Thursday, October 21, 2010
Economists moved a step closer to implementing the crucial concept of including the value of natural resources and ecosystem services onto the balance sheets of companies and countries. A new report, The Economics of Ecosystems and Biodiversity: Mainstreaming the Economics of Nature (TEEB) details why this is so vital to sustainable development, and to the wealth and well being of the world's poor today and everyone in the future.
You can read more about these issues and the TEEB report at Suite101: How Much is the Earth Worth? Valuing Resources and Ecosystems
You might also like my January, 2010 post on some earlier research in this area.
Robert Adler
for the institute
Thursday, October 14, 2010
The national media announced yesterday that the nation’s top bankers treated themselves to a whopping $144,000,000,000—that’s 144 billion dollars--in pay and bonuses this year. That is quite a nice reward for a bunch of people who should be held responsible for the financial mess we’re in.
It seems to me that most people do not remember that it was these very same bankers who created and invested in the bundled, unsecured mortgages that just over two years ago pushed the financial and stock markets into freefall. Instead of directing their rage at the people who are responsible, millions of Americans are now taking out their anger at the Obama/Pelosi “axis of evil,” as if they were responsible for the 14,800,000 people who are still officially unemployed in the United States.
It’s not unusual for the public to resort to irrational anger during economic downturns. The question is why the ultra-right-wing Tea Party has been able to energize and direct this outrage. Where have the Democrats, the party of the people, been as lines at food banks and unemployment windows grow?
When Democrats were Democrats, FDR declared a “Bank Holiday” to brake the bank panic of 1933. My proposal for such a holiday is, admittedly, a little different than FDR’s. I propose that the ultra-rich on Wall Street take a holiday and forego their outrageous pay for one year. I propose a total holiday because these bankers argue that if they pay their top talent less, they will jump ship to another firm. So if all these investment geniuses earn the same – nothing -- for a year, none of them will be tempted to jump ship.
It is not that they—prudent, conservative, upstanding, and financially responsible individuals that they are—don’t have some money in the bank for this rainy day holiday. After all, this year’s $144 Billion was preceded by last year’s $139 billion.
What would this accomplish?
The US median income is a mere $43,317 in comparison. Simple division demonstrates that we could create 3.66 million more jobs, cutting the ranks of the unemployed by almost a quarter. If instead we picked the median wage for women we could cut unemployment by almost a third. On the other hand, if the unemployed accepted the minimum wage, $15,080 a year, we could get 64.5% of them back to work.
With all these people back to work, they would be buying goods and creating even more jobs. Pretty soon the federal government would not be paying out unemployment claims and could, responding to recent Republican demands, start balancing the budget. And states, receiving revenues once more from the sales and income taxes on the newly employed wouldn’t have to lay off teachers, nurses, police and firefighters.
Of course, we should not take this proposed “holiday” seriously for a moment. The high finance paper-shufflers and computer wizards on Wall Street would not, for a moment, agree to such an arrangement. Silly me. The Wall Street elite are where they are, doing what they are doing, and pulling in the money they are pulling in because they would never for a moment consider sacrificing for the good of the country or their fellow Americans.
However, engaging in a moment of fantasy does force one to look more closely at reality. Why are these very people who brought economic tragedy upon so many still reaping outlandish financial rewards? Why is all the outrage coming from the Far Right? Where are the political leaders who are willing to stand up to these parasitic financiers and serve the needs of the common, hard working (if jobs were available) individual?
The Founding Fathers were wrong: not all people are created equal. It is true that we still operate in a profit and loss economy—only the profit part is going year after year after year to the very rich and the loss is going to the growing proportion of people at the bottom who continue to lose their jobs, homes and hope for the future.
I’m certain that those who would get jobs under this proposal would not complain about working on a “holiday.”
Lou Miller, Ph.D.
for the institute
Wednesday, September 22, 2010
Maybe climate change skeptics, most of whom seem to be of the conservative persuasion, would think twice if they knew that many of the biggest countries and industries in the world are taking climate change very seriously.
We're not just talking dotcoms like Google, which have invested heavily in sustainable enterprises, but great grey eminences including major insurance companies and banks. I guess being realistic about the risks from global warming and climate change, and being alert to the enormous growth potential in conservation, green energy and sustainable businesses makes sense when you're responsible for billions or trillions of dollars of investments.
One of those financial heavy hitters, Deutsche Bank,commissioned an independent study from a group of climate experts at Columbia University. The bank asked the experts to look at the scientific evidence for or against the major arguments raised by climate change skeptics in recent years. You've read or heard most of these arguments, for example in George Wills' influential columns in the Washington Post.
The Columbia Unversity team basically concluded that although it's true that Earth's climate is extremely complex and the scientific community's ability to predict exactly what will happen as we continue to pump greenhouse gases and aerosols into the atmosphere, cut down forests, etc., is necessarily imperfect, human-caused climate change is real and serious.
The implication is that any enterprise that wants to succeed in the real world needs to take climate change seriously.
You can read more about the Deutsche Bank study in a recent Suite101 article here.
Saturday, August 07, 2010
I recently had the opportunity to interview George Backus, a nuclear engineer, systems researcher and economics expert who leads a team at Sandia National Laboratories, in Albuquerque, New Mexico, whose job it is to evaluate and detail the risks to the United States from climate change.
Bachus has a deep and unique understanding of complex systems, not just Earth's climate, but how climate changes could interact with our equally complex -- and probably much more fragile -- economic system.
I recently posted two stories about Backus and his team's work on Suite101: "Rethinking Climate Change Risks -- National Lab's Approach," and "National Lab Calculates State-by-State Climate Change Risks."
Climate change skeptics often argue that the uncertainties in even the most advanced climate models mean we should do nothing about climate change -- no investments, no new regulations, no new laws, no new treaties; just business as usual.
Bachus turns that argument upside down. The greater the uncertainty, he says, the greater the risk. If climate scientists could tell us that sea levels would rise by no more than six inches by 2050, every region could know if it was at risk and take appropriate steps. However, if the best models can do is tell us that a six-inch rise is slightly more likely than any other number, but that the actual change could be anything from one inch to three feet, planners have to take into account the unlikely, but potentially catastrophic impact of that three foot rise.
Like a scorpion, it's the tail end of the distribution of possible climate change outcomes -- the Katrinas and the ten-year droughts, plus their impacts on the economy, jobs and security -- that really stings.
For the details, please take a look at those two stories.
Robert Adler
for the institute
Saturday, June 26, 2010
This week two climate researchers warned of a particular threat to the western United States from global warming.
Writing in the 25 June, 2010 edition of the journal Science, Jonathan Overpeck, at the University of Arizona, and Bradley Udall, at the University of Colorado,say that the impacts of global climate change are already being felt throughout the West,as shown by soaring temperatures, the worst drought since systematic records were started, reduced spring snowpack, reduced river flow and reduced water storage in the region's reservoirs.
In addition, they point out that tree ring data show that America's West is prone to episodic mega-droughts that can last not for years but for decades.
Rather than waiting for more studies and more data to determine if the current drought conditions are natural, man-made, or a witch's brew of both, Overpeck and Udall say that planners and decision makers throughout the region need to identify and develop ways to adapt to significantly hotter and drier conditions.
A "no regrets" approach to planning requires that steps be taken soon to make the region and its burgeoning population sustainable within the likely range of climatic conditions during the next decades.
On a more positive note, the authors cite the region's vast potential for solar, wind and geothermal power production. Tapping these green resources, they say, may help the region pay for the inevitable costs of adapting to years or decades of drought.
For more details, click here to see my Suite101 story on this subject.
Robert Adler
for the institute
Monday, June 21, 2010
Monday, June 14, 2010
A new round has been fired in the long-running controversy about who first settled the Americas.
An international team of researchers compared the shape of more than 1100 skulls from South America, Asia and Australo-Melanesia dating from 11,500 years ago to the present. They found that they could account for the marked differences between the skulls of early and more recent Americans only if there were two founding waves of migration from Asia separated by several thousand years.
Their conclusions disagree with recent genetic studies, most of which conclude that just one wave of migration from eastern Asia can explain the genetic diversity of American indigenous groups.
Katerina Harvati, a paleoanthropologist at Eberhard-Karls University in Tübingen, Germany and one of the lead authors of the new study says that their results make the one-entry model improbable and refute the widely accepted argument that the differences between early and more recent indigenous Americans can be explained by genetic drift or other evolutionarily neutral processes.
“The two-migration model is the only one whose predictions matched the observed differences,” Harvarti says.
Morphing Skulls through Time and Space
Harvati, along with Mark Hubbe, at the Catholic University of the North, in Chile, Walter Neves, at the University of Sao Paulo, Brazil, used previously published measurements of 1178 skulls, including 69 from South America that were older than 7000 years—the largest sample ever studied--as the basis for their analysis.
Researchers have pointed out since the 1990s that the skulls of the earliest Americans, or Paleoamericans, differ markedly from those from more recent times and those of current indigenous groups, or Amerindians.
“Paleoamerican crania do not look particularly similar to recent Native American groups [but] similar to African and Australian populations,” says Harvati. “Whereas recent Americans resemble Asians more closely.”
Harvati and her colleagues found that for Amerindians to have descended directly from Paleoamericans would have demanded a very unlikely rate of change of skull shape “For the [one migration] scenario to have been true there would have had to have been some unique circumstances and strong selection pressure different from selection to climate,” says Harvati.
The one-entry model also predicts substantial correlations between how close two sets of skulls are geographically and how similar they are in shape. In contrast, if nearby populations descended from different founders, that correlation breaks down.
That’s just what the researchers found. Two founding waves reproduced the observed correlations significantly better than just one.
Controversial but Important
Ted Schurr, a molecular anthropologist at the University of Pennsylvania, finds the study worth paying attention to. Although his own genetic studies have suggested that a single expansion from Northeast Asia can explain the genetic variation among Native Americans, he does not rule out the group’s conclusions. . “I am willing to accept that there were pulses of migration into the Americas from Northeast Asia at different times, such that a pattern which Hubbe et al. identify might emerge,” he says.
Dennis O’Rourke, an anthropologist at the University of Utah, in Salt Lake City, Utah, agrees. “More recently, a number of genetic analyses have demonstrated that two, and perhaps more, migrations are more likely given the current understanding of genetic diversity in the Americas,” he says. “Contrasting the results from morphometric and molecular studies is one way to sharpen our perspective and refine hypothesis for future tests.”
It’s those further tests that Harvati and her colleagues hope to spur. “Currently there seems to be a gap in our understanding of the peopling of the Americas,” says Harvati. “I hope that our work will prompt others to revisit these questions with renewed interest and will help resolve that gap in our knowledge.”
Journal reference: Mark Hubbe, Walter A. Neves & Katerina Harvati, “Testing Evolutionary and Dispersion Scenarios for the Settlement of the New World,” PLoS ONE, 14 June 2010.
For a more detailed description of this research, click on my Suite101 article here.
Thursday, May 27, 2010
Knowing that I’m passionately concerned about climate change, a friend forwarded the following piece to me, something that apparently has been circulating on the internet. He added, “I don’t know if this is true, but it wouldn’t surprise me if it was.”
To respond to my friend, and because the piece contains many of the themes and distortions that seem to energize the anti-climate-change community, I wrote a detailed reply. You can read the commentary and my reply below:
-----------------------------------
The futility of man
Didn't we ALL know this but were just afraid to say something.....
All of you out there across the globe who have fought so hard to tackle the hideous enemy of our planet, namely carbon emissions, you know ....that bogus god you worship of "Climate Change" or "global warming" ....well, I feel it is necessary to inform you of some bad news. It really does pain me to have to bring you this disappointing information.
Are you sitting down?
Okay, here's the bombshell. The current volcanic eruption going on in Iceland, since its first spewing of volcanic ash this past week, has, to this point, NEGATED EVERY SINGLE EFFORT you have made in the past ten years to control CO2 emissions on our planet.
I know, I know.... (group hug)...it's very disheartening to realize that all of the carbon emission savings you have accomplished while suffering the inconvenience and expense of: driving Prius hybrids, buying fabric grocery bags, sitting up till midnight to finish your kid's "The Green Revolution" science project, throwing out all of your non-green cleaning supplies, using only two squares of toilet paper, putting a brick in your toilet tank reservoir, selling your SUV and speedboat, going on vacation to a city park instead of Yosemite, nearly getting hit every day on your bicycle, replacing all of your $1 light bulbs with $10 light bulbs, participating in "earth day" ...well, all of those things you have done have all gone down the tubes in just the past four days.
The volcanic ash emitted into the Earth's atmosphere in the past four days has totally erased every single effort you have made to reduce the evil beast, carbon. And, those hundreds of thousands of jobs you helped move to Asia with expensive emissions demands on businesses... you know, the ones that are creating even more emissions than when they were creating jobs here, well I just know that seems worthwhile now.
I'm so sorry. And I do wish I had a silver lining to this volcanic ash cloud but the fact of the matter is that the brush fire season will start in about two months and those fires will negate your efforts to reduce carbon in our world for the next two years.
But hey, grab a Coke, give the world a hug and have a nice day!
So true, and this has been going on thousands of years. Long, long, long before, combustion engines, or cattle herds were around to expel carbon dioxide. There is nothing new about climate change on Earth. It's been going on since the flood and it will be going on for years to come.
Man is not in control.
Only in arrogance... does he think he is.
---------------------------------------
Response to "The futility of man"
Dear _____,
I don't know who initiated this email, but please send my reply back down the line of email recipients.
Whoever is the author has a point--a lot of CO2 was emitted by this volcano, according to the best scientific estimates about 150,000 metric tons per day. The author does not include this quantitative figure, although knowing the actual amount is important.
The volcano to compare Eyjafjallajokull with is Pinatubo which in 1991 pushed somewhere around 42 million metric tons of CO2 into the air. So scientists refer to Eyjafjallajokull as only a "cough" in comparison.
Averaged over time, volcanoes pump some 200,000 metric tons of CO2 into the atmosphere every year while human activities contribute almost 30 billion metric tons--according to the US Energy Information Agency--almost 700 times as much.
It’s important to note that the author of this post doesn't claim that Eyjafjallajokull dwarfed human emissions, only that it surpassed the very small amount we have been able to cut back those emissions.
The meager success so far of the climate community to cut worldwide greenhouse gas emissions is due in large part to lack of public support which is due in large part to unsubstantiated information such as is presented in this email. One almost has to laugh at such logic. It’s a tragic example of a self-fulfilling prophecy.
A couple of other points need to be made.
The eruption of Eyjafjallajokul will have some warming and some cooling effects, both of which scientists are able to estimate. The estimated amount of CO2 reductions that came from flights being grounded due to the ash is 2.8 million metric tons, and it will take Eyjafjallajokull quite some time to make up for that.
Mt. Pinatubo actually lowered global temperatures by about one degree Celsius for most of two years because of the sulfur it placed up to 20 miles in the atmosphere (sulfer dioxide reflects sunlight and has been proposed as a geoengineering "solution" to global warming--not my choice for a number of reasons). But Eyjafjallajokull did not release as much sulfur as high as Pinatubo, so it will probably not contribute significantly to global cooling, just as it probably will not contribute much to global warming.
Charles Keating started very accurate measurements of CO2 in the atmosphere in 1959 and those measurements have continued to this day. They show a zig-zag pattern that reflects spring and summer decreases in CO2 while plants in the northern hemisphere are breathing it in, and increases in fall and winter when they are producing CO2, mostly through decay.
But Keating's chart shows an inexorable rise in emissions over the past half century. Comparing natural and human emissions, measured atmospheric CO2 did not increase due to Pinatubo in 1991 as much as decreased during times of economic recession--sort of like the aircraft being grounded, but more globally.
So compared with Pinatubo (they call the geoengineering idea of shooting sulfur into the upper atmosphere the "Pinatubo Option") Eyjafjallajokull was very small, and smaller still compared to human emissions.
So if you can get past phrases like “hideous enemy,” "bogus god" and "evil beast" which are designed to play to your emotions, and the “group hug” comment which is meant to categorize everyone concerned about climate change as, I suppose, soft-headed, overly emotional ex-hippies, stop for a while and investigate whether this hyperbole is based in fact, or whether its purpose is to make us all feel better while we—and more importantly the corporations that really profit from it--continue to engage in activities that emit significant amounts of CO2 into our atmosphere.
Because if science (by that I mean all the science academies in countries that have them, and all the meterological associations in the world) are right and we do have a serious problem on our hands, it may just be time to pay attention. It’s worth noting that Insurance companies, investors, and militaries on both sides of the Atlantic are taking climate change very seriously because their business is managing risk and they will take some of the biggest initial hits.
The future scientists forecast, if we do not lower emissions very quickly, will not be a pleasant one for our kids or their kids, or even for us--so let's check the facts.
One argument that this piece uses, and that appears over and over in similar pieces, is that climate change is nothing new. “It’s been going on since the flood and it will be going on for years to come.”
The implication, which is hardly ever spelled out, is that since there has been natural climate change—something that we know about in great detail because of the work of thousands of scientists—there can’t be human-caused climate change. Or, even if there is human-caused climate change, it can’t be important compared to natural changes.
That’s like saying that since lightning causes fires, people don’t. Try convincing youl fire department, police department, or insurance company of that one.
I’ve also noticed that a lot of the anti-climate-change pieces, like this one, say that it is arrogant to think that mere humans can have a significant impact on nature or Mother Earth. “Man is not in control. Only in arrogance . . . does he think he is,” this piece says.
The themes of humility before God and the ultimate futility of human understanding and action run very deep in most religions. The awesome power of God or nature is something that most people—even probably most scientists--would agree on. So tossing it into discussions about climate change can seem pretty convincing.
The trick is that the 6.8 billion people alive today, multiplied by all the mining, agriculture, industry, heating, cooling, transportation, etc. that keep us alive and support our lifestyles obviously are having huge impacts on the Earth, impacts that are easily seen and measured in terms of land use, water use, deforestation, depletion of fisheries, loss of biodiversity, and climate change.
We’re not at all humble about our lifestyles and what it takes to support them. So it seems very self-serving to suddenly be humble about taking responsibility for their impacts on the Earth. It reminds me not at all of humble, God-fearing adults but of spoiled children who feel free to make any kind of mess knowing that Mommy or Daddy will clean up after them.
Unfortunately, there’s nothing about the eruption of Eyjafjallajokull to suggest that we're not making a mess or that God is going to clean it up for us.
If you want more facts regarding climate change, please do not hesitate to let me know. There are lots of excellent books and articles on the subject, and I’ll be happy to refer you to them.
Lou Miller
Wednesday, May 19, 2010
How often it is that the angry man rages denial of what his inner self is telling him.
--Frank Herbert
Denial ain’t just a river in Egypt.
--Mark Twain
Whether or not Twain or Herbert ever read Freud, both writers would have seen and understood the inability or unwillingness to face reality or admit obvious truths that so characterizes the angry tone of our current debates.
More than just an “inconvenient truth” as Al Gore describes it, human-driven climate change challenges some of the most basic Western assumptions about progress and purpose. Not only does it threaten the dominance of deeply rooted and interrelated economic and political interests but the psychic structures and societal self-images which sustain them as well.
What will we become if our carbon-based economy in its multiple manifestations has to be phased out? What will be left of our identity if the glories of expansion, conquest and mastery have to give way to humble sustainability?
The confluence between powerful vested interests and psychologically driven denial and anger powers the regressive counter-reformation being mounted by climate skeptics, ideologues and their paid media flacks aimed at undermining and discrediting both the science of climate change and its scientific proponents.
Politicians like Sarah Palin and Jim Inhofe are adept at both fomenting and cashing in on this reservoir of frustration and anger, and so are savvy advertisers.
A telling twist to the anti-limits crusade is captured in a recent TV ad for the Mazda3. At the conclusion of the ad, a self-confident, slightly rebellious male voice vows, “I will not sacrifice fun at the altar of practicality.” The Canadian version runs, “Between fun and practicality there are victors and victims.”
The ad captures perfectly the anger aimed at public figures like Al Gore or Bill McKibben when they warn that because of climate change, environmental degradation, peak oil, or other limiting factors, we need to cut back now on our lavish, high consumption lifestyles.
Emotionally, which one do you want to be—fun-loving rebel or drab do-gooder, victor or victim?
Not surprisingly the dominant reaction seems to be to let someone else throttle back. It’s zoom-zoom-zoom for me. Fun as usual. Business as usual. CO2 as usual. Oil guzzling as usual. Environmental catastrophes as usual. And defiant anger at anyone who says otherwise.
What lies under the denial, beyond the anger? Just the quiet voice of that inner self. Hopefully, it will be heard.
Thursday, May 13, 2010
How would you like a beer? How about a beer company along with it?
On Thursday, the 6th of May, for a few minutes, you could have bought a delicious Sam Adams plus a substantial interest in its maker, the Boston Beer Company, all for the price of a pint. Boston Beer stock, along with dozens of others on the major U.S. stock exchanges, plummeted to zero, while the Dow Jones Industrial Average nosedived 700 points in a matter of minutes.
To the great relief of most traders and to anyone whose financial well being is linked even indirectly to the stock market—and that’s pretty much all of us--the market rebounded almost as quickly. Still, the wild ride left even seasoned traders in shock.
It’s hard to overstate how much value was at risk during this ten-minute event. As just one example, Exelon, a utility worth about $30 billion at 2:49 p.m. was worth nothing three minutes later. It’s estimated that one trillion dollars of value evaporated during the “flash crash.” That’s three times what the U.S. spends on public education per year, $300 billion more the U.S. government bailout of the banking system in 2008, and about equal to the current European package to rescue Greece.
The grab-your-airsick-bag crash and rebound was an anomaly, but that’s not the same as saying that it was an error, in the sense that it was caused by some specific mistake or malfunction.
Economist and market analyst John Hussman points out that U.S. stock markets have hit similar “air pockets”-- in 1955, 1987 and 1999. Like the Thursday event, those episodes resulted in roughly ten percent losses. The big difference is that they played out over weeks rather than minutes.
Since the Thursday debacle there’s been no shortage of fingerpointing.
Early speculation centered on a so-called “fat-fingered trade” as the trigger for the selloff. Instead of offering to sell a few million shares of Procter and Gamble, rumor had it that a trader mistakenly put up a few billion shares. Lacking buyers, the stock tumbled, starting a panic that took the rest of the market down with it.
The theory got a lot of attention, but like the infamous weapons of mass destruction in Iraq, there’s no evidence for it.
The most recent theory is that as the market started to drop, a particular hedge fund placed a $7.5 million bet that it would continue to fall. Other hedge funds immediately followed its lead, pushing the market over a cliff. Do lemmings come to mind?
One suspect that most market gurus agree on is high frequency trading. Multiple firms now trade using high speed computers linked directly to the stock exchanges. These constantly analyse massive amounts of data and exploit fleeting opportunities by buying and sell huge quantities of stocks and futures in milliseconds. Experts estimate that these automated agents now make from sixty to seventy percent of all trades.
The existence of these computerized agents goes a long way towards explaining what happened, and the absence of an identifiable trigger.
If there’s one thing we’ve learned about complex systems since chaos theory pioneer Edward Lorenz popularized the idea of the “butterfly effect” in the 1960s, it’s that they are capable of amplifying the tiniest perturbation to virtually any scale. It takes just one last snowflake to unleash an avalanche.
The stock market is a classic example of a highly dynamic system driven by multiple independent but interacting agents. One state it’s capable of occupying—what system theorsists refer to as an attractor-- is when the tug of war between buyers and sellers arrives efficiently at a stock’s current value. That’s the state that economists tell us represents the stock market’s raison d’etre.
It would be great if that were the only way the system functions. Unfortunately, history shows that the stock market can also wander into at least two other states or attractors. It’s prone to huge bubbles, in which contagious enthusiasm drives the prices of most stocks well above their “true” value, and, as we’ve just seen, “air pockets”, in which contagious panic does the opposite.
That was bad enough when human traders were the ones calling the shots. Presumably they had some sense that a company valued at $30 billion one minute couldn’t really be worth zero a few minutes later. Their interaction led to dramatic booms and busts, but at least these had believable tops and bottoms and unfolded on a human time scale.
Over the years the markets have instituted various fixes to try to keep the market from stumbling into its most unattrractive attractors. After the global “Black Friday” market crash of 1987, The New York Stock Exchange, for example, put in place “circuit breakers”—trading curbs that snapped into place when the market fell too quickly that were supposed to slow panic selling and so prevent a full-scale crash.
Some market analysts are blaming the circuit breakers themselves for the Thursday meltdown. They think that when the NYSE circuit breakers clicked in, the effect was to shunt the flood of sell orders to other markets that were even less able to find buyers for them .
(Just as a star needs to maintain a continuous flux of nuclear fusion to keep from collapsing under the force of gravity, stock markets need to maintain a continuous matching of sellers and buyers. If there are no buyers, stock prices start to fall. We now know that computerized trading can drive a sagging stock to zero in minutes, and can threaten to implode the entire market).
The circuit-breaker problem has gained traction. Six major exchanges have now agreed to strengthen and coordinate their circuit breakers. New rules are currently being negotiated and should be in place within a few weeks.
Those fixes may be good ideas, but they almost certainly are nothing but temporary patches. The system remains as complex, dynamic, and unpredictable as ever. It’s still shuttling hundreds of billions of dollars form buyers to sellers at inhuman speeds every day, impelled not just by humans vacillating between greed and fear, but increasingly by computerized agents impelled by abstruse algorithms. There’s no “beta testing” for these patches, which leaves all of us as guinea pigs in a very high-risk experiment.
Regulators and investors would like to believe that the proposed fixes will result in an efficient, reasonably stable market. I think it’s more accurate to view the market as something like a manic-depressive chef on speed—brilliant at what it does but capable of cooking up a disaster at any time.
Thursday's collapse and rebound, and the current fix-it-on-the-fly patches, ought to make normal investors think hard about their nesteggs. Harry Truman's aphorism about politics seems even more appropriate for investors. "If you can't stand the heat, get out of the kitchen."
Robert Adler
For the institute
Monday, May 03, 2010
Let's BOINC!
If that sounds like fun to you, then I suggest you click on over to the BOINC Project at http://boinc.berkeley.edu/. BOINC stands for the Berkeley Open Infrastructure for Network Computing. It's an easy-to-use interface that links your computer, along with thousands of others, with one or more research projects of your choice that require enormous computing capacity but can't afford to buy time on a supercomputer.
By dividing computations into lots of small pieces and distributing those pieces to hundreds of thousands of small computers to work on when they would otherwise be idling, BOINC creates an amazingly powerful virtual supercomputer, of which your desktop, laptop or even your PlayStation can be a part. You can do this individually, or, just to add to the fun, join an existing team or create a new one.
As I write this, BOINC has 573173 computers humming away, with a combined capacity of 5.552 petaflops. (A petaflop is a million billion--10 to the 15th--floating point operations per second.) That makes the BOINC network three times faster than the world's current fastest stand-alone supercomputer, the Cray XT5 Jaguar. Not bad for a bunch of volunteers!
In a few minutes you can download BOINC to your computer and chose from among 36 projects that tap into the BOINC network. These cover a remarkable range of scientific challenges, including helping CERN's Large Hadron Collider determine stable orbits for the particles it's accelerating and smashing together (LHC@home), detecting gravitational waves from neutron stars (Einstein@home), studying the evolution of our home galaxy (Milkyway@home) or of the entire universe (Cosmology@home), figuring out how best to stop the spread of malaria (Malariacontrol.net), protein structure and function (Rosetta@home), comparing climate models (Climateprediction.net), and dozens of others.
I've picked two so far--Einstein@home, looking for gravitational waves, and SETI@home, looking for technologically-created signals from outside our solar system. A few minutes after I stop working at my laptop, one of these programs automatically starts up. If I wander by after a bit I'll find one of their colorful displays on the screen, along with an indication of how much calculational support I've contributed to that product so far.

The next two on my list are Malariacontrol.net and either Milkyway@home or Cosmology@home.
BOINC-ing turns out to be ridiculously easy, fun, and it lets me contribute effortlessly to important scientific research. What more can I say except let's BOINC!
Robert Adler
for the institute
Thursday, April 08, 2010

photo by Brett Eloff, courtesy Lee Berger, Univ. of Witwatersrand
Saturday, March 06, 2010
The consequences are even more rapid, unpredictable flows of energy producing unseasonable storms, unusual shifts in the deep currents of political organization, further melting of established structures--in general, increased overall instability and therefore mistrust in and reactions against systems, leaders, 'elites' and accepted understandings in general.
This helps explain the wild swings in popular opinion ranging from the high of unrealistic 'hope' in 2008 which led to Obama's election, to the current low of disillusion and despair, scarcely a year later, when unreal expectations have been unfulfilled.
The responses on the right, anti-evolution, anti-climate change, anti-science--and anti-historical, as the founders are now being portrayed as believers in a 'Christian' nation--all fall under the heading of "denial." Denying the realities of an increasingly globalized, wired, mediated, environmentally-challenged world in which the accepted truths: American dominance, economic growth, expectations for the future, economic and military 'security', cultural values, faith in traditional leaders are all crumbling.
Thus the grasping for simple answers, the popularity of people like Palin, Beck, and others. Are they really different from the Huey Longs, Dr. Townsends, Charles Lindberghs, Father Coughlins of the 30's, or the Free Silver and Single Taxers of the 1890's? The question for us, however, --and increasingly for the planet as a whole---is whether the political system can adjust and stabilize again, as it did through Progressive and New Deal reforms, or whether, like the climate, we've passed the 450 point, after which there is no return from growing unpredictability and instability.
Thursday, March 04, 2010
Tuesday, January 19, 2010

REA for the institute
Friday, December 18, 2009
The already threatened gorillas of Africa are likely to be wiped out by even the two degree Celsius temperature rise set in Copenhagen today as one of the goals of the world community.Thursday, September 24, 2009
Vast underground ice sheet found on MarsI've just finished listening to a NASA press conference announcing that nearly half of Mars has a layer of nearly pure ice just under its surface.
The NASA scientists estimate that this represents about one million cubic kilometers of ice, or about twice the amount of ice that covers Greenland here on Earth.
The Martian ice was exposed to view by meteorites that blasted out small craters--a few meters in diameter and from half a meter to two-and-a-half meters deep--and, much to the scientists' surprise, revealed a layer of 99 percent pure ice that they think ranges from 1 to 10 meters (33 feet) thick.
Three different instruments in orbit around Mars on the Mars Reconnaissance Orbiter allowed the scientists to detect five newly formed craters, photograph bright, bluish-white material in or splashed out around them, material that quickly faded away during the Martian summer, and finally identify that material as nearly pure water ice by its spectrum.
"We found a beautiful water ice signature," said Selby Cull, from the Compact Reconnaisance Imaging Spectrometer for Mars team. "Crystal-clear-no-doubt-about-it water ice."
The ice is amazingly recent--around 10,000 years old--the scientists say. It dates from a period when Mars was wetter and had much more water vapor in its atmosphere than it does today.
According to the researchers, the discovery sheds light on the recent climate history of Mars, during which water vapor has shuttled out from and back to the polar regions as the Martian climate has warmed and cooled due to changes in the amount of sunlight the planet receives.
This plus earlier studies have led scientists to conclude that Mars had far more water in the distant past--several billion years ago--but has cooled and dried out over time. Some of the water is now locked up in minerals, some has been lost to space, and some remains in the form of ice.
Mars is now too cold, and its atmosphere is too thin, to allow liquid water to exist at the surface. However, these new findings suggest that water may still percolate underground, coalescing to form these newly discovered underground ice sheets.
Ironically, the Viking II spacecraft landed in the region where this ice was found in 1976, and scraped down into the soil, but not quite deep enough to find the ice.
"If Viking II had been able to dig down a few more inches, we could have made this discovery 30 years ago," said Shane Byrne, with the High Resolution Imaging Science Experiment.
The NASA scientists say they were not surprised to find ice under the surface of Mars, but were amazed to find that it was so pure. "We expected it to be a 50-50 mix of ice and dust," Byrne said. This has sent them back to their blackboards to try to explain what they found.
It may be decades or even centuries before humans set foot on Mars. The good news is that when we do get there, there will be plenty of water waiting for us just under Mars' cold and dusty surface.
Robert Adler
for the institute
Monday, September 14, 2009
Saturday, July 11, 2009
Comment: No defense to torture
Robert Adler
for the institute
Friday, May 15, 2009
This is the second in a series of "Road Sign" commentaries designed to bring under-noticed events that may turn out to be of global significance to public attention.
Road Signs: Climate change
Kiss your coastline goodbye
Climate scientists have predicted for many years that rising sea levels caused by melting ice and warming oceans will threaten and eventually inundate low-lying islands and coastlines—including parts of Florida, the Eastern and Western seaboards of the U.S., and the Gulf coast.
Worldwide, large coastal cities, home to hundreds of millions of people, are at risk.
Residents of Pacific islands such as Kiribati have already seen the ocean erode beaches and kill crops, and have understandably been among the most vocal advocates for global action to slow human-caused climate change.
Now, however, the Carteret Islands off the coast of Papua New Guinea have become the unfortunate poster child for climate change. As reported in The Guardian/UK, the Carteret’s 2600 inhabitants are in the process of abandoning the island, their ancestral home, to the encroaching Pacific. They are being moved, five or ten families at a time, to Bougainville, also part of Papua New Guinea.
Given that millions of people have been displaced over the centuries because of floods, droughts and famines, the inhabitants of the Carterets are not the first climate-change refugees, nor even the first to be displaced by human activities—human-caused deforestation and desertification have been taking place for centuries.
They are, however, the first community who, as a whole, are being uprooted due to one of the predicted impacts of modern, man-made climate change.
Since atmospheric carbon dioxide levels are rising more rapidly than ever, ice in Antarctica and elsewhere is melting even faster than predicted, and atmospheric and oceanic warming are expected to create stronger and more destructive hurricanes and storm surges, the residents of the Carterets will definitely not be the last climate change refugees this century.
We ignore their plight at our peril.
Robert Adler
for the institute
