• Title/Summary/Keyword: Protection and Use

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Evaluation of Radiation Shielding Rate of Lead Aprons in Nuclear Medicine (핵의학과에서 사용하는 납 앞치마의 방사선 차폐율 평가)

  • Han, Sang-Hyun;Han, Beom-Heui;Lee, Sang-Ho;Hong, Dong-Heui;Kim, Gi-Jin
    • Journal of radiological science and technology
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    • v.40 no.1
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    • pp.41-47
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    • 2017
  • Considering that the X-ray apron used in the department of radiology is also used in the department of nuclear medicine, the study aimed to analyze the shielding rate of the apron according to types of radioisotopes, thus ${\gamma}$ ray energy, to investigate the protective effects. The radioisotopes used in the experiment were the top 5 nuclides in usage statistics $^{99m}Tc$, $^{18}F$, $^{131}I$, $^{123}I$, and $^{201}Tl$, and the aprons were lead equivalent 0.35 mmPb aprons currently under use in the department of nuclear medicine. As a result of experiments, average shielding rates of aprons were $^{99m}Tc$ 31.59%, $^{201}Tl$ 68.42%, and $^{123}I$ 76.63%. When using an apron, the shielding rate of $^{131}I$ actually resulted in average dose rate increase of 33.72%, and $^{18}F$ showed an average shielding rate of -0.315%, showing there was almost no shielding effect. As a result, the radioisotopes with higher shielding rate of apron was in the descending order of $^{123}I$, $^{201}Tl$, $^{99m}Tc$, $^{18}F$, $^{131}I$. Currently, aprons used in the nuclear medicine laboratory are general X-ray aprons, and it is thought that it is not appropriate for nuclear medicine environment that utilizes ${\gamma}$ rays. Therefore, development of nuclear medicine exclusive aprons suitable for the characteristics of radioisotopes is required in consideration of effective radiation protection and work efficiency of radiation workers.

Privacy Intrusion Intention on SNS: From Perspective of Intruders (SNS상에서 프라이버시 침해의도: 가해자 관점으로)

  • Eden Lee;Sanghui Kim;DongBack Seo
    • Information Systems Review
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    • v.20 no.1
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    • pp.17-39
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    • 2018
  • SNS enables people to easily connect and communicate with each other. People share information, including personal information, through SNS. Users are concerned about their privacies, but they unconsciously or consciously disclose their personal information on SNS to interact with others. The privacy of a self-disclosed person can be intruded by others. A person can write, fabricate, or distribute a story using the disclosed information of another even without obtaining consent from the information owner. Many studies focused on privacy intrusion, especially from the perspective of a victim. However, only a few studies examined privacy intrusion from the perspective of an intruder on SNS. This study focuses on the intention of privacy intrusion from the perspective of an intruder on SNS and the factors that affect intention. Privacy intrusion intentions are categorized into two types. The first type is intrusion of privacy by writing one's personal information without obtaining consent from the information owner;, whereas the other type pertains to intrusion of privacy by distributing one's personal information without obtaining consent from the information owner. A research model is developed based on motivation theory to identify how these factors affect these two types of privacy intrusion intentions on SNS. From the perspective of motivation theory, we draw one extrinsic motivational factor (response cost) and four intrinsic motivational factors, namely, perceived enjoyment, experience of being intruded on privacy, experience of invading someone's privacy, and punishment behavior. After analyzing 202survey data, we conclude that different factors affect these two types of privacy intrusion intention. However, no relationship was found between the two types of privacy intrusion intentions. One of the most interesting findings is that the experience of privacy intrusion is the most significant factor related to the two types of privacy intrusion intentions. The findings contribute to the literature on privacy by suggesting two types of privacy intrusion intentions on SNS and identifying their antecedents from the perspective of an intruder. Practitioners can also use the findings to develop SNS applications that can improve protection of user privacies and legitimize proper regulations relevant to online privacy.

Changes in Phytosterol Content in Cobs and Kernels During Physiological Maturity of Corn Ears (옥수수 이삭 등숙 기간 동안 속대와 종실의 Phytosterol 함량 변화)

  • Jun Young Ha;Young Sam Go;Jae Han Son;Mi-Hyang Kim;Kyeong Min Kang;Tae Wook Jung;Beom Young Son;Hwan Hee Bae
    • KOREAN JOURNAL OF CROP SCIENCE
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    • v.68 no.4
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    • pp.392-401
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    • 2023
  • Corn (Zea mays L.) is one of the world's most important crops, along with wheat and rice, with a global corn production expected to reach 1,154.5 million tons in 2023. Considering this grain production, The generation of corn cob is expected to reach approximately 207.8 million tons in 2023. However, as an agricultural by-product, corn cobs are often considered waste and remain underutilized. Phytosterols, which are abundant in vegetable oils such as corn oil, provide a number of health benefits, including liver health, cholesterol reduction, and protection against chronic diseases such as diabetes. In this study, we investigated the potential of Kwangpyeongok ears, which are commonly used as grain and silage corn in Korea. We also examined the variation in phytosterol content with the maturity of corn ears to identify the optimal time for utilization. At the beginning of physiological maturity, corn cobs had 113.3 mg/100g DW of total phytosterols, which was highest phytosterol abundance during the growth stage. Corn kernels also had the highest phytosterol content at the beginning of physiological maturity. While previous studies on corn bioactive compounds have mainly focused on the kernels, the results of this study highlight that cobs are an excellent source of these compounds. Furthermore, phytosterol levels were influenced by genetic factors and developmental stages, suggesting the to increase the use of cobs as a source of bioactive compounds.

Habitat Utilization Change of Crane Species against the Increasing Anthropogenic Structure after Released from Civilian Control Zone; CCZ in Cheorwon, Rep. of Korea (철원 민간인통제지역 해제 이후 인공시설물 증가에 따른 두루미류 분포변화)

  • Yoo, Seunghwa;Joo, Sungbae;Lee, Kisup;Kim, Suho;Kim, Dongwon;Kim, Hwajung;Kim, Jinhan
    • Journal of Environmental Impact Assessment
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    • v.29 no.1
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    • pp.1-7
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    • 2020
  • This study aims to evaluate the effect of artificial facilities constructed afterthe release of the civilian controlled zone (CCZ) in Cheorwon on the inhabitation of cranes. The study site was released from the CCZ in 2012, and several barns have been built since 2017. The average number of Red-crowned Cranes was 9.3±4.3 individuals (±Standard Deviation) in the period before the release of the CCZ from 2009 to 2012, and it decreased by ca. one third of Red-crowned Crane's average individuals were showing 3.5±0.5 individuals after release. The average number of White-naped Cranes also appeared to be decreased by ca. 90% from 63.3±24.6 to 6.0±6.0 individuals. This results suggest that the construction of greenhouses and barns after the releasing of the CCZ affected the decrease of the population of these two crane species. In the case of Red-crowned Crane, the core area tended to move away from the area where barns were built. However, the distribution range of Red-crowned Cranes did not change significantly we expected because the study area was not their favorite place since 2012 when the area was released from the CCZ. The density of the White-naped Crane was relatively high even in the area where greenhouses were built, but after 2017 when the barn was built intensively, core habitat of crane became shrink and fragmented. These results suggest that both Red-crowned Cranes and White-naped Cranes response sensitively against habitat change due to the construction of barns. Since the release of the CCZ, the construction of the greenhouse has been influenced on the distribution of cranes, but subsequently, the construction of the barn seems to have caused a bigger change in their core habitat because the passage of people to barns is more frequent than the greenhouses.

Development of Water-Resistant O/W Emulsion-Typed Sunscreening Cosmetics through Triblock Polymeric Surfactant-Mediated Re-emulsification Inhibition (삼중블록 고분자 계면활성제의 재유화 억제 기능을 이용한 지속내수성 O/W 에멀젼형 자외선 차단용 화장품 개발)

  • Lee, Ji Hyun;Hong, Sung Yun;Lee, Jin Yong;An, So Youn;Lee, Hyo Jin;Kim, Sung Yong;Lee, Jun Bae;Kim, Jin Woong;Shin, Kyounghee
    • Journal of the Society of Cosmetic Scientists of Korea
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    • v.45 no.2
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    • pp.199-208
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    • 2019
  • This study reports water-resistant oil-in-water (O/W) emulsion-based sunscreening formulations prepared using a poly(ethylene glycol)-poly(${\varepsilon}$-caprolactone)-poly(ethylene glycol) (PEG-PCL-PEG) triblock polymeric surfactant. As a result of a variety of outdoor recreational activities such as swimming and hiking, consumer needs for development of advanced water-resistant sunscreen formulations are increasing. Water-resistant sunscreens are mostly based on water-in-oil (W/O) emulsions, because they should not be wiped off by water or sweat. However, the W/O emulsion formulations have a disadvantage in that the feeling of use is oily and difficult to remove. On the other hand, the O/W emulsion formulations are excellent in achieving the better skin feel as well as the easier removal. However, it is difficult to provide the O/W emulsion formulations with the water-repelling performance, since re-emulsification likely occurs upon getting touch with water. To solve this problem, this study proposes a O/W emulsion-based sunscreen formulation, a triblock polymeric surfactant having relatively high interfacial tension HLB value (~ 10). This allows the sunscreen formulations to exhibit the improved water repellence function by preventing their re-emulsification. The sunscreen formation system prepared in this study would be useful for diversification of functional sunscreen products, taking advantages of its excellent emulsion stability, UV protection performance, long lasting water-resistant function and selective cleansing effect with only foam cleanser.

Comparison of CT based-CTV plan and CT based-ICRU38 plan in Brachytherapy Planning of Uterine Cervix Cancer (자궁경부암 강내조사 시 CT를 이용한 CTV에 근거한 치료계획과 ICRU 38에 근거한 치료계획의 비교)

  • Cho, Jung-Ken;Han, Tae-Jong
    • Journal of Radiation Protection and Research
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    • v.32 no.3
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    • pp.105-110
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    • 2007
  • Purpose : In spite of recent remarkable improvement of diagnostic imaging modalities such as CT, MRI, and PET and radiation therapy planing systems, ICR plan of uterine cervix cancer, based on recommendation of ICRU38(2D film-based) such as Point A, is still used widely. A 3-dimensional ICR plan based on CT image provides dose-volume histogram(DVH) information of the tumor and normal tissue. In this study, we compared tumor-dose, rectal-dose and bladder-dose through an analysis of DVH between CTV plan and ICRU38 plan based on CT image. Method and Material : We analyzed 11 patients with a cervix cancer who received the ICR of Ir-192 HDR. After 40Gy of external beam radiation therapy, ICR plan was established using PLATO(Nucletron) v.14.2 planing system. CT scan was done to all the patients using CT-simulator(Ultra Z, Philips). We contoured CTV, rectum and bladder on the CT image and established CTV plan which delivers the 100% dose to CTV and ICRU plan which delivers the 100% dose to the point A. Result : The volume$(average{\pm}SD)$ of CTV, rectum and bladder in all of 11 patients is $21.8{\pm}6.6cm^3,\;60.9{\pm}25.0cm^3,\;111.6{\pm}40.1cm^3$ respectively. The volume covered by 100% isodose curve is $126.7{\pm}18.9cm^3$ in ICRU plan and $98.2{\pm}74.5cm^3$ in CTV plan(p=0.0001), respectively. In (On) ICRU planning, $22.0cm^3$ of CTV volume was not covered by 100% isodose curve in one patient whose residual tumor size is greater than 4cm, while more than 100% dose was irradiated unnecessarily to the normal organ of $62.2{\pm}4.8cm^3$ other than the tumor in the remaining 10 patients with a residual tumor less than 4cm in size. Bladder dose recommended by ICRU 38 was $90.1{\pm}21.3%$ and $68.7{\pm}26.6%$ in ICRU plan and in CTV plan respectively(p=0.001) while rectal dose recommended by ICRU 38 was $86.4{\pm}18.3%$ and $76.9{\pm}15.6%$ in ICRU plan and in CTV plan, respectively(p=0.08). Bladder and rectum maximum dose was $137.2{\pm}50.1%,\;101.1{\pm}41.8%$ in ICRU plan and $107.6{\pm}47.9%,\;86.9{\pm}30.8%$ in CTV plan, respectively. Therefore, the radiation dose to normal organ was lower in CTV plan than in ICRU plan. But the normal tissue dose was remarkably higher than a recommended dose in CTV plan in one patient whose residual tumor size was greater than 4cm. The volume of rectum receiving more than 80% isodose (V80rec) was $1.8{\pm}2.4cm^3$ in ICRU plan and $0.7{\pm}1.0cm^3$ in CTV plan(p=0.02). The volume of bladder receiving more than 80% isodose(V80bla) was $12.2{\pm}8.9cm^3$ in ICRU plan and $3.5{\pm}4.1cm^3$ in CTV plan(p=0.005). According to these parameters, CTV plan could also save more normal tissue compared to ICRU38 plan. Conclusion : An unnecessary excessive radiation dose is irradiated to normal tissues within 100% isodose area in the traditional ICRU plan in case of a small size of cervix cancer, but if we use CTV plan based on CT image, the normal tissue dose could be reduced remarkably without a compromise of tumor dose. However, in a large tumor case, we need more research on an effective 3D-planing to reduce the normal tissue dose.

The application of alternative methods for skin irritation evaluation on pesticides (농약에 대한 피부자극성 대체시험법 적용연구)

  • Jeong, Mi-Hye;Kim, Mi-Kyoung;Park, Soo-Jin;You, Are-Sun;Hong, Soon-Sung;Park, Kyung-Hun;Park, Jae-Eup
    • The Korean Journal of Pesticide Science
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    • v.16 no.3
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    • pp.261-266
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    • 2012
  • It is common to use many experiment animals to evaluate the toxicity of chemicals including pesticides. For protecting animal, the concepts of 3R (Reduction, Replacement, Refinement) were introduced and in vitro alternatives methods actively have been developed all over the world. Many experimental animals for toxicological tests have been used, so that it is important to establish the alternative methods. In this study, the alternative method using reconstituted human skin model (Keraskin$^{TM}$) was conducted for classification of skin irritation on pesticides. Sixteen formulations selected on the basis of the degree of irritation were treated by Keraskin$^{TM}$ test. The percent of cell viability was measured into the culture medium collected after treatment of the pesticides for 24-72 hrs. The skin irritations of formulations were evaluated by the cell viability. In this study, The 4 formulations with mild irritation in rabbits were evaluated as nonirritant, the 6 formulations with moderate and severe irritation were evaluated as irritant in human skin model test. We suggest that the alternative test using Keraskin$^{TM}$ model could be used as toxicity evaluation for primary irritation index (P.I.I.) score of greater than or equal to 2.1 of pesticides. The further studies should be required to apply for hazardous assessment of pesticides on alternative skin irritation methods because of the interindividual variability of the sensitivity of skin irritation on pesticides.

A Study on the Useful Trend of Plants Related to Landscape and How to Plant and Cultivate Through 'ImwonGyeongjaeji(林園經濟志)' ('임원경제지'를 통해 본 식물의 이용경향과 종예법(種藝法))

  • Shin, Sang-Sup
    • Korean Journal of Heritage: History & Science
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    • v.45 no.4
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    • pp.140-157
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    • 2012
  • The result of a study on the useful trend of plants related to landscape and how to plant and cultivate through 'ImwonGyeongjaeji Manhakji'of Seoyugu is as follows: First, 'ImwonGyeongjaiji Manhakji', composed of total 5 volumes (General, Fruit trees, vegetables and creeper, plants, others) is a representative literature related to landscape which described the names of plants and varieties, soil condition, how to plant and cultivate, graft, how to prevent the insect attack etc systematically. Second, he recorded the tree planting as Jongjae(種栽) or Jaesik(栽植), and the period to plant the trees as Jaesusihoo(栽樹時候), transplanting as Yijae(移栽), making the fence as Jakwonri(作園籬), the names of varietieis as Myeongpoom(名品), the suitable soil as Toeui(土宜), planting and cultivation as Jongye(種藝), treatment as Euichi(醫治), protection and breeding as Hoyang(護養), garden as Jeongwon(庭園) or Wonpo(園圃), garden manager as Poja(圃者) or Wonjeong(園丁). Third, the appearance frequency of plants was analyzed in the order of flowers, fruits, trees, and creepers and it showed that the gravity of deciduous trees was 3.7 times higher than that of evergreen trees. The preference of flower and trees, fruit trees and deciduous trees and broad-leaved trees includes (1) application of the species of naturally growing trees which are harmonized with the natural environment (2) Aesthetic value which enables to enjoy the beauty of season, (3) the trend of public welfare to take the flowers and fruits, (4) the use of symbolic elements based on the value reference of Neo-Confucianism etc. Fourth, he suggested the optimal planting period as January(上時) and emphasized to transplant by adding lots of fertile soil and cover up the seeds with soil as high as they are buried in accordance with the growing direction and protect them with a support. That is, considering the fact that he described the optimal planting period as January by lunar calendar, this suggests the hints in judging the planting period today. For planting the seeds, he recommended the depth with 1 chi(寸 : approx. 3.3cm), and for planting a cutting, he recommended to plant the finger-thick branch with depth 5 chi(approx. 16.5cm) between January and February. In case of graft of fruit trees, he described that if used the branch stretched to the south, you would get a lot of fruit and if cut the branches in January, the fruits would be appetizing and bigger. Fifth, the hedge(fence tree) is made by seeding the Jujube tree(Zizyphus jujuba var. inermis) in autumn densely and transplanting the jujube tree with 1 ja(尺 : approx. 30cm) interval in a row in next autumn and then binding them with the height of 7 ja(approx. 210cm) in the spring of next year. If planted by mixing a Elm tree(Ulmus davidiana var. japonica) and a Willow(Salix koreensis), the hedge whose branch and leaves are unique and beautiful like a grating can be made. For the hedge(fence tree), he recommended Trifoliolate orange(Poncitus trifoliata), Rose of sharon(Hibiscus syriacus), Willow(Salix koreensis), Spindle tree(Euonymus japonica), Cherry tree(Prunus tomentosa), Acanthopanax tree(Acanthopanax sessiliflorus), Japanese apricot tree(Prunus mume), Chinese wolf berry(Lycium chinense), Cornelian tree(Cornus officinalis), Gardenia(Gardenia jasminoides for. Grandiflora), Mulberry(Morus alba), Wild rosebush(Rosa multiflora) etc.

The Effect of Common Features on Consumer Preference for a No-Choice Option: The Moderating Role of Regulatory Focus (재몰유선택적정황하공동특성대우고객희호적영향(在没有选择的情况下共同特性对于顾客喜好的影响): 조절초점적조절작용(调节焦点的调节作用))

  • Park, Jong-Chul;Kim, Kyung-Jin
    • Journal of Global Scholars of Marketing Science
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    • v.20 no.1
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    • pp.89-97
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    • 2010
  • This study researches the effects of common features on a no-choice option with respect to regulatory focus theory. The primary interest is in three factors and their interrelationship: common features, no-choice option, and regulatory focus. Prior studies have compiled vast body of research in these areas. First, the "common features effect" has been observed bymany noted marketing researchers. Tversky (1972) proposed the seminal theory, the EBA model: elimination by aspect. According to this theory, consumers are prone to focus only on unique features during comparison processing, thereby dismissing any common features as redundant information. Recently, however, more provocative ideas have attacked the EBA model by asserting that common features really do affect consumer judgment. Chernev (1997) first reported that adding common features mitigates the choice gap because of the increasing perception of similarity among alternatives. Later, however, Chernev (2001) published a critically developed study against his prior perspective with the proposition that common features may be a cognitive load to consumers, and thus consumers are possible that they are prone to prefer the heuristic processing to the systematic processing. This tends to bring one question to the forefront: Do "common features" affect consumer choice? If so, what are the concrete effects? This study tries to answer the question with respect to the "no-choice" option and regulatory focus. Second, some researchers hold that the no-choice option is another best alternative of consumers, who are likely to avoid having to choose in the context of knotty trade-off settings or mental conflicts. Hope for the future also may increase the no-choice option in the context of optimism or the expectancy of a more satisfactory alternative appearing later. Other issues reported in this domain are time pressure, consumer confidence, and alternative numbers (Dhar and Nowlis 1999; Lin and Wu 2005; Zakay and Tsal 1993). This study casts the no-choice option in yet another perspective: the interactive effects between common features and regulatory focus. Third, "regulatory focus theory" is a very popular theme in recent marketing research. It suggests that consumers have two focal goals facing each other: promotion vs. prevention. A promotion focus deals with the concepts of hope, inspiration, achievement, or gain, whereas prevention focus involves duty, responsibility, safety, or loss-aversion. Thus, while consumers with a promotion focus tend to take risks for gain, the same does not hold true for a prevention focus. Regulatory focus theory predicts consumers' emotions, creativity, attitudes, memory, performance, and judgment, as documented in a vast field of marketing and psychology articles. The perspective of the current study in exploring consumer choice and common features is a somewhat creative viewpoint in the area of regulatory focus. These reviews inspire this study of the interaction possibility between regulatory focus and common features with a no-choice option. Specifically, adding common features rather than omitting them may increase the no-choice option ratio in the choice setting only to prevention-focused consumers, but vice versa to promotion-focused consumers. The reasoning is that when prevention-focused consumers come in contact with common features, they may perceive higher similarity among the alternatives. This conflict among similar options would increase the no-choice ratio. Promotion-focused consumers, however, are possible that they perceive common features as a cue of confirmation bias. And thus their confirmation processing would make their prior preference more robust, then the no-choice ratio may shrink. This logic is verified in two experiments. The first is a $2{\times}2$ between-subject design (whether common features or not X regulatory focus) using a digital cameras as the relevant stimulus-a product very familiar to young subjects. Specifically, the regulatory focus variable is median split through a measure of eleven items. Common features included zoom, weight, memory, and battery, whereas the other two attributes (pixel and price) were unique features. Results supported our hypothesis that adding common features enhanced the no-choice ratio only to prevention-focus consumers, not to those with a promotion focus. These results confirm our hypothesis - the interactive effects between a regulatory focus and the common features. Prior research had suggested that including common features had a effect on consumer choice, but this study shows that common features affect choice by consumer segmentation. The second experiment was used to replicate the results of the first experiment. This experimental study is equal to the prior except only two - priming manipulation and another stimulus. For the promotion focus condition, subjects had to write an essay using words such as profit, inspiration, pleasure, achievement, development, hedonic, change, pursuit, etc. For prevention, however, they had to use the words persistence, safety, protection, aversion, loss, responsibility, stability etc. The room for rent had common features (sunshine, facility, ventilation) and unique features (distance time and building state). These attributes implied various levels and valence for replication of the prior experiment. Our hypothesis was supported repeatedly in the results, and the interaction effects were significant between regulatory focus and common features. Thus, these studies showed the dual effects of common features on consumer choice for a no-choice option. Adding common features may enhance or mitigate no-choice, contradictory as it may sound. Under a prevention focus, adding common features is likely to enhance the no-choice ratio because of increasing mental conflict; under the promotion focus, it is prone to shrink the ratio perhaps because of a "confirmation bias." The research has practical and theoretical implications for marketers, who may need to consider common features carefully in a practical display context according to consumer segmentation (i.e., promotion vs. prevention focus.) Theoretically, the results suggest some meaningful moderator variable between common features and no-choice in that the effect on no-choice option is partly dependent on a regulatory focus. This variable corresponds not only to a chronic perspective but also a situational perspective in our hypothesis domain. Finally, in light of some shortcomings in the research, such as overlooked attribute importance, low ratio of no-choice, or the external validity issue, we hope it influences future studies to explore the little-known world of the "no-choice option."

An Overview of the Rationale of Monetary and Banking Intervention: The Role of the Central Bank in Money and Banking Revisited (화폐(貨幣)·금융개입(金融介入)의 이론적(理論的) 근거(根據)에 대한 고찰(考察) : 중앙은행(中央銀行)의 존립근거(存立根據)에 대한 개관(槪觀))

  • Jwa, Sung-hee
    • KDI Journal of Economic Policy
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    • v.12 no.3
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    • pp.71-94
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    • 1990
  • This paper reviews the rationale of monetary and banking intervention by an outside authority, either the government or the central bank, and seeks to delineate clearly the optimal limits to the monetary and banking deregulation currently underway in Korea as well as on a global scale. Furthermore, this paper seeks to establish an objective and balanced view on the role of the central bank, especially in light of the current discussion on the restructuring of Korea's central bank, which has been severely contaminated by interest-group politics. The discussion begins with the recognition that the modern free banking school and the new monetary economics are becoming formidable challenges to the traditional role of the government or the central bank in the monetary and banking sector. The paper reviews six arguments that have traditionally been presented to support intervention: (1) the possibility of an over-issue of bank notes under free banking instead of central banking; (2) externalities in and the public good nature of the use of money; (3) economies of scale and natural monopoly in producing money; (4) the need for macro stabilization policy due to the instability of the real sector; (5) the external effects of bank failure due to the inherent instability of the existing banking system; and (6) protection for small banknote users and depositors. Based on an analysis of the above arguments, the paper speculates on the optimal role of the government or central bank in the monetary and banking system and the optimal degree of monetary and banking deregulation. By contrast to the arguments for free banking or laissez-faire monetary systems, which become fashionable in recent years, monopoly and intervention by the government or central bank in the outside money system can be both necessary and optimal. In this case, of course, an over-issue of fiat money may be possible due to political considerations, but this issue is beyond the scope of this paper. On the other hand, the issue of inside monies based on outside money could indeed be provided for optimally under market competition by private institutions. A competitive system in issuing inside monies would help realize, to the maxim urn extent possible, external economies generated by using a single outside money. According to this reasoning, free banking activities will prevail in the inside money system, while a government monopoly will prevail in the outside money system. This speculation, then, also implies that the monetary and banking deregulation currently underway should and most likely will be limited to the inside money system, which could be liberalized to the fullest degree. It is also implied that it will be impractical to deregulate the outside money system and to allow market competition to provide outside money, in accordance with the arguments of the free banking school and the new monetary economics. Furthermore, the role of the government or central bank in this new environment will not be significantly different from their current roles. As far as the supply of fiat money continues to be monopolized by the government, the control of the supply of base money and such related responsibilities as monetary policy (argument(4)) and the lender of the last resort (argument (5)) will naturally be assigned to the outside money supplier. However, a mechanism for controlling an over-issue of fiat money by a monopolistic supplier will definitely be called for (argument(1)). A monetary policy based on a certain policy rule could be one possibility. More importantly, the deregulation of the inside money system would further increase the systemic risk inherent in the current fractional banking system, while enhancing the efficiency of the system (argument (5)). In this context, the role of the lender of the last resort would again become an instrument of paramount importance in alleviating liquidity crises in the early stages, thereby disallowing the possibility of a widespread bank run. Similarly, prudential banking supervision would also help maintain the safety and soundness of the fully deregulated banking system. These functions would also help protect depositors from losses due to bank failures (argument (6)). Finally, these speculations suggest that government or central bank authorities have probably been too conservative on the issue of the deregulation of the financial system, beyond the caution necessary to preserve system safety. Rather, only the fullest deregulation of the inside money system seems to guarantee the maximum enjoyment of external economies in the single outside money system.

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