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Archive for the ‘economics’ category: Page 130

Jun 28, 2018

Transhumanism: Politics of hybridizing humans with robots

Posted by in categories: economics, robotics/AI, singularity, transhumanism

The deadlines set for “singularity” are also seen by some as an attempt to scare and coerce governments into implementing the movement’s social and technological “agenda”. However, when the names of major tech corporations of the world like Google, Nokia and Tesla are associated with the transhumanist ideology, it is difficult to dismiss the premise and prospects of this new revolutionary socio-technological movement.


For several centuries, political movements have emanated from nationalist or religious convictions, socio-political and economic theories or even environmental concerns. However, issues of science and technology have rarely driven mainstream socio-political discourse as scientists have hardly ever indulged in propounding societal constructs for the future.

However, a technology-oriented intellectual movement may soon become the focus of political debate as 21st century science stands at the brink of reshaping human identity itself.

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Jun 26, 2018

Some science journals that claim to peer review papers do not do so

Posted by in categories: business, economics, science

Behind all this is a change in the way a lot of journals make their money. Over the past decade, many have stopped selling subscriptions. Instead, they charge authors a publication fee and permit people to read the result for nothing. This “open access” business model has the advantage of increasing the dissemination of knowledge, but it also risks corrupting the knowledge thus disseminated.


WHETHER to get a promotion or merely a foot in the door, academics have long known that they must publish papers, typically the more the better. Tallying scholarly publications to evaluate their authors has been common since the invention of scientific journals in the 17th century. So, too, has the practice of journal editors asking independent, usually anonymous, experts to scrutinise manuscripts and reject those deemed flawed—a quality-control process now known as peer review. Of late, however, this habit of according importance to papers labelled as “peer reviewed” has become something of a gamble. A rising number of journals that claim to review submissions in this way do not bother to do so. Not coincidentally, this seems to be leading some academics to inflate their publication lists with papers that might not pass such scrutiny.

Experts debate how many journals falsely claim to engage in peer review. Cabells, an analytics firm in Texas, has compiled a blacklist of those which it believes are guilty. According to Kathleen Berryman, who is in charge of this list, the firm employs 65 criteria to determine whether a journal should go on it—though she is reluctant to go into details. Cabells’ list now totals around 8,700 journals, up from a bit over 4,000 a year ago. Another list, which grew to around 12,000 journals, was compiled until recently by Jeffrey Beall, a librarian at the University of Colorado. Using Mr Beall’s list, Bo-Christer Björk, an information scientist at the Hanken School of Economics, in Helsinki, estimates that the number of articles published in questionable journals has ballooned from about 53,000 a year in 2010 to more than 400,000 today. He estimates that 6% of academic papers by researchers in America appear in such journals.

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Jun 24, 2018

Trump’s ‘Space Force’ could fuel a new $1 trillion economy, Morgan Stanley says

Posted by in categories: economics, security, space travel

Space is the next frontier for war.


  • President Donald Trump’s proposed “Space Force” could help fuel the $1 trillion intergalactic economy, Morgan Stanley says.
  • The bank is tracking 100 private companies poised to profit from interstellar industries.

If President Donald Trump successfully organizes his so-called Space Force, it could speed up investment in what Morgan Stanley sees as the next trillion-dollar economy.

In a note to clients Friday, the bank doubled down on its intergalactic thesis from last October, saying the Space Force “could address critical vulnerabilities in national security, raising investor awareness in the formation of what we see as the next trillion-dollar economy.”

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Jun 24, 2018

How Virtual Reality Will Help Shape Our Psychedelic Future

Posted by in categories: 3D printing, augmented reality, economics, education, media & arts, robotics/AI, virtual reality

The famous psychologist Timothy Leary once referred to himself as a “surfer,” envisioning a future where, “[t]o study biology, you can press a button and make yourself part of the human body. You can become a white blood cell and learn about the circulatory system by traveling through an artery. You can call up the Prado Museum in Madrid and study Goya’s paintings.”


When I think about the future, I envision mass technological disruptions across the entire landscape. Artificial intelligence (AI) being embedded into the very fabric of our architecture and institutions, 3D printing transforming our socio-economic system from scarcity to abundance, and virtual reality/augmented reality (VR/AR) unleashing infinite potential in shaping our perceptions of reality.

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Jun 23, 2018

How machine intelligence is remaking the American economy

Posted by in categories: economics, robotics/AI

American companies like Amazon and Netflix are already using artificial intelligence, says data scientist Michael Li, and ones that will not adapt will be left behind. What we need is to expand the discussion and possible regulation of this new technology that is transforming our lives.

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Jun 21, 2018

What will it take for Bitcoin to be widely adopted?

Posted by in categories: bitcoin, cryptocurrencies, economics, finance

Early adopters, speculators and Geeks are never sufficient to bring a new paradigm to market. Mass appeal and adoption of a mechanism that requires education and a change of behavior is never ‘fait accompli’—until it reaches a tipping point. Once at the tipping point, it can go viral without a structured PR campaign and with risks tied only to technology and scalability.

What about early adopters? Can they drive mass adoption?

Somewhat, but not much beyond market awareness. Generally, early adopters drive mass adoption only for evolutionary inventions. For example:

  • The automobile was an evolutionary change to transportation. Although it changed our behavior (maintenance procedures and frequency / distance of travel), it did not require an educational seminar to ride in a car. You either had access to a horse or a car.
  • Likewise, the audio CD and DVD improved media acquisition and enjoyment. But books and seminars were not needed to understand these inventions. Their purpose and use was very similar to the preceding technology: audio tape, records and video recorders.

But some inventions are different. Their use requires that users become acquainted with a technology or process that they didn’t realize they needed! [continue below image]…

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Jun 19, 2018

Will governments ever approve of cryptocurrency?

Posted by in categories: bitcoin, cryptocurrencies, economics, government, internet, policy

The question was asked of me as columnist at Quora.com: Will governments eventually ‘approve’ of cryptocurrency? First let’s agree on terminology…

  1. By “approve”, I assume that you are asking if governments will adopt or at least tolerate the use of crypto as legal tender in commerce. That is, not just as a payment instrument, but as the money itself—perhaps even accepting tax payments in cryptocurrency.
  2. The word “cryptocurrency” is sometimes applied to altcoins and even to ICOs. These are not the same. Many altcoins meet the criteria of the next paragraph, but none of the ICOs measure up (ICOs are scams). I assume that your question applies to Bitcoin or to a fair and transparent altcoin forked from the original code, such as Bitcoin Cash or Litecoin.

A blockchain-based cryptocurrency that is open source, permissionless, capped, fast, frictionless, with a transparent history—and without proprietary or licensing restrictions is good for everyone. It is good for consumers; good for business; and it is even good for government.

Of course, politicians around the world are not quick to realize this. It will take years of experience, education, and policy experimentation.

Many pundits and analysts have the impression that shifting to cryptocurrency—not just as a payment instrument, but as the money itself—will never be supported by national governments. A popular misconception suggests that a cryptocurrency based economy has these undesirable traits:

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Jun 18, 2018

Why a minor change to how EPA makes rules could radically reduce environmental protection

Posted by in categories: economics, government

Since the Reagan administration, federal agencies have been required to produce cost-benefit analyses of their major regulations. These assessments are designed to ensure that regulators are pursuing actions that make society better off.

In my experience working on the White House economic team in the Clinton and Obama administrations, I found cost-benefit provides a solid foundation for understanding the impacts of regulatory proposals. It also generates thoughtful discussion of ways to design rules to maximize net benefits to the public.

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Jun 17, 2018

Foxconn looks to AI after maker of Apple and Amazon products celebrates 30 years in China

Posted by in categories: economics, robotics/AI

That growth in factory worker salaries has been a double-edged sword for China. On one hand, it has increased the purchasing power of Chinese which in turn has powered consumer-led economic growth, but on the other it has made China less competitive on wages and forced companies like Foxconn to introduce more automation.


With 1 million employees and half a dozen factories contributing 4 per cent of the country’s export value, Foxconn’s expansion symbolises China’s role as tech manufacturing powerhouse.

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Jun 16, 2018

The Next Plague Is Coming. Is America Ready?

Posted by in categories: biotech/medical, economics, policy

Yet even the U.S. is disturbingly vulnerable—and in some respects is becoming quickly more so. It depends on a just-in-time medical economy, in which stockpiles are limited and even key items are made to order. Most of the intravenous bags used in the country are manufactured in Puerto Rico, so when Hurricane Maria devastated the island last September, the bags fell in short supply. Some hospitals were forced to inject saline with syringes—and so syringe supplies started runn…ing low too. The most common lifesaving drugs all depend on long supply chains that include India and China—chains that would likely break in a severe pandemic. “Each year, the system gets leaner and leaner,” says Michael Osterholm, the director of the Center for Infectious Disease Research and Policy at the University of Minnesota. “It doesn’t take much of a hiccup anymore to challenge it.”


The epidemics of the early 21st century revealed a world unprepared, even as the risks continue to multiply. Much worse is coming.

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