Genius or Crazy: 'Managed Catastrophe'
Would a government default have the impact of Lehman10 as Daniel Gross puts it or could the breaching of the debt ceiling be a "managed catastrophe" as Senator Tom Coburn so artfully put it?
This is the debate that is going on in Washington right now:
According to estimates by The Bipartisan Policy Center, the U.S. will run out of money between Oct. 22 and Nov. 1, which could result in a default. Coburn disputes this, and argues that the current government shutdown is the right time for politicians to make hard choices about spending, rather than kicking the can down the line. Hence, "managed catastrophe."
In the image above, Coburn symbolically cuts a credit card that represents government spending.
Malcolm Gladwell teaches "Get over yourself and get to work" for Big Think Edge.
- Learn to recognize failure and know the big difference between panicking and choking.
- At Big Think Edge, Malcolm Gladwell teaches how to check your inner critic and get clear on what failure is.
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Neuroscience research suggests it might be time to rethink our ideas about when exactly a child becomes an adult.
- Research suggests that most human brains take about 25 years to develop, though these rates can vary among men and women, and among individuals.
- Although the human brain matures in size during adolescence, important developments within the prefrontal cortex and other regions still take pace well into one's 20s.
- The findings raise complex ethical questions about the way our criminal justice systems punishes criminals in their late teens and early 20s.
Three scientists publish a paper proving that Mercury, not Venus, is the closest planet to Earth.
- Earth is the third planet from the Sun, so our closest neighbor must be planet two or four, right?
- Wrong! Neither Venus nor Mars is the right answer.
- Three scientists ran the numbers. In this YouTube video, one of them explains why our nearest neighbor is... Mercury!
A new method of growing mini-brains produces some startling results.
- Researchers find a new and inexpensive way to keep organoids growing for a year.
- Axons from the study's organoids attached themselves to embryonic mouse spinal cord cells.
- The mini-brains took control of muscles connected to the spinal cords.
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