This paper develops a political economic explanation of the 2007–9 US subprime crisis which focuses on one of its central causes: the transformation of racial exclusion in US mortgage-markets. Until the early 1990s, racial minorities were systematically excluded from mortgage-finance due to bank-redlining and discrimination. But, then, racial exclusion in credit-markets was transformed: racial minorities were increasingly given access to housing-credit under terms far more adverse than were offered to non-minority borrowers. This paper shows that the emergence of the subprime (...) loan is linked, in turn, to the strategic transformation of banking in the 1980s, and to the unique global circumstances of the US macro-economy. Thus, subprime lending emerged from a combination of the long US history of racial exclusion in credit-markets, the crisis of US banking, and the position of the US within the global economy. From the viewpoint of the capitalist accumulation-process, these loans increased the depth of the financial expropriation of the working class by financial capital. The crisis in subprime lending then emerged when subprime loans with exploitative terms became more widespread and were made increasingly on an under-collateralised basis – that is, when housing-loans became not just extortionary but speculative. (shrink)

We study and compare two combinatorial lowness notions: strong jump-traceability and well-approximability of the jump, by strengthening the notion of jump-traceability and super-lowness for sets of natural numbers. A computable non-decreasing unbounded function h is called an order function. Informally, a set A is strongly jump-traceable if for each order function h, for each input e one may effectively enumerate a set Te of possible values for the jump JA, and the number of values enumerated is at most h. A′ (...) is well-approximable if can be effectively approximated with less than h changes at input x, for each order function h. We prove that there is a strongly jump-traceable set which is not computable, and that if A′ is well-approximable then A is strongly jump-traceable. For r.e. sets, the converse holds as well. We characterize jump-traceability and strong jump-traceability in terms of Kolmogorov complexity. We also investigate other properties of these lowness properties. (shrink)

Let ω be the set of natural numbers. For functions f, g: ω → ω, we say f is dominated by g if f < g for all but finitely many n ∈ ω. We consider the standard “fair coin” probability measure on the space 2ω of in-finite sequences of 0's and 1's. A Turing oracle B is said to be almost everywhere dominating if, for measure 1 many X ∈ 2ω, each function which is Turing computable from X is (...) dominated by some function which is Turing computable from B. Dobrinen and Simpson have shown that the almost everywhere domination property and some of its variant properties are closely related to the reverse mathematics of measure theory. In this paper we exposit some recent results of Kjos-Hanssen, Kjos-Hanssen/Miller/Solomon, and others concerning LR-reducibility and almost everywhere domination. We also prove the following new result: If B is almost everywhere dominating, then B is superhigh, i. e., 0″ is truth-table computable from B ′, the Turing jump of B. (shrink)

We discuss the difference between optimality and universality. The sequence of measures of a universal test is well studied. To analyze the sequence of measures of an optimal Martin-Löf test, we introduce uniform Solovay reducibility. Solovay reducibility is a measure of relative randomness between two reals. In contrast uniform Solovay reducibility is a measure of relative randomness between two sequences of reals. Finally we prove that a sequence is uniform Solovay complete iff it is the sequence of measures of an (...) optimal Martin-Löf test. (shrink)

We show that there exists a real α such that, for all reals β, if α is linear reducible to β then β≤Tα. In fact, every random real satisfies this quasi-maximality property. As a corollary we may conclude that there exists no ℓ-complete Δ2 real. Upon realizing that quasi-maximality does not characterize the random reals–there exist reals which are not random but which are of quasi-maximal ℓ-degree–it is then natural to ask whether maximality could provide such a characterization. Such hopes, (...) however, are in vain since no real is of maximal ℓ-degree. (shrink)

We study connections between classical asymptotic density, computability and computable enumerability. In an earlier paper, the second two authors proved that there is a computably enumerable set A of density 1 with no computable subset of density 1. In the current paper, we extend this result in three different ways: The degrees of such sets A are precisely the nonlow c.e. degrees. There is a c.e. set A of density 1 with no computable subset of nonzero density. There is a (...) c.e. set A of density 1 such that every subset of A of density 1 is of high degree. We also study the extent to which c.e. sets A can be approximated by their computable subsets B in the sense that A\B has small density. There is a very close connection between the computational complexity of a set and the arithmetical complexity of its density and we characterize the lower densities, upper densities and densities of both computable and computably enumerable sets. We also study the notion of "computable at density r" where r is a real in the unit interval. Finally, we study connections between density and classical smallness notions such as immunity, hyperimmunity, and cohesiveness. (shrink)

The goal of this paper is to announce there is a single orbit of the c.e. sets with inclusion, ε, such that the question of membership in this orbit is ${\Sigma _1^1 }$ -complete. This result and proof have a number of nice corollaries: the Scott rank of ε is $\omega _1^{{\rm{CK}}}$ + 1; not all orbits are elementarily definable; there is no arithmetic description of all orbits of ε; for all finite α ≥ 9, there is a properly $\Delta (...) _\alpha ^0 $ orbit (from the proof). (shrink)

We examine the randomness and triviality of reals using notions arising from martingales and prefix-free machines.

Let f be a computable function from finite sequences of 0ʼs and 1ʼs to real numbers. We prove that strong f-randomness implies strong f-randomness relative to a PA-degree. We also prove: if X is strongly f-random and Turing reducible to Y where Y is Martin-Löf random relative to Z, then X is strongly f-random relative to Z. In addition, we prove analogous propagation results for other notions of partial randomness, including non-K-triviality and autocomplexity. We prove that f-randomness relative to a (...) PA-degree implies strong f-randomness, hence f-randomness does not imply f-randomness relative to a PA-degree. (shrink)

The aim of this text is to develop an epistemological-technique approach which permit analyze the work of Juan Downey, and his use of technical medias and also include the struggle against the State in the political and cultural model of the primitive societies of the Yano- mani, particularly by the work of Pierre Clastres and Jacques Lizot, and also their point of view of the methods of production in the societies of abundance, as theorized the anthropologist Marshall Sahlins, considering these (...) anthropological paradigms as a medium to understand the mediatic interaction and the technique development in the works of Juan Downey. (shrink)

In this paper we show that there is no minimal bound for jump traceability. In particular, there is no single order function such that strong jump traceability is equivalent to jump traceability for that order. The uniformity of the proof method allows us to adapt the technique to showing that the index set of the c.e. strongly jump traceables is image-complete.

We investigate the initial segment complexity of random reals. Let K denote prefix-free Kolmogorov complexity. A natural measure of the relative randomness of two reals α and β is to compare complexity K and K. It is well-known that a real α is 1-random iff there is a constant c such that for all n, Kn−c. We ask the question, what else can be said about the initial segment complexity of random reals. Thus, we study the fine behaviour of K (...) for random α. Following work of Downey, Hirschfeldt and LaForte, we say that αK β iff there is a constant such that for all n, . We call the equivalence classes under this measure of relative randomness K-degrees. We give proofs that there is a random real α so that lim supn K−K=∞ where Ω is Chaitin's random real. One is based upon work of Solovay, and the other exploits a new idea. Further, based on this new idea, we prove there are uncountably many K-degrees of random reals by proving that μ=0. As a corollary to the proof we can prove there is no largest K-degree. Finally we prove that if n ≠ m then the initial segment complexities of the natural n- and m-random sets and Ω︀) are different. The techniques introduced in this paper have already found a number of other applications. (shrink)

In this paper we show that there is a pair of superhigh r.e. degree that forms a minimal pair. An analysis of the proof shows that a critical ingredient is the growth rates of certain order functions. This leads us to investigate certain high r.e. degrees, which resemble ∅′ very closely in terms of ∅′-jump traceability. In particular, we will construct an ultrahigh degree which is cappable.

As a natural example of a 1-random real, Chaitin proposed the halting probability Ω of a universal prefix-free machine. We can relativize this example by considering a universal prefix-free oracle machine U. Let [Formula: see text] be the halting probability of UA; this gives a natural uniform way of producing an A-random real for every A ∈ 2ω. It is this operator which is our primary object of study. We can draw an analogy between the jump operator from computability theory (...) and this Omega operator. But unlike the jump, which is invariant under the choice of an effective enumeration of the partial computable functions, [Formula: see text] can be vastly different for different choices of U. Even for a fixed U, there are oracles A =* B such that [Formula: see text] and [Formula: see text] are 1-random relative to each other. We prove this and many other interesting properties of Omega operators. We investigate these operators from the perspective of analysis, computability theory, and of course, algorithmic randomness. (shrink)

Given two infinite binary sequences A,B we say that B can compress at least as well as A if the prefix-free Kolmogorov complexity relative to B of any binary string is at most as much as the prefix-free Kolmogorov complexity relative to A, modulo a constant. This relation, introduced in Nies [14] and denoted by A≤LKB, is a measure of relative compressing power of oracles, in the same way that Turing reducibility is a measure of relative information. The equivalence classes (...) induced by ≤LK are called LK degrees and there is a least degree containing the oracles which can only compress as much as a computable oracle, also called the ‘low for K’ sets. A well-known result from Nies [14] states that these coincide with the K-trivial sets, which are the ones whose initial segments have minimal prefix-free Kolmogorov complexity. We show that with respect to ≤LK, given any non-trivial sets X,Y there is a computably enumerable set A which is not K-trivial and it is below X,Y. This shows that the local structures of and Turing degrees are not elementarily equivalent to the corresponding local structures in the LK degrees. It also shows that there is no pair of sets computable from the halting problem which forms a minimal pair in the LK degrees; this is sharp in terms of the jump, as it is known that there are sets computable from which form a minimal pair in the LK degrees. We also show that the structure of LK degrees below the LK degree of the halting problem is not elementarily equivalent to the or structures of LK degrees. The proofs introduce a new technique of permitting below a set that is not K-trivial, which is likely to have wider applications. (shrink)