By Mariana Mazzucato – What is missing from the public perception is how through the history of modern capitalism, the state has done, and continues to do, what markets simply won’t.
One of the biggest banks in the US is called Chemical Bank because it had its origin in funding the chemical sector—unthinkable today that a bank would be so focused on the real economy!
Yet in recent years finance has not been funding investment or innovation in the real economy but financing … itself. Since the 1970s, financial innovations coupled with deregulation have made it easier to earn profits from speculative investments in financial assets.
Yet capital development of the economy requires ‘patient, long-term committed finance.’ Indeed the IT revolution in the US, was financed initially by patient public finance provided by a network of strategic and mission-oriented agencies: like DARPA in the Department of Defense, NIH in the Department of Health, NSF, NASA, and the Small Business Innovation Research program (which has given more early stage high risk finance to companies than the entire venture capital sector.) more> http://goo.gl/EiEsqE
Posted in Banking, Business, Economic development, Economy, History, How to, Leadership, Science, Technology
Tagged Banking reform, Capital, Government, Industrial economy, Leadership, Technology, United States
Illuminate: Ignite Change Through Speeches, Stories, Ceremonies, and Symbols, Authors: Nancy Duarte, Patti Sanchez.
By Patti Sanchez – We already know how crucial storytelling is in business, especially for branding, PR, and marketing. Stories can improve understanding, make ideas more accessible, and make us feel emotions that compel us to action.
But storytelling can also help us conceptualize the future. In leaders’ hands, great stories can help guide teams through long-term changes.
The heroic quest provides an ideal template: In it, a likeable hero answers the call to adventure, overcomes obstacles that test his resolve, and finally gains the object of his desire in triumph (or falls short in tragedy.)
A business’s journey toward a goal isn’t all that different. There’s a beginning, when an idea is formed and gains support; a middle, when a team must fight and slog through hard work to make the vision come alive; and an end, when the venture either fails or succeeds. more> http://goo.gl/T8BdnK
Einstein Was Correct (Again): Gravitational Waves Observed
By Jason Maderer – For the first time ever, a gravitational wave has been observed. A team of global researchers announced the finding on Thursday, February 11. The discovery comes 100 years after Albert Einstein predicted the existence of gravitational waves in his theory of general relativity.
Gravitational waves are ripples in the very same fabric of the universe that bend and distort space-time. They are produced during violent cosmic disturbances.
In this case, the observed wave was created when two black holes collided approximately a billion and a half years ago, sending a ripple hurtling through space at the speed of light. It arrived on September 14, 2015, and was detected by LIGO – the Laser Interferometer Gravitational-Wave Observatory — a National Science Foundation-funded physics experiment that has searched for waves for more than a decade.
The LIGO Scientific Collaboration includes two Georgia Tech College of Sciences faculty members, and their team of 10 postdoctoral fellows, graduate, and undergraduate students. more> http://goo.gl/nQhIfs
- Atmospheric Sulfate Particles Reduced, but as Acidic as Ever, John Toon
- An Animal That “Flies” through the Ocean, Jason Maderer
- Wearable Robot Transforms Musicians into Three-Armed Drummers, Jason Maderer
- Using Stories to Teach Human Values to Artificial Agents, Tara La Bouff
- Physics: It’s What’s Happening Inside Your Body Right Now, John Toon
- Aerospace Engineering Unveils a Piece of Aviation History, Kathleen Moore
- For this Nanocatalyst, One Atom Makes a Big Difference, John Toon
- Reconfigurable Origami Tubes Could Find Antenna, Microfluidic Uses, John Toon
- Study Shows Large Variability in Abundance of Viruses that Infect Ocean Microorganisms, John Toon
- Looking Beyond the Structure, Jerry Grillo
- Living Building Challenge: The Journey Begins, Rachael Pocklington
Posted in Economy, Education, Energy & emissions, History, Nature, Net, Science, SPACE WATCH, Technology
Tagged Georgia Tech, Gravitational waves, Physics, Technology, Test & measurement, United States
Psy-Fi Blog – You could start by not wasting your time clicking on stupid clickbait articles, I suppose. But since you’re here you might as well learn something.
Given the vast amount of information that flies about the investing world you’d be forgiven for assuming that there are a lot of people who know what’s going on.
The truth is exactly the opposite – no one knows anything. Everyone is speculating because that’s what humans do when faced with uncertainty – we try to make sense of it.
But investment experts pontificating on the latest or next market moves are simply the modern day equivalent of prehistory shamans, high on drugs and low on effective prophesy. They have as much chance of predicting the next market earthquake as their ancient counterparts did, and at least the shamans had the consolation of getting high.
Diversification is the one free lunch in the market, and that’s not very exciting. more> http://goo.gl/edgl6v
By Justin Fox – Oxford University historian Peter Frankopan is writing about the 15th-century dislocation that is now most often referred to as the “great bullion famine,” which makes it sound like they ran out of soup. It has also been called the “the economic depression of the Renaissance” and “the Great Depression of the late middle ages.”
In any case, it was bad. In Frankopan’s telling, money ran short, economies shrank, some Europeans became convinced that the world was coming to an end. And in the world’s largest economy, a bubble burst … more> http://goo.gl/3SrBxg