroom arm in arm.
*******
I was angry and hurt. I thought
my world was falling apart.
But then the judge called Nat
and I into his chambers. That
day turned out very differently
than I’d expected.
My sister and I are getting to
know one another again. I’m
going to church and slowly realizing
God can heal my hurts.
I decided to give Rick another
chance. Our little girl deserves
a father. It hasn’t been easy to
forgive him, but he is trying to
make our marriage work. Plus,
he fell in love with our little
girl the first time he saw her.
Nat came back to the States
with us. She hasn’t said much,
but I know she’s keeping an
eye on Rick. I guess, in one
way or another, she’ll always
be my protector.
*******
That was some day! Though
Rick had found an opening, I
was determined to reinforce
the wall I’d build around my
emotions. Then the judge reintroduced
me to my sister, and
I realized that wasn’t going to
happen.
Lisa convinced me to move
back to the States with them.
It was a difficult decision, but
it did give me the opportunity
I needed to drop off my
father’s disc at the U.N. My
plans for revenge had been
derailed, but in the end, it was
best to let the authorities deal
with Chuma, Sunga, and my
would-be family. In a
way, I guess it was my
sister who rescued me.
I’d always considered
myself the brave
one, but in time, Lisa
forgave Rick. She said
she had to try to make
it work for their little
girl. Apparently, Rick’s
family had been taking
her to church and
she’d discovered that God can
heal even the deepest hurts.
At first, I thought it was just
another sign of weakness. But
as I watched her, I realized
maybe she was brave after all.
I’ve been watching Rick,
too. He seems to be changing.
Something about seeing
his little girl for the first time
probably made him realize just
how much he had to lose.
I’m settling into my new
home. Lisa and I get together
every week. Sometimes, I even
go to church with her. I guess
my baby sister doesn’t need a
protector anymore. Maybe, I’ll
just work on being her friend.
The End
The famous economist
John Maynard Keynes
tried to put forth a theory of
effective demand. Keynes
even devoted chapter 3 of his
most well-known book to it.
However, nowadays you will
not see the term effective demand
in economic textbooks.
What happened to it?
Keynes laid down some
basic ideas about effective
demand but did not give specific
equations. It is clear that
Keynes distinguished effective
demand from aggregate
demand. Still modern economists
equate effective demand
with aggregate demand. This
is a mistake. Now we only see
the term aggregate demand in
textbooks.
Consequently, there is a
missing piece of economic
theory that is still yet to be
found. What then is effective
demand? Will we ever have a
workable model for it?
Developing a model of
effective demand was my
doctoral work at AIU back in
2013. I came up with a simple
equation:
The equation basically
says that the percentage of
national income going to
labor (labor share) will be
greater than the multiple of
the utilization rates of capital
capacity and labor.
The equation reflects
‘demand’ through a relative
amount of money given to
labor (labor share) as opposed
to money given to those who
own capital. Capital income
at a macro level depends on
selling to those who do not
have capital income. Certainly
many economists would say
there is no difference between
money spent in the economy
from capital and labor incomes.
However, capital production
is ultimately directed
towards a final consumption
by people who make up labor.
The equation also reflects an
‘effective’ limit upon production
by saying that the income
of final consumption sets a
limit how firms utilize their
capital and employment.
Capital income then measures
its production according
to the relative strength of labor income. Thus, if people
are paid less, they demand
less, and firms would have
to produce less for them. On
the other hand, if people are
paid more, they can demand
more, and firms would have to
increase production.
So, there is a relationship of
mutual dependence between
labor income and capacity
utilization. The equation I use
above says the dependence
has a limit. So, when the limit
of labor share falls, it will push
down capacity utilization.
Do we see this relationship
in the data? Here is data for
the United States since 1969 to
the 2nd quarter of 2017. (quarterly
data)
(See Chart)
Yes… the equation holds in
the data. The blue line sees
resistance at 0% shown by the
horizontal red line.
When I did my doctoral
work at AIU in 2013, the blue
line had not yet reached the
red line. Other economists
were skeptical that the line
would stop at a zero lower
bound. They did not think the
equation was valid. Then in
2014, the blue line bounced
off the effective demand limit
of labor share, as my equation
predicted. Since then it has
risen and is once again heading
down toward the limit.
I am now watching the blue
line to see if it hits resistance
again on the lower red horizontal
line. We should know
within a year. If we see resistance
again, the evidence for
my equation gets stronger.
There are many applications
for this model if it is proven. It
could help determine monetary
policy. It could determine
the true Potential real GDP.
It could explain limits upon
macro-productivity. It would
foresee trouble spots in the
stock markets. There are more
applications beyond these.
So far, the evidence is supporting
my model of effective
demand. This discovery would
be revolutionary in the field
of economics. It would be no
small matter to finally break
the code of Keynes’ effective
demand. A whole new area
of research would open up in
economics.
This unique and creative
model for effective demand is
a product of the educational
approach here at AIU. All
students are encouraged to
develop their visions.
We are here to support your
discoveries.
Today I would like to
dedicate a few words of
thanks. I want to thank the
pillar of support and companion
of my path through AIU,
my dear and esteemed adviser
Dr. Rosa Hilda Lora. I want
to also thank Alba Ochoa, Dr.
José Mercado and specially to
Dr. Ricardo González.
Since the beginning of
my journey at AIU I had the
immense fortune to relate to
wonderful people.
I can say that it was and
it continues being a joy and
blessing for me to know that
they are always there for me
when I need them to guide
me and support me, even
when we are so far and in virtual
mode. I know that behind
a computer, there are people
who are interested and happy
about the achievements of
others.
As an adult, going back to
school was an important decision
and a great challenge for
me. It was to put myself in a
challenge, besides the search
of new horizons and hopes.
In my long professional
career I had the opportunity to meet many people and one
of those people has recently
returned to my life.
Things were happening in
such a way that thanks to
my BA in Art History at AIU
—and the career that I am
continuing with the Master
in the same area— I have
opened the doors of a new
work opportunity: recently,
a renowned Miami Contemporary
Art Gallery (Valli Art Gallery) has
invited me to
be its Public
Relations Coordinator
for
Europe and
Israel.
For me it is
a great emotion
and joy,
since it means
my tangibly
entrance in
the art world
that I love so
much.
Because of
this collaboration
that
is just being
born, I will travel to Miami in December
2017 to take part in the events
of the International Exhibition
of Modern and Contemporary
Art called “Art Basel”.
This art gallery, has a
tremendous work introducing
contemporary art in the
United States from other
parts of the world.
Also generates
collaborations with
other institutions, public
and private museums and
international curators.
The gallery constantly creates
initiatives and traveling
exhibitions in different American
cities for the promotion
of the Italian art and culture
from the Second World War
thanks to the constant communication
with cultural
institutions, universities and
schools, it is also dedicated to
the artistic professional training
of the new generations.
I think all this achievements
came because I was
able to plan and design my
Curriculum during my Bachelor
and Master program. It
boost my career once I earned
my degree.
This work opportunity
reflects my direct relationship
with the social contribution
and the disclosure for the
common good, altruistic and
philanthropic objectives also
supported by AIU.
All my gratitude, respect
and deep appreciation to all, I
feel honored.