Money is Not Wealth This is a guest post by Greg Linster, a graduate student studying economics at the University of Denver. He blogs at Coffee Theory about things philosophical and shares aphorisms (almost daily) at Aphoristic Cocktails. The father of modern economics, Adam Smith, once wrote: "All money is a matter of belief." The question I want to pose (and hopefully answer in this article), then, is: Should we believe? I’m afraid, however, that the answer is a rather tricky one.
Rosner and Markowitz, Your Body Is a Corporate Test Tube Just over three years ago, an explosion on the Deepwater Horizon oil rig leased by BP killed 11 people, injured 17, and -- according to government estimates -- polluted the Gulf of Mexico with 210 million gallons of Louisiana sweet crude. It turns out, however, that the casualty toll didn’t end with those 28 workers. The real number may reach into the thousands. Last year, BP pled guilty to 14 felonies stemming from the disaster, including misleading Congress about the amount of oil that gushed into the gulf.
A billion-year storage medium that could outlive the human race A QR code etched in tungsten and embedded in graphene oxide on an optical disc Credit: University of Twente) Researcher Dr. Jeroen de Vries from the University of Twente MESA+ Institute for Nanotechnology suggests we could store data for one million to one billion years, using a new storage medium based on tungsten and graphene oxide.
Learning languages I wanna talk about learning languages. I’ve lived in many different countries, both in Western Europe, Middle East, and now here in Hong Kong. And during all of that time, I’ve learned five or six different languages, to one degree or another. Emperors, clothes, money BBC Radio 4′s documentary series Analysis has a fascinating programme that explores the little-asked question ‘What is Money?’ – and the answer turns out to be scarily psychological. In fact, the definition is very close to William Gibson’s description of cyberspace as a “mass consensual hallucination” because money relies on us to believe in it for it to work. In other words, it’s largely a social concept we all sign up to and this episode of Analysis looks at the economics of how (or rather how not) money is tied to actual goods and services in the world and what this means in times of financial crisis. It also turns out that the BBC are now linking to podcasts directly from the programme pages so even though we live our lives in the grip of a self-imposed imaginary power at least the Radio 4 website is now easier to use. Link to Analysis episode ‘What is Money?’
Report: Wealthy Thrive and Poorest Dive as Surge in US Inequality Continues The great wealth divide in the United States has only become more exacerbated since the recession, as national policies have buoyed only the wealthiest Americans while the remainder have been left adrift. According to a new analysis (pdf) of Census Bureau data published Tuesday by the Pew Research Center, since the economy officially emerged from the recession in mid-2009, the wealthiest 7 percent of households saw soaring gains of an estimated $5.6 trillion, while the remaining 93 percent—111 million households—saw their overall wealth fall by an estimated $0.6 trillion. “It has been a very good recovery for those at the upper end of the wealth distribution,” said Paul Taylor, executive vice president of the Pew Research Center and co-author of the report. “But there has been no recovery for the lower 93, which is nearly everybody.” Though hailed as a success by many, this pattern of the rich getting richer was predominantly fueled by the stock market rallies during that period.
How economic growth has become anti-life Limitless growth is the fantasy of economists, businesses and politicians. It is seen as a measure of progress. As a result, gross domestic product (GDP), which is supposed to measure the wealth of nations, has emerged as both the most powerful number and dominant concept in our times. However, economic growth hides the poverty it creates through the destruction of nature, which in turn leads to communities lacking the capacity to provide for themselves.
Travel – English Podcast Vocabulary & Pronunciation Zapp! English Vocabulary & Pronunciation Podcast 3.4 – Travel Audio Player When we’ve travelled somewhere, we usually want to tell our friends and family all about our trip. In this unit you’ll learn how to do this in English. You’ll be improving both your English vocabulary and your listening skills, as you hear Tom and Katie answering travel questions and discussing what kind of travellers they are.