John Mcdermott

By incorporating real time into the analysis of sales and purchases, the phenomena of product innovation, advertising and distribution, the provision of consumer credit, and, ultimately, the production of a changing workforce all become intrinsic to microeconomic analysis. In mainstream economics the series of purchases, say, of a personal computer, then of software upgrades, peripherals, on-line services, and so on are analyzed as discrete transactions. McDermott instead links such purchases withing a "sale/purchase state" occupying the period beginning with the initial purchase of the PC and ending only when all of the PC's services have been exchanged to the buyer. In transforming the analysis of contemporary sales and purchases, Economics in Real Time draws a radically diferent picture of the terrain of a modern economy. John McDermott is Professor Emeritus of Labor Studies at the State University of New York, Old Westbury.

Experience Hendrix announces a brand new collection that couples the brand new feature length documentary Music, Money, Madness . . . Jimi Hendrix In Maui with the accompanying live performances on both audio and video.

"The performances featured on this compilation celebrate Jimi Hendrix's unique spirit and remarkable catalog in a symphonic context," writes annotator John McDermott of an album "featuring Sting, Carlos Santana, Brian Hay, John McLaughlin, Taj Mahal, Eric Schenkman, Steve Lukather, Paul Rodgers, Buddy Miles, Bootsy Collins, Tony Williams, Stanley Clarke, Robben Ford, Sass Jordan, Cozy Powell, Corey Glover, Hiram Bullock, Toots Thielemans, Bernie Worrell, Doug Pinnick, Dave Abbruzzese, Billy Cox, Noel Redding, and Steve Vai with the London Metropolitan Orchestra." The real force behind this Hendrix tribute album is producer/engineer Eddie Kramer, who engineered Hendrix's original albums. Unlike other tribute albums, in which a group of cover songs are collected from established artists, In from the Storm features performances by one-time ensembles put together specially by Kramer, usually featuring the London Metropolitan Orchestra.

Tony Williams's pioneering electric trio Lifetime made two stunning, yet imperfect records in the early 1970s in Emergency! and Turn It Over. A reflection of the turbulence of its times and the new attitudes that were being shaped, Lifetime began life as one of jazz's first all-star power trios: the brilliant Larry Young on organ, the multitalented John McLaughlin on guitar and Williams, a complete arsenal of one on drums. Some of the music this group made was powerful and breathtaking. Some of it was downright pretentious and amateurish (especially whenever someone started singing). But even so, jazz audiences hated the group; it was rock listeners who were intuitive enough to pick up on this trio's amazing musical integrity.