TOK Friends

er parents divorced when she was a toddler, and she was raised in a crowded Brooklyn apartment by her mother, her mother’s sister and her grandparents, all of whom unstintingly adored her

“Four loving adults had made me the center of their lives

Always the smartest kid in the room (she was a remarkable test-taker), Turkle flourished early as an intellectually confident person, easily winning a scholarship to Radcliffe, support for graduate school at Harvard

Newly graduated from Radcliffe, she was in Paris during the May 1968 uprising and was shocked by the responses of most French thinkers to what was happening in the streets

Each in turn, she observed, filtered the originality of the scene through his own theories.

Few saw these galvanizing events as the demonstration they so clearly were of a hungry demand for new relations between the individual and society.

The anecdotes that illustrate this marriage encapsulate, in an inspired way, the dilemma Turkle has spent her whole life exploring:

My interests were moving from ideas in the abstract to the impact of ideas on personal identity. How did new political ideas change how people saw themselves? And what made some ideas more appealing than others?”

For the people around her, it embodied “the science of getting computers to do things that would be considered intelligent if done by people.” Nothing more exciting. Who could resist such a possibility? Who would resist it? No one, it turned out.

“The worst thing, to Seymour,” she writes, would have been “to give children a computer that presented them only with games or opaque applications. … A learning opportunity would be missed because you would have masked the intellectual power of the machine. Sadly, this is what has happened.”

In a memoir written by a person of accomplishment, the interwoven account of childhood and early influences is valuable only insofar as it sheds light on the evolution of the individual into the author of the memoir we are reading.

with Turkle’s story of her marriage to Seymour Papert her personal adventures struck gold.

“good conversation” was valued “more highly than common courtesy. … To be interesting, Seymour did not have to be kind. He had to be brilliant.” And if you weren’t the sort of brilliant that he was, you were something less than real to him.

electrified

the rupture in understanding between someone devoted to the old-fashioned practice of humanist values and someone who doesn’t know what the word “human” really means.

She was 104.

Always sympathetic, never condescending, she presented her readers with characters they knew and understood, the 20th-century equivalents of Huck Finn or Louisa May Alcott’s little women, and every bit as popular: Her books sold more than 85 million copies

“Cleary is funny in a very sophisticated way,

At her library job in Yakima, Ms. Cleary had become dissatisfied with the books being offered to her young patrons

The protagonists tended to be aristocratic English children who had nannies and pony carts, or poor children whose problems disappeared when a long-lost rich relative turned up in the last chapter.

“I wanted to read funny stories about the sort of children I knew,” she wrote, “and I decided that someday when I grew up I would write them.”

After marrying Clarence Cleary, a graduate student she had met at Berkeley, she moved to San Francisco and, while her husband served in the military, sold children’s books at the Sather Gate

Book Shop in Berkeley and worked as a librarian at Camp John T. Knight in Oakland.

“She gets very close to satire, which I think is why adults like her, but she’s still deeply respectful of her characters — nobody gets a laugh at the expense of another. I think kids appreciate that they’re on a level playing field with adults.”

She had been particularly touched by the plight of a group of boys who asked her, “Where are the books about us?”

“Why didn’t authors write books about everyday problems that children could solve by themselves?”

“Why weren’t there more stories about children playing? Why couldn’t I find more books that would make me laugh? These were the bo

oks I wanted to read, and the books I was eventually to write.”

“When I began ‘Henry Huggins’ I did not know how to write a book, so I mentally told the stories that I remembered and wrote them down as I told them,”

Ramona Quimby, introduced in a small role as the annoying younger sister of Henry’s friend Beatrice, better known as Beezus, emerged as a superstar.

“I thought like Ramona, but I was a very well-behaved little girl.”

By the time “Beezus and Ramona” was published, Ms. Cleary had twins, Malcolm and Marianne, to provide her with fresh material. They survive her, along with three grandchildren and one great-grandchild. Her husband died in 2004.

Ramona mounts a campaign to have her father quit smoking, a habit he abuses after losing his job.

That book won the Newbery Medal in 1984. A sequel, “Strider,” followed in 1991.

“That little girl, who has remained with me, prevents me from writing down to children, from poking fun at my characters, and from writing an adult reminiscence about childhood instead of a book to be enjoyed by children.”

Kaitlyn Greenidge learned about the first Black woman to become a doctor in New York. “I filed it away and thought, if I ever got a chance to write a novel, I would want it to be about this,” she said.

Libertie, the rebellious heroine of Kaitlyn Greenidge’s new novel, comes from an extraordinary family, but longs to be ordinary.

As a young Black woman growing up in Reconstruction-era Brooklyn, Libertie is expected to follow in the footsteps of her trailblazing mother, a doctor who founded a women’s clinic.

“So much of Black history is focused on exceptional people,”

I wanted to explore is, what’s the emotional and psychological toll of being an exception, of being exceptional, and also, what about the people who just want to have a regular life and find freedom and achievement in being able to live in peace with their family — which is what Libertie wants?”

“If you come from a marginalized community, one of the ways you are marginalized is people telling you that you don’t have any history, or that your history is somehow diminished, or it’s very flat, or it’s not somehow as rich as the dominant history.”

“That idea of being the first and the only was a big piece of our experience,”

They are engaged in ongoing conversations about their writing, though they draw the line at reading and editing drafts of one another’s work.

Libertie

The novel has drawn praise from writers like Jacqueline Woodson, Mira Jacob and Garth Greenwell, who wrote in a blurb that Greenidge “adds an indelible new sound to American literature, and confirms her status as one of our most gifted young writers.”

raised by a single mother who struggled to support the family on her social worker’s salary,

“I’ve always been interested in the histories of things that are lesser known,”

“There’s a really powerful lyricism that feels new in this voice,”

Greenidge and her sisters developed a reverence for storytelling and history early on, when their parents and grandparents would tell stories about their ancestors and what life was like during the civil rights movement.

“That fracture was really formative for me,” she said. “It made me hyper aware of inequality and the doublespeak that goes on in America around the American dream and American exceptionalism, because that was proven to me not to be true.”

Greenidge was collecting stories from people whose ancestors had lived there, and tracked down a woman named Ellen Holly, who was the first Black actress to have a lead, recurring role on daytime TV, in “One Life to Live.”

Greenidge filed the family’s saga away in her mind, thinking she had the premise for a novel. When she got a writing fellowship, she was able to quit her side jobs and immerse herself in the research the novel required.

The resulting story feels both epic and intimate. As she reimagined the lives of the doctor and her daughter, Greenidge wove in other historical figures and events.

In one horrific scene, Libertie and her mother tend to Black families who fled Manhattan during the New York City draft riots.

Greenidge also drew on her own family history, and her experience of being a new mother.

Her daughter, Mavis, was born days after she finished a second draft of the book, and is now 18 months old. She finished revisions while living in a multigenerational household with her own mother and sisters.

“Mother-daughter relationships are like the central relationships in my life,”

“I cannot think of a greater freedom than raising you,”

The trial’s first participants, a pair of 9-year-old twin girls, were immunized at Duke University in North Carolina on Wednesday.

Immunizing children will help schools to reopen as well as help to end the pandemic, said Dr. Emily Erbelding, an infectious diseases physician at the National Institutes of Health who oversees testing of Covid-19 vaccines in special populations.

An estimated 80 percent of the population may need to be vaccinated for the United States to reach herd immunity, the threshold at which the coronavirus runs out of people to infect.

“we were encouraged by the data from the 12 to 15 group,

Scientists will test three doses of the Pfizer vaccine — 10, 20 and 30 micrograms — in 144 children. Each dose will be assessed first in children 5 through 11 years of age, then in children ages 2 through 4 years, and finally in the youngest group, six months to 2 years.

After determining the most effective dose, the company will test the vaccine in 4,500 children

“It sounds like a good plan, and it’s exciting that another Covid-19 vaccine is moving forward with trials in children,”

Children represent 13 percent of all reported cases in the United States.

More than 3.3 million children have tested positive for the virus, at least 13,000 have been hospitalized and at least 260 have died

“We don’t know what the long-term effects of Covid infection are going to be,” Dr. Maldonado said.

Other vaccines have helped to control many horrific childhood diseases that can cause long-term complications, she added: “For some of us who’ve seen that, we don’t want to go back to those days.”

“So there’s a higher degree of confidence now in giving this vaccine to kids.”

“The more transparent you can be, the better.”

“The social isolation since then, over all this time, it just got to him,”

“This is a charming, funny kid, also sensitive and anxious,” she said. “He couldn’t find a job; he couldn’t really go out. And he started using marijuana again, and Xanax.”

The teenager’s frustration finally boiled over this month, when he deliberately cut himself.

The doctors sent him home, she said, “with no support, no therapy, nothing.”

Surveys and statistics show that for young people who are anxious by nature, or feeling emotionally fragile already, the pandemic and its isolation have pushed them to the brink

Rates of suicidal thinking and behavior are up by 25 percent or more from similar periods in 2019, according to a just-published analysis of surveys of young patients coming into the emergency room.

For these teenagers, there aren’t many places to turn.

Finally, when a crisis hits, many of these teenagers end up in the local emergency department — the one place desperate families so often go for help.

“This is a national crisis we’re facing,”

For the young people coming undone, however, pandemic life presents unusual challenges, pediatricians say

“What parents and children are consistently reporting is an increase in all symptoms — a child who was a little anxious before the pandemic became very anxious over this past year,”

“This giant boy, crying — it’s terrible to see.” The young man has had panic attacks, twice followed by a blackout. During one, he fell and injured his face.

These young people do not necessarily qualify for a psychiatric diagnosis, nor are they “traumatized” in the strict sense of having had a life-threatening experience (or the perception of one).

Rather, they are trying to manage an interruption in their

The result is grief, but grief without a name or a specific cause, an experience some psychologists call “ambiguous loss.”

“Everything that used to be familiar and give structure to their lives, and predictability, and normalcy, is gone,” said Sharon Young, a therapist in Hendersonville. “Kids need all these things even more than adults do, and it’s hard for them to feel emotionally safe when they’re no longer there.”

Nationwide Children’s Hospital in Columbus, Ohio, has an emergency department that is a decent size for a pediatric hospital, with capacity for 62 children or adolescents

“This was huge problem pre-pandemic,” said Dr. David Axelson, chief of psychiatry and behavioral health at the hospital. “We were seeing a rise in emergency department visits for mental health problems in kids, specifically for suicidal thinking and self-harm. Our emergency department was overwhelmed with it, having to board kids on the medical unit while waiting for psych beds.”

“We have to say no,” Dr. Axelson said.

Like many other parents, she is now looking after an unstable child and wondering where to go next. A drug rehab program may be needed, as well as regular therapy.

“Covid has put our system under a microscope in terms of the things that don’t work,”

“We had a shaky system of care in pediatric mental health prior to this pandemic, and now we have all these added stressors on it, all these kids coming in for pandemic-related issues. Hospitals everywhere are scrambling to adjust.”

lockdowns in Britain dragged on and no job emerged, the young man grew cynical and self-conscious, his sister Yasmin said.

Mr. Morgan was “exceptionally careful” about her health.

But days before the end of his quarantine last month, Mr. Morgan, 25, took his own life.

“He just sounded so deflated,” his sister said of their last conversation, adding that he said he felt imprisoned and longed to go outside.

“The cost of the pandemic was my brother’s life,” she said. “It’s not just people dying in a hospital — it’s people dying inside.”

Editors’ Picks

More than 2.7 million people have died from the coronavirus — and at least 126,000 in Britain alone

Those numbers are a tangible count of the pandemic’s cos

public health officials in some areas that have seen a surge of adolescent suicides have pushed for schools to reopen, although researchers say it is too early to conclusively link restrictions to suicide rates.

But bereaved families of young people who have died during the pandemic are haunted by questions over whether lockdowns — which not only shut stores and restaurants but required people to stay home for months — played a role.

They are calling for more resources for mental health and suicide prevention.

“Mental health has become a buzzword during the pandemic, and we need to keep it that way,”

While people may have felt a sense of togetherness during the first lockdowns, that feeling began to wear thin for some as it became clear that restrictions were hitting disadvantaged groups, including many young people, harder.

“If you are a young person, you are looking for hope,”

“But the job market is going to be constrained, and opportunities to build your life are going to be slimmer.”

“Imagine a young person in a small room, who takes their course online and has limited social life due to restrictions,”

“They may be tempted to consume more drugs or drink more alcohol, and may have less physical activity, all of which can contribute to symptoms of depression, anxiety and poor sleep.”

“We would ask him if he was depressed, and he would say, ‘Depressed? I don’t know what depressed is, I don’t think I am. I feel bored, but I don’t feel depressed,’”

“With the pandemic, the things that spiced his life, that made it worth going to school, were gone,” he added.

After a series of lockdowns in Britain last year, one suicide hotline for young people, Papyrus, saw its calls increase by 25 percent, in line with an increase of about 20 percent each year.

“Lockdown put Lily in physical and emotional situations she would never have in normal times.”

“It’s OK for a young child to fall over and let their parents know that their knee hurts,” Ms. Arkwright said. “This same attitude needs to be extended to mental health.”

People should be praised for adapting and finding resilience during these difficult times, Mr. Flynn said. “Even the need to reach out to a help-line shows resilience,” he said, adding that considering the circumstances, many people were doing “really well.”

Revisiting your youth culture when your own youth has mostly fled is an exercise in estrangement and mild humiliation, like running into your therapist at Victoria’s Secret.

“We didn’t know what it was going to be,” the journalist and activist Kevin Powell, one of the original roommates, says in the first episode of “Homecoming.” “We were just ourselves.”

by agreeing to the constant presence of producers and cameras, were the harbingers of today’s culture, in which self-image is shaped in the expectation of a lens and personhood collates with brand identity.

Moon Frye seems to have known every other child star in Los Angeles and its outlying counties: Sara Gilbert, Emmanuel Lewis, Brian Austin Green, Mark-Paul Gosselaar, Joey Lawrence, Jenny Lewis (hilarious) and at least a dozen more.

These were children valued less for who they were and more for the fandom and ads they could generate, the tickets they could sell

Today, that’s everyone with an Instagram account, potentially.

“Kid 90” also reminds us that until pretty recently, the dumb things teenagers wore and the dumber things they did and said didn’t have an afterlife, because there were few ways to record them and even fewer ways to disseminate those recordings.

I was, unconvincingly, so many people as a teenager — a rebel, a sophisticate, a drama nerd, a go-getter, a witch.

The comedy of adolescence is that it’s practice for adulthood. The tragedy is that adolescents practice on one another

I’m unutterably grateful that my own mortifications — lines like, “I’m not a feminist, I’m really more like a humanist,”

Moon Frye seems to have also struggled with her image and with how the industry treated her when her body began to diverge from Punky’s

In an agonizing section of the documentary, she talks about going through puberty, developing breasts and being seen, at 13 and 14 years old, only for bimbo-esque roles.

Peers called her Punky Boobster.

“It’s hard when you’ve got boobs and you can’t work in this business,”

What if the business is the problem and not children’s bodies?

She wanted serious roles, so at 15, she had breast reduction surgery.

A crucial aspect of adolescence is performance

I could try on a persona for size and then return it, tags on

There was no social media then and no one wanted me on any reality series, so I never had to curate a self before I had one.

What would I have done for likes? What would that have made me?

Like Moon Frye and a lot of girls with big feelings and poetic inclinations, I kept diaries as a teenager. I’ve never gone back and read them. Why? I’m afraid that I might be embarrassed by my younger self or that she might be embarrassed by boring, wine-mom me

But I hope we’d get along. And then we could take a kiss-face selfie together, filter it, Facetune it, post it with some cute caption and watch the little hearts roll in.

Maybe not, according to an admonitory new study of the molecular effects of high-intensity interval training

suggesting that the benefits of extremely vigorous exercise may depend on just how much we do.

for example, that intense bursts of exercise increase the number of mitochondria in our muscle cells, and more mitochondria are thought to contribute to better cellular and metabolic health.

HIIT also may have unexpected downsides. In a study I wrote about in January, people who worked out with HIIT routines three times a week for six weeks did not improve their blood pressure or body fat as much as people who exercised far more moderately five times a week.

by being sedentary for four days each week, the intense exercisers in the study may have undermined the otherwise potent effects of their HIIT sessions.

These volunteers visited the researchers’ lab for tests of their current fitness and metabolic health, including blood-sugar levels over the course of a day.

Then they compared how people’s bodies had changed week over week.

At first, the findings were encouraging. By the end of week two, the riders were pedaling harder and appeared to be getting fitter, with better daily blood-sugar control and more total mitochondria in their muscle cells.

But something began to go wrong during week three. The volunteers’ ability to generate power while cycling flattened, and their subsequent muscle biopsies showed sputtering mitochondria, each of which was now producing only about 60 percent as much energy as during the previous week. The riders’ blood-sugar control also slipped, with se

The researchers are not sure precisely what changes within their volunteers’ bodies and muscles precipitated the negative results in week three.

Even so, the findings strongly suggest that anyone interested in high-intensity interval training start small, Mr. Flockhart says. Train a few times a week and on the remaining days, maybe take a walk.

Shigir Idol

Dug out of a peat bog by gold miners in 1890, the relic, or what’s left of it, is carved from a great slab of freshly cut larch.

Scattered among the geometric patterns (zigzags, chevrons, herringbones) are eight human faces, each with slashes for eyes that peer not so benignly from the front and back planes.

“Whether it screams or shouts or sings, it projects authority, possibly malevolent authority. It’s not immediately a friend of yours, much less an ancient friend of yours.”

In archaeology, portable prehistoric sculpture is called “mobiliary art.”

The statue’s age was a matter of conjecture until 1997, when it was carbon-dated by Russian scientists to about 9,500 years old, an age that struck most scholars as fanciful.

The statue was more than twice as old as the Egyptian pyramids and Stonehenge, as well as, by many millenniums, the first known work of ritual art.

A new study that Dr. Terberger wrote with some of the same colleagues in Quaternary International, further skews our understanding of prehistory by pushing back the original date of the Shigir Idol by another 900 years, placing it in the context of the early art in Eurasia.

“During the period of rapid cooling from about 10,700 B.C. to 9,600 B.C. that we call the Younger Dryas, no beavers should have been around in the Transurals,” he said.)

Written with an eye toward disentangling Western science from colonialism, Dr. Terberger’s latest paper challenges the ethnocentric notion that pretty much everything, including symbolic expression and philosophical perceptions of the world, came to Europe by way of the sedentary farming communities in the Fertile Crescent 8,000 years ago.

“It’s similar to the ‘Neanderthals did not make art’ fable, which was entirely based on absence of evidence,

Likewise, the overwhelming scientific consensus used to hold that modern humans were superior in key ways, including their ability to innovate, communicate and adapt to different environments.

Nonsense, all of it.”

makes it clear that arguments about the wealth of mobiliary art in, say, the Upper Paleolithic of Germany or France by comparison to southern Europe, are largely nonsensical and an artifact of tundra (where there are no trees and you use ivory, which is archaeologically visible) versus open forest environments

The Shigir Idol, named for the bog near Kirovgrad in which it was found, is presumed to have rested on a rock base for perhaps two or three decades before toppling into a long-gone paleo-lake, where the peat’s antimicrobial properties protected it like a time capsule.

“It was not a scientific construction,”

“The rings tell us that trees were growing very slowly, as the temperature was still quite cold,”

Dr. Terberger respectfully disagrees.

“The landscape changed, and the art — figurative designs and naturalistic animals painted in caves and carved in rock — did, too, perhaps as a way to help people come to grips with the challenging environments they encountered.”

And what do the engravings mean? Svetlana Savchenko, the artifact’s curator and an author on the study, speculates that the eight faces may well contain encrypted information about ancestor spirits, the boundary between earth and sky, or a creation myth.

The temple’s stones were carved around 11,000 years ago, which makes them 1,500 years younger than the Shigir Idol.

One could wonder how many similar pieces have been lost over time due to poor preservation conditions.”

The similarity of the geometric motifs to others across Europe in that era, he added, “is evidence of long-distance contacts and a shared sign language over vast areas. The sheer size of the idol also seems to indicate it was meant as a marker in the landscape that was supposed to be seen by other hunter-gatherer groups — perhaps marking the border of a territory, a warning or welcoming sign.”

“What do you think is the hardest thing to find in the Stone Age archaeology of the Urals?”A pause: Sites?“No,” he said, sighing softly. “Funding.”

Over multiple years, family income fluctuates, and so the distribution of multiyear income is moderately more equal than the distribution of single-year income.

n one sense, the growth of inequality in the last part of the twentieth century comes as a surprise. In the 1950s, the bottom part of the income distribution contained large concentrations of two kinds of families: farm families whose in-kind income was not counted in Census data, and elderly families, many of whom were ineligible for the new Social Security program

Over subsequent decades, farm families declined as a proportion of the population while increased Social Security benefits and an expanding private pension system lifted elderly incomes. Both trends favored greater income equality but were outweighed by four main factors.

Family structure. Over time, the two-parent, one-earner family was increasingly replaced by low-income single-parent families and higher-income two-parent, two-earner families

Trade and technology increasingly shifted demand away from less-educated and less-skilled workers toward workers with higher education or particular skills. The result was a growing earnings gap between more- and less-educated/skilled workers.

With improved communications and transportation, people increasingly functioned in national, rather than local, markets. In these broader markets, persons with unique talents could command particularly high salaries.

In 2002, immigrants who had entered the country since 1980 constituted nearly 11 percent of the labor force (see immigration). A relatively high proportion of these immigrants had low levels of education and increased the number of workers competing for low-paid work.

A second offset to estimated inequality is economic mobility. Because most family incomes increase as people’s careers develop, long-run incomes are more equal than standard single-year statistics suggest

Is inequality of wages and incomes bad? The question seems ludicrous. Of course inequality is bad, isn’t it? Actually, no. What matters crucially is how the inequality came about.

Inequality of wages and incomes is clearly bad if it results from government privileges. Many people would find such an outcome unjust, but even more important to many economists is that such inequality sets up perverse incentives.

But inequality in wages and incomes in relatively free economies serves two important social functions.

Applied welfare economics is the fruition of microeconomics.

It is hard to imagine a basic course in microeconomics failing to include numerous cases and examples drawn from all of the fields listed above. This is because microeconomics is so basic. It represents the trunk of the tree from which all the listed subfields have branche

The specialization of production and the institutions of trade, commerce, and markets long antedated the science of economics. Indeed, one can fairly say that from the very outset the science of economics entailed the study of the market forms that arose quite naturally (and without any help from economists) out of human behavior

In microeconomics this is translated into the notion of people maximizing their personal “utility,” or welfare.

At the beginning of the process, those who adopted the new hybrids made handsome profits.

The economics of supply and demand has a sort of moral or normative overtone, at least when it comes to dealing with a wide range of market distortions. In an undistorted market, buyers pay the market price up to the point where they judge further units not to be worth that price, while competitive sellers supply added units as long as they can make money on each increment.

The strength of microeconomics comes from the simplicity of its underlying structure and its close touch with the real world. In a nutshell, microeconomics has to do with supply and demand, and with the way they interact in various markets.

If price controls keep bread (or anything else) artificially cheap, the predictable result is that less will be supplied than is demanded.

Had the government given wheat farmers coupons, each of which permitted the farmer to market one bushel of wheat, wheat marketings could have been cut by the desired amount. Production inefficiencies could be avoided by allowing the farmers to buy and sell coupons among themselves.

monopoly represents the artificial restriction of production by an entity having sufficient “market power” to do so.

Modern monopolies are a bit less transparent, for two reasons. First, even though governments still grant monopolies, they usually grant them to the producers. Second, some monopolies just happen without government creating them, although these are usually short-lived.

A final example of what occurs with official prices that are too high is the phenomenon of “rent seeking,” which occurs when someone enters a business to earn a profit that the government has tried to make unusually high.

If the wage does not adjust downward to equate supply and demand, the rate of urban unemployment will rise until further migration is deterred. Still other examples are in banking and drugs.

Rent seeking also occurs when something of value (like import licenses or radio/TV franchises) is being given away or sold below its true value

The great unifying principles of microeconomics are, ever and always, supply and demand. The normative overtone of microeconomics comes from the fact that competitive supply price represents value as seen by suppliers, and competitive demand price represents value as seen by demanders.

Even if the doctors couldn’t pin down what was going on with me, I was so alarmed by my symptoms and the doctors’ gravest guesses that I felt anxious about whether or not I would have a future.

What was certain is that I was shrinking. Rapidly, uncontrollably.

My clothes hung loose at the waist and sloughed off my shoulders as if they belonged to a stranger, so I bought a stranger’s dress. Kate Spade, $348 retail.

I found it for $50 at an online designer consignment store while on hold with the hospital; a nurse was checking on the results of my bone marrow biopsy.

Online shopping was the sort of thing one might do if she were on hold with her cable company, not awaiting a possible blood cancer diagnosis.

I filled my cart with a cobalt dress, a blush silk blouse, a slinky skirt.

On paper, the doctors said, it looked like it could be lymphoma. The symptoms were classic: fever, night sweats, weight loss.

A biopsy of my enlarged lymph node showed it to be benign.

Two weeks earlier, a doctor had taken a surgical drill to my hip and hollowed out my bones with a syringe fit for a large horse. “Painful” was a deficient descriptor.

“I just don’t know what else to do,” my doctor said.

I sat still while my insides turned over. A cold sweat crept across my face. I closed my eyes, shook my head and returned to my shopping cart. I was not going to dwell.

No — I was going to shop. I was going to shop until I could think of nothing else. I punched in my credit card number and bought the Kate Spade.

Then I rushed to my closet, threw open the double doors and began rifling through Target impulse buys and ill-fitting hand-me-down

we’ll have to keep looking

I couldn’t breathe. I couldn’t do illness anymore. I could only do this.

I spun around in it, watching the hem rise and fall. Something about it made me feel less like a haggard patient and more like the kind of woman who went to cocktail parties dripping with perfume and family money.

Over the next few months, I made it my mission to build a new wardrobe from scratch. The process demanded every moment of my free time, every spare thought

We both knew it was impractical. The clothes were expensive and high maintenance, most of them over-the-top fancy for my modest life in nonprofit communications.

But they felt vital. I told myself I was overdue for some frivolity, that I deserved to treat myself.

For my next doctor’s appointment, I picked out a Valentino pencil skirt that fit snugly against my new, withered body.

I hurled the clothes into boxes and garbage bags. They smelled like the hospital, all burned coffee and antiseptic. I didn’t want them. I didn’t even want to look at them. I wanted silk. I wanted velvet.

“Can I see you again in six weeks? We can repeat blood work then and come up with a timeline for scans. Does that sound like an OK plan?”

“Just that I live here,” I said, gesturing at my body. “I have to live here.”

That night I ran my fingers through my hair, and a clump of blond strands fell loose into my palm. “It’s just stress,” I told my cat. I brushed my hands together, letting my hair fall into the trash, and returned to my shopping list.

Each one had lived a life before me. Now I held onto them in the dim light of my bedroom like tangible hope.

We’re forced to find hope in what we used to mock: God, the afterlife, miracles, hemp oil. Healing, by any means. Healing, against all odds.

After every appointment, after every failed attempt to name my illness, I would prop myself in bed, choose new dresses and think of all the places I would wear them.

The clothes promised me something the doctors, as they continue to search for a diagnosis, still can’t: an uncomplicated future. And I promised a future to the clothes.

This was their life after life. And they deserved that, didn’t they?

Investment is usually the result of forgoing consumption. In a purely agrarian society, early humans had to choose how much grain to eat after the harvest and how much to save for future planting. The latter was investment.

In a more modern society, we allocate our productive capacity to producing pure consumer goods such as hamburgers and hot dogs, and investment goods such as semiconductor foundries. If we create one dollar worth of hamburgers today, then our gross national product is higher by one dollar.

Investment need not always take the form of a privately owned physical product. The most common example of nonphysical investment is investment in human capital.

In an economy that is closed to the outside world, investment can come only from the forgone consumption—the saving—of private individuals, private firms, or government.

In an open economy, however, investment can surge at the same time that a nation’s saving is low because a country can borrow the resources necessary to invest from neighboring countries.

That economists have a fairly strong understanding of firms’ investment behavior makes sense. A firm that maximizes its profits must address investment using the framework discussed in this article.

This method of financing investment has been very important in the United States. The industrial base of the United States in the nineteenth century—railroads, factories, and so on—was built on foreign finance, especially from Britain. More recently, the United States has repeatedly posted significant investment growth and very low savings.

Investment fluctuates a lot because the fundamentals that drive investment—output prices, interest rates, and taxes—also fluctuate. But economists do not fully understand fluctuations in investment. Indeed, the sharp swings in investment that occur might require an extension to the Jorgenson theory.

In Jorgenson’s user cost model, firms will purchase a machine if the extra revenue the machine generates is a smidgen more than its cost.

The general conclusion is that there is a gain to waiting if there is uncertainty and if the installation of the machine entails sunk costs, that is, costs that cannot be recovered once spent.

Although quantifying this gain exactly is a highly mathematical exercise, the reasoning is straightforward. That would explain why firms typically want to invest only in projects that have a high expected profit.

The fact of irreversibility might explain the large fluctuations in investment that we observe.

The theory of investment dates back to the giants of economics. irving fisher, arthur cecil pigou, and alfred marshall all made contributions; as did john maynard keynes, whose Marshallian user cost theory is a central feature in his General Theory.

Consumer behavior is harder to study than firms’ behavior. Market forces that drive irrational people out of the marketplace are much weaker than market forces that drive bad companies from the market.

Because the saving response of consumers must be known if one is to fully understand the impact of any investment policy, and because saving behavior is so poorly understood, much work remains to be done.

Such trading on information originating outside the company is generally not covered by insider trading regulation.

Insider trading is quite different from market manipulation, disclosure of false or misleading information to the market, or direct expropriation of the corporation’s wealth by insiders.

Regulation of insider trading began in the United States at the turn of the twentieth century, when judges in several states became willing to rescind corporate insiders’ transactions with uninformed shareholders.

One of the earliest (and unsuccessful) federal attempts to regulate insider trading occurred after the 1912–1913 congressional hearings before the Pujo Committee, which concluded that “the scandalous practices of officers and directors in speculating upon inside and advance information as to the action of their corporations may be curtailed if not stopped.”

The Securities Acts of 1933–1934, passed by the U.S. Congress in the aftermath of the stock market crash, though aimed primarily at prohibiting fraud and market manipulation, also targeted insider trading.

As of 2004, at least ninety-three countries, the vast majority of nations that possess organized securities markets, had laws regulating insider trading

Several factors explain the rapid emergence of such regulation, particularly during the last twenty years: namely, the growth of the securities industry worldwide, pressures to make national securities markets look more attractive in the eyes of outside investors, and the pressure the SEC exerted on foreign lawmakers and regulators to increase the effectiveness of domestic enforcement by identifying and punishing offenders and their associates operating outside the United States.

Famous examples of insider trading include transacting on the advance knowledge of a company’s discovery of a rich mineral ore (Securities and Exchange Commission v. Texas Gulf Sulphur Co.), on a forthcoming cut in dividends by the board of directors (Cady, Roberts & Co.), and on an unanticipated increase in corporate expenses (Diamond v. Oreamuno).

A controversial case is that of abstaining from trading on the basis of inside information (Fried 2003).

There is little disagreement that insider trading makes securities markets more efficient by moving the current market price closer to the future postdisclosure price. In other words, insiders’ transactions, even if they are anonymous, signal future price trends to others and make the current stock price reflect relevant information sooner.

Accurately priced stocks give valuable signals to investors and ensure more efficient allocation of capital.

The controversial question is whether insider trading is more or less effective than public disclosure.

Insider trading’s advantage is that it introduces individual profit motives, does not directly reveal sensitive intercorporate information, and mitigates the management’s aversion to disclosing negative information (

Probably the most controversial issue in the economic analysis of insider trading is whether it is an efficient way to pay managers for their entrepreneurial services to the corporation. Some researchers believe that insider trading gives managers a monetary incentive to innovate, search for, and produce valuable information, as well as to take risks that increase the firm’s value (Carlton and Fischel 1983; Manne 1966).

Another economic argument for insider trading is that it provides efficient compensation to holders of large blocks of stock

A common contention is that the presence of insider trading decreases public confidence in, and deters many potential investors from, equity markets, making them less liquid (Loss 1970).

Empirical research generally supports skepticism that regulation of insider trading has been effective in either the United States or internationally, as evidenced by the persistent trading profits of insiders, behavior of stock prices around corporate announcements, and relatively infrequent prosecution rates (Bhattacharya and Daouk 2002; Bris 2005).

Despite numerous and extensive debates, economists and legal scholars do not agree on a desirable government policy toward insider trading. On the one hand, absolute information parity is clearly infeasible, and information-based trading generally increases the pricing efficiency of financial markets. Information, after all, is a scarce economic good that is costly to produce or acquire, and its subsequent use and dissemination are difficult to control. On the other hand, insider trading, as opposed to other forms of informed trading, may produce unintended adverse consequences for the functioning of the corporate enterprise, the market-wide system of publicly mandated disclosure, or the market for information.

To fully understand how Bitcoin operates, one would need to learn the subtleties of public-key cryptography.

In the real world, when people want to buy something using Bitcoin, they transfer their ownership of a certain number of bitcoins to other people, in exchange for goods and services.

This transfer is effected by the network of computers performing computations and thereby changing the “public key” to which the “sold” bitcoins are assigned.

The encryption involved in Bitcoin concerns the identification of the legitimate owner of a particular bitcoin.

Without delving into the mathematics, suffice it to say: There is a way that the legitimate owner of a bitcoin can publicly demonstrate to the computers in the network that he or she really is the owner of that bitcoin.

Only someone with the possession of the “private key” will be able to produce a valid “signature” that convinces the computers in the network to update the public ledger to reflect the transfer of the bitcoin to another party.

When Bitcoin was first implemented in early 2009, computers in the network—dubbed “miners”—received 50 new bitcoins when performing the computations necessary to add a “block” of transactions to the public ledger.

In principle, the developers of Bitcoin could have released all 21 million units of the currency immediately with the software.

With the current arrangement—where the “mining” operations needed to keep the system running simultaneously yield new bitcoins to the machines performing the calculations—there is an incentive for owners to devote their machines’ processing power to the network.

Here, the danger is that the issuing institution—once it had gotten the world to accept its notes or electronic deposits as money—would face an irresistible temptation to issue massive quantities.6

Bitcoin has no such vulnerability. No external technological or physical event could cause Bitcoin inflation, and since no one is in charge of Bitcoin, there is no one tempted to inflate “from within.”

Some critics argue that Bitcoin’s fixed quantity would imply constant price deflation. Although this is true, everyone will have seen this coming with more than a century’s notice, and so long-term contracts would have been designed accordingly.

Whether to call Bitcoin a “fiat” currency depends on the definition. If “fiat” means a currency that is not legally redeemable in some other commodity, then yes, Bitcoin is a fiat currency. But if “fiat” means a currency relying on government fiat to define what will count as legal money, then Bitcoin is not.

Bitcoin is an ingenious concept that challenges the way economists have traditionally thought about money. Its inbuilt scarcity provides an assurance of purchasing power arguably safer than any other system yet conceived.

We need to let the decentralized market test tell us what is the best money, or monies.

Trade, or exchange, is engaged in precisely because both parties benefit; if they did not expect to gain, they would not agree to the exchange.

This simple reasoning refutes the argument against free trade typical of the “mercantilist” period of sixteenth- to eighteenth-century Europe and classically expounded by the famed sixteenth-century French essayist Montaigne.

At each stage of production from natural resource to consumer good, money is voluntarily exchanged for capital goods, labor services, and land resources. At each step of the way, terms of exchanges, or prices, are determined by the voluntary interactions of suppliers and demanders. This market is “free” because choices, at each step, are made freely and voluntarily.

We can immediately see the fallacy in this still-popular viewpoint: the willingness and even eagerness to trade means that both parties benefit. In modern game-theory jargon, trade is a win-win situation, a “positive-sum” rather than a “zero-sum” or “negative-sum” game.

Each one values the two goods or services differently, and these differences set the scene for an exchange.

Two factors determine the terms of any agreement: how much each participant values each good in question, and each participant’s bargaining skills.

the market in relation to how favorably buyers evaluate these goods—in shorthand, by the interaction of their supply with the demand for them.

On the other hand, given the buyers’ evaluation, or demand, for a good, if the supply increases, each unit of supply—each baseball card or loaf of bread—will fall in value, and therefore the price of the good will fall. The reverse occurs if the supply of the good decreases.

The market, then, is not simply an array; it is a highly complex, interacting latticework of exchanges.

Production begins with natural resources, and then various forms of machines and capital goods, until finally, goods are sold to the consumer.

The mercantilists argued that in any trade, one party can benefit only at the expense of the other—that in every transaction there is a winner and a loser, an “exploiter” and an “exploited.”

A common charge against the free-market society is that it institutes “the law of the jungle,” of “dog eat dog,” that it spurns human cooperation for competition and exalts material success as opposed to spiritual values, philosophy, or leisure activities.

Saving and investment can then develop capital goods and increase the productivity and wages of workers, thereby increasing their standard of living.

The free competitive market also rewards and stimulates technological innovation that allows the innovator to get a head start in satisfying consumer wants in new and creative ways.

Government, in every society, is the only lawful system of coercion. Taxation is a coerced exchange, and the heavier the burden of taxation on production, the more likely it is that economic growth will falter and decline

The ultimate in government coercion is socialism.

Under socialist central planning the socialist planning board lacks a price system for land or capital goods.

Market socialism is, in fact, a contradiction in terms.

The fashionable discussion of market socialism often overlooks one crucial aspect of the market: When two goods are exchanged, what is really exchanged is the property titles in those goods.

This means that the key to the existence and flourishing of the free market is a society in which the rights and titles of private property are respected, defended, and kept secure.

The key to socialism, on the other hand, is government ownership of the means of production, land, and capital goods.

Under socialism, therefore, there can be no market in land or capital goods worthy of the name.

ome critics of the free market argue that property rights are in conflict with “human” rights. But the critics fail to realize that in a free-market system, every person has a property right over his own person and his own labor and can make free contracts for those services.

The free market and the free price system make goods from around the world available to consumers.

It is the coercive countries with little or no market activity—the notable examples in the last half of the twentieth century were the communist countries—where the grind of daily existence not only impoverishes people materially but also deadens their spirit.

Prices adjust to equate how much people want to buy with how much they want to sell.

And if people want to buy more than they did before, prices rise. If people want to sell more than they did before, prices fall.

Supply and demand. Buyers are competing with each other. Sellers are competing with each other.

The simple answer of supply and demand is a strange answer, for it presumes you can talk about a good of a particular quality

In the real world, every good has a unique mix of attributes. Even when two goods are physically identical, they almost always come bundled with differing levels of service attached to them.

It’s a strange answer because people’s desires and situations and income and alternatives are constantly changing, so the amount that people want to buy and sell of something can never be pinned down instantaneously.

It’s a strange answer because it seems to require lots of information.

The strangeness of supply and demand leads some to conclude that it only applies to special cases of a homogeneous good where there are a near-infinite number of sellers and where there is perfect information about the quality of the good and the alternatives and their prices.

Supply and demand is a way to see the relationship that strips away everything except the fact that what people are willing to pay and what they have to pay depends on the alternatives.

Prices adjust. They’re not fixed. Supply and demand helps us remember this.

Finally, supply and demand helps us see things in a totally different way. How bizarre it is that partisans credit or blame the president for the average level of wages or inequality in the United States.

The president no more controls wages in the United States than he does the average weight of Americans.

One of the simplest insights that comes from supply and demand is the availability of goods in the marketplace.

When people want more of something, the crowd of more enthusiastic buyers rarely exhausts the supply. Prices adjust to equate how much people want to buy with how much people want to sell. So if people suddenly want more of something, it doesn’t just disappear. The price rises inducing an increase in what is available.

Because prices can adjust, the shelves are rarely empty in a market economy

Supply and demand is a poor tool for predicting precisely the exact level of a price.

Supply and demand is a simple and powerful way to describe the ways that transactions across time and space are not independent of one another.

It is a powerful way to organize our thinking about the complexity that emerges out of the propensity to truck, barter and exchange, a complexity that is the result of human action but not of human design.

“When people hear ‘clown,’ the first associations that pop into their head are the killer clowns in the movies — It, the Joker— and then John Wayne Gacy, the real-life mass murderer,” McAndrew says of the 1970s serial killer who became known as the “Killer Clown” for his volunteer clown work. “It’s kind of hard to get past all of that.”

“[Some of the] very first clowns were the court jesters who poked fun at kings and made people in high places uncomfortable. That’s why they exist,” he tells TIME of the history of clowns in medieval Europe. “They’re designed to make people afraid. If you go all the way back to the beginning of clownhood, they’ve always been bad. They’re pranksters, they play tricks.”

However, while many people are apprehensive or fearful of clowns, both Nader and McAndrew agree that someone having an actual phobia of clowns, a.k.a. coulrophobia, is rare.

“Fortunately, we live in a society where clowns aren’t just wandering around, so it’s pretty easy to avoid them or at least not come into contact with them very regularly. Rarely does this fear ever cause a person to experience a disruption in their lifestyle or ability to do things.”

“We like to learn about dangers in a safe way so that we’re prepared in some unknown future time to deal with them if they ever come our way. So by going to see IT and watching this evil clown lure children in and kill them, we learn strategies for avoiding that kind of fate ourselves,” he says. “We’re not consciously sitting there, watching the movie and thinking these things, but that impulse to like to scare ourselves is there.”

The same research suggests that social shoppers are actually energized by the presence of other consumers. These folks enjoy the experience more when there are others nearby, even if they don’t directly interact.

Psychology researchers talk about this preference in what they call field theory. If you’ve ever been bothered by a “close-talker” who leans in too close or touches your arm as they tell you a story, then you are likely someone who requires a little more personal space than that storyteller does.

Taken together, these two theories explain a lot about the way you feel about Black Friday-style shopping.

The countries where students were guilty of the most BS? The U.S. and Canada. Students in the two counties had scores that were .25 and .3 above average on the study’s “bullshit scale.” However, the two counties also had the narrowest gap between boys and girls, with a gap of .25 and .34 between the genders. In England and Ireland, the gap was much wider – .48 and .46 points.

Shure says that she is interested in determining whether a person’s ability to BS has a major impact on economic inequality between men and women, and how the ability plays out across socioeconomic lines.

“You can imagine that the people that score high on this bullshit index are good at certain things that might be rewarded,” says Shure. “It might be an interview to get into college. It could be an interview for a job, or an internship. It could be those skills end up helping exacerbate the gap that we observe between people from rich backgrounds and poor backgrounds, and even men and women.”

However, Shure says that it’s conceivable that “bullshitters” may have an advantage when it comes to getting ahead: “They clearly have very high opinions of themselves. And that could be associated with becoming leaders in the future.”