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Category: economics – Page 96

Almost a year ago, we were told by our governments and healthcare professionals that a two-week shutdown of the economy would “flatten the curve.”

The Chinese Coronavirus (COVID-19) hit American shores — officially, anyway, there is significant evidence that it arrived earlier — in late January 2020. The American public was then told that a two-week shutdown of the economy would “flatten the curve,” relieving the pressure on hospital intensive care units and saving lives in the long run.

The average American, including conservatives, being people of good faith, complied, thinking that this was a common-sense measure that would save lives in the wake of a new and mysterious pandemic.

But two things quickly happened: First, the goalposts moved. No longer was it enough to “flatten the curve.” Now we were to be locked down until there was a cure.

Continue reading “COVID-19 Lockdowns: Liberty and Science” | >

Wistar Institute scientists have designed a new class of antimicrobial compound, which, they claim, uniquely combines direct antibiotic killing of pan drug-resistant pathogenic bacteria, with a simultaneous rapid immune response for combating antimicrobial resistance (AMR). The team claims the dual-acting immuno-antibiotics (DAIA) strategy could represent a “landmark” in the fight against AMR.

“We took a creative, double-pronged strategy to develop new molecules that can kill difficult-to-treat infections while enhancing the natural host immune response,” said Farokh Dotiwala, MBBS, PhD, assistant professor in the Vaccine & Immunotherapy Center and lead author of the team’s work, which is reported in Nature, in a paper titled, “IspH inhibitors kill Gram-negative bacteria and mobilize immune clearance.”

The World Health Organization (WHO) has declared AMR to be one of the top 10 global public health threats against humanity, and it is estimated that by 2050, antibiotic-resistant infections could claim 10 million lives each year and impose a cumulative $100 trillion burden on the global economy. The list of bacteria that are becoming resistant to treatment with all available antibiotic options is growing and few new drugs are in the pipeline, creating a pressing need for new classes of antibiotics to prevent public health crises.

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The process of systems integration (SI) functionally links together infrastructure, computing systems, and applications. SI can allow for economies of scale, streamlined manufacturing, and better efficiency and innovation through combined research and development.

New to the systems integration toolbox are the emergence of transformative technologies and, especially, the growing capability to integrate functions due to exponential advances in computing, data analytics, and material science. These new capabilities are already having a significant impact on creating our future destinies.

The systems integration process has served us well and will continue to do so. But it needs augmenting. We are on the cusp of scientific discovery that often combines the physical with the digital—the Techno-Fusion or merging of technologies. Like Techno-Fusion in music, Techno-Fusion in technologies is really a trend that experiments and transcends traditional ways of integration. Among many, there are five grouping areas that I consider good examples to highlight the changing paradigm. They are: Smart Cities and the Internet of Things (IoT); Artificial Intelligence (AI), Machine Learning (ML), Quantum and Super Computing, and Robotics; Augmented Reality (AR) and Virtual Reality Technologies (VR); Health, Medicine, and Life Sciences Technologies; and Advanced Imaging Science.

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But the MIT report also acknowledges that while fears of an imminent jobs apocalypse have been over-hyped, the way technology has been deployed over recent decades has polarized the economy, with growth in both white-collar work and low-paid service work at the expense of middle-tier occupations like receptionists, clerks, and assembly-line workers.

This is not an inevitable consequence of technological change, though, say the authors. The problem is that the spoils from technology-driven productivity gains have not been shared equally. The report notes that while US productivity has risen 66 percent since 1978, compensation for production workers and those in non-supervisory roles has risen only 10 percent.

“People understand that automation can make the country richer and make them poorer, and that they’re not sharing in those gains,” economist David Autor, a co-chair of the task force, said in a press release. “We need to restore the synergy between rising productivity and improvements in labor market opportunity.”

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Researchers have been studying chloride’s corrosive effects on various materials for decades. Now thanks to high-performance computers at the San Diego Supercomputer Center (SDSC) at UC San Diego and the Texas Advanced Computing Center (TACC), detailed models have been simulated to provide new insight on how chloride leads to corrosion on structrual metals, resulting in economic and environmental impacts.

Conducted by a team from Oregon State University’s (OSU) College of Engineering, a study discussing this newfound information was published in Materials Degradation, a Nature partner journal.

“Steels are the most widely used structural metals in the world and their corrosion has severe economic, environmental, and ,” said study co-author Burkan Isgor, an OSU civil and construction engineering professor. “Understanding the process of how protective passive films break down helps us custom design effective alloys and corrosion inhibitors that can increase the service life of structures that are exposed to chloride attacks.”

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Venezuela’s government is planning to move to a fully digital economy as hyperinflation has made worthless bolivar notes practically disappear, and dollarization expands through the local financial system.

The U.S. dollar has operated as an escape valve for Venezuela amid U.S. sanctions and collapsing oil revenues, President Nicolas Maduro said in a televised interview with Telesur on Friday. He said 18.6% of all commercial transactions are in dollars, while 77.3% are carried out in bolivars with debit cards. Only 3.4% are paid with bolivar notes.

“They have a war against our physical currency. We are moving this year to a more profound digital economy, in expansion. I’ve set the goal of an economy that’s 100% digital,” Maduro said, adding that physical money will eventually disappear.

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