Joseph Stiglitz on How the Iraq War Ruined the Economy

Card: How is the Iraq War connected to the economy?

Stiglitz:    It’s actually a very clear connection between the war which has been a disaster and our economy which has been a disaster.  The most clear link is the fact that the war of 2003 led to an increase in the price of oil.  The price of oil was $25 a barrel in 2003.  [Future markets].  Once you look at the demands and the supplies going forward, saw that there was going to be an increase in the demand for oil from China, India, even in the United States, but they thought that there was going to be an increase in supply that was concomitant with that increase in the demand, particularly for the Middle East, which is the low cost provider, and so they forecast that the price of oil would remain around $25 a barrel for the next 10 years.  Well, the war upset that equation.  It was very difficult to produce oil out of the Middle East and… and there were other things that went on but clearly it was a very important factor in the soaring of the price of oil from $25 to 50 then a 100, a 140 and now it’s back to 100.  Now, why is that important?  Well, the United States was spending hundreds and billions of dollars in Saudi Arabia, Kuwait, other places that’s producing oil.  In the past, when prices of oil went up like that, as in the 1970s, it caused an economic down turns.  You’re spending that much money abroad, you don’t have that much money at home.  Some people looked at what was going on in the American economy and said, “Well, we’ve [repealed] the old laws of economics.”  Whenever anybody says that to me, I always say, you know, “You’re not seeing something going on,” and here, it was very clear what was going on, well…

Joseph Stiglitz on how the Iraq War ruined the economy.

Study helps explain why motivation to learn declines with age

Research suggests that aging affects a brain circuit critical for learning and decision-making.

Photo by Reinhart Julian on Unsplash
Mind & Brain

As people age, they often lose their motivation to learn new things or engage in everyday activities. In a study of mice, MIT neuroscientists have now identified a brain circuit that is critical for maintaining this kind of motivation.

Keep reading Show less

New brain scan analysis tool can detect early signs of dementia

Researchers develop the first objective tool for assessing the onset of cognitive decline through the measurement of white spots in the brain.

Credit: Gorodenkoff/Shutterstock
Mind & Brain
  • MRI brain scans may show white spots that scientists believe are linked to cognitive decline.
  • Experts have had no objective means of counting and measuring these lesions.
  • A new tool counts white spots and also cleverly measures their volumes.
Keep reading Show less

This is what aliens would 'hear' if they flew by Earth

A Mercury-bound spacecraft's noisy flyby of our home planet.

Image source: sdecoret on Shutterstock/ESA/Big Think
Surprising Science
  • There is no sound in space, but if there was, this is what it might sound like passing by Earth.
  • A spacecraft bound for Mercury recorded data while swinging around our planet, and that data was converted into sound.
  • Yes, in space no one can hear you scream, but this is still some chill stuff.

First off, let's be clear what we mean by "hear" here. (Here, here!)

Sound, as we know it, requires air. What our ears capture is actually oscillating waves of fluctuating air pressure. Cilia, fibers in our ears, respond to these fluctuations by firing off corresponding clusters of tones at different pitches to our brains. This is what we perceive as sound.

All of which is to say, sound requires air, and space is notoriously void of that. So, in terms of human-perceivable sound, it's silent out there. Nonetheless, there can be cyclical events in space — such as oscillating values in streams of captured data — that can be mapped to pitches, and thus made audible.

BepiColombo

Image source: European Space Agency

The European Space Agency's BepiColombo spacecraft took off from Kourou, French Guyana on October 20, 2019, on its way to Mercury. To reduce its speed for the proper trajectory to Mercury, BepiColombo executed a "gravity-assist flyby," slinging itself around the Earth before leaving home. Over the course of its 34-minute flyby, its two data recorders captured five data sets that Italy's National Institute for Astrophysics (INAF) enhanced and converted into sound waves.

Into and out of Earth's shadow

In April, BepiColombo began its closest approach to Earth, ranging from 256,393 kilometers (159,315 miles) to 129,488 kilometers (80,460 miles) away. The audio above starts as BepiColombo begins to sneak into the Earth's shadow facing away from the sun.

The data was captured by BepiColombo's Italian Spring Accelerometer (ISA) instrument. Says Carmelo Magnafico of the ISA team, "When the spacecraft enters the shadow and the force of the Sun disappears, we can hear a slight vibration. The solar panels, previously flexed by the Sun, then find a new balance. Upon exiting the shadow, we can hear the effect again."

In addition to making for some cool sounds, the phenomenon allowed the ISA team to confirm just how sensitive their instrument is. "This is an extraordinary situation," says Carmelo. "Since we started the cruise, we have only been in direct sunshine, so we did not have the possibility to check effectively whether our instrument is measuring the variations of the force of the sunlight."

When the craft arrives at Mercury, the ISA will be tasked with studying the planets gravity.

Magentosphere melody

The second clip is derived from data captured by BepiColombo's MPO-MAG magnetometer, AKA MERMAG, as the craft traveled through Earth's magnetosphere, the area surrounding the planet that's determined by the its magnetic field.

BepiColombo eventually entered the hellish mangentosheath, the region battered by cosmic plasma from the sun before the craft passed into the relatively peaceful magentopause that marks the transition between the magnetosphere and Earth's own magnetic field.

MERMAG will map Mercury's magnetosphere, as well as the magnetic state of the planet's interior. As a secondary objective, it will assess the interaction of the solar wind, Mercury's magnetic field, and the planet, analyzing the dynamics of the magnetosphere and its interaction with Mercury.

Recording session over, BepiColombo is now slipping through space silently with its arrival at Mercury planned for 2025.

End gerrymandering? Here’s a radical solution

Why not just divide the United States in slices of equal population?

Image: u/curiouskip, reproduced with kind permission.
Strange Maps
  • Slicing up the country in 10 strips of equal population produces two bizarre maps.
  • Seattle is the biggest city in the emptiest longitudinal band, San Antonio rules the largest north-south slice.
  • Curiously, six cities are the 'capitals' of both their horizontal and vertical deciles.
Keep reading Show less
Quantcast