Why We All Need to Know Macroeconomics
Your market is no longer a domestic market. Your market is a global market.
Peter Henry is an economist and Dean of NYU's Stern School of Business and the author of Turnaround: Third World Lessons for First World Growth. Henry is a native Jamaican and the youngest and only black dean of a major business school. He was a wide receiver on the UNC football team, a Rhodes Scholar at Oxford, and received his Ph.D at MIT. He taught economics at Stanford prior to NYU, was on President Obama's Transition Team in 2008, and is currently on the board of the Council on Foreign Relations.
Macroeconomics has microeconomic implications. If I am running a corporation that I previously thought of as a domestic corporation, there really is no such thing anymore. Everything from consumer package goods in the United States to makers of large capital equipment – your market is no longer a domestic market. Your market is a global market. And so that requires understanding that the decisions that are made at the level of international economic policymakers come home to roost, so to speak, in your bottom line.
We see this in companies ranging from Kraft Foods and others to companies like Proctor & Gamble. And so what’s really critical here is that business leaders understand that what happens abroad has implications for the bottom line at home.
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Here's the science of black holes, from supermassive monsters to ones the size of ping-pong balls.
- There's more than one way to make a black hole, says NASA's Michelle Thaller. They're not always formed from dead stars. For example, there are teeny tiny black holes all around us, the result of high-energy cosmic rays slamming into our atmosphere with enough force to cram matter together so densely that no light can escape.
- CERN is trying to create artificial black holes right now, but don't worry, it's not dangerous. Scientists there are attempting to smash two particles together with such intensity that it creates a black hole that would live for just a millionth of a second.
- Thaller uses a brilliant analogy involving a rubber sheet, a marble, and an elephant to explain why different black holes have varying densities. Watch and learn!
- Bonus fact: If the Earth became a black hole, it would be crushed to the size of a ping-pong ball.
Protected animals are feared to be headed for the black market.
In a breakthrough for nuclear fusion research, scientists at China's Experimental Advanced Superconducting Tokamak (EAST) reactor have produced temperatures necessary for nuclear fusion on Earth.
- The EAST reactor was able to heat hydrogen to temperatures exceeding 100 million degrees Celsius.
- Nuclear fusion could someday provide the planet with a virtually limitless supply of clean energy.
- Still, scientists have many other obstacles to pass before fusion technology becomes a viable energy source.
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