Category : Economy

(CBS) 60 Minutes Interviews Sir David Attenborough, age 95

Anderson Cooper: You were skeptical of– of climate change And I think that’s– that’s interesting, because I think it makes your warnings now all the more powerful.

Sir David Attenborough: Yeah, yeah, certainly so. And if you’re going to make a statement about the world, you better make sure that it isn’t just your own personal reaction. And the only way you can do it, do that, is to see the– the work of scientists around the world who are taking observation as to what’s happening. As to what’s happening to temperature, what’s happening to humidity, what’s happening to radioactivity, and what’s happening ecologically?

Anderson Cooper: You’ve said that– that “climate change is the greatest threat facing the planet for thousands of years.”

Sir David Attenborough: Yes. Even the biggest and most awful things that humanity has done, civili– so-called civilizations have done, pale to significance when you think of what could be around the corner, unless we pull ourselves together.

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Posted in Animals, Climate Change, Weather, Corporations/Corporate Life, Ecology, Energy, Natural Resources, Ethics / Moral Theology, Science & Technology, Stewardship

(NS) Google has mapped a piece of human brain in the most detail ever

Google has helped create the most detailed map yet of the connections within the human brain. It reveals a staggering amount of detail, including patterns of connections between neurons, as well as what may be a new kind of neuron.

The brain map, which is freely available online, includes 50,000 cells, all rendered in three dimensions. They are joined together by hundreds of millions of spidery tendrils, forming 130 million connections called synapses. The data set measures 1.4 petabytes, roughly 700 times the storage capacity of an average modern computer.

The data set is so large that the researchers haven’t studied it in detail, says Viren Jain at Google Research in Mountain View, California. He compares it to the human genome, which is still being explored 20 years after the first drafts were published.

It is the first time we have seen the real structure of such a large piece of the human brain, says Catherine Dulac at Harvard University, who wasn’t involved in the work. “There’s something just a little emotional about it.”

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Posted in Anthropology, Corporations/Corporate Life, Science & Technology

(NYT The Upshot) Workers Are Gaining Leverage Over Employers Right Before Our Eyes

It also means companies thinking more expansively about who is qualified for a job in the first place. That is evident, for example, in the way Alex Lorick, a former South Florida nightclub bouncer, was able to become a mainframe technician at I.B.M.

Mr. Lorick often worked a shift called “devil’s nine to five” — 9 p.m. to 5 a.m. — made all the more brutal when it was interspersed with day shifts. The hours were tough, but the pay was better than in his previous jobs, one at a retirement home and another serving food at a dog track. Yet it was a far cry from the type of work he had dreamed about in high school, when he liked computers and imagined making video games for a living.

As a young adult, he took online classes in web development and programming languages, but encountered a Catch-22 many job seekers know well: Nobody wanted to hire a tech worker without experience, which meant he couldn’t get enough experience to be hired. College wasn’t for him. Hence the devil’s nine to five.

Until late last year, that is. After months on unemployment during the pandemic, he heard from I.B.M., where he had once applied and been rejected for a tech job. It invited him to apply to an apprenticeship program that would pay him to be trained as a mainframe technician. Now 24, he completed his training this month and is beginning hands-on work in what he hopes is the start of a long career.

“This is a way more stable paycheck, and more consistent hours,” Mr. Lorick said. “But the most important thing is that I feel like I’m on a path that makes sense and where I have the opportunity to grow.”

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Posted in America/U.S.A., Anthropology, Corporations/Corporate Life, Economy, Ethics / Moral Theology, Labor/Labor Unions/Labor Market

(WSJ) The Economic Recovery Is Here. It’s Unlike Anything You’ve Seen.

The U.S. economic recovery is unlike any in recent history, powered by consumers with trillions in extra savings, businesses eager to hire and enormous policy support. Businesses and workers are poised to emerge from the downturn with far less permanent damage than occurred after recent recessions, particularly the 2007-09 downturn.

New businesses are popping up at the fastest pace on record. The rate at which workers quit their jobs—a proxy for confidence in the labor market—matches the highest going back at least to 2000. American household debt-service burdens, as a share of after-tax income, are near their lowest levels since 1980, when records began. The Dow Jones Industrial Average is up nearly 18% from its pre-pandemic peak in February 2020. Home prices nationwide are nearly 14% higher since that time.

The speed of the rebound is also triggering turmoil. The shortages of goods, raw materials and labor that typically emerge toward the end of an expansion are cropping up much sooner. Many economists, along with the Federal Reserve, expect the jump in inflation to be temporary, but others worry it could persist even once reopening is complete.

“We’ve never had anything like it—a collapse and then a boom-like pickup,” said Allen Sinai, chief global economist and strategist at Decision Economics, Inc. “It is without historical parallel.”

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Posted in Economy

(Forbes) What Will The New World Of Work Actually Look Like?

The most helpful resource I found in understanding the future of the workplace is a whitepaper produced by the folks at Haworth. Haworth is a privately held furniture company focused on building work environments that help people be their best, whether they’re at the office, at home or at their “third place.”

In their whitepaper, Haworth describes the new world of work as “Work from Anywhere.” They point out that employees are often in the driver’s seat and “they’re naturally drawn to places that make them feel comfortable and productive.” The most salient argument from this whitepaper is that there is no one single answer—no one-size-fits-all approach for companies in the post-pandemic workplace.

According to Marta Wassenaar, “Work from Anywhere is the ecosystem that gives organizations and employees choice in when and where work occurs. This autonomy supports creativity and drives innovation. The flexibility serves as a tool for attraction and retention. The work from anywhere ecosystem certainly has an impact on organization culture and workforce wellbeing, too.”

Employees will split their time among these three work locations. When at the office, people will be working with each other—think collaboration and access to equipment and resources that are not available at home. Meeting centers, video studios, and other places for collaboration, play, broadcasting and engaging will replace walled-in offices and individual workstations. Wassenaar from Haworth adds, “Although collaboration can happen virtually, working together on the same task is better done in person. Virtual teams need to put in more effort, time and intentionality toward developing and maintaining social connections.”

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Posted in * Economics, Politics, Anthropology, Blogging & the Internet, Corporations/Corporate Life, Economy, Ethics / Moral Theology, Labor/Labor Unions/Labor Market, Science & Technology

(Gallup) Seven in 10 U.S. White-Collar Workers Still Working Remotely

Before the Centers for Disease Control and Prevention (CDC) announcement last week that fully vaccinated people can forgo masks in most settings, the majority of U.S. workers reported doing their jobs remotely during the pandemic, including 51% in April. But this varied widely by job type, including 72% of white-collar workers and 14% of blue-collar workers. These rates have been fairly stable since last fall, after declining from their peaks in April 2020, when most schools and non-essential businesses were shuttered.

Gallup’s remote-worker trend is based on data collected each month via web as part of its COVID-19 tracking poll, a nationally representative survey of U.S. adults aged 18 and older, using the probability-based Gallup Panel. Workers are considered remote if they report working from home at least 10% of the time in the past week.

Given the relative stability of remote work over the second half of the pandemic to date — from October 2020 to April 2021 — it is appropriate to use the combined data to analyze aspects of remote work in greater detail. On average during this period, 52% of all workers, including 72% of those in white-collar occupations and 14% in blue-collar occupations, have performed their job all or part of the time from home.

Gallup’s white-collar job category comprises occupations traditionally performed in offices or behind a computer. The blue-collar category includes jobs mainly involving manual work or physical labor. Three job areas — education, healthcare and sales — primarily involve interaction with clients or the public and are harder to categorize using the blue-collar/white-collar definitions. Their orientation to remote work is unique and is discussed below in the context of other specific occupations.

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Posted in * Culture-Watch, America/U.S.A., Anthropology, Corporations/Corporate Life, Labor/Labor Unions/Labor Market, Science & Technology, Sociology

(MIT Technology Review) Is a New Kind of Search Engine on the Horizon?

In 1998 a couple of Stanford graduate students published a paper describing a new kind of search engine: “In this paper, we present Google, a prototype of a large-scale search engine which makes heavy use of the structure present in hypertext. Google is designed to crawl and index the Web efficiently and produce much more satisfying search results than existing systems.”

The key innovation was an algorithm called PageRank, which ranked search results by calculating how relevant they were to a user’s query on the basis of their links to other pages on the web. On the back of PageRank, Google became the gateway to the internet, and Sergey Brin and Larry Page built one of the biggest companies in the world.

Now a team of Google researchers has published a proposal for a radical redesign that throws out the ranking approach and replaces it with a single large AI language model—a future version of BERT or GPT-3. The idea is that instead of searching for information in a vast list of web pages, users would ask questions and have a language model trained on those pages answer them directly. The approach could change not only how search engines work, but how we interact with them.

Many issues with existing language models will need to be fixed first. For a start, these AIs can sometimes generate biased and toxic responses to queries—a problem that researchers at Google and elsewhere have pointed out.

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Posted in Anthropology, Blogging & the Internet, Corporations/Corporate Life, Language, Science & Technology, Theology

(Economist) A ransomware attack on Apple shows the future of cybercrime

Apple is a prominent victim of the booming business of “ransomware” . In its original incarnation, at the start of the 2010s, this involved spreading malicious software to ordinary people’s computers. The software would encrypt pictures, documents and so forth, transforming them into unreadable gibberish. If the victims paid a ransom, the hackers would provide the decryption key necessary to restore the scrambled files—at least, in theory.

These days the practice is more professional. Hackers increasingly focus on big organisations rather than individuals, since firms are more likely to pay larger ransoms. Hospitals, universities and even police forces have been attacked. Besides Apple, REvil claims to have stolen data from Kajima Corporation, a big Japanese construction firm, the government of Fiji, Pierre Fabre, a French pharmaceutical company, and dozens of smaller businesses. And as big organisations usually store back-ups of valuable data, which makes scrambling attacks less damaging, hackers increasingly threaten their victims with leaks instead.

Working out the size of the problem is tricky. Coalition, a firm which provides insurance against cyber-attacks, says ransomware assaults made up 41% of claims in the first half of 2020. (“Funds transfer fraud”, the second-biggest category, accounted for 27%). According to Palo Alto Networks, a cyber-security company,the average ransom demand rose from $115,000 in 2019 to $312,000 in 2020.

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Posted in Blogging & the Internet, Corporations/Corporate Life, Ethics / Moral Theology, Law & Legal Issues, Science & Technology

(Guardian) How the Colonial Pipeline hack is part of a growing ransomware trend in the US

The wider American public was afforded an unwanted glimpse into the Wild West world of ransomware this week, after a cyber attack crippled Colonial Pipeline, causing fuel shortages across the eastern seaboard and states of emergency to be declared in four states.

But experts warn that ransomware attacks – which are part-ransom, part-blackmail, part-invocation of squatters’ rights – are becoming more frequent, while the mostly Russia-based hackers are growing more sophisticated with their methods.

They have hit solar power firms, federal and local government agencies, water treatment plants and even police departments across the US. As the nation’s eyes were focused on the pipeline attack this week, another hacker group was busy targeting Washington DC police – striking at law enforcement in the American capital.

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Posted in America/U.S.A., Corporations/Corporate Life, Economy, Ethics / Moral Theology, Law & Legal Issues, Science & Technology

(FT) US employers struggle to find willing workers after pandemic year

Franchise owners of the convenience store chain 7-Eleven begged the company not to force them to return to round-the-clock operations because they could not find anyone to work night shifts. Managers at a short-staffed McDonald’s in Texas placed a sign on its drive-through menu asking for patience because “nobody wants to work any more”, making the restaurant famous on TikTok.

Breakfast cereal maker Post Holdings said a shortage of workers has caused severe production delays. On Monday, Donnie King, chief operating officer at Tyson Foods, the largest US meat processor, said “it’s been taking us about six days to do five days’ worth of work because of turnover and absenteeism” at its pork plants, which were among the worst-hit in the initial months of the pandemic.

The National Federation of Independent Business, a small business group, said that 42 per cent of small business owners say they cannot fill roles. Among them is Matt Glassman, who owns the Greyhound Bar & Grill in Los Angeles.

Two weeks before reopening, Glassman scheduled 15 interviews to hire kitchen staff. But a dozen candidates did not show up, he said. Of the three who did, one was “completely wrong for the job” and another quit on the first day, leaving him with only one hire.

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Posted in Economy, Labor/Labor Unions/Labor Market

(Washington Post) ‘It’s pretty marginal’: Experts say Biden’s vaccine waiver proposal unlikely to boost supply quickly

“There is no mRNA manufacturing capacity in the world — this is a new technology,” [Moderna CEO Stéphane] Bancel added. “You cannot go hire people who know how to make mRNA. Those people don’t exist. And then even if all those things were available, whoever wants to do mRNA vaccines will have to, you know, buy the machine, invent the manufacturing process, invent creation processes and ethical processes, and then they will have to go run a clinical trial, get the data, get the product approved and scale manufacturing. This doesn’t happen in six or 12 or 18 months.”

Several officials involved in the U.S. coronavirus response said they worried the decision would damage their relationship with the drug industry, noting the Biden administration is relying on it not just to boost vaccine supply but also to devise additional coronavirus treatments and vaccines, particularly given the risk of variants.

“We’re all counting on pharma to come up with vaccine booster shots, and what happens when we try to get to the front of the line?” said one official, speaking on the condition of anonymity because they were not authorized to publicly comment.

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Posted in * Economics, Politics, Corporations/Corporate Life, Drugs/Drug Addiction, Ethics / Moral Theology, Foreign Relations, Globalization, Health & Medicine, Law & Legal Issues, Politics in General, Science & Technology

(ABC) Thursday Encouragement–A Beloved Oklahoma cafeteria worker becomes a US citizen

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Posted in America/U.S.A., Children, Dieting/Food/Nutrition, Education, Labor/Labor Unions/Labor Market

(Bloomberg Green) Up to 20 Percent of Groundwater Wells Are in Danger of Running Dry

As many as one in five wells worldwide is at risk of running dry if groundwater levels drop by even a few meters, according to a new study appearing Thursday in the journal Science.

Wells supply water for half the world’s irrigated agriculture, as well as drinking water to billions of people. But the aquifers that wells draw from have been imperiled in recent years as intense demand and lack of government management have allowed them to be drained. The scale of the threat has been difficult to calibrate, however, especially at a global level.

Researchers at the University of California, Santa Barbara produced their analysis by compiling construction records for almost 39 million groundwater wells in 40 countries, including their locations, depths, purposes, and construction dates. They found that between 6% and 20% are no more than 5 meters deeper than their local water tables, “suggesting that millions of wells are at risk of drying up if groundwater levels decline by only a few meters,” the authors wrote.

One solution when wells run dry is to dig deeper, but that often leads to poor water quality, according to the researchers. Well construction is also expensive, meaning that digging deeper isn’t always an option.

Global warming and sea level rise due to climate change are also contributing to the problem.

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Posted in Consumer/consumer spending, Corporations/Corporate Life, Ecology, Economy, Energy, Natural Resources, Ethics / Moral Theology, Science & Technology

(Fortune) Adoption of work from home will lift productivity by 5% in the U.S., according to new study

The great work-from-home experiment occasioned by the pandemic has divided opinion in the corporate suite and sparked endless debates about whether employees work as effectively from the kitchen table as they do from the office.

A new study finds that, in fact, remote work does indeed make us more productive.

The work-from-home boom will lift productivity in the U.S. economy by 5%, mostly because of savings in commuting time, the study says. The findings suggest the rapid adoption of new technology amid the pandemic will offer lasting economic gains, helping to boost sluggish productivity that has long weighed on global growth.

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Posted in Labor/Labor Unions/Labor Market

(Wash Post) Burned out by the pandemic, 3 in 10 health-care workers consider leaving the profession

The doctor’s bag now sits in his closet gathering dust. He lost his stethoscope somewhere in the house — a familiar weight that sat on his neck for two decades.

It’s been months since Justin Meschler, 48, practiced medicine. And he wonders if he ever will again.

He quit his job as an anesthesiologist during the pandemic last spring when fear began seeping into every part of his life. And what began as a few months off has now turned into something much longer.

“I feel guilty for leaving. I think about the others who stayed on. I think about the patients I could have helped. I feel like I abandoned them,” Meschler said. “But mostly, I feel relieved.”

A year into the pandemic, many others are joining Meschler at the door — an exodus fueled by burnout, trauma and disillusionment. According to a Washington Post-Kaiser Family Foundation poll, roughly 3 in 10 health-care workers have weighed leaving their profession. More than half are burned out. And about 6 in 10 say stress from the pandemic has harmed their mental health.

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Posted in Health & Medicine, Labor/Labor Unions/Labor Market

(RNS) Likes and prayers: Facebook tests new ‘prayer post’ feature

When the unfamiliar pop-up touting a new feature appeared on Robert P. Jones’ Facebook, the CEO and founder the CEO and founder of PRRI (Public Religion Research Institute) posted a screen grab to Twitter.

“Wondering what fb algorithm thinks it knows about me?” Jones mused.

The new Facebook feature? Prayer posts. The function will allow members of Facebook groups to ask for and respond to prayer requests.

A Facebook spokesperson confirmed to Religion News Service that the social media platform is currently testing the prayer post feature.

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Posted in --Social Networking, Blogging & the Internet, Corporations/Corporate Life, Religion & Culture, Science & Technology, Spirituality/Prayer

(PS) Kenneth Rogoff–The Dollar’s Fragile Hegemony

The mighty US dollar continues to reign supreme in global markets. But the greenback’s dominance may well be more fragile than it appears, because expected future changes in China’s exchange-rate regime are likely to trigger a significant shift in the international monetary order.

For many reasons, the Chinese authorities will probably someday stop pegging the renminbi to a basket of currencies, and shift to a modern inflation-targeting regime under which they allow the exchange rate to fluctuate much more freely, especially against the dollar. When that happens, expect most of Asia to follow China. In due time, the dollar, currently the anchor currency for roughly two-thirds of world GDP, could lose nearly half its weight.

Considering how much the United States relies on the dollar’s special status – or what then-French Finance Minister Valéry Giscard d’Estaing famously called America’s “exorbitant privilege” – to fund massive public and private borrowing, the impact of such a shift could be significant. Given that the US has been aggressively using deficit financing to combat the economic ravages of COVID-19, the sustainability of its debt might be called into question.

The long-standing argument for a more flexible Chinese currency is that China is simply too big to let its economy dance to the US Federal Reserve’s tune, even if Chinese capital controls provide some measure of insulation. China’s GDP (measured at international prices) surpassed that of the US back in 2014 and is still growing far faster than the US and Europe, making the case for greater exchange-rate flexibility increasingly compelling.

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Posted in America/U.S.A., China, Currency Markets, Foreign Relations, Globalization, Politics in General

(WSJ) U.S. Households Primed to Boost Spending After Brief Lull

Cold weather—including storms that shut down sections of Texas and other states—prevented many people from dining out, ordering food online or going to stores last month. Household incomes also likely fell from abnormally high levels in January, when the government distributed stimulus checks of up to $600 a person in most households under a $900 billion economic-relief plan approved by Congress late last year. That law also provided enhanced employment benefits of $300 a week for jobless workers.

A spending surge is likely in the offing. Millions of people each day are getting a Covid-19 vaccine, and many are starting to venture out in public and shop and travel. Meanwhile, the federal government this month is sending out yet another round of stimulus money—this time checks of up to $1,400, a part of another Covid-19 relief package worth $1.9 trillion signed by President Biden. The aid—along with other measures by lenders and landlords to suspend consumers’ monthly payments on debt during the pandemic—has left many households sitting on a pile of cash.

That combo—higher incomes and a rising number of people shielded from the worse effects of the deadly virus—is expected to unleash a burst of economic activity in coming weeks, as many Americans resume activities they have put off for a year.

“When they’re let out of the house, there is some pent-up demand, and they’re going to go out into the restaurants” as well as travel and shop, said Lindsey Piegza, chief economist at Stifel Nicolaus & Co.

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Posted in America/U.S.A., Consumer/consumer spending, Economy, Health & Medicine

(CNBC) Amsterdam bet its post-Covid recovery on ‘doughnut’ economics — more cities are now following suit

More and more cities are embracing a doughnut-shaped economic model to help recover from the coronavirus crisis and reduce exposure to future shocks.

British economist and author of “Doughnut Economics” Kate Raworth believes it is simply a matter of time before the concept is adopted at a national level.

The Dutch capital of Amsterdam became the first city worldwide to formally implement doughnut economics in early April last year, choosing to launch the initiative at a time when the country had one of the world’s highest mortality rates from the coronavirus pandemic.

Amsterdam’s city government said at the time that it hoped to recover from the crisis and avoid future crises by embracing a city portrait of the doughnut theory.

As outlined in Raworth’s 2017 book, doughnut economics aims to “act as a compass for human progress,” turning last century’s degenerative economy into this century’s regenerative one.

“The compass is a doughnut, the kind with a hole in the middle. Ridiculous though that sounds, it is the only doughnut that actually turns out to be good for us,” Raworth told CNBC via telephone.

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Posted in City Government, Ecology, Economy, Ethics / Moral Theology, The Netherlands, Urban/City Life and Issues

A Reflection on Saint Joseph the Worker for his Feast Day

ZENIT spoke with Father Tarcisio Giuseppe Stramare of the Congregation of Oblates of Saint Joseph, director of the Josephite Movement, about Tuesday’s feast of St. Joseph the Worker….

ZENIT: What does “Gospel of work” mean?

Father Stramare: “Gospel” is the Good News that refers to Jesus, the Savior of humanity. Well, despite the fact that in general we see Jesus as someone who teaches and does miracles, he was so identified with work that in his time he was regarded as “the son of the carpenter,” namely, an artisan himself. Among many possible activities, the Wisdom of God chose for Jesus manual work, entrusted the education of his Son not to the school of the learned but to a humble artisan, namely, St. Joseph.

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Posted in Anthropology, Church History, Labor/Labor Unions/Labor Market, Theology

(PD) The Censorship of Lawrence Ferlinghetti and the Unbooking of Ryan T. Anderson

Unperson: “A public figure, especially in a totalitarian country, who, for political or ideological reasons, is not recognized or mentioned in government publications or records or in the news media. A person accorded no recognition or consideration by another or by a specific group. . . . Introduced in George Orwell’s novel 1984 (1949)”—Dictionary.com

It seems somehow fitting that the great beat poet and artist Lawrence Ferlinghetti, departed this mortal realm (at the age of 101) on February 22, 2021, the day after Amazon.com digitally unbooked When Harry Became Sally. Authored by Ryan T. Anderson, president of the Ethics and Public Policy Center and founder of Public Discourse, When Harry Became Sally offers a critical assessment of the transgender movement.

Anderson is an honest and careful scholar, one who makes a real effort to understand his opponents’ arguments and answer them with charity and rigor. Anderson’s views are not in ascendancy among elites these days, as is evident by the vitriol hurled at him by activists as soon as When Harry Became Sally was published. These critics, I am afraid to say, are not at all interested in debate, discussion, or a careful sifting through the evidence and arguments. What they seek is absolute unquestioned conformity to their views, policed by roving cyberspace inquisitors whose mission is to extract confessions from their targets and to inculcate in them the habit of unforgiving social justice scrupulosity. This is not to say that Anderson does not have some serious academic critics who raise penetrating questions about the quality of his sources, the strength of his arguments, and the nature of his project. Here I am thinking of two critical reviews that appeared in the Journal of Medical Humanities and Studies in Christian Ethics.

But that’s all the more reason why Amazon’s removal of Anderson’s book from its catalog is so pernicious: it marginalizes from the public conversation an intelligent and informed voice that should be confronted and taken seriously by those who disagree with him. As my esteemed Baylor colleague, Alan Jacobs, points out:

The censors at Amazon clearly believe there is only one reason to read a book. You read a book because you agree with it and want it to confirm what you already believe. Imagine, for instance, a transgender activist who wants to understand the position held by Ryan Anderson and people like him in order better to refute it. That person can’t get a copy of the book through Amazon any more than a sympathetic reader like me can.

What does all this have to do with Ferlinghetti? More than you may think. Founder of the small press City Lights Books, he published in late 1956 Howl and Other Poems, authored by the beat poet Allen Ginsberg. Soon after the book was published, Ferlinghetti was arrested on obscenity charges. The reason? The book’s poems included lines that contained graphic descriptions of sex acts, and thus, the government reasoned, it was legally obscene.

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Posted in Anthropology, Books, Corporations/Corporate Life, Ethics / Moral Theology, History

(Wired) The Secret Auction That Set Off the Race for AI Supremacy

Two months earlier, Hinton and his students had changed the way machines saw the world. They built what was called a neural network, a mathematical system modeled on the web of neurons in the brain, and it could identify common objects—like flowers, dogs, and cars—with an accuracy that had previously seemed impossible. As Hinton and his students showed, a neural network could learn this very human skill by analyzing vast amounts of data. He called this “deep learning,” and its potential was enormous. It promised to transform not just computer vision but everything from talking digital assistants to driverless cars to drug discovery.

The idea of a neural network dated back to the 1950s, but the early pioneers had never gotten it working as well as they’d hoped. By the new millennium, most researchers had given up on the idea, convinced it was a technological dead end and bewildered by the 50-​year-​old conceit that these mathematical systems somehow mimicked the human brain. When submitting research papers to academic journals, those who still explored the technology would often disguise it as something else, replacing the words “neural network” with language less likely to offend their fellow scientists.

Hinton remained one of the few who believed it would one day fulfill its promise, delivering machines that could not only recognize objects but identify spoken words, understand natural language, carry on a conversation, and maybe even solve problems humans couldn’t solve on their own, providing new and more incisive ways of exploring the mysteries of biology, medicine, geology, and other sciences. It was an eccentric stance even inside his own university, which spent years denying his standing request to hire another professor who could work alongside him in this long and winding struggle to build machines that learned on their own. “One crazy person working on this was enough,” he imagined their thinking went. But with a nine-​page paper that Hinton and his students unveiled in the fall of 2012, detailing their breakthrough, they announced to the world that neural networks were indeed as powerful as Hinton had long claimed they would be.

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Posted in Anthropology, Corporations/Corporate Life, Ethics / Moral Theology, History, Psychology, Science & Technology, Theology

(The Cut) A Wonderful story on Nasim Alikhani, who opened a New York restaurant at age 59

I was born in Iran, and I went to school to study law to become a judge. Then the revolution happened, and women could no longer be judges. The only option for an outspoken woman like me was to leave my country, and so I came to New York in my early 20s on a student visa. I lived in Jackson Heights, Queens, and I didn’t have any money. I couldn’t study law in the U.S.; I couldn’t afford it. I was starting over completely.

I found a job as a nanny, and the family paid me a little extra to cook their meals. My own mother had taught me to cook when I was growing up, and it was always something I was passionate about, but I never considered it professionally. The family noticed that I could cook really well, and the wife recommended me to her friends, so I started cooking in other people’s homes for parties, people’s birthdays, things like that. People would tell me, “You should open a restaurant.” But I was so young, and still a student in a master’s program. To me, the only way to advance was through higher education, so I got a useless master’s degree and kept doing all kinds of odd jobs — waitressing, babysitting, working in a copy shop.

When I got the opportunity to open my own copy-and-print shop, I was beside myself. It was the first chance I had for financial stability. I had that business for eight years, and it did really well. During that time, I got married, and between my husband and me, our financial situation improved significantly. We were working hard and dining out a lot, and I would always look at the food scene and say, “Why is nobody doing a good job with Iranian food?” I started thinking seriously about opening a coffee shop in the East Village that would serve Persian food for breakfast and lunch. We were also trying to start a family, and it was difficult. I lost pregnancies. And then I got pregnant with twins, so I put the restaurant idea on the back burner.

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Posted in America/U.S.A., Anthropology, Dieting/Food/Nutrition, Economy, Ethics / Moral Theology, Iran, Labor/Labor Unions/Labor Market, Middle Age, Pastoral Theology, Psychology

(Bloomberg) CEOs Become Vaccine Activists as Back-to-Office Push Grows

Some chief executive officers are so eager for their employees to get vaccinated against Covid-19 that they’re granting workers time off or cash incentives to get shots.

In the U.S., retailer Lidl is giving its staff $200, while Aldi, Dollar General Corp. and Trader Joe’s Co. are offering extra hours of pay. Online grocery delivery firm Instacart Inc. is providing a $25 stipend for workers and contractors. Yogurt makers Chobani LLC and Danone SA are offering as much as six hours of paid leave, and the French company says it will cover the cost of inoculation in countries where vaccines aren’t free.

Other companies are taking a harder line. U.K. handyman empire Pimlico Plumbers Ltd. has said it plans a “no jab, no job” policy for new members of its workforce. United Airlines wants to make shots mandatory, drawing concerns from unions.

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Posted in Anthropology, Corporations/Corporate Life, Economy, Ethics / Moral Theology, Health & Medicine, Labor/Labor Unions/Labor Market, Pastoral Theology, Theology

(CRFB) How High Are Federal Interest Payments?

This year, the federal government will spend $300 billion on interest payments on the national debt. This is the equivalent of nearly 9 percent of all federal revenue collection and over $2,400 per household. The federal government spends more on interest than on transportation, education, and research and development combined. The household share of federal interest is larger than average household spending on many typical expenditures, including gas, clothing, education, or personal care.

Despite historically low interest rates, this significant interest cost is the result of high levels of debt. This cost could be even worse if interest rates rise. Each one percent rise in the interest rate would increase FY 2021 interest spending by roughly $225 billion at today’s debt levels. Growing debt levels not only add to the likelihood of such increases, but also the cost and risk associated with them.

This brief puts these interest payments in context. Estimates are based on CBO’s February 2021 baseline and do not incorporate the effects of the American Rescue Plan.

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Posted in Budget, Ethics / Moral Theology, Politics in General, The National Deficit, The U.S. Government

(AP) Facial recognition company sued by California activists

Civil liberties activists are suing a company that provides facial recognition services to law enforcement agencies and private companies around the world, contending that Clearview AI illegally stockpiled data on 3 billion people without their knowledge or permission.

The lawsuit, filed Tuesday in Alameda County Superior Court in the San Francisco Bay Area, contends that the New York-based firm violates California’s constitution and seeks an injunction to bar it from collecting biometric information in California and requiring it to delete data on Californians.

The lawsuit says the company has built “the most dangerous” facial recognition database in the nation, has fielded requests from more than 2,000 law enforcement agencies and private companies, and has amassed a database nearly seven times larger than the FBI’s.

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Posted in Corporations/Corporate Life, Ethics / Moral Theology, Law & Legal Issues, Science & Technology

Church of England Pensions Board commits to the global ‘Net Zero Investment Framework’

21 asset owners, with $1.2 trillion in assets, have used publication of the Framework to commit to achieve net zero alignment by 2050 or sooner. The funds, including the Church of England Pensions Board, are drawing on the Framework to deliver these commitments, alongside a number of asset managers who are already working with clients on net zero alignment.

The Framework enables investors to decarbonise investment portfolios and increase investment in climate solutions, in a way that is consistent with and contributes to a 1.5°C net zero emissions future. Investors do this by developing a ‘net zero investment strategy’ built around five core components of the Framework. These key components are: objectives and targets, strategic asset allocation and asset class alignment, alongside policy advocacy and, investor engagement activity and governance.

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Posted in Church of England (CoE), Climate Change, Weather, Corporations/Corporate Life, Ecology, Ethics / Moral Theology, Stewardship, Stock Market

(Mail+Guardian) Stop oil and gas drilling in Namibia’s Kavango Basin immediately — Anglican Church

Thirty-four Anglican bishops and three archbishops from around the world have signed a petition that “respectfully” calls on Namibia’s and Botswana’s governments to halt exploratory drilling in the Kavango Basin in northern Namibia immediately.

In their petition, the faith leaders decry the “imminent desecration” of the Kavango Basin in Northern Namibia and Botswana by Canadian oil and gas company, ReconAfrica.

The signatories include the Archbishop of Cape Town, Reverend Dr Thabo Cecil Makgoba; Archbishop Julio Murray, the chair of the Anglican communion environmental network; Archbishop Mark Macdonald from the Anglican Church of Canada; and Bishop Kito Pikaahu, chair of Anglican indigenous network; and the Bishop of Salisbury, the Right Reverend Nicholas Roderick Holtam.

“ReconAfrica claims that drilling the Kavango basin is ‘pretty much a no-brainer’,” the petition reads. “We call it a sin. To destroy life and God’s creation is simply wicked.”

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Posted in Canada, Corporations/Corporate Life, Economy, Energy, Natural Resources, Ethics / Moral Theology, Namibia

(NYT Dealbook) Rescue Package Includes $86 Billion Bailout for Failing Pensions

Tucked inside the $1.9 trillion stimulus bill that cleared the Senate on Saturday is an $86 billion aid package that has nothing to do with the pandemic.

Rather, the $86 billion is a taxpayer bailout for about 185 union pension plans that are so close to collapse that without the rescue, more than a million retired truck drivers, retail clerks, builders and others could be forced to forgo retirement income.

The bailout targets multiemployer pension plans, which bring groups of companies together with a union to provide guaranteed benefits. All told, about 1,400 of the plans cover about 10.7 million active and retired workers, often in fields like construction or entertainment where the workers move from job to job. As the work force ages, an alarming number of the plans are running out of money. The trend predated the pandemic and is a result of fading unions, serial bankruptcies and the misplaced hope that investment income would foot most of the bill so that employers and workers wouldn’t have to.

Both the House and Senate stimulus measures would give the weakest plans enough money to pay hundreds of thousands of retirees — a number that will grow in the future — their full pensions for the next 30 years. The provision does not require the plans to pay back the bailout, freeze accruals or to end the practices that led to their current distress, which means their troubles could recur. Nor does it explain what will happen when the taxpayer money runs out 30 years from now.

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Posted in Ethics / Moral Theology, Health & Medicine, Pensions, Politics in General, Senate, The U.S. Government

(NYT) The Robots Are Coming for Phil in Accounting

The robots are coming. Not to kill you with lasers, or beat you in chess, or even to ferry you around town in a driverless Uber.

These robots are here to merge purchase orders into columns J and K of next quarter’s revenue forecast, and transfer customer data from the invoicing software to the Oracle database. They are unassuming software programs with names like “Auxiliobits — DataTable To Json String,” and they are becoming the star employees at many American companies.

Some of these tools are simple apps, downloaded from online stores and installed by corporate I.T. departments, that do the dull-but-critical tasks that someone named Phil in Accounting used to do: reconciling bank statements, approving expense reports, reviewing tax forms. Others are expensive, custom-built software packages, armed with more sophisticated types of artificial intelligence, that are capable of doing the kinds of cognitive work that once required teams of highly-paid humans.

White-collar workers, armed with college degrees and specialized training, once felt relatively safe from automation. But recent advances in A.I. and machine learning have created algorithms capable of outperforming doctors, lawyers and bankers at certain parts of their jobs. And as bots learn to do higher-value tasks, they are climbing the corporate ladder.

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Posted in Anthropology, Corporations/Corporate Life, Economy, Ethics / Moral Theology, Labor/Labor Unions/Labor Market, Science & Technology