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So these elite places become these little islands where rich people pass down their advantages to their kids. Like everyone else, by today’s standards, I wouldn’t qualify for any of the elite schools. And yet in those days, the University of Chicago, where I ended up going, admitted 70 percent of the applicants. The process is not only divisive but doesn’t give people later in life a fair chance to alter the trajectory of their life. They should look at their grades, they should look at their test scores, but they should also look at their resilience.

Persons: We’ve, I’ve, Richard Kahlenberg, he’s Organizations: University of Chicago, Harvard, University of North Locations: Philadelphia, West Virginia, New Orleans, Beverly Hills, Santa Monica, Manhattan, University of North Carolina

☆ How safe are America’s biggest banks? The Fed’s imminent stress tests may offer clues
▼ + stars: | 2023-06-28 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +5 min

That’s because no stress test scenario could perfectly predict the conditions that would cause a bank to collapse. And besides, that’s not the purpose of stress tests, said Covas, a former Fed economist who developed some of the central bank’s early stress tests. The test scenarios were designed before the banking crisisFed officials update the stress test scenarios each year to capture the latest vulnerabilities in the economy. It’s a misconception that “if no bank fails these stress tests are not useful,” or the tests were too easy, Covas said. “You really don’t need a stress test to figure out that SVB had some significant issues,” he added.

Persons: Francisco Covas, that’s, Covas, “, ”, João Granja, they’ve, SVB Organizations: New, New York CNN, Federal, Bank Policy Institute, University of Chicago Booth School of Business, Fed, Silicon Valley Bank, Signature Bank, First Republic Bank, CNN Locations: New York, Silicon

☆ How Easy Is It to Fool A.I.-Detection Tools?
▼ + stars: | 2023-06-28 | by ( Stuart A. Thompson | Tiffany Hsu | ) www.nytimes.com time to read: +11 min

“Real” Umm-maybe “Real” Illuminarty “A.I.” A.I. or Not “A.I.” Hive “A.I.” Sensity “Real” Umm-maybe “Real” Illuminarty “Real” A.I. or Not “A.I.” Hive “A.I.” Sensity “Real” Umm-maybe “Real” Illuminarty “A.I.” A.I. or Not “A.I.” Hive “Real” Sensity “A.I.” Umm-maybe “Real” Illuminarty “A.I.” A.I. or Not “A.I.” Hive “A.I.” Sensity “A.I.” Umm-maybe “Real” Illuminarty “Real” A.I.

Persons: Elon Musk, ”, Musk, Chenhao Tan, “, I’m, Ron DeSantis, Cynthia Rudin, Dan Lytle, Midjourney, Kevin Guo, ” Mr, Guo, Biden, Damon Winter, Sensity, Jackson Pollock, Pollock, Marc Fibbens, Shyam Sundar, Sundar Organizations: New York Times, Guerrero Art, Times, University of Chicago, Republican, Duke University, Hive, Photoshop, The Times, The New York Times, Industry, A.I, Center, Intelligence, Pennsylvania State University Locations: A.I, Florida, “, Gettysburg, Pa, New Zealand

☆ Chicago business executive and philanthropist Jim Crown killed in Colorado racetrack crash
▼ + stars: | 2023-06-27 | by ( ) www.cnbc.com time to read: +4 min

Crown, a grandson of industrialist Henry Crown and the chief executive of Henry Crown & Co., was involved in a single-vehicle accident at the Aspen Motorsports Park in Woody Creek, the Pitkin County coroner's office said in a news release. Crown's father, financier Lester Crown, said his son "was driving a race car, and it hit a wall going around a curve," the Chicago Sun-Times reported. "There never was a finer human being in every way," Lester Crown said. Crown's family business, Henry Crown & Co., invests in public and private securities, real estate, and operating companies. "The Crown family is deeply saddened by the sudden passing of Jim Crown in an accident earlier (Sunday)," his family said.

Persons: James, Jim Crown, Henry Crown, Lester Crown, Jim, Barack Obama, Michelle Obama, Brandon Johnson, Obama, Salomon, Lester, Renée Organizations: James Crown, University of Chicago, Chicago . Crown, Co, Aspen Motorsports, Chicago Sun, Times, Commercial Club of Chicago, Sun -, Chicago, Aspen Skiing Co, General Dynamics, JPMorgan Chase, The Aspen Institute, Museum of Science, Industry, President's Intelligence, Hampshire College, Stanford Law School, Salomon Brothers Inc, Capital Markets Service Locations: Chicago ., Chicago, Colorado, Woody Creek, Pitkin County, It's, Amherst , Massachusetts, New York

☆ James Crown, a billionaire JPMorgan board member who belonged to one of the US' richest families, died in a racing crash on his 70th birthday
▼ + stars: | 2023-06-27 | by ( Grace Dean | ) www.businessinsider.com time to read: +3 min

Billionaire businessman James "Jim" Crown died in a racing crash in Aspen, Colorado on Sunday. Crown collided with an impact barrier in an accident, the coroner's office told The Colorado Sun. Forbes ranked the Crown family as the US' 34th richest in 2020 with an estimated wealth of $10.2 billion. Billionaire businessman James "Jim" Crown died in a racing crash in Aspen, Colorado on Sunday, multiple news outlets reported. "The official cause of death is pending autopsy although multiple blunt force trauma is evident," the coroner's office told the publication.

Persons: James, Jim, Crown, Henry Crown, Junius Mayer Schine, Jamie Dimon, Joe Biden, Narendra Modi, Biden, Brandon Johnson, Jim Crown Organizations: Sunday . Crown, Colorado Sun, Forbes, Morning, Aspen Motorsports, The Colorado Sun, Pitkin County Coroner's, Aspen Times, Bloomberg, Henry Crown and Company, Aspen Institute, Aspen Skiing, General Dynamics, White, Indian, America, Chicago, Museum of Science and Industry, University of Chicago Locations: Aspen , Colorado, Pitkin County, Colorado, Chicago

☆ JPMorgan, General Dynamics board member Jim Crown dies in accident
▼ + stars: | 2023-06-26 | by ( ) www.reuters.com time to read: +1 min

NEW YORK, June 26 (Reuters) - JPMorgan Chase & Co (JPM.N) and General Dynamics Corp (GD.N) board member Jim Crown died on Sunday in a vehicle accident in Colorado, a county coroner said. Crown, 70, was the chairman and chief executive officer of Henry Crown and Co., a privately owned company that invests in public and private securities, real estate and operating companies. Crown was involved in a single vehicle accident at the Aspen Motorsports Park in Woody Creek, Colorado, the Pitkin County Coroner's office said in a statement. Bank CEO Jamie Dimon said in a memo to directors seen by Reuters that Crown was an "integral part" of JPMorgan Chase. Crown was also the chairman of The Aspen Institute and trustee of the Museum of Science and Industry and the University of Chicago.

Persons: Jim Crown, Henry Crown, Jamie Dimon, Crown, Nupur Anand, Lananh Nguyen, Tatiana Bautzer, Cynthia Osterman Organizations: YORK, JPMorgan Chase &, General Dynamics Corp, Aspen Motorsports, Bank, Reuters, JPMorgan Chase, The Aspen Institute, Museum of Science, Industry, University of Chicago, Thomson Locations: Colorado, Woody Creek , Colorado, Pitkin County, New York

☆ John B. Goodenough, 100, Dies; Nobel-Winning Creator of the Lithium-Ion Battery
▼ + stars: | 2023-06-26 | by ( Robert D. Mcfadden | ) www.nytimes.com time to read: +2 min

He was, he said in a memoir, “Witness to Grace” (2008), the unwanted child of an agnostic Yale University professor of religion and a mother with whom he never bonded. The two sides, called electrodes, hold charges — a negative one called an anode, and a positive one called a cathode. When a battery releases energy, positively charged ions shuttle from the anode to the cathode, creating a current. A rechargeable battery is plugged into a socket to draw electricity, forcing the ions to shuttle back to the anode, where they are stored until needed again. Materials used for the anode, cathode and electrolyte determine the quantity and speed of the ions, and thus the battery’s power.

Persons: Grace ”, Clarence Zener, Edward Teller, Enrico Fermi Organizations: Yale University, Yale, Army Air Forces, University of Chicago, Lincoln Laboratory Locations: Groton, M.I.T, Oxford

☆ John Goodenough, Nobel laureate and battery pioneer, dies at 100
▼ + stars: | 2023-06-26 | by ( ) www.reuters.com time to read: +2 min

[1/2] John B. Goodenough, 2019 Nobel Prize in Chemistry winner, speaks during a news conference at the Royal Society in London, Britain October 9, 2019. REUTERS/Peter Nicholls/File PhotoJune 26 (Reuters) - Nobel laureate John Goodenough, a pioneer in the development of lithium-ion batteries that today power millions of electric vehicles around the globe, died on Sunday just a month short of his 101st birthday. In recent years, Goodenough and his university team had also been exploring new directions for energy storage, including a “glass” battery with solid-state electrolyte and lithium or sodium metal electrodes. Goodenough also was an early developer of lithium iron phosphate (LFP) cathodes as an alternative to nickel- and cobalt-based cathodes. After completing a bachelors in mathematics at Yale University, Goodenough received an masters and a PhD in physics from the University of Chicago.

Persons: John B, Goodenough, Peter Nicholls, John Goodenough, “, Jay Hartzell, Britain's Stanley Whittingham, Japan's Akira Yoshino, Paul Lienert Organizations: Royal Society, REUTERS, University of Texas, Chemistry, Royal Swedish Academy of Sciences, Yale University, University of Chicago, Massachusetts Institute of Technology, University of Oxford, Thomson Locations: London, Britain, Austin, Jena, Germany, Detroit

☆ Billionaire killed in race car crash
▼ + stars: | 2023-06-26 | by ( Bryan Mena | ) edition.cnn.com time to read: +2 min

Washington, DC CNN —James Crown, a billionaire businessman who held several leadership roles including board member of JPMorgan Chase, died Sunday in a racing accident in Colorado. Crown, who also turned 70 on Sunday, died in the single-vehicle crash after colliding with an impact barrier at Aspen Motorsports Park in Woody Creek, Colorado, The Colorado Sun reported. Among his many roles, Crown was chairman and CEO of his family business, the investment firm Henry Crown and Company. In addition to serving on the JPMorgan board, he was also a board director at General Dynamics. “We extend our deepest condolences to Jim’s family and loved ones during this incredibly difficult time,” Jamie Dimon, CEO of JPMorgan Chase, said in a statement.

Persons: James Crown, JPMorgan Chase, Crown, Henry Crown, Jim’s, ” Jamie Dimon, Jim, ”, Jim Crown, Barack Obama Organizations: DC CNN, JPMorgan, Colorado . Crown, Aspen Motorsports, The Colorado Sun, Henry Crown and Company, General Dynamics, JPMorgan Chase, ”, Aspen Skiing Co, Aspen Institute, Museum of Science and Industry, Civic Committee, University of Chicago, Crown, President’s Intelligence, Local, Pitkin County Coroner’s, Forbes Locations: Washington, Colorado, Woody Creek , Colorado, The, Chicago, Pitkin County

☆ RPT ANALYSIS For EV batteries, lithium iron phosphate narrows the gap with nickel, cobalt
▼ + stars: | 2023-06-23 | by ( Paul Lienert | ) www.reuters.com time to read: +5 min

[1/2] Tesla Model 3 vehicles are seen for sale at a Tesla facility in Fremont, California, U.S., May 23, 2023. REUTERS/Carlos Barria/File PhotoDETROIT, June 23 (Reuters) - As the auto industry scrambles to produce more affordable electric vehicles, whose most expensive components are the batteries, lithium iron phosphate is gaining traction as the EV battery material of choice. But technological advances have also reduced the performance gap with more widely used materials such as nickel and cobalt. Ford Motor (F.N) aims to open a $3.5 billion LFP cell manufacturing plant in western Michigan, leveraging technology licensed from China’s CATL (300750.SZ), the world’s largest EV battery maker. The rapidly increasing adoption of LFP by EV manufacturers including Tesla and Hyundai suggests those companies “are not ready to decouple from China," Meng said.

Persons: Carlos Barria, Tesla, ”, Stanley Whittingham, Mujeeb Ijaz, “ We’ve, China’s, Jim Farley, Shirley Meng, Meng, Lukasz Bednarski, Bednarski, LFP, Whittingham, “, Paul Lienert, Matthew Lewis Organizations: Tesla, REUTERS, DETROIT, EV, Toyota, Hyundai, U.S, Binghamton University, Ford, University of Chicago, Argonne, Laboratory’s, Center for Energy Storage Science, New Energy, Thomson Locations: Fremont , California, U.S, North America, New York, Michigan, Van Buren, China, United States, Norway, Israel, South Korea, EVs, Detroit

☆ Analysis: For EV batteries, lithium iron phosphate narrows the gap with nickel, cobalt
▼ + stars: | 2023-06-22 | by ( Paul Lienert | ) www.reuters.com time to read: +5 min

[1/2] Tesla Model 3 vehicles are seen for sale at a Tesla facility in Fremont, California, U.S., May 23, 2023. REUTERS/Carlos Barria/File PhotoDETROIT, June 22 (Reuters) - As the auto industry scrambles to produce more affordable electric vehicles, whose most expensive components are the batteries, lithium iron phosphate is gaining traction as the EV battery material of choice. But technological advances have also reduced the performance gap with more widely used materials such as nickel and cobalt. Ford Motor (F.N) aims to open a $3.5 billion LFP cell manufacturing plant in western Michigan, leveraging technology licensed from China’s CATL (300750.SZ), the world’s largest EV battery maker. The rapidly increasing adoption of LFP by EV manufacturers including Tesla and Hyundai suggests those companies “are not ready to decouple from China," Meng said.

Persons: Carlos Barria, Tesla, ”, Stanley Whittingham, Mujeeb Ijaz, “ We’ve, China’s, Jim Farley, Shirley Meng, Meng, Lukasz Bednarski, Bednarski, LFP, Whittingham, “, Paul Lienert, Matthew Lewis Organizations: Tesla, REUTERS, DETROIT, EV, Toyota, Hyundai, U.S, Binghamton University, Ford, University of Chicago, Argonne, Laboratory’s, Center for Energy Storage Science, New Energy, General Motors, Battery, Thomson Locations: Fremont , California, U.S, North America, New York, Michigan, Van Buren, China, United States, Norway, Israel, South Korea, EVs, Detroit

☆ Moderate Will Hurd, a Trump critic, joins 2024 Republican race
▼ + stars: | 2023-06-22 | by ( Doina Chiacu | ) www.reuters.com time to read: +2 min

REUTERS/Eduardo Munoz/File PhotoWASHINGTON, June 22 (Reuters) - Former U.S. Representative Will Hurd, a moderate who was once the sole Black Republican in Congress, on Thursday joined the crowded race to beat Donald Trump for the party's 2024 presidential nomination. Painting a stark contrast to Trump, Hurd said his vision of America would acknowledge science, address mental health, and be inclusive and understanding. A former undercover CIA officer in the Middle East and South Asia, Hurd served on the House of Representatives Intelligence Committee. In 2019, he strongly criticized tweets by then-President Trump saying four progressive Democratic minority congresswomen, including one born in Somalia, should "go back" to where they came from. Since leaving Congress, Hurd has worked as a managing director at Allen & Company, a board member for OpenAI, and trustee of the German Marshall Fund, according to his website.

Persons: Will Hurd, Eduardo Munoz, Representative Will Hurd, Donald Trump, Hurd, Joe Biden, Trump, Tim Scott of, Ron DeSantis, Mike Pence, Nikki Haley, Chris Christie, Doina Chiacu, Nick Zieminski, Jonathan Oatis Organizations: Iowa Faith &, REUTERS, WASHINGTON, Former U.S, Representative, Black Republican, Thursday, Senate, CIA, of, Democratic, Republican, U.S, Florida, Allen & Company, German Marshall Fund, University of Chicago Institute of Politics, America, Federal, Thomson Locations: West Des Moines , Iowa, U.S, Former, East, South Asia, Texas, Somalia, Tim Scott of South Carolina, South Carolina, New Jersey

☆ The cult of Emily Oster
▼ + stars: | 2023-06-22 | by ( Sarah Todd | ) www.businessinsider.com time to read: +30 min

Emily Oster is sitting in the back of a car, checking her Garmin watch as we lurch through rush-hour traffic toward the Holland Tunnel. A self-described expert in data, Oster uses her economics training to dig into studies on things like circumcision and screen time and translate them for popular consumption. There doesn't seem to be much of a gap between the way Oster presents herself in her books and newsletters and the way she conducts her life. Unsurprisingly, economics informs every aspect of the way Oster sees the world. When Oster was a toddler, her mother told a Yale colleague that Oster often talked to herself before falling asleep.

Persons: Emily Oster, doesn't, Oster, Taylor Swift, Spock, —, Mandy Moore, Emily DiDonato, Amy Schumer, " Oster, Emily, Aisha McAdams, Claudia Goldin, who's, Lori Feldman, " Feldman, Winter, It's, reopenings, Timothy Caulfield, Oster's Brown, OSTER, She's, Sheryl Sandberg's, Brown, Denis Tangney Jr, graham, Eminem, Sharon Oster, Ray Fair, Jesse Shapiro, Katherine Nelson, Carl, Choate Rosemary Hall, John F, Kennedy, Glenn Close, Ivanka Trump, Goldin, Steven Levitt —, Oster —, Paul Farmer, Steven Levitt, Oster's, Levitt, Robert Barro, demographer Monica Das Gupta, Joseph Delaney, she'd, I've, Matt Notowidigdo, Chicago Booth, hadn't, Udo Salters, Patrick McMullan, Shapiro, Jessica Calarco, Dr, Anthony Fauci, Donald Trump, Calarco, Rochelle Walensky, Delaney, University of Manitoba epidemiologist, Abigail Cartus, Justin Feldman, Delivette Castor, they're, COVID, Castor, Notowidigdo, Carter, you'd, she's, there's Organizations: Garmin, Brown University, New York Times, American Academy of Pediatrics, Yorker, Yale School of Management, Yale, Harvard, Connecticut, Choate, University of Chicago, Forbes, Wall, Publicly, University of Manitoba, Getty, Oster, Centers for Disease Control, Columbia University, Harvard Business School Locations: Holland, Montclair , New Jersey, Montclair, Harvard, Providence , Rhode Island, New Haven , Connecticut, China, Canada, Chicago, Ohio, New Jersey

☆ Student Loan Pause Is Ending, With Consequences for Economy
▼ + stars: | 2023-06-21 | by ( Lydia Depillis | ) www.nytimes.com time to read: +2 min

Ms. Musselwhite doesn’t know how much her monthly payments will be, but she’s thinking about where she might need to cut back — and her partner’s student loan payments will start coming due, too. Then it began to shrink, as those who continued loan payments were able to make progress while interest rates were set at zero. A greater share of Black families with children were eligible than white and Hispanic families, although their prepandemic monthly payments were smaller. (That reflects Black families’ lower incomes, not loan balances, which were higher; 53 percent of Black families were also not making payments before the pandemic.) Economists at the University of Chicago found that rather than paying down other debts, those eligible for the pause increased their leverage by 3 percent on average, or $1,200, compared with ineligible borrowers.

Persons: Musselwhite, Beamer Organizations: Institute, Federal Reserve, University of Chicago

☆ Heavy drinkers really don’t ‘handle their liquor,’ study says
▼ + stars: | 2023-06-19 | by ( Sandee Lamotte | ) edition.cnn.com time to read: +7 min

CNN —It’s a misnomer that heavy drinkers can “hold their liquor,” a new study found. The 397 participants included light drinkers, heavy social drinkers and those who had alcohol abuse disorder. “In their daily lives, this group averaged 38.7 drinks a week, compared to 2.5 drinks a week for light drinkers and about 20 drinks for heavy drinkers,” King said. Some tolerance was seenAt first, the study supported the notion that heavy drinkers can manage larger doses without impairment. Neither the heavy drinkers nor those with alcohol abuse disorder felt impaired when asked.

Persons: CNN —, ”, Nathan Didier, Andrea King, King, —, ” King, ” Didier, ” Didler, Kevin Trimmer Organizations: CNN, University of Chicago, National Institute, Alcohol, Research, Chicago, Drinking, “, Getty Locations: United States

☆ The message top corporate CFOs are sending directly to Fed presidents isn't a bullish one
▼ + stars: | 2023-06-13 | by ( Eric Rosenbaum | ) www.cnbc.com time to read: +9 min

The Fed remains focused on the labor market and cooling wage growth while raising unemployment as the key to bringing hot services inflation down. "I shared with him [a regional Fed president] that they should stop, not pause," said another CFO on the call. "The consumer is being smart," the CFO said, but the Fed focus on bringing unemployment up can break the consumer. "I gave this message to him [a Fed president]: we can manage through this with unemployment below 4%." CFOs said the labor market remains tight and the wage gains, while slowing, have created a higher wage base which can't be turned back.

Persons: Jerome Powell, Drew Angerer, That's, Wall, Randy Kroszner, CFOs, Sara Eisen, Kroszner, it's Organizations: Federal Reserve, Federal, Market, Fed, CNBC, CNBC Fed Survey, Chatham House, Corporations, University of Chicago Booth School of Business Locations: Washington ,

☆ What I Learned About ‘Woke’ Capital and Milton Friedman at the University of Chicago
▼ + stars: | 2023-06-09 | by ( James Mackintosh | ) www.wsj.com time to read: 1 min

Saieh Hall for Economics at the University of Chicago. Photo: Beata Zawrzel/Getty ImagesAhead of three months studying in Chicago, the home of Milton Friedman, I expected to be surrounded by anti-ESG, pro-capitalist supporters of the status quo in American finance. The University of Chicago has such a reputation as the bastion of free markets that the pure capitalism it espoused was dubbed “freshwater economics” for the lakeside location.

Persons: Saieh, Beata Zawrzel, Milton Friedman Organizations: for Economics, University of Chicago, The University of Chicago Locations: Chicago

☆ To Get Politics Out of Business, Get Business Out of Politics
▼ + stars: | 2023-06-09 | by ( James Mackintosh | ) www.wsj.com time to read: 1 min

Persons: Saieh, Beata Zawrzel, Milton Friedman Organizations: for Economics, University of Chicago, The University of Chicago Locations: Chicago

☆ How Solar Wind Flows From the Sun Like Water From a Shower Head
▼ + stars: | 2023-06-07 | by ( Kenneth Chang | ) www.nytimes.com time to read: 1 min

High-speed particles spew out of the sun like water from a shower head, scientists reported on Wednesday. Data from the Parker Space Probe, a NASA spacecraft that launched in 2018 and is now swooping in to gather readings of the sun’s outer atmosphere, or corona, is providing clues about how the sun generates the solar wind — a million-miles-per-hour stream of electrons, protons and other charged particles rushing outward into the solar system. The solar wind research ties into a mystery that has long perplexed scientists: Why is the corona, where temperatures soar to millions of degrees, so much hotter than the surface of the sun, which is a relatively cool 10,000 degrees Fahrenheit? The Parker probe is named after Eugene N. Parker, a University of Chicago astrophysicist who first predicted the existence of the solar wind in 1958.

Persons: Parker, Eugene N Organizations: Parker, Probe, NASA, University of Chicago

☆ It's possible the Fed will pause rate hikes this time around, professor says
▼ + stars: | 2023-06-07 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailIt's possible the Fed will pause rate hikes this time around, professor saysRaghuram Rajan of the University of Chicago Booth says, however, that "the jury is still out" on how much more the U.S. Federal Reserve needs to do to manage inflation.

Persons: Raghuram Rajan, University of Chicago Booth Organizations: University of Chicago, U.S . Federal Reserve

☆ Opinion | What Economics and Hamlet Have in Common
▼ + stars: | 2023-06-05 | by ( Peter Coy | ) www.nytimes.com time to read: +1 min

In high school I memorized a scene from “Hamlet” in which the gloomy prince tries to persuade his mother to leave the usurper king, the brother of Hamlet’s murdered father. “Assume a virtue, if you have it not,” Hamlet implores Gertrude. And a few lines later: “Refrain tonight, / And that shall lend a kind of easiness / To the next abstinence: the next more easy; / For use almost can change the stamp of nature.”The idea that “use almost can change the stamp of nature” is embedded in economics, although I didn’t appreciate it in high school. “Virtue is an acquired practice,” the Nobel economics laureate James Heckman, Bridget Galaty and Haihan Tian wrote in a working paper released last month by the Becker Friedman Institute at the University of Chicago. They added that this acquired practice “may eventually become the dominant preference of agents in the sense that it influences behaviors.”I’ll wager that’s exactly how Hamlet would have put it if he’d received graduate training in economics instead of kicking around a castle in Denmark.

Persons: Hamlet’s, “, Gertrude, ”, James Heckman, Bridget Galaty, Haihan Tian, Becker Friedman, he’d Organizations: University of Chicago Locations: Denmark

☆ University of Chicago Graduates: Go Forth and Argue - The New York Times
▼ + stars: | 2023-06-02 | by ( Bret Stephens | ) www.nytimes.com time to read: +2 min

On Friday, I was the invited speaker for the Class Day Ceremony at the University of Chicago, my alma mater. Campus political groups issued a statement of protest and a few students walked out of the ceremony. To those of you who are protesting or planning a walkout, I thank you for not seriously disrupting my speech. And though I’m sorry you won’t hear me out, I completely respect your right to protest any speaker you dislike, including me, so long as you honor the Chicago Principles. It is one of the core liberties that all of us have a responsibility to uphold, protect and honor.

Persons: Bob Zimmer, John Boyer, charitably, — Organizations: University of Chicago Locations: Chicago

☆ Opinion | The New Climate Law Is Working. Clean Energy Investments Are Soaring.
▼ + stars: | 2023-05-30 | by ( Brian Deese | ) www.nytimes.com time to read: +4 min

The largest increase is projected to be in industrial and manufacturing activity for hydrogen, carbon capture, energy storage and critical minerals — areas key to long-term energy security. The law did not provide all the necessary tools to achieve national goals for expanding our supply of clean energy. First, lawmakers must make it easier to build clean energy infrastructure in America. The Federal Energy Regulatory Commission should more aggressively clear backlogs preventing clean energy projects from connecting to the grid. Policymakers should consider new incentives to expand energy capacity, like conditioning federal assistance to states and localities that reform land-use policies to allow clean energy development.

☆ Debt ceiling crisis: How a US default would ricochet around the world
▼ + stars: | 2023-05-26 | by ( Hanna Ziady | ) edition.cnn.com time to read: +9 min

But if it does, it could make the 2008 global financial crisis feel like a walk in the park. The consequences are frightful.”The belief that America’s government will pay its creditors on time underpins the smooth functioning of the global financial system. During the 2011 standoff over raising the US debt ceiling, the S&P 500 index of leading US shares plunged more than 15%. “It’s unclear in a Treasury default crisis whether the Fed could do enough even with the types of efforts it deployed in March 2020,” Obstfeld said. “A default would be a message to investors all around the world of eroding confidence in America,” he added.

☆ This 15-mile, $6.7B bridge is a symbol of China’s ambitions, and its problems
▼ + stars: | 2023-05-23 | by ( Chris Lau | ) edition.cnn.com time to read: +9 min

The Greater Bay Area is home to 68 million people, covers 21,800 square miles and encompasses 11 cities: Hong Kong, Macao and nine others including Zhongshan and Shenzhen. The Shenzhen-Zhongshan bridge project features artificial islands and an undersea tunnel. That bridge connects the mainland Chinese city of Zhuhai with gambling hub Macao and leading financial center Hong Kong. An aerial view of the world's longest cross-sea bridge, the Hong Kong-Zhuhai-Macao Bridge, in Zhuhai city, south China's Guangdong province, 19 March 2019. The latest bridge would connect two mainland Chinese cities that were already under the same regulations, he pointed out.

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