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Good synopsis of the big picture by Michel

"Three-axis distributed fiber optic strain measurement in 3D woven composite structures   Paper 8690-6 Time: 1:50 PM - 2:10 PM Author(s): Matt Castellucci, Evan M. Lally, Sandra Klute, Luna Innovations Inc. (United States); David Lowry, NASA Johnson Space Ctr. (United States) Hide Abstract Add to My Schedule  Recent advancements in composite materials technologies have broken further from traditional designs and require advanced instrumentation and analysis capabilities. Success or failure is highly dependent on design analysis and manufacturing processes. By monitoring smart structures throughout manufacturing and service life, residual and operational stresses can be assessed and structural damage identified. Composite smart structures can be manufactured by integrating fiber optic sensors into existing composite materials processes such as layup, filament winding and three-dimensional weaving. In this work optical fiber was integrated into 3D woven composite parts at a commercial woven products manufacturing facility. The fiber was then used to monitor the structures during a VARTM manufacturing process, and subsequent static and dynamic testing. Low cost telecommunications-grade optical fiber acts as the sensor using a high resolution commercial Optical Frequency Domain Reflectometer (OFDR) system providing distributed strain measurement at spatial resolutions as low as 2mm. Strain measurements using the optical fiber sensors are correlated to resistive strain gauge measurements during static structural loading."

While it may sound like the stuff of science fiction, Jansen isn't the only one to take notice of just how useful a real functioning tricorder would be - especially as a medical tool. Telecommunications giant Qualcomm Inc this year launched the "Tricorder X-Prize Contest" with the slogan "Healthcare in the palm of your hand." Qualcomm hopes to motivate developers with a $10 million prize to make medical tricorders a reality. Wanda Moebus of the Advanced Medical Technology Association, who is not affiliated with Jansen or Qualcomm, told Reuters the X-Prize "is really cool," but cautioned that making a real medical tricorder device "would have to be measured on its safety and effect, like all other medical technologies." Jansen said he has been approached by "a couple of teams" about the X Prize, but added that his prototypes are more for science research than medical tools. Besides, he said he already is on to his next frontier, making a sort of "replicator," another "Star Trek" device that will create 3D objects and foods that are dimensional copies of real items. Jansen's "replicator" is a 3D printer, which in itself is not really new, but the scientist thinks about it in terms reminiscent of "Star Trek's" famous prologue. It's "like nothing we've ever seen before," Jansen said.

"The reason for this is that credit is merely one way by which a society manages the distribution of goods and services. . . . A credit collapse . . . doesn't make the energy, raw materials, and labor vanish into some fiscal equivalent of a black hole; they're all still there, in whatever quantities they were before the credit collapse, and all that's needed is some new way to allocate them to the production of goods and services." and  "Better would be to have an alternative system in place and ready to implement before the boom drops." taken together may imply something other than the article's proposed solution of  "On a national level, when the Wall Street credit system fails, the government can turn to the innovative model devised by our colonial forebears and start issuing its own currency and credit-a power now usurped by private banks but written into the US Constitution as belonging to Congress"

So how do we finance something that is extremely valuable both for individuals and for society - something that, in most cases, should happen, but often won't happen because the risks are too high? The best way is to spread the risk. That's how insurance works. In Lumni's case, students share the risk with investors, who make more or less based on how well the students do. But they also share it with one another. Lumni pools its investments into funds to balance out the risks. They know that some students will run into difficulties, some will achieve average success, and some will do very well - but they don't know in advance how any individual student will fare. And students don't know this themselves. Through diversification, however, their funds can achieve stable returns. What this means is that the students who have the biggest problems benefit the most. And, in effect, those who decide to become investment bankers end up subsidizing the ones who decide to become social workers. Since a good society needs many different roles fulfilled, everyone benefits. That, at least, is the theory. Economists are skeptical about human capital contracts - which were first proposed by Milton Friedman in the 1950s - because they have many potential problems and little track record. But Lumni seems to be making them work - at least on a small scale. Whether it can succeed at a larger level remains to be seen.

"Specific Challenge: The challenge is to provide support to a large set of early stage high risk innovative SMEs in the ICT sector. Focus will be on SME proposing innovative ICT concept, product and service applying new sets of rules, values and models which ultimately disrupt existing markets."