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The Great Recession: The downturn that wouldn’t end
The Great Recession ended 10 years ago, but University of Rochester economist Narayana Kocherlakota says it is still very much with us. David Primo, associate professor of political science and business administration, agrees that the country continues to feel the effects of the recession, though his take differs from Kocherlakota’s. And Lisa Kahn, a professor of economics at the University of Rochester, sees another lasting effect from the Great Recession. “Unemployment is very low right now, leading people to think that we’ve recovered,” says Kocherlakota. “Income levels, however, are now as much as 15 percent below where they might have been, if not for the recession.” Many economists blame the income slowdown on a natural decrease in the rate at which new ideas are discovered. But Kocherlakota, former president of the Federal Reserve Bank of Minneapolis, attributes it to something else. “Businesses don’t want to lock up money in physical investments because they’re nervous about another Great Recession,” he says. “That’s why there’s less innovation, and that’s why we have an income slowdown.” The Great Recession began in December 2007 after the bottom fell out of the US housing market. That was followed by a shortage of assets in the financial markets and the collapse of the financial sector, including banks, credit card companies, and insurance companies. The recession, the worst in the US since the Great Depression of the 1930s, officially lasted through June 2009, though unemployment levels didn’t peak until October of that year. According to Primo, the losers were homeowners, among others. The banks, which many observers say bear some responsibility for the recession, were bailed out by the government, while homeowners were not. That perceived double standard has led to the Occupy Movement, support for Democratic presidential candidate Bernie Sanders, and the election of Donald Trump, according to Primo. “Economists may be 100 percent correct in saying it was necessary to bail out the banks,” says Primo. “But that’s a difficult political argument to hear if you lost your house, while banks were bailed out.” Says Kahn: “Many firms take the opportunity provided by a recession to introduce technologies that reduce their reliance on workers. In the old days, we had bank tellers giving out money; now machines can do that,” she says. “In manufacturing, we’re shifting more and more to machines instead of workers. And a lot of that shift takes place during recessions.” Kahn points out that wages and employment have been falling for the last 30 years in exactly the types of jobs that are increasingly performed by machines. Kahn identifies an additional recession-related phenomenon, one that specifically targets college graduates. “It has always been bad to graduate during a recession,” says Kahn. “But the lost earnings from the Great Recession are much larger than they were in previous downturns, and it’s something that will stay with them long term.” Not only are fewer jobs available, the graduates find themselves competing against experienced workers who had recently been laid off. The net result is persistently lower wages.
D. Tyler McQuade, Ph.D., professor in the Department of Chemical and Life Science Engineering at Virginia Commonwealth University College of Engineering, is principal investigator of a multi-university project seeking to use artificial intelligence to help scientists come up with the perfect molecule for everything from a better shampoo to coatings on advanced microchips. The project is one of the first in the U.S. to be selected for $994,433 in funding as part of a new pilot project of the National Science Foundation (NSF) called the Convergence Accelerator (C-Accel). McQuade and his collaborators will pitch their prototype in March 2020 in a bid for additional funding of up to $5 million over five years. Adam Luxon, a Ph.D. student in the Department of Chemical and Life Science Engineering who has been involved from the beginning, explained it this way: “We want to essentially make the Alexa of chemistry.” Just as Amazon, Google and Netflix use data algorithms to suggest customized predictions, the team plans to build a platform and open knowledge network that can combine and help users make sense of molecular sciences data pulled from a wide range of sources including academia, industry and government. The idea is right in line with the goal of the NSF program: to speed up the transition of convergence research into practice in nationally critical areas such as “Harnessing the Data Revolution.” The team itself reflects expertise across several specialties. Working with McQuade are James K. Ferri, Ph.D., professor in the Department of Chemical and Life Science Engineering; Carol A. Parish, Ph.D., professor of chemistry and the Floyd D. and Elisabeth S. Gottwald Chair in the Department of Chemistry at the University of Richmond; and Adrian E. Roitberg, Ph.D., professor in the Department of Chemistry at University of Florida. Two companies are also involved with the project: Two Six Labs, based in Arlington, Virginia, and Fathom Information Design, based in Boston, Massachusetts. Currently, there is no shared network or central portal where molecular scientists and engineers can harness artificial intelligence and data science tools to build models to support their needs. What’s more, while scientists have been able to depict what elements make up a molecule, how the atoms are arranged in space and what the properties of that molecule are (such as its melting point), there is no standard way to represent — or predict — molecular performance. The team aims to fill these gaps by advancing the concept of a “molecular imprint.” The collaborators will create a new system that represents molecules by combining line-drawing, geometry and quantum chemical calculations into a single, machine-learnable format. They will develop a central platform for collecting data, creating these molecular imprints and developing algorithms for mining the data, and will develop machine learning tools to create performance prediction models. Parish said, “The ability to compute molecular properties using computational techniques, and to dovetail that data with experimental measurements, will generate databases that will produce the most comprehensive results in the molecular sciences. “There are many laboratories around the world working in this space; however, there are few organizational structures available that encourage open sharing of these data for the benefit of the community and the common good. We seek to collaborate with others to provide this structure; an open knowledge network or repository where scientists can deposit their molecular-level experimental and computational data in exchange for user-friendly tools to help manage and query the data.” The initial response to their idea has been strong from potential partners. Ferri and the others have already collected more than a dozen letters from major corporations such as Dow and Merck expressing interest in participating. Also on board are Idaho National Laboratory and Argonne National Laboratory, as well as national chemical engineering and chemistry organizations. McQuade said that chemical engineers in major industries including consumer products and oil and gas producers expend a lot of effort running experiments to determine the molecule they want to use, such as finding the best shampoo additive that doesn’t make babies cry. “The ability to design the properties you want is still more art than science.” The team also plans to develop a toolkit for processing and visualizing the data. Roitberg, whose research focuses include advanced visualization, said this could take the form of a virtual reality realm in which a user could find materials that are soluble in water but not oil, for instance, and then be able to browse for similar materials nearby. “We envision a very interactive platform where the user can explore relations between data and desired material properties,” he said.
Alphabet And Fitbit: Could This Be the Competition the Wearables Segment Has Been Waiting For?
If Google can use FitBit to dominate the wearables market as they did with the android operating system for smartphones, the acquisition could make sense. Of course, the major player in this market is Apple. Circuit Seed for configurable analog in scalable digital and CoreLogika for hyperspeed logic computing are technologies that could lead to a significant improvement in performance over the Apple watch. These technologies are built using the Complementary Current-Injection Field-Effect Transistor (CiFET). This configurable platform uses the ratio of the source and drain channels to meet specific performance requirements for each application. The circuits are less complex, linear without correction circuitry, and much smaller using a fraction of the power consumption of similar components. They generate less heat and operate over a wide temperature range - improving the performance, sensitivity and reliability of the circuits. This results in longer battery life and more accurate measurements, making them suitable for monitoring applications for physical activity and health. Alphabet already has a health science division that will be an important asset. If the acquisition is successful, we expect to see an android smart phone integration with Fitbit that could extend the monitoring, data collection and analysis capabilities. The simplicity of Circuit Seed makes the RF connectivity an easy task to complete. For more information, please contact: Lesley Gent Director Client Relations, InventionShare™ lgent@InventionShare.com (613) 225-7236, Ext 131 Or visit our website at www.CircuitSeed.com
The Democratic field has narrowed substantially from the summer, but from the initial offering of more than two dozen candidates, each vying to be the one to face off with Donald Trump next November – there’s still a lot of winnowing to be done. And with 12 candidates taking the stage in Westville, Ohio the expectations will be high for everyone. How many candidates need to accept reality and abandon the race? Is a field this large hindering DNC chances at victory in 2020? What will it take to strive up the polls and survive for another day on the hustings? And of the prominent candidates – who is on the bubble and who needs to land a knockout punch to emerge as the true frontrunner? There will be a lot of speculation, coverage and punditry leading up to this debate – and that’s where our experts can help. Dr. Stephen Farnsworth is professor of political science and international affairs at the University of Mary Washington. A published author and a media ‘go-to’ on U.S. politics, he is available to speak with media regarding this topic. Simply click on his icon to arrange an interview. Dr. Rosalyn Cooperman, associate professor of political science at the University of Mary Washington and member of Gender Watch 2018, is an expert on women in politics. She is available to speak with media regarding this topic – simply click on her icon to arrange an interview. Both experts are available to speak with media regarding the upcoming debate - simply click on either icon to arrange an interview.
Experts available to discuss vaping and new tobacco products
A host of new tobacco products, including e-cigarettes like JUULs, have entered the market in recent years, bringing new public health concerns with them. Researchers at the University of North Carolina at Chapel Hill are studying the health and societal impacts of emerging tobacco products. UNC-Chapel Hill experts are available to discuss topics including e-cigarettes’ health impacts, their failure as smoking cessation tools, the differences in how smoking and vaping affect the body, and e-cigarette explosions and the resulting chemical burn injuries. If you’d like to speak with an expert, call (919) 445-8555 or email mediarelations@unc.edu. Dr. M. Bradley Drummond is an associate professor of medicine at UNC School of Medicine and the director of the Obstructive Lung Diseases Clinical and Translational Research Center. He can discuss the health consequences of these new tobacco products and how they vary from traditional cigarettes. He can also discuss how these products exacerbate other conditions like chronic obstructive pulmonary disease, asthma and other chronic lung diseases. Dr. Adam Goldstein is a professor in the UNC department of family medicine, the director of tobacco intervention programs at UNC School of Medicine, and a member of UNC Lineberger Comprehensive Cancer Center. He can discuss the potential drawbacks versus any potential benefit of using these products as smoking cessation tools and can share evidence-based strategies to stop smoking. He can also speak to trends in teen tobacco use. Dr. Ilona Jaspers is a professor of pediatrics and microbiology & immunology, director of the Curriculum in Toxicology, and deputy director of the Center for Environmental Medicine, Asthma and Lung Biology all at the UNC School of Medicine, and professor of Environmental Sciences and Engineering at the UNC Gillings School of Global Public Health. She can discuss the current scientific understanding of the health effects of vaping or juuling, a subject on which she has published widely. Kurt Ribisl is a professor and chair of the department of health behavior at UNC Gillings School of Global Public Health and the program leader for Cancer Prevention and Control at UNC Lineberger Comprehensive Cancer Center. Ribisl specializes in tobacco policy and regulation and can speak to taxation, advertising and marketing of new tobacco products and recommendations for preventing youth access. Robert Tarran is a professor of cell biology and physiology at UNC School of Medicine, a member of UNC Marsico Lung Institute, and a member of UNC Lineberger Comprehensive Cancer Center. He can discuss the science of vaping, including how e-cigarettes impact a person’s lungs, including their genes and what happens to the lung’s immune system. He can also speak to the varying toxic effects of different e-cigarette flavors. Rebecca Williams is a research associate at UNC Lineberger Comprehensive Cancer Center. She is a leading expert on internet tobacco sales, age verification, technology and emerging tobacco products, including the wide variety of vaping devices available today. Her research has shown that online e-cigarette vendors routinely sold to minors, a finding that underscores the need for regulations requiring and enforcing age verification for the online sale of e-cigarettes. She can discuss the sales and marketing practices of websites that sell emerging tobacco products, and underage access to these online products.
Responding to increased pressure, Facebook has "doubled down" on identifying and removing posts by online extremists and the groups they use to share content. As noted in a recent NBC News article, these increased efforts include using artificial intelligence and machine learning to proactively identify and remove posts and groups that break the rules, and promoting tools that would hold group administrators more accountable for posted content." Megan Squire is a professor of computer science who has conducted extensive research tracking connections between online hate groups and how they leverage social media platforms to recruit new members and spread propaganda. Squire told NBC News that she's skeptical that even these more high-tech efforts will meaningfully curtail the activity of online extremists. “Same stuff, different day,” Squire told NBC News. “Just in the past month, I reported groups calling for a global purge of Islam, extermination of people based on religion, and calling for violence through a race war, and Facebook’s response was that none of these groups was a violation of community standards.” If Dr. Squire can assist with your reporting about social media and online extremism, please reach out to Owen Covington, director of the Elon University News Bureau, at ocovington@elon.edu or (336) 278-7413. Dr. Squire is available for phone, email and broadcast interviews.
Covering Climate Change? Let Our Experts Help with Your Coverage
It took a long time, but climate change is part of everyday life. It is now part of the constant news cycle, it is used in shaping public policy, incorporated into marketing plans and owns a part of (most) political party platforms. Climate activism is growing as well. One year ago, 16-year-old Greta Thunberg skipped school to sit in front of Swedish Parliament to protest our climate. Today, those same one-day strikes inspired by her take place in over 800 cities across the planet. Climate change is real and with any growing topic or cause, there’s also a lot of misinformation shared, and some facts just aren’t being interpreted correctly. If you’re a journalist covering climate change – that’s where our experts can help with your questions, stories and ongoing coverage. Dr. Pamela Grothe is an assistant professor in the Department of Earth and Environmental Sciences as the University of Mary Washington. She recently completed a Ph.D. in the Paleoclimatology Lab at the Earth and Atmospheric Sciences department at Georgia Institute of Technology. She’s an #expert in climate change and is available to speak with media – simply click on her icon to arrange an interview.
Until now, it seemed no scandal could stick to President Donald Trump. But after a whistleblower came forward after an awkward conversation between President Trump and Ukrainian President Volodymyr Zelenskiy – it seems Trump may have finally crossed the line. His request for an investigation by a foreign power into a political, opponent may have been illegal. Trump repeatedly Ukrainian President Volodymyr Zelenskiy to work with Attorney General William Barr and Rudy Giuliani, Trump’s personal lawyer. At one point in the conversation, Trump said, “I would like for you to do us a favor.” The president’s words set the parameters for the debate to come — just the fourth impeachment investigation of an American president in the nation’s history. The initial response highlighted the deep divide between the two parties: Democrats said the call amounted to a “shakedown” of a foreign leader, while Trump — backed by the vast majority of Republicans — dismissed it as a “nothing call.”… Pelosi announced the impeachment probe on Tuesday after months of resistance to a process she has warned would be divisive for the country and risky for her party. But after viewing the transcript on Wednesday, Pelosi declared: Congress must act.” September 25 – Associated Press This will only be the fourth time in history an impeachment investigation has taken place - and odds are it will dominate the Washington scene for months. But there are a lot of questions to be asked: How long will this take? What does it take to actually succeed? If Trump is impeached by Congress – will the Senate follow? Could he actually be removed from office? And, is this a risk for Democrats who could feed into the Trump narrative of another failed attempt at a witch hunt? There are a lot of questions and that’s where our experts can help. Dr. Stephen Farnsworth is professor of political science and international affairs at the University of Mary Washington. A published author and a media ‘go-to’ on U.S. politics, he is available to speak with media regarding this topic. Simply click on his icon to arrange an interview.
Analyzing U.K. Supreme Court Ruling
The Supreme Court of the United Kingdom ruled that Prime Minister Boris Johnson illegally suspended Parliament, putting lawmakers back in session to debate Brexit. Villanova political science professor Catherine Warrick, PhD, says that, while the circumstances are unusual, the court has acted in defense of the constitution and the rule of law by protecting Parliament's powers. She notes there are two key factors in the court's ruling. "First, the ruling wasn't about Brexit itself. The Supreme Court made it clear that their decision was about the limited question of the power to prorogue Parliament—and was taken on the basis of constitutional principles, not political questions. Interestingly, the government had claimed (implausibly) that the prorogation was not about Brexit at all, but now that it has been ruled illegal, a lot of conservative commentators are suddenly depicting the decision as an attempt to derail Brexit. Bit of trying to have it both ways there. "Second, there seems to be a lot of commentary on social media claiming that the court said that the prime minister lied to or misled Queen Elizabeth in order to get her to agree to prorogation. This isn't really true—the inference can be drawn that Johnson behaved dishonestly, but I don't think the Court said so outright."
Can Understanding the History of Drug Addiction Help Address the Opioid Epidemic?
According to the National Institute on Drug Abuse, more than 130 people die every day after overdosing on opioids. Lives have been lost, families shattered, and billions spent as experts, elected leaders, health care professionals, and law enforcement officials try to address the country's opioid epidemic. A professor at Rensselaer Polytechnic Institute can help shed light on the forces at work in this crisis and its history. Professor Nancy Campbell is an expert is in the history of science, technology, and medicine as it relates to drug policy and the social significance of drugs. She is a professor and head of the Department of Science and Technology Studies (STS) in the School of Humanities, Arts and Social Sciences at Rensselaer Polytechnic Institute. "We found her to be one of the most knowledgeable people on the history of opioids and how that history fits into the context of today’s problem," reporters for CBS 6 News in Albany wrote of Campbell. In a recent interview with the station, Campbell discussed her extensive research on the history of drug addiction, as well as her approach to educating students about it. “I actually want my students to go out of the class, knowing more about where our current opioid epidemic came from, the endemic that it built upon and also knowing more about drug markets and the social aspects,” Campbell said. August 15 – CBS 6 News Are you a reporter covering the opioid crisis and need to know what’s being done and what more needs to be done? Let our experts help with your questions. Campbell is available to speak to media regarding the opioid crisis and the history of drug addiction – simply click on her icon to arrange an interview.
