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first_imgWhen the global recession hit in 2008, few nations were spared the devastating impact or lingering aftershocks, including the United States and China, the world’s top economic superpowers. Looking to better understand the crisis and help the Chinese government navigate its challenges, Liu He, M.P.A. ’95, a leading Beijing economist and policy adviser who now serves as minister of the Office of the Central Leading Group on Financial and Economic Affairs, assembled a research team in 2010 to study the circumstances surrounding the Great Depression of the 1930s and the 2008 recession in the hope that the comparison might provide some guideposts.The resulting analysis, published jointly this month by the Harvard Kennedy School’s Belfer Center and the Mossavar-Rahmani Center, identifies a number of instructive similarities between the two crises, including large, nearly-identical income gaps between the wealthiest 1 percent of Americans and everyone else in 1928 and 2007; populist, nationalist, and economic problems that led to poor decision-making by policymakers; and a broadly-felt redistribution of wealth and power on a global scale.The analysis offers a number of important insights for policymakers and investors around the world, say Lawrence Summers and Graham Allison in the paper’s foreword. Summers is the Charles W. Eliot University Professor and Weil Director of the Mossavar-Rahmani Center. Allison is the Douglas Dillon Professor and the Belfer Center’s director.The Gazette asked Summers and Allison about the study’s key observations and policy recommendations and how those might inform U.S. economic and foreign policy strategies. GAZETTE: Which “lessons from China” would you advise U.S. leaders to implement today, and why? Could they work in this political system?SUMMERS: We should be cautious about extrapolating lessons from China to the United States. China has a very different political system, and an economy at a different stage of development. Certainly, the way China responded very strongly and boldly to the financial crisis with a major program of fiscal expansion — and got very good results — is an instructive lesson for economies around the world.“It is easier to prevent a crisis, or at least prepare to combat one, than to recover from one that has already occurred,” said Graham Allison. File photos by Jon Chase/Harvard Staff PhotographerALLISON: Liu He recommends China focus on “putting our domestic affairs in order as the foundation for tackling external impacts and realizing our peaceful rise in the world.” This advice resonates with many in the United States who, remembering costly American commitments in Iraq and Afghanistan, are wary about engaging in new adventures abroad.In Minister Liu’s view, during the financial crisis, politicians were too often “hijacked by short-term public opinion and mired in political gridlock, afraid of breaking ideological constraints.” This also rings true in the U.S., where politics has grown increasingly partisan, often at the expense of wise policymaking. In contrast to the U.S. and Europe, China executed policy decisions rather smoothly and was more able to weather the crisis. He also stresses the importance of “making long-term preparations for structural changes resulting from the crisis,” but this will be difficult in the U.S.GAZETTE: While the U.S. economy continues to stagnate, China has sustained about three-quarters of its pre-crisis annual growth rate of 10 percent and accounts for a staggering 40 percent of the world’s economic growth since 2008. Is that attributable strictly to China’s post-2008 policy decisions, or are there other forces at work? And could this kind of growth be duplicated in the West?SUMMERS: No. The largest reason why China is growing so rapidly is that it has substantial opportunities to catch up. The average Chinese standard of living is less than a quarter of the American standard of living. In fact, China’s living standards are now about equal with America’s living standards around 1930. There’s much to admire in what the Chinese have done, but extrapolating their experience to industrialized economies would be a serious mistake.GAZETTE: While the world seems to be waiting for a new theory or solution to break out of the current economic crisis, Liu’s analysis concludes that whether it returns to form will “largely depend on external luck.” Do you agree and if so, what does that mean going forward?ALLISON: This is another way of pointing out how difficult it is for economists to predict the future. But as Minister Liu points out, prevention is often the best medicine. It is easier to prevent a crisis, or at least prepare to combat one, than to recover from one that has already occurred. So going forward, it would be wise to focus not just on recovering from the current crisis, but on putting in place measures that will make it easier to mitigate the next crisis.“The average Chinese standard of living is less than a quarter of the American standard of living. In fact, China’s living standards are now about equal with America’s living standards around 1930.” said Lawrence Summers.GAZETTE: China’s strategic realignment since the 2008 crisis — focusing on domestic issues while avoiding major international conflicts, acquiring new technologies from developed countries, investing in infrastructure — are driving an intense political debate right now in the U.S. Under what circumstances, if any, could you envision the U.S. making long-range economic policy decisions free from the constraints of short-term political calculation?SUMMERS: In a democracy, no decisions are made free from politics. All of the relevant decision-makers are part of a political system. That is as it should be. The U.S. does make long-run decisions — whether it’s our patent system that protects intellectual property, our leading biomedical research at the National Institutes of Health, or long-term investments that support international development, American democracy is capable of making investments that are farsighted and visionary. Certainly it’s true that we need more of that going forward. That’s a challenge for political leaders, but I don’t subscribe to the view that moving away from democracy is the way to get more emphasis on the long run.ALLISON: I don’t see the U.S. Congress tying its economic policy-making hands any time soon, even if it would be for the greater good.GAZETTE: The global economic crisis appears to be accelerating a shift in the balance of wealth and power from the U.S. to the Asia-Pacific region. What will that mean politically and economically for the U.S. and for Europe in the coming decade?SUMMERS: There’s no question that the world is going to be more multipolar and there’s going to be more income and wealth in emerging economies. With less absolute strength, we are going to have to be smarter in the strategies we pursue. It would be a mistake if we responded to these trends by becoming more isolationist. We have to be smarter in our engagement with the rest of the world.ALLISON: Speaking just about China, it is already the world’s largest energy consumer, top exporter, and top trading country overall. It will soon overtake the U.S. as the world’s largest economy, and according to some estimates, it will overtake the U.S. as the world’s top defense spender before the middle of the century. The question for both China and the U.S. is how to manage this transition peacefully, and how to uphold the current international order that provided the Asian security and economic environment in which China has emerged.last_img read more


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first_imgPhoto courtesy of Les McCarthy Members of the Notre Dame community participate in an ALS awareness walk on campus. The walk is sponsored by the Neuroscience Club and the Notre Dame Club of the Mid-Hudson Valley.Sophomore Michelle Lee, Neuroscience Club member, is commissioner for the ALS walk this year.Registration for the event starts at 8:45 a.m. inside the Jordan Hall of Science. After registration, coffee, bagels and muffins will be available prior to a short speech by Kronenberger and co-president of the Mid-Hudson Valley Club Les McCarthy. The group will head out for the walk a little before 9:45 a.m. McCarthy and Kronenberger said registration for the event is $10 and can be completed online prior to the walk or at the event. Event t-shirts were donated by local company CN PATEL and family, and the College of Science is providing refreshments, so the whole $10 will go towards ALS patient support in St. Joseph County. The purpose of the walk is to raise money for local PALS (patients with ALS) and caregivers, McCarthy said. Starting at Jordan, the walk will go “through South Quad, around the lakes and then stop at the grotto for a prayer service where we will read a list of alumni and Notre Dame community members who have had ALS,” Kronenberger said. Holy Cross priest Fr. Robert “Bob” Dowd will lead the prayer service.“We will pray specifically for them, their families and in general for ALS patients and their caregivers,” Kronenberger said.McCarthy and Linda Legault Quinn, class of 1984, co-presidents of the Mid-Hudson Valley Club, have acted as advisors to the Neuroscience Club for the 2018 walk as well as previous ALS walks on campus in 2015 and 2016. The Notre Dame Club of the Mid-Hudson Valley has held a walk, located on the picturesque walkway over the Hudson each year every third Sunday of October since 2009. The walk on Notre Dame’s campus complements the annual walk across the Hudson River. The first walk across the Hudson drew 55 participants. Almost 10 years later, the recent walk on Oct. 21 drew 2,000 participants and a large sum of donations that went towards the ALS Association Greater New York Chapter, McCarthy said. McCarthy was inspired to start the walk after losing three friends to the disease. “When my first friend died twenty-five years ago, I knew nothing about ALS, as many people still don’t know today,” McCarthy said. “I was moved because I saw the effects, but I really didn’t do anything about [it]. I didn’t have the time then that I do today. “Then my former classmate at Cornell died in 2006 of ALS in the prime of his life. And then, in the spring of 2009, Gus Raspitha, ‘70 Ph.D., a club member, died of ALS. And with three strikes, you have to do something. I felt it was a sign that [the walk was] exactly what we should do.”McCarthy said others must understand “the fierce headwinds” PALS and their caregivers go through every day. But ALS still has no cure. Kronenberger, who does cancer research, provided insight into why he believes students should come out to the walk. “One of the things that is unique about our university is the undergraduate research component,” he said. “ALS research is something that some students might be really interested in getting involved in but just have no idea what ALS is or don’t know how to find involvement opportunities.”McCarthy said he was hopeful the walk would be successful. “The real dream would be that we inspire one of these young brilliant minds to run with the ball after finding out firsthand just how devastating this disease is,” he said. The donations page will remain open the week following the walk.Tags: ALS, ALS Walk, Mid-Hudson Valley Club, neuroscience club Notre Dame students, faculty, alumni and community members from the surrounding area will walk to raise awareness and monetary support for ALS (amyotrophic lateral sclerosis) in St. Joseph County on Saturday. The walk is sponsored by the Neuroscience Club and the Notre Dame Club of the Mid-Hudson Valley. “ALS is a neurodegenerative disorder that causes the neurons in the central nervous system to break down, and the Neuroscience Club focuses on anything from the brain to all the neurons in your body,”  Neuroscience Club co-president and junior David Kronenberger said.last_img read more


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first_imgToday’s trailer is for a feature film called Deep Powder, set in the early 80’s. The trailer starts off with the age old tale of well-off, good looking girl falling for the boy from the wrong side of the tracks, or in this case the wrong side of the ski lift. Obviously, this story has been played to death and we can see the ending coming a mile away. But then the trailer takes a sharp right turn into the land of double entendre at the :45 mark, when cocaine comes onto the scene. Like I said, set in the early 80’s.It seems our two heroes head for the greener pastures of financial independence via a backpacking/ski trip down to South America to bring back drugs. The trailer’s information section reveals a little more of the backstory:“Privileged and reckless boarding school senior Natasha Tabor (Haley Bennett) is tapped by her secret society to make its annual drug run to Ecuador. She in turn chooses a working-class local boy (Shiloh Fernandez) as her partner in crime, launching a journey with devastating outcomes for everyone involved. Inspired by true events from the early ’80s, Deep Powder is an intense and sexy drama that speaks to the character that is revealed when you find yourself trapped.”From there it’s jump cuts between danger and ecstasy with some drug dogs, scooter shots, DEA agents, and machetes thrown in for good measure. Will they get away with it? Will they stay together? Will they shred deep powder? Will the secret society be revealed?Guess we’ll have to see the movie to find out, but since it’s based on true events you can probably just Google it.last_img read more


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first_imgAmazon.com Inc. has announced the launch of Amazon One, a contactless device that scans for payments, loyalty programs and more.Amazon One is rolling out at two of the e-commerce giant’s Amazon Go stores in Seattle, where it’ll be used to gain entry. Customers will first swipe their credit card, then wave their palm above the device to register their “palm signature.”Once enrolled, customers can enter Amazon Go stores by waving their hand. Amazon will roll out the device at more of its stores in the coming months.Those who don’t want to use their palm to gain entry to Amazon Go stores can still use an Amazon app or speak with an associate to pay in cash. continue reading » ShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblrlast_img read more


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first_imgFor example, the combination of work requirements in the 1996 welfare rehaul, the expansion of the earned income credit, additional child-care funding and the uniquely tight latter-90s labor market led to increases in the employment rates of mother-only families.But as the job market weakened, those employment gains faded, even as the work requirements remained in place.Meanwhile, the loss of income supports exacerbated not just poverty but deep poverty (families with income below half the poverty threshold, about $10,000 for a single parent with two children).KANSAS DATA IS REVEALINGCompelling new evidence comes from data on the Kansas TANF (Temporary Assistance for Needy Families) program, which imposed tough, new work sanctions on some of the state’s most economically vulnerable families.For example, in late 2011, the state began requiring applicants to complete 20 job contacts per week before their application would be considered, along with shorter time limits on recipiency, longer sanction periods and harsh sanctions for missing appointments.The first thing that happened is the Kansas TANF caseload fell sharply, by more than half. But did the leavers join the labor market?In fact, most adults who left TANF were already working, and they worked just as much before they left TANF as they did afterward, according to the Center on Budget and Policy Priorities. Categories: Editorial, OpinionThe fundamental conservative law of work incentives goes like this: If you give rich people more money, they will work harder. If you give poor people money, they will work less. Therefore, the rich need tax cuts, and the poor need work requirements.President Trump and the Republican majority in Congress have, of course, passed the regressive tax-cut package.They are actively pursuing adding work requirements to food assistance (SNAP), housing subsidies, Medicaid and the rest of the safety net.Should they succeed, the result of their strategy will not be more work. It will be richer rich people and poorer poor people. It will exacerbate existing inequalities.I will present the evidence in a moment, but, to be clear, requiring work of those who use low-income programs may initially encourage those who would have worked anyway to do so more quickly, at least if they don’t face significant employment barriers and also live in an area where jobs are available.But the reality of the stressors of poverty, the volatility of the low-wage labor market, the lack of decent and affordable child care, discrimination, and more will assert themselves and limit the long-term effect. Punitive measures like work requirements and time limits won’t help them.They need sectoral training (skill building specific to local employers’ needs), adequate minimum wages, work supports such as reliable child care and paid family leave, wage subsidies (e.g., an expanded EITC), health care, and in areas with too few opportunities, direct job-creation programs.The current Republican playbook is to provide tax cuts for the wealthy and offset their cost by cutting benefits for the poor.Seen in this light, work requirements are a thinly veiled tactic to reduce participation in these programs.We know how to help economically vulnerable people, and, unsurprisingly, it does not entail making them worse off.Jared Bernstein, a former chief economist to Vice President Joe Biden, is a senior fellow at the Center on Budget and Policy Priorities, a former chief economist to Vice President Joe Biden, is a senior fellow at the Center on Budget and Policy Priorities.More from The Daily Gazette:EDITORIAL: Find a way to get family members into nursing homesEDITORIAL: Urgent: Today is the last day to complete the censusFoss: Should main downtown branch of the Schenectady County Public Library reopen?EDITORIAL: Thruway tax unfair to working motoristsEDITORIAL: Beware of voter intimidationcenter_img More than half of able-bodied, working-age SNAP recipients work when on the program, and more than 80 percent work in the year before or after receiving SNAP benefits (that is almost 90 percent for families with kids).About 60 percent of Medicaid beneficiaries work, and among working-age households in the Housing Choice Voucher program, 70 percent have at least one member who is working or recently worked.But work is not the ladder out of poverty it needs to be for these families.Though some falsely claim that sanctioned workers are thriving in Kansas, a full four years after losing TANF benefits, the parents who were kicked off the program because of a work sanction had median earnings of only around $2,000, about 10 percent of the poverty level.Clearly, the labor market problem facing these impoverished parents was not receiving TANF. Thus, work requirements utterly failed to move them out of poverty.The true problem is that too many poor adults face steep labor market barriers, including skill deficits, criminal records, mental health issues and employer discrimination.And/or they live in places where even in good economic times, living-wage jobs are scarce. About 70 percent of these low-income parents worked at some point both in the year before and the year after they left, and 84 percent worked at some point over that full period (before or after leaving the rolls).These relatively high employment rates suggest that their spells on TANF were probably short, with families using the program as it was intended: a temporary support when work is not available or feasible.This is an extremely common finding in the literature on poverty and benefit receipt.FALSE PERCEPTIONSThe notion that working-age, able-bodied poor people with public assistance do not work is wrong.It is true that their connection to the job market is often less stable than that of the nonpoor.About a third of the parents in the Kansas study posted solid labor-market attachment, working at least seven of the nine quarters observed in the study, and about half worked between one and six quarters.Among adults who work and receive some form of assistance to meet their basic needs, just under half work full-time.last_img read more


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first_imgTopics : Linkedin Google Amid competition concerns, local universities have urged the government to ensure a level playing field following a plan by Australia-based Monash University to establish a campus in Indonesia.Private Universities Association (APTISI) chairman Budi Djatmiko said the presence of foreign universities in general would affect competition among top local universities, both private and state-run, that targeted students from middle to upper income families. This would consequently drive those universities to target lower-income students, further affecting smaller universities, he said.”They [foreign universities] should only offer study programs that aren’t commonly available in Indonesia, so that there won’t be head-to-head competition […] otherwise, there will be [market] shifts and consequently, smaller universities won’t have students anymore. That’s probably … Facebook Log in with your social account LOG INDon’t have an account? Register here Forgot Password ? university Monash-University Education higher-education private-universities state-universities Competition free-tradelast_img read more


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first_imgA project by the Oil & Gas Technology Centre (OGTC), Total, and Taurob, in partnership with Technische Universitaet Darmstadt (TU Darmstadt), will develop and trial a mobile robot for autonomous operational inspection of offshore platforms.OGTC said that the 18-month project would develop a mobile robot for autonomous inspection of Total’s offshore Alwyn platform and onshore Shetland Gas Plant.The Centre added that the trial was the first time an autonomous ground robot would be used on an operational oil and gas installation.The OGTC and Total are developing the robot with Austrian manufacturer, Taurob and TU Darmstadt, who collaborated to win Total’s Autonomous Robots for Gas and Oil Sites (ARGOS) challenge in 2017.The challenge involved developing an autonomous robot that could perform routine tasks and respond to challenges in a simulated oil and gas operational environment.According to the OGTC, the robot developed by Taurob and TU Darmstadt, ATEX-certified to work in gas environments without risk of ignition, can perform visual inspections, read dials, level gauges and valve positions, navigate through narrow pathways and up and down stairs, measure temperature and gas concentration, and detect and navigate around obstacles and humans.Matthias Biegl, managing director for Taurob, said: “During the next 18 months our ATEX certified and autonomous robot will be further enhanced to be eventually deployed on an offshore platform in the North Sea.”The project will develop a further two versions of the ARGOS robot that, the OGTC claims would be more robust and reliable with improved functionality and could be operated by workers offshore without the requirement for onsite robotics experts.Rebecca Allison, OGTC’s asset integrity solution center manager, said: “We are delighted to be involved in this world-first project that is at the cutting-edge of robotics for the oil and gas industry. A robot working alongside humans on a North Sea platform isn’t a distant aspiration, it could be a reality in the next 18-months, paving the way for a robotics revolution. Projects like this will help inspire and attract the next generation oil and gas workforce.”Dave Mackinnon, head of technology and innovation for Total E&P UK, added: “We are on the cusp of delivering technology that will improve safety, reduce costs and even prolong the life of North Sea operations. Robots represent an exciting new paradigm for the oil and gas offshore industry and Total is proud to be part of it.”<span data-mce-type=”bookmark” style=”display: inline-block; width: 0px; overflow: hidden; line-height: 0;” class=”mce_SELRES_start”></span>last_img read more


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first_imgThe Daily Signal 23 September 2020Family First Comment: Thank you President Trump:“Today I am announcing that I will be signing the ‘born alive’ executive order to ensure that all precious babies born alive—no matter their circumstances—receive the medical care that they deserve,” the president said. “This is our sacrosanct moral duty.” In 2002, President George W. Bush signed into law a bill extending legal protection to infants born alive at any stage of development, including after an abortion. The law, however, lacked enforcement provisions.”President Donald Trump announced Wednesday that he will sign an executive order to ensure that babies who are born alive receive proper medical care.Although the president didn’t go into detail about what the order would do, proposals earlier this year in the House and Senate would require health care professionals to treat a baby born alive after an attempted abortion the same as medical professionals would treat any other newborn.“I will always defend the sacred right to life,” Trump said in remarks at the 16th annual National Catholic Prayer Breakfast, held virtually this year.“Today I am announcing that I will be signing the ‘born alive’ executive order to ensure that all precious babies born alive—no matter their circumstances—receive the medical care that they deserve,” the president said. “This is our sacrosanct moral duty.”In 2002, President George W. Bush signed into law a bill extending legal protection to infants born alive at any stage of development, including after an abortion. The law, however, lacked enforcement provisions.Legislation called the Born-Alive Abortion Survivors Protection Act, considered in 2019 and again in 2020, would include criminal consequences for health care providers who violate the 2002 law. It also would require that proper medical care be given by the health care practitioner present if an infant is born alive.READ MORE: https://www.dailysignal.com/2020/09/23/trump-to-sign-born-alive-executive-order-to-protect-abortion-survivors/last_img read more


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first_img The 30-year-old’s strike in the fourth round tie was his 243rd goal for United and moved him to within six of another of Charlton’s long-standing records. Charlton’s figure of 249 has stood since 1973 and Rooney said: “Of course I’m aware of it. “Like the England record, when I was getting closer, it kept getting mentioned every week so that will probably start again with every goal. “But it’s great to be mentioned again alongside Bobby’s record and hopefully before the end of the season I can go past that and then kick on again.” Anthony Martial seemed to benefit most from the freedom the United captain refers to. The young Frenchman was a constant threat to Derby and laid on the goals for Rooney and Mata – earning praise from Van Gaal, who called his performance “fabulous”. Michael Carrick and Marouane Fellaini agreed with their manager’s assessment of the 20-year-old. “He’s showed what he’s got from day one to be honest, since his debut,” said Carrick, who returned from a four-match absence with a knee injury as a 74th-minute substitute at Derby. “We’ve got to realise how young he is and we can’t expect everything all the time but when he’s playing like that he’s pretty much unplayable, so it’s nice to have him.” Fellaini thinks Martial has the potential to become a star at United. He said: ” He has a lot of quality. He can dribble and is always dangerous. He is young but you have to keep going and learn every day and he will be a good player. “He must keep trying hard and keep going. Next season will be more difficult because the league will know him but I think he has the quality to be a success.” The United manager was booed following the 1-0 defeat by Southampton in the Barclays Premier League but Rooney, Daley Blind and Juan Mata eased the pressure with the goals in the 3-1 win over Derby in the FA Cup fourth round on Friday. After the game Rooney said the players had to take their fair share of the blame for a season which so far has them in danger of missing out on qualification for the Champions League. Wayne Rooney says Manchester United’s players should take the blame for their less than attractive style of play rather than under-fire manager Louis van Gaal. “It’s unfair to say it’s down to the manager – we’re on the pitch. So the players have to take a lot of responsibility for performances and results,” Rooney told several national newspapers. “We have to stand up and take criticism when it’s there. We want to win, of course we always want to win, and we’re trying. “Even when you’re giving 100 per cent, it doesn’t always come off and thankfully it did in our last match.” Following the FA Cup win, where his opening goal at the iPro Stadium had been cancelled out by George Thorne, Rooney added: ” It was obviously a better performance than last week’s game but the manager gave us a lot of freedom to go and play – and I think you can see the difference in the team. You can see we were enjoying it, scoring some good goals and thoroughly deserved to win “So hopefully we can put in another performance like this again on Tuesday and take it into the game against Stoke.” The United captain has also set his sights on breaking a second of Sir Bobby Charlton’s goalscoring records this season. Rooney became England’s all-time leading scorer in September when he tucked away a penalty in a 2-0 win against Switzerland at Wembley – his 50th goal for his country. And he has begun 2016 with a bang, scoring six goals in United’s six matches so far this year. Press Associationlast_img read more


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first_imgSo I tried a filter… A Miami plastic surgeon says he is seeing signs of what he calls ‘Snapchat Dysmorphia,’ in which people try to alter their appearance to match what they look like through Snapchat filters. ‘Snapchat dysmorphia’ is a term now used for people who are fixated on looking like their filtered pictures; and willing to pay for procedures to achieve the look by taking the augmented reality of social media into the doctor’s office. Miami plastic surgeon Dr. Nirmal Nathan calls it all a growing trend.Dr. Nathan says some patients have unreasonable expectations for what they should look like, including patients who wanted their nose to look like a dog’s snout. last_img