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	<title>Smart News &#187; Economics</title>
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	<description>Keeping You Current</description>
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		<title>America&#8217;s Bridges Really Are Getting Old: One Just Collapsed Into the Skagit River</title>
		<link>http://blogs.smithsonianmag.com/smartnews/2013/05/americas-bridges-really-are-getting-old-one-just-collapsed-into-the-skagit-river/</link>
		<comments>http://blogs.smithsonianmag.com/smartnews/2013/05/americas-bridges-really-are-getting-old-one-just-collapsed-into-the-skagit-river/#comments</comments>
		<pubDate>Fri, 24 May 2013 15:32:16 +0000</pubDate>
		<dc:creator>Rose Eveleth</dc:creator>
				<category><![CDATA[American History]]></category>
		<category><![CDATA[Economics]]></category>
		<category><![CDATA[Political History]]></category>
		<category><![CDATA[Trending Today]]></category>
		<category><![CDATA[bridge collapse]]></category>
		<category><![CDATA[news]]></category>
		<category><![CDATA[seattle]]></category>
		<category><![CDATA[Skagitt]]></category>

		<guid isPermaLink="false">http://blogs.smithsonianmag.com/smartnews/?p=15713</guid>
		<description><![CDATA[While there may not be money laying around to fix bridges, there are certainly bridges laying around that need fixing]]></description>
			<content:encoded><![CDATA[<div id="attachment_15719" class="wp-caption aligncenter" style="width: 575px"><a href="http://blogs.smithsonianmag.com/smartnews/files/2013/05/370710207_921221906e_z.jpg"><img class="size-full wp-image-15719" title="370710207_921221906e_z" src="http://blogs.smithsonianmag.com/smartnews/files/2013/05/370710207_921221906e_z.jpg" alt="" width="575" height="431" /></a><p class="wp-caption-text">A bridge over another part of the Skagitt River. Image: <a href="http://www.flickr.com/photos/brewbooks/370710207/sizes/z/in/photostream/">brewbooks</a></p></div>
<p>Just north of Seattle, a bridge over the Skagit River collapsed yesterday, plunging cars and their drivers into the water. The Interstate 5 bridge, built in 1955, was listed as &#8220;functionally obsolete&#8221; but was not considered structurally unsound. No one was killed in the collapse.</p>
<p>Authorities are still investigating what caused the bridge to break apart and have suggested that a commercial vehicle might have hit it, prompting the collapse. But they aren&#8217;t sure yet. At least three vehicles wound up in the water, including a camping trailer, <a href="http://www.nytimes.com/aponline/2013/05/23/us/ap-us-i-5-bridge-collapse.html?hp&amp;gwh=76A0DBBDF99046F926ACE796286D0F7A&amp;_r=0">according to witnesses.</a></p>
<p><a href="http://www.nytimes.com/aponline/2013/05/23/us/ap-us-i-5-bridge-collapse.html?hp&amp;gwh=76A0DBBDF99046F926ACE796286D0F7A&amp;_r=0" target="_blank">The <em>New York Times</em> explains</a> that the bridge was certainly old and outdated, but no more so than many of Seattle&#8217;s bridges:</p>
<blockquote><p>The bridge was built in 1955 and has a sufficiency rating of 57.4 out of 100, according to federal records. That is well below the statewide average rating of 80, according to an Associated Press analysis of federal data, but 759 bridges in the state have a lower sufficiency score.</p>
<p>According to a 2012 Skagit County Public Works Department report, 42 of the county&#8217;s 108 bridges are 50 years or older. The document says eight of the bridges are more than 70 years old and two are over 80.</p></blockquote>
<p>According to the American Society of Civil Engineers, Seattle isn&#8217;t the only state whose infrastructure is in need of serious work. Their 2013 report card gave the entire United States a D+ overall, and a C+ for bridges. Washington State got a C- for it&#8217;s bridges, &#8221; in part due to the nearly 400 structurally deficient bridges in Washington State. 36 percent of Washington’s bridges are past their design life of 50 years.&#8221;</p>
<p>The report explains that bridges in the United States are in pretty bad condition overall:</p>
<blockquote><p>Over two hundred million trips are taken daily across deficient bridges in the nation’s 102 largest metropolitan regions. In total, one in nine of the nation’s bridges are rated as structurally deficient, while the average age of the nation’s 607,380 bridges is currently 42 years. The Federal Highway Administration (FHWA) estimates that to eliminate the nation’s bridge deficient backlog by 2028, we would need to invest $20.5 billion annually, while only $12.8 billion is being spent currently. The challenge for federal, state, and local governments is to increase bridge investments by $8 billion annually to address the identified $76 billion in needs for deficient bridges across the United States.</p></blockquote>
<p><a href="http://www.nbcnews.com/id/20079534/ns/us_news-life/t/thought-dead-minneapolis-bridge-collapses/">The 2007 bridge collapse in Minneapolis</a>, which killed thirteen people, made the consequences of these numbers all too real. And in Washington, D.C., a 60-year-old bridge over the Anacostia River was in the news in January as it began to fall apart faster than repairs could be made.</p>
<p>“If any bridge is unsafe, we immediately take it out of service,” <a href="http://www.washingtonpost.com/local/trafficandcommuting/2012/12/30/22fc8f18-454c-11e2-9648-a2c323a991d6_story.html" target="_blank">Transportation Secretary Ray LaHood told the <em>Washington Pos</em>t in January</a>. “However, it’s no secret that many aging bridges across the country are in need of repair or replacement, and there simply isn’t enough money in Washington to fund them all.”</p>
<p>Transportation for America released a report last year that mapped and documented the state of the country&#8217;s bridges. The report found that &#8220;68,842 bridges — 11.5 percent of total highway bridges in the U.S. — are classified as &#8216;structurally deficient,&#8217; requiring significant maintenance, rehabilitation or replacement.&#8221;</p>
<p>And it wasn&#8217;t just the I-5 bridge that collapsed yesterday, either.<a href="http://www.bbc.co.uk/news/world-us-canada-22641179"> In Texas, a railroad bridge caught on fire and collapsed into the Colorado River. </a></p>
<p>So while there may not be money laying around to fix bridges, there are certainly bridges laying around that need fixing.</p>
<p>More from Smithsonian.com:</p>
<p><a href="http://blogs.smithsonianmag.com/smartnews/2012/07/worlds-coolest-animal-bridges/">World’s Coolest Animal Bridges</a><br />
<a href="http://blogs.smithsonianmag.com/ideas/2013/03/bridging-tech-and-art/">The Bay Bridge Gets Its Glow On</a></p>
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		<title>This Is What One Half Second of High Speed Trading Looks Like</title>
		<link>http://blogs.smithsonianmag.com/smartnews/2013/05/this-is-what-one-half-second-of-high-speed-trading-looks-like/</link>
		<comments>http://blogs.smithsonianmag.com/smartnews/2013/05/this-is-what-one-half-second-of-high-speed-trading-looks-like/#comments</comments>
		<pubDate>Mon, 06 May 2013 15:22:54 +0000</pubDate>
		<dc:creator>Rose Eveleth</dc:creator>
				<category><![CDATA[Cool Finds]]></category>
		<category><![CDATA[Economics]]></category>
		<category><![CDATA[high speed trading]]></category>
		<category><![CDATA[stock market]]></category>
		<category><![CDATA[stocks]]></category>

		<guid isPermaLink="false">http://blogs.smithsonianmag.com/smartnews/?p=14787</guid>
		<description><![CDATA[You already have welcomed your robot overlords, and they're building our financial system]]></description>
			<content:encoded><![CDATA[<div id="attachment_14788" class="wp-caption aligncenter" style="width: 575px"><a href="http://blogs.smithsonianmag.com/smartnews/files/2013/05/Screen-Shot-2013-05-06-at-8.39.48-AM.jpg"><img class="size-full wp-image-14788" title="Screen Shot 2013-05-06 at 8.39.48 AM" src="http://blogs.smithsonianmag.com/smartnews/files/2013/05/Screen-Shot-2013-05-06-at-8.39.48-AM.jpg" alt="" width="575" height="307" /></a><p class="wp-caption-text">Image: <a href="http://www.youtube.com/watch?feature=player_embedded&amp;v=rB5jJuMP84E">Eric Hunsader</a></p></div>
<p>The New York Stock Exchange is built on incredibly quick trades. About 10 million of Johnson &amp; Johnson&#8217;s shares are traded each day, for instance. This video shows just one half-second of those trades:</p>
<p><iframe src="http://www.youtube.com/embed/rB5jJuMP84E" frameborder="0" width="600" height="338"></iframe></p>
<p>The creator of this video, Eric Hunsader, explain what you&#8217;re looking at:</p>
<blockquote><p>Each box represents one exchange. The SIP (CQS in this case) is the box at 6 o&#8217;clock. It shows the National Best Bid/Offer. Watch how much it changes in a fraction of a second. The shapes represent quote changes which are the result of a change to the top of the book at each exchange. The time at the bottom of the screen is Eastern Time HH:MM:SS:mmm (mmm = millisecond). We slow time down so you can see what goes on at the millisecond level. A millisecond (ms) is 1/1000th of a second.</p></blockquote>
<p>If this is confusing to you, you&#8217;re not alone. High speed trading is incredibly complicated and hard to keep up with. Radiolab has a good explanation of just how these incredibly quick trades go down.</p>
<p><iframe src="//www.radiolab.org/widgets/ondemand_player/#file=http%3A%2F%2Fwww.radiolab.org%2Faudio%2Fxspf%2F267195%2F;containerClass=radiolab" frameborder="0" width="600" height="54"></iframe></p>
<p>And remember, that video is just for Johnson and Johnson, in one half-second. Imagine what the system looks like for all companies, the whole day through. It&#8217;s no wonder our financial system is hard to understand. &#8220;So much is happening so quickly that humans are uselessly for anything more than programming the computers and then sending them on their way, along with some instructions about what to do in a given scenario… and hopefully a few measures which will help avoid a global financial meltdown,&#8221; <a href="http://www.geek.com/science/visualizing-the-insane-complexity-of-one-half-second-of-stock-trading-1554181/">writes Geek.com</a>.</p>
<p>You already have welcomed your robot overlords, and they&#8217;re building our financial system.</p>
<p>More from Smithsonian.com:</p>
<p><a href="http://blogs.smithsonianmag.com/science/2013/04/google-search-terms-can-predict-the-stock-market/">Google Search Terms Can Predict the Stock Market</a></p>
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		<title>Some Shoppers Actively Avoid ‘Green’ Products</title>
		<link>http://blogs.smithsonianmag.com/smartnews/2013/05/some-shoppers-actively-avoid-green-products/</link>
		<comments>http://blogs.smithsonianmag.com/smartnews/2013/05/some-shoppers-actively-avoid-green-products/#comments</comments>
		<pubDate>Thu, 02 May 2013 14:11:36 +0000</pubDate>
		<dc:creator>Rachel Nuwer</dc:creator>
				<category><![CDATA[Climate Change]]></category>
		<category><![CDATA[Economics]]></category>
		<category><![CDATA[New Research]]></category>
		<category><![CDATA[United States]]></category>
		<category><![CDATA[CFL]]></category>
		<category><![CDATA[conservatives]]></category>
		<category><![CDATA[efficiency]]></category>
		<category><![CDATA[energy]]></category>
		<category><![CDATA[environment]]></category>
		<category><![CDATA[environmentally friends]]></category>
		<category><![CDATA[green]]></category>
		<category><![CDATA[labeling]]></category>
		<category><![CDATA[liberals]]></category>
		<category><![CDATA[light bulbs]]></category>
		<category><![CDATA[marketing]]></category>
		<category><![CDATA[politics]]></category>
		<category><![CDATA[shoppers]]></category>

		<guid isPermaLink="false">http://blogs.smithsonianmag.com/smartnews/?p=14665</guid>
		<description><![CDATA[While energy efficiency and green labeling is a popular marketing strategy today, this strategy can polarize some conservative customers ]]></description>
			<content:encoded><![CDATA[<div id="attachment_14666" class="wp-caption alignnone" style="width: 575px"><a href="http://blogs.smithsonianmag.com/smartnews/files/2013/05/lightbulb.jpg"><img class="size-full wp-image-14666" title="lightbulb" src="http://blogs.smithsonianmag.com/smartnews/files/2013/05/lightbulb.jpg" alt="" width="575" height="581" /></a><p class="wp-caption-text">Photo: <a href="http://www.flickr.com/photos/mncerts/6881821585/sizes/l/in/photostream/">CERTs</a></p></div>
<p>Buying a green product—an energy-saving lightbulb or bird-friendly coffee—can give shoppers a feeling of satisfaction for doing a small part to help the environment. But green-certified product label don&#8217;t give everyone the warm fuzzies. <a href="http://www.eurekalert.org/pub_releases/2013-04/du-elm043013.php">New research</a> published in the <a href="http://www.pnas.org/cgi/doi/10.1073/pnas.1218453110"><em>Proceedings of the National Academy of the Sciences</em></a> found that some politically conservative shoppers actively avoid products that advertise their environmental friendliness.</p>
<p>The researchers conducted two studies to investigate how political ideology might influence a shopper&#8217;s choices. The researchers surveyed around 650 Americans ranging in age from 19 to 81. The interviewees answered questions about their political leanings, the value of reducing carbon dioxide emissions, and their thoughts on the environment and on energy efficiency.</p>
<p>The results revealed that the more conservative a survey taker, the less likely he was to support energy-efficient technology. The researchers attributed this finding to the lower value that political conservatives place on reducing carbon emissions rather than on energy independence or reducing energy costs, both of which still appealed to this group of people.</p>
<p>In a second study, around 200 participants were given $2 to spend on either a compact fluorescent light (CFL) bulb or an incandescent bulb. Before making their purchase, the researchers informed the participants that the CFL bulb reduce energy costs by 75 percent. Some of the CFL bulbs also included a &#8220;Protect the Environment&#8221; sticker on their box.</p>
<p>When the researchers placed the CFL bulbs at $1.50 and the incandescent bulb at just 50 cents, conservative participants but not liberal ones were less likely to buy it. However, when that more expensive CFL bulb did not include a &#8220;Protect the Environment&#8221; sticker, liberals and conservatives were just as likely to buy it.</p>
<p>In other groups of participants, the CFL and incandescent bulbs were both sold for 50 cents. In this case, conservatives bought the CFL more often than the incandescent bulb.</p>
<p>While energy efficiency and green labeling is a popular marketing strategy today, the researchers point out that in some cases this may work against the product and polarize potential customers. Instead, in order to attract political conservatives, providing a competitive price tag may be the surest way to promote purchases.</p>
<p>More from Smithsonian.com:</p>
<p><a href="http://blogs.smithsonianmag.com/aroundthemall/2009/03/national-postal-museum-greening-the-mail/">Greening the Mall</a><br />
<a href="http://blogs.smithsonianmag.com/smartnews/2012/07/documenting-the-last-green-spot-between-nyc-and-philly/">Documenting &#8220;The Last Green Spot Between New York and Philly&#8221;</a></p>
<p>&nbsp;</p>
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		<title>The New $100 Bill Will Have Thousands of Tiny Lenses Built In</title>
		<link>http://blogs.smithsonianmag.com/smartnews/2013/04/the-new-100-bill-will-have-thousands-of-tiny-lenses-built-in/</link>
		<comments>http://blogs.smithsonianmag.com/smartnews/2013/04/the-new-100-bill-will-have-thousands-of-tiny-lenses-built-in/#comments</comments>
		<pubDate>Thu, 25 Apr 2013 19:10:50 +0000</pubDate>
		<dc:creator>Rachel Nuwer</dc:creator>
				<category><![CDATA[American History]]></category>
		<category><![CDATA[Cool Finds]]></category>
		<category><![CDATA[Economics]]></category>
		<category><![CDATA[Technology]]></category>
		<category><![CDATA[United States]]></category>
		<category><![CDATA[$100]]></category>
		<category><![CDATA[benjamin franklin]]></category>
		<category><![CDATA[bill]]></category>
		<category><![CDATA[conterfeit]]></category>
		<category><![CDATA[feds]]></category>
		<category><![CDATA[money]]></category>
		<category><![CDATA[one hundred dollars]]></category>

		<guid isPermaLink="false">http://blogs.smithsonianmag.com/smartnews/?p=14392</guid>
		<description><![CDATA[The $100 is the note most frequently targeted by counterfeiters ]]></description>
			<content:encoded><![CDATA[<div id="attachment_14393" class="wp-caption alignnone" style="width: 575px"><a href="http://blogs.smithsonianmag.com/smartnews/files/2013/04/fc78faf0-f7cd-41ee-9b00-8efe59def49d-100-front2.jpg"><img class=" wp-image-14393 " title="fc78faf0-f7cd-41ee-9b00-8efe59def49d-100-front2" src="http://blogs.smithsonianmag.com/smartnews/files/2013/04/fc78faf0-f7cd-41ee-9b00-8efe59def49d-100-front2.jpg" alt="" width="575" height="243" /></a><p class="wp-caption-text">Photo: The US Treasury</p></div>
<p>As of October 8, a new $100 bill will be in circulation in the U.S. In an attempt to cut down on counterfeits, the Federal Reserve will add features such as a blue 3D security ribbon composed of thousands of tiny lenses and a disappearing Liberty Bell in an inkwell, <a href="http://www.usatoday.com/story/money/business/2013/04/24/redesigned-100-bill/2109809/?utm_source=dlvr.it&amp;utm_medium=twitter&amp;dlvrit=206567"><em>USA Today</em> reports</a>.</p>
<p>The new bill is a bit late to arrive in Americans wallets. Originally, it was scheduled to be released in February 2011. But the Feds discovered an issue with unwanted wrinkles appearing in many of the notes, so they postponed its release indefinitely.</p>
<p>As for that blue security ribbon and its tiny lenses, the technology works by magnifying the objects underneath. When the bill is moved one way, whatever is underneath seems to move the opposite way. Though the $100 is the note most frequently targeted by counterfeiters, <em>USA Today</em> points out, it&#8217;s the last bill to undergo an upgrade to try and deter those fakes.</p>
<p>But as <a href="http://online.wsj.com/article/SB10001424052748703876404575200093609290372.html">the <em>Wall Street Journal</em> points out</a>, even with fancy new technology, the counterfeiters will likely find a way around the security measures. They always do. Ben Franklin himself lost sleep over this issue. He designed the country&#8217;s first bills, which immediately triggered a wealth of counterfeits despite his adding a &#8220;mysterious anticounterfeiting device.&#8221;</p>
<blockquote><p>This was the so-called nature print, which consisted of an image of a leaf or leaves. It was extraordinarily lifelike, and with good reason. Franklin had devised a way of taking a plaster cast of the surface of a leaf. That in turn could be used to cast a lead plate that would be used to print the notes. Because every leaf was unique—with a complex web of veins of varying thickness—the notes were very difficult to counterfeit.</p></blockquote>
<p>No surprise, though, the strategy didn&#8217;t work for very long. The British actually used counterfeits of Franklin&#8217;s bills as a means of undermining the impending war. While we&#8217;ve moved beyond Red Coat plots to crash the U.S. economy, as the <em>Wall Street Journal</em> writes, however many fancy security tactics are crammed onto a small slip of green paper, counterfeiters will eventually and inevitably crack that code.</p>
<p>More from Smithsonian.com:</p>
<p><a href="http://www.smithsonianmag.com/arts-culture/money-abstract.html">The Art of Money </a><br />
<a href="http://blogs.smithsonianmag.com/smartnews/2012/11/to-save-money-ask-for-pretty-new-dollar-bills/">To Save Money, Ask for Pretty New Dollar Bills</a></p>
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		<title>Lockheed Martin Wants to Pull Electricity from the Ocean’s Heat</title>
		<link>http://blogs.smithsonianmag.com/smartnews/2013/04/lockheed-martin-wants-to-pull-electricity-from-the-oceans-heat/</link>
		<comments>http://blogs.smithsonianmag.com/smartnews/2013/04/lockheed-martin-wants-to-pull-electricity-from-the-oceans-heat/#comments</comments>
		<pubDate>Mon, 22 Apr 2013 14:34:02 +0000</pubDate>
		<dc:creator>Colin Schultz</dc:creator>
				<category><![CDATA[Business]]></category>
		<category><![CDATA[China]]></category>
		<category><![CDATA[Climate Change]]></category>
		<category><![CDATA[Cool Finds]]></category>
		<category><![CDATA[Economics]]></category>
		<category><![CDATA[Inventions]]></category>
		<category><![CDATA[Oceans]]></category>
		<category><![CDATA[Science]]></category>
		<category><![CDATA[Technology]]></category>
		<category><![CDATA[china]]></category>
		<category><![CDATA[conversion]]></category>
		<category><![CDATA[electricity]]></category>
		<category><![CDATA[energy]]></category>
		<category><![CDATA[lockheed martin]]></category>
		<category><![CDATA[ocean]]></category>
		<category><![CDATA[OTEC]]></category>
		<category><![CDATA[power]]></category>
		<category><![CDATA[renewable]]></category>
		<category><![CDATA[resort]]></category>
		<category><![CDATA[thermal]]></category>
		<category><![CDATA[wave]]></category>

		<guid isPermaLink="false">http://blogs.smithsonianmag.com/smartnews/?p=14151</guid>
		<description><![CDATA[A type of renewable energy, first proposed in the 1800s, might finally be ready for prime time]]></description>
			<content:encoded><![CDATA[<p><iframe src="http://www.youtube.com/embed/lfrWE61EeQY" frameborder="0" width="600" height="338"></iframe><a href="http://blogs.smithsonianmag.com/smartnews/files/2013/04/04_20_2013_otec.jpg"><img class="alignnone size-full wp-image-14152" title="04_20_2013_otec" src="http://blogs.smithsonianmag.com/smartnews/files/2013/04/04_20_2013_otec.jpg" alt="" width="0" height="0" /></a></p>
<p>If all goes to plan, <a href="http://online.wsj.com/article/PR-CO-20130416-906518.html?mod=googlenews_wsj" target="_blank">a new deal</a> inked by two of the world&#8217;s biggest companies could give rise to a sustainability advocate&#8217;s paradise: a resort near the South China Sea that gets all of its power from the heat of the water nearby through a new type of renewable energy.</p>
<p>The deal, <a href="http://www.prnewswire.com/news-releases-test/lockheed-martin-and-reignwood-group-to-develop-ocean-thermal-energy-conversion-power-plant-203175611.html" target="_blank">says a news release issued by Lockheed Martin</a>, will see the defense giant partner with <a href="http://www.reignwood.com/ " target="_blank">the Reignwood Group</a>—a massive company <a href="http://www.reignwood.com/aboutUs_BusinessLines.asp" target="_blank">that does everything from</a> selling Red Bull in China to operate hotels and golf courses, managing properties and operating a private aircraft service—to develop the first commercial plant for a new type of renewable energy generation system known as <a href="http://www.princeton.edu/~achaney/tmve/wiki100k/docs/Ocean_thermal_energy_conversion.html" target="_blank">ocean thermal energy conversion (OTEC)</a>.</p>
<p>Ocean thermal energy conversion draws on the natural temperature gradient that forms in tropical oceans worldwide. The surface of the ocean, heated by the Sun, is much warmer than the water deeper down. OTEC plants use the warm surface water to boil a liquid with a really low boiling point in a low-pressure container to form steam. This steam then drives a turbine, generating electricity. Colder water from deeper down is pulled up in a pipe, and by having this cold water pass by the pipe containing the steam, the steam is condensed back into a liquid. The liquid flows around, is heated by the warm surface water, and turns into steam once more—on and on, generating electricity from the temperature gradient in the ocean.</p>
<p>The idea for ocean thermal energy conversaion has been around for a really, really long time. “The concept of deriving energy from ocean thermal gradients was a French idea, suggested in 1881 by Jacques d’Arsonval, and French engineers have been active in developing the requisite technology,” <a href=" http://www.marineenergytimes.com/could-otec-soon-be-used-part01_context.html" target="_blank">says Marine Energy Times</a>.</p>
<p><a href="http://www.cleanbreak.ca/2013/04/16/ocean-thermal-energy-conversion-gets-one-step-closer-to-commercial-reality/" target="_blank">According to</a> energy reporter <a href=" https://twitter.com/Go2CleanBreak" target="_blank">Tyler Hamilton</a>, famed engineer Nikola Tesla even tried his hands at making it work.</p>
<blockquote><p>While Lockheed has been working on this for four decades, one of the first in-depth discussions of the concept came from Nikola Tesla, who at the age of 75 outlined how such a plant might be built in the December 1931 issue of <em>Everyday Science and Mechanics</em> journal. Tesla spent considerable time devising a way to improve the efficiencies of such a power plant, but he determined that it was too great an engineering challenge at the time. “I have studied this plan of power production from all angles and have devised apparatus for bringing down all losses to what I might call the irreducible minimum and still I find the performance too small to enable successful competition with the present methods,” he wrote, though still expressing hope that new methods would eventually make it possible to economically tap the thermal energy in oceans.</p></blockquote>
<p>So the idea is old, but recent technological developments have driven ocean thermal energy conversion into the realm of possibility. Interestingly, some of the most troubling issues facing OTEC were solved by the oil industry, says the Marine Energy Times:</p>
<blockquote><p>Ocean thermal is the only remaining vast, untapped source of renewable energy, and is now ripe for commercialization.  The near market-readiness of this technology is largely attributable to the remarkable ocean-engineering innovations and successful experience of the offshore oil industry during the past thirty years in developing, investing in, and  introducing mammoth floating platforms.  That achievement has inadvertently satisfied ocean thermal’s key operational requirement, for a large, stable, reliable ocean platform capable of operating in storms, hurricanes and typhoons.</p>
<p>Consequently, adaptations of those offshore-ocean-platform designs can be spun-off  to supply the proven ocean-engineering framework on which to mount the specialized ocean thermal plant and plantship heat exchangers, turbomachinery, cold water pipe (CWP) system, and other components and subsystems.Those offshore engineering achievements have greatly reduced the real and perceived risks of investing in ocean thermal plants.</p></blockquote>
<p>Lockheed Martin has been working on the technology behind OTEC, too, and the deal with the Reignwood Group will see them build a test plant. If they manage to pull it off, the work could open the door to increased investment in this new form of renewable energy.</p>
<p><a href="http://www.greentechmedia.com/articles/read/100-Megawatt-Power-Plant-via-Variations-in-Ocean-Temperature " target="_blank">According to Green Tech Media</a>, there are some potential environmental issues to look out for: if the cold water brought up from depth is pumped out into the surface waters, you could trigger a huge algae bloom that is really bad for the local ecosystem. But, if you release the cold water further down, around 70 meters depth, you should be able to avoid this dilemma. Having a small-scale test plant will give researchers a way to learn about any other unforeseen issues before moves are made to implement this new type of renewable energy on a larger scale.</p>
<p>More from Smithsonian.com:</p>
<p><a href="http://blogs.smithsonianmag.com/smartnews/2012/07/clean-energy-can-come-from-dirt/" rel="bookmark">Clean Energy Can Come From Dirt</a><br />
<a href="http://www.smithsonianmag.com/specialsections/ecocenter/energy/Catching-a-Wave.html" target="_blank">Catching a Wave, Powering an Electrical Grid?</a></p>
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		<title>Crowds Help Robots Repair Damaged Coral Reefs</title>
		<link>http://blogs.smithsonianmag.com/smartnews/2013/04/crowds-help-robots-repair-damaged-coral-reefs/</link>
		<comments>http://blogs.smithsonianmag.com/smartnews/2013/04/crowds-help-robots-repair-damaged-coral-reefs/#comments</comments>
		<pubDate>Fri, 19 Apr 2013 13:30:16 +0000</pubDate>
		<dc:creator>Rachel Nuwer</dc:creator>
				<category><![CDATA[Cool Finds]]></category>
		<category><![CDATA[Economics]]></category>
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		<guid isPermaLink="false">http://blogs.smithsonianmag.com/smartnews/?p=14088</guid>
		<description><![CDATA[A team of Scottish scientists hopes to raise $107,000 to build coral reef repairing robots ]]></description>
			<content:encoded><![CDATA[<div id="attachment_14089" class="wp-caption alignnone" style="width: 575px"><a href="http://blogs.smithsonianmag.com/smartnews/files/2013/04/coral.jpg"><img class="size-full wp-image-14089" title="coral" src="http://blogs.smithsonianmag.com/smartnews/files/2013/04/coral.jpg" alt="" width="575" height="434" /></a><p class="wp-caption-text">Photo: <a href="http://www.flickr.com/photos/tiswango/685338286/sizes/z/in/photostream/">tiswango</a></p></div>
<p>Nothing like a coral reef in need of repair, and a robot ready to get to work, to get people to pull out their wallets. A team of Scottish scientists who submitted their reef-repairing robot to Kickstarter raised $3,000 in less than a week with the help of 80 backers, <a href="http://www.bbc.co.uk/news/technology-22198715">the BBC reports</a>. (Since that report, that total has risen to 245 backers, kicking in $8,000.) The campaign has a ways to go yet, however. The team hopes to raise a total of $107,000 before the Kickstarter deadline in June.</p>
<p>The coral-bots, as the team is calling them, work by transplanting damaged coral with pieces of healthy coral, much like a gardener pruning and sowing a plot of flowers. Coral-bots have already succeeded in sea tests, but the researchers still need to hone the machines&#8217; ability to detect healthy coral. The team also needs to design and create robot arms for plucking and putting down appropriate bits of coral. The Kickstarter campaign will directly fund these efforts, and, upon success, the team plans to conduct a live demonstration in a public aquarium. If successful, they would then move on to the first on-the-ground mission in Belize.</p>
<p>The Scottish team aren&#8217;t the only ones turning to crowdfunding to support their work in science. Recently, crowds have help raise funds for projects ranging from <a href="http://www.space.com/20583-crowdfunding-science-moon-alan-stern.html">space exploration</a> to <a href="http://www.kickstarter.com/projects/neillosin/the-symbol-wall-lizards-of-the-pityusic-archipelag">studying rare lizards</a> to <a href="https://www.crowdtilt.com/campaigns/lower-school-science">reinstating science education</a> in third-grade classrooms.</p>
<p>More from Smithsonian.com:</p>
<p><a href="http://blogs.smithsonianmag.com/smartnews/2013/01/kickstarter-works-best-for-game-designers/">Kickstarter Works Best for Game Designers  </a><br />
<a href="http://blogs.smithsonianmag.com/ideas/2012/04/next-up-the-smart-watch/">Next Up? The Smart Watch</a></p>
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		<title>Kickstarter for Surgery Lets You Help Those in Need</title>
		<link>http://blogs.smithsonianmag.com/smartnews/2013/04/kickstarter-for-surgery-lets-you-help-those-in-need/</link>
		<comments>http://blogs.smithsonianmag.com/smartnews/2013/04/kickstarter-for-surgery-lets-you-help-those-in-need/#comments</comments>
		<pubDate>Mon, 15 Apr 2013 20:50:58 +0000</pubDate>
		<dc:creator>Colin Schultz</dc:creator>
				<category><![CDATA[Business]]></category>
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		<category><![CDATA[watsi]]></category>

		<guid isPermaLink="false">http://blogs.smithsonianmag.com/smartnews/?p=13902</guid>
		<description><![CDATA[A crowdfunding venture gives you a way to donate directly to people's surgeries]]></description>
			<content:encoded><![CDATA[<div id="attachment_13906" class="wp-caption alignnone" style="width: 575px"><a href="http://blogs.smithsonianmag.com/smartnews/files/2013/04/04_15_2013_money3.jpg"><img class="size-full wp-image-13906 " title="Money - Black and White Money" src="http://blogs.smithsonianmag.com/smartnews/files/2013/04/04_15_2013_money3-e1366045556721.jpg" alt="" width="575" height="383" /></a><p class="wp-caption-text">Photo: <a href="http://www.flickr.com/photos/doug88888/4612314827/" target="_blank">Doug88888</a></p></div>
<p>Imagine you <a href="https://watsi.org/profile/14fff4cdf054-shoom-yee" target="_blank">burned your arm with boiling water fresh from the stove</a>, or <a href="https://watsi.org/profile/581b2ad9cd7e-elizabeth" target="_blank">your child was born with a clubfoot</a>, or <a href="https://watsi.org/profile/8c0d630cd091-nahashon " target="_blank">you got a deep cut at work</a>. Now imagine you don&#8217;t have health insurance. But not just that, you don&#8217;t have access to the health care or surgery you need. You&#8217;re turned away entirely.</p>
<p>A new online crowd-sourcing venture known at <a href=" https://watsi.org/ " target="_blank">Watsi</a>, <a href="http://www.nytimes.com/2013/04/14/business/watsi-a-crowdfunding-site-offers-help-with-medical-care.html " target="_blank">says the<em> New York Times</em></a>, is looking to give people with money a way to help those who are trapped in such medical circumstances by providing a portal for micro-loan donations. The organization is focusing on “low-cost, high-impact” treatments, says <em>the Times</em>.</p>
<blockquote><p>The procedures range from relatively simple ones like fixing a broken limb to more complicated surgery — say, to remove an eye tumor. But the treatments generally have a high likelihood of success and don’t involve multiple operations or long-term care.</p></blockquote>
<p>Watsi joins a slew of other recent websites designed to let people fund the individual projects or causes that strike a chord: <a href="http://www.kickstarter.com/" target="_blank">Kickstarter</a> and <a href=" http://www.indiegogo.com/projects" target="_blank">Indiegogo</a> are home to products and creative projects, and <a href="http://www.kiva.org/start" target="_blank">Kiva</a> works with micro-loans to entrepreneurs.</p>
<p><a href="http://www.charitynavigator.org/" target="_blank">Unlike many existing charities</a> where large portions of donations can go to <a href="http://www.charitynavigator.org/index.cfm?bay=search.summary&amp;orgid=4509 " target="_blank">administrative fees and overhead</a>, <a href="https://watsi.org/profile/a18887f46195-stefano#transparency_modal " target="_blank">Watsi says</a> that the entire donation goes toward the surgery. They cover office expenses with money raised from donors.</p>
<p>As much as Watsi&#8217;s story is a tale of the new global economy, with people with money individually picking and choosing to fund what they feel is important, it&#8217;s also a testament to the power of the<em> New York Times</em>. Two days after <em>the Times</em>&#8216; profile of the non-profit, <a href=" https://watsi.org/funded-treatments " target="_blank">every single case Watsi had lined up is now fully-funded</a> – for now.</p>
<p>More from Smithsonian.com:</p>
<p><a href="http://blogs.smithsonianmag.com/smartnews/2013/01/kickstarter-works-best-for-game-designers/" rel="bookmark">Kickstarter Works Best for Game Designers</a><br />
<a href="http://blogs.smithsonianmag.com/paleofuture/2012/08/crowdfunding-a-museum-for-alexander-graham-bell-in-1922/" target="_blank">Crowdfunding a Museum for Alexander Graham Bell in 1922</a><br />
<a href="http://blogs.smithsonianmag.com/smartnews/2013/02/this-plastic-printing-pen-lets-you-draw-in-3d/" target="_blank">This Plastic-Printing Pen Lets You Draw In 3D</a></p>
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		<title>Hurricane Katrina Kicked Off a Startup Renaissance in New Orleans</title>
		<link>http://blogs.smithsonianmag.com/smartnews/2013/04/hurricane-katrina-kicked-off-a-startup-renaissance-in-new-orleans/</link>
		<comments>http://blogs.smithsonianmag.com/smartnews/2013/04/hurricane-katrina-kicked-off-a-startup-renaissance-in-new-orleans/#comments</comments>
		<pubDate>Tue, 09 Apr 2013 15:10:10 +0000</pubDate>
		<dc:creator>Rachel Nuwer</dc:creator>
				<category><![CDATA[Business]]></category>
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		<category><![CDATA[education]]></category>
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		<category><![CDATA[Hurricane Katrina]]></category>
		<category><![CDATA[New Orleans]]></category>
		<category><![CDATA[programmers]]></category>
		<category><![CDATA[startups]]></category>
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		<guid isPermaLink="false">http://blogs.smithsonianmag.com/smartnews/?p=13586</guid>
		<description><![CDATA[Within three years after Katrina, the rate of new start-up launches in the city doubled,]]></description>
			<content:encoded><![CDATA[<div id="attachment_13591" class="wp-caption alignnone" style="width: 575px"><a href="http://blogs.smithsonianmag.com/smartnews/files/2013/04/new-orleans.jpg"><img class="size-full wp-image-13591" title="new orleans" src="http://blogs.smithsonianmag.com/smartnews/files/2013/04/new-orleans.jpg" alt="" width="575" height="377" /></a><p class="wp-caption-text">Photo: <a href="http://www.flickr.com/photos/paulwood/2980641475/sizes/z/in/photostream/">PWood</a></p></div>
<p>Hurricane Katrina brought flood waters, destruction and tragedy to New Orleans. But it has also facilitated an entrepreneurial renaissance. Within three years after Katrina, the rate of new start-up launches in the city doubled, the <a href="http://www.theatlantic.com/business/archive/2013/04/the-big-comeback-is-new-orleans-americas-next-great-innovation-hub/274591/"><em>Atlantic</em> reports</a>, and NOLA currently ranks only behind Austin and suburban Washington, D.C., in the speed of its population growth.</p>
<p>Several factors account for these trends, the <em>Atlantic</em> explains:</p>
<ul>
<li>Katrina did bring devastation, but the storm also offered an opportunity to reinvent the city. The school system&#8217;s experiment with charter schools is one of the clearest and best-known examples: Since the storm, the share of students enrolled in charter schools has jumped from 30 to 68 percent, making New Orleans the only major city in the country in which the majority of public school students are enrolled in charter schools.</li>
<li>New Orleans is also an incredibly cheap place to live compared to other major cities. This is a plus for startups struggling to get off the ground, since the cost of labor and office space are so low.</li>
<li>A host of startups have managed to make it big in New Orleans. iSeatz, a company that allows users to book multiple legs of travel on one platform, jumped from gross bookings of $8 million in 2005 to $2 billion in 2013. Another tech company, Kickboard, which helps tracks students&#8217; education progress, raised a $2 million round of funding in February.</li>
</ul>
<p>Of course, not everything is easy in the Big Easy. Demand for programmers far outstrips supply regardless of whether a startup launches in New York, Boston or Seattle. But New Orleans particularly suffers from a shortage of programming talent. The <em>Atlantic</em>:</p>
<blockquote><p>There is no getting around this central fact: The city isn&#8217;t merely miles behind San Jose and Austin in attracting the nation&#8217;s top talent. It&#8217;s behind the national average. The share of New Orleans young adults with a bachelor&#8217;s degree has increased from 23 to 26 percent since 2000. That&#8217;s not just below the average city, but also it&#8217;s growing slower than the average city.</p></blockquote>
<p>But, as the Atlantic points out, entrepreneurs tend to flock. If New Orleans can gain some momentum, the industry might just decide to make the city a new hub.</p>
<p>More from Smithsonian.com:</p>
<p><a href="http://blogs.smithsonianmag.com/ideas/2012/04/when-innovation-flows-uphill/">When Innovation Flows Uphill </a><br />
<a href="http://blogs.smithsonianmag.com/design/2012/09/making-objects-a-dispatch-from-the-future-of-small-batch-manufacturing/">A Dispatch from the Future of Smart-Batch Manufacturing </a></p>
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		<title>Get Your Own Offshore Tax Haven, a Step-by-Step Guide</title>
		<link>http://blogs.smithsonianmag.com/smartnews/2013/04/get-your-own-offshore-tax-haven-a-step-by-step-guide/</link>
		<comments>http://blogs.smithsonianmag.com/smartnews/2013/04/get-your-own-offshore-tax-haven-a-step-by-step-guide/#comments</comments>
		<pubDate>Fri, 05 Apr 2013 16:00:56 +0000</pubDate>
		<dc:creator>Colin Schultz</dc:creator>
				<category><![CDATA[Business]]></category>
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		<category><![CDATA[Trending Today]]></category>
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		<guid isPermaLink="false">http://blogs.smithsonianmag.com/smartnews/?p=13499</guid>
		<description><![CDATA[From $8 to $32 trillion dollars are buried in tax havens worldwide. Here's how it works]]></description>
			<content:encoded><![CDATA[<div id="attachment_13500" class="wp-caption alignnone" style="width: 575px"><a href="http://blogs.smithsonianmag.com/smartnews/files/2013/04/04_05_2013_tax-haven.jpg"><img class="size-full wp-image-13500" title="04_05_2013_tax haven" src="http://blogs.smithsonianmag.com/smartnews/files/2013/04/04_05_2013_tax-haven.jpg" alt="" width="575" height="364" /></a><p class="wp-caption-text">Pick your tax haven, any tax haven. Photo: <a href="http://www.cbc.ca/news/interactives/offshore-tax-havens/" target="_blank">CBC</a></p></div>
<p>“No one knows for certain how much of the planet&#8217;s private wealth is parked in tax havens,” <a href="http://www.cbc.ca/news/interactives/offshore-tax-havens/" target="_blank">says the CBC</a>. “One estimate is that there&#8217;s $32 trillion stashed offshore; a more conservative calculation puts it at a minimum of $8 trillion. Either way, that means tens – if not hundreds – of billions of dollars in lost tax revenues for the world&#8217;s governments.”</p>
<p><a href="http://www.icij.org/offshore " target="_blank">A massive investigate project</a> by <a href="http://www.icij.org/offshore/secret-files-expose-offshores-global-impact " target="_blank">the International Consortium of Investigative Journalists saw reporters dig through 2.5 million files</a>, revealing “the secrets of more than 120,000 offshore companies and trusts, exposing hidden dealings of politicians, con men and the mega-rich the world over.”</p>
<blockquote><p>The leaked files provide facts and figures — cash transfers, incorporation dates, links between companies and individuals — that illustrate how offshore financial secrecy has spread aggressively around the globe, allowing the wealthy and the well-connected to dodge taxes and fueling corruption and economic woes in rich and poor nations alike.</p></blockquote>
<p>ICIJ&#8217;s investigation is an incredibly thorough look at the global tax game, one played by “the wife of Russia’s deputy prime minister,” “Indonesian billionaires with ties to the late dictator Suharto,” along with “American doctors and dentists and middle-class Greek villagers as well as families and associates of long-time despots, Wall Street swindlers, Eastern European and Indonesian billionaires, Russian corporate executives, international arms dealers and a sham-director-fronted company that the European Union has labeled as a cog in Iran’s nuclear-development program.”</p>
<p>Talk of tax havens, loopholes and secret bank accounts and international offices (not always illegal, mind you) comes up all the time when discussing <a href=" http://www.nytimes.com/2012/04/29/business/apples-tax-strategy-aims-at-low-tax-states-and-nations.html?pagewanted=all&amp;_r=0 " target="_blank">how some extremely rich people or corporations avoid paying taxes</a>. Perhaps you&#8217;re curious as to how this seemingly other world works. To that end, <a href="http://www.cbc.ca/news/interactives/offshore-tax-havens/ " target="_blank">the CBC has put together a fun interactive that lets you walk through the steps of how to set up your own tax haven</a>, everything from picking the kind of sham business you want, picking your favorite tax-friendly nation, and deciding whether to use your own name on the documents of one of a “nominee.”</p>
<p>No one is recommending that you<em> actually do this</em>. While holding money in offshore accounts, setting up businesses overseas and many of the other routes taken to hiding money from the tax collectors are not in themselves inherently illegal, moving money in and out of these holdings in ways that allow you to skirt taxes are, meaning that there&#8217;s little reason to go to all the effort if you just plan to keep things above board.</p>
<p>More from Smithsonian.com:</p>
<p><a href="http://blogs.smithsonianmag.com/smartnews/2012/08/in-2010-600-million-in-guns-and-ammo-were-exported-from-the-us/" target="_blank">In 2010 $600 Million in Guns and Ammo Were Exported from the US</a><br />
<a href="http://blogs.smithsonianmag.com/aroundthemall/2011/04/artists-file-taxes-too/" rel="bookmark">Artists File Taxes Too!</a><br />
<a href="http://blogs.smithsonianmag.com/history/2011/11/the-man-who-busted-the-%e2%80%98banksters%e2%80%99/" rel="bookmark">The Man Who Busted the ‘Banksters’</a></p>
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		<title>The Myers-Briggs Personality Test Is Pretty Much Meaningless</title>
		<link>http://blogs.smithsonianmag.com/smartnews/2013/03/the-myers-briggs-personality-test-is-pretty-much-meaningless/</link>
		<comments>http://blogs.smithsonianmag.com/smartnews/2013/03/the-myers-briggs-personality-test-is-pretty-much-meaningless/#comments</comments>
		<pubDate>Tue, 26 Mar 2013 16:30:36 +0000</pubDate>
		<dc:creator>Rose Eveleth</dc:creator>
				<category><![CDATA[Cool Finds]]></category>
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		<category><![CDATA[Myers-Briggs]]></category>
		<category><![CDATA[personality test]]></category>

		<guid isPermaLink="false">http://blogs.smithsonianmag.com/smartnews/?p=12995</guid>
		<description><![CDATA[Everybody relies on those four letters far more than they should]]></description>
			<content:encoded><![CDATA[<div id="attachment_12996" class="wp-caption aligncenter" style="width: 575px"><a href="http://blogs.smithsonianmag.com/smartnews/files/2013/03/5352508903_9626b09069_z.jpg"><img class="size-full wp-image-12996" title="5352508903_9626b09069_z" src="http://blogs.smithsonianmag.com/smartnews/files/2013/03/5352508903_9626b09069_z.jpg" alt="" width="575" height="403" /></a><p class="wp-caption-text">Image: <a href="http://www.flickr.com/photos/mtsofan/5352508903/sizes/z/in/photostream/">John</a></p></div>
<p>Most of psychology hasn&#8217;t ever seen Myers-Briggs test—the one that labels people with mysterious sets of letters like ESTJ, INFP, INTJ— as a good way to learn about people. <a href="http://dilbert.com/strips/comic/2000-01-24/">But companies seem to have missed the boat on that</a>. <a href="http://www.guardian.co.uk/science/brain-flapping/2013/mar/19/myers-briggs-test-unscientific">According to <em>The Guardian</em></a>, they rely on those four letters far more than they should.</p>
<p>Polling their readers, <em>The Guardian</em> uncovered many reports of companies using Myers-Briggs (MBTI, for short) in all sorts of ways. Some companies put it on their employees profiles. Others use the test for team-building. Some even use it during the interview process.</p>
<p>For those who preach the MBTI, this is a quite lucrative business. <em>The Guardian</em> says:</p>
<blockquote><p><a href="https://www.psychometrics.com/en-us/mbti_certification.htm">Training in the MBTI</a> and its variations is typical for those in Human Resources etc. and can be quite expensive. The MBTI as an industry apparently makes $20 million a year. When you&#8217;ve spent so much time and money on learning something, of course you&#8217;re going to have a faith in it, even to the point of <a href="http://www.learningandteaching.info/learning/dissonance.htm">cognitive dissonance</a>.</p></blockquote>
<p>But as for accuracy and helpfulness, well, the MBTI fails that test. Here&#8217;s <em>The Guardian</em> again on just some of the weaknesses:</p>
<blockquote><p>[T]he most obvious flaw is that the MBTI seems to rely exclusively on binary choices&#8230;.For example, in the category of extrovert v introvert, you&#8217;re either one or the other; there is no middle ground. People don&#8217;t work this way, no normal person is either 100% extrovert or 100% introvert, just as people&#8217;s political views aren&#8217;t purely &#8220;communist&#8221; or &#8220;fascist&#8221;. Many who use the MBTI claim otherwise, despite the fact that<a href="http://www.sofia.edu/about/carl_jung.php"> Jung himself disagreed with this </a>and statistical analysis reveals even data produced by the test shows a<a href="http://www.ncbi.nlm.nih.gov/pubmed/14105180"> normal distribution </a>rather than <a href="http://www.processexcellencenetwork.com/glossary/bimodal-distribution/">bimodal</a>, refuting the either/or claims of the MBTI.</p></blockquote>
<p><a href="http://skeptoid.com/">Skeptoid</a> explains a bit about how such an unscientific concept could become so popular. For instance, <a href="http://skeptoid.com/episodes/4221">it fools you in many of the same ways</a> that zodiac signs do:</p>
<blockquote><p>One obvious trait that the MBTI has in common with horoscopes is its tendency to describe each personality type using only positive words. Horoscopes are so popular, in part, because they virtually always tell people just what they want to hear, using phrases that most people generally like to believe are true, like &#8220;You have a lot of unused potential.&#8221; They&#8217;re also popular because they are presented as being personalized based on the person&#8217;s sign. This has been called the Forer Effect, after psychologist Bertram Forer who, in 1948, gave a personality test to his students and then gave each one a supposedly personalized analysis. The impressed students gave the analyses an average accuracy rating of 85%, and only then did Forer reveal that each had received an identical, generic report. Belief that a report is customized for us tends to improve our perception of the report&#8217;s accuracy.</p></blockquote>
<p>Scientists who have tried to validate the test have come up short. One researcher at Indiana University tried to take a rigorous look at the MBTI in comparison to other psychological methods. His conclusion:</p>
<blockquote><p>In summary, it appears that the MBTI does not conform to many of the basic standards expected of psychological tests. Many very specific predictions about the MBTI have not been confirmed or have been proved wrong. There is no obvious evidence that there are 16 unique categories in which all people can be placed. There is no evidence that scores generated by the MBTI reflect the stable and unchanging personality traits that are claimed to be measured. Finally, there is no evidence that the MBTI measures anything of value.</p></blockquote>
<p>Ouch. Now, it&#8217;s not really that surprising that bosses use things that aren&#8217;t proven to work. Things like encouraging multi-tasking. But at <em>The Guardian</em>, Dean Burnett was surprised at just how common the MBTI seemed to be. Here&#8217;s his theory about why:</p>
<blockquote><p>I personally feel it&#8217;s more to do with people&#8217;s tendency to go for anything that offers an easy solution. People will always go for the new <a href="http://www.everydiet.org/fad_diets.htm">fad diet</a>, the <a href="http://rationalwiki.org/wiki/Alternative_medicine">alternative remedy</a>, the <a href="http://www.statmyweb.com/s/wrinkle-trick-that-makes-botox-doctors-furious!">five dollar wrinkle trick that makes dermatologists hate you for some reason</a>. For all that it may be well-intended, the MBTI offers a variation on that. People are very complex, variable and unpredictable. Many users of the MBTI believe that a straightforward test can simplify them to the point where they can be managed, controlled and utilised to make them as efficient and productive as possible. It&#8217;s no wonder businesses are keen to embrace something like that; it would be the ideal tool if it were guaranteed to achieve this.</p></blockquote>
<p>So the next time you see those four letters, whether in online dating or on the job, just know that they mean essentially nothing.</p>
<p>More from Smithsonian.com:</p>
<p><a href="http://blogs.smithsonianmag.com/indexed/2012/01/too-many-bosses-in-the-boardroom/">Too Many Bosses in the Boardroom</a><br />
<a href="http://www.smithsonianmag.com/science-nature/Who-Needs-a-Boss-When-You-Have-Your-Co-Workers-171201051.html">Who Needs a Boss When You Have Your Co-Workers?</a></p>
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		<title>Tracing $1 Bills Across the United States Is a Surprisingly Useful Hobby</title>
		<link>http://blogs.smithsonianmag.com/smartnews/2013/03/tracing-1-bills-across-the-united-states-is-a-surprisingly-useful-hobby/</link>
		<comments>http://blogs.smithsonianmag.com/smartnews/2013/03/tracing-1-bills-across-the-united-states-is-a-surprisingly-useful-hobby/#comments</comments>
		<pubDate>Mon, 25 Mar 2013 17:39:08 +0000</pubDate>
		<dc:creator>Rose Eveleth</dc:creator>
				<category><![CDATA[American History]]></category>
		<category><![CDATA[Cool Finds]]></category>
		<category><![CDATA[Economics]]></category>
		<category><![CDATA[United States]]></category>
		<category><![CDATA[dollar bills]]></category>
		<category><![CDATA[dollars]]></category>
		<category><![CDATA[hobbies]]></category>
		<category><![CDATA[money]]></category>
		<category><![CDATA[where's george]]></category>

		<guid isPermaLink="false">http://blogs.smithsonianmag.com/smartnews/?p=12948</guid>
		<description><![CDATA[What started as a quirky hobby, has turned into a national bill hunt that's useful for all sorts of people - like physicists]]></description>
			<content:encoded><![CDATA[<div id="attachment_12957" class="wp-caption aligncenter" style="width: 575px"><a href="http://blogs.smithsonianmag.com/smartnews/files/2013/03/3216224511_af0eb31f3e_z.jpg"><img class="size-full wp-image-12957" title="3216224511_af0eb31f3e_z" src="http://blogs.smithsonianmag.com/smartnews/files/2013/03/3216224511_af0eb31f3e_z.jpg" alt="" width="575" height="267" /></a><p class="wp-caption-text">Image: <a href="http://www.flickr.com/photos/princeroy/3216224511/">Prince Roy</a></p></div>
<p>In 1998, Hank Eskin started a website called WheresGeorge.com, dedicated to tracking dollar bills across the United States. Members of this club are called Georgers. They stamp dollar bills with their website, then search for and track those bills as they travel across the United States.</p>
<p>At NPR, Stan Alcorn <a href="http://www.npr.org/2013/03/24/174966382/wheres-george-the-trail-of-1-bills-across-the-u-s">caught up with some of these trackers</a>. He writes:</p>
<blockquote><p>[T]ypical Georgers log in religiously to enter their dollars&#8217; serial numbers and ZIP codes before they stamp and spend them. If one gets entered a second time, the Georger gets an email. That&#8217;s called a &#8220;hit.&#8221;</p>
<p>Robert Rothenberg was sitting at the table in Kabooz&#8217;s when he got a hit in New Jersey. He gets a lot of hits, since he&#8217;s entered nearly 100,000 bills into the website&#8217;s database.</p>
<p>&#8220;I have a hit streak going since July of 2010, every day since then. I&#8217;m trying to get to 1,000 days, which will be the end of the month,&#8221; Rothenberg says.</p></blockquote>
<p>Now, what started as a quirky hobby has turned into a national bill hunt that&#8217;s useful for all sorts of people—like physicists. Dirk Brockmann, a physicist at Northwestern University, <a href="http://rocs.northwestern.edu/research/wgstory.html">writes at his website</a> about meeting a cabinet maker in Vermont who tipped him off to the site:</p>
<blockquote><p>After the conference I decided to visit Dennis Derryberry, an old friend from college who lives within driving distance to Montreal in the green mountains of Vermont, where he works as a cabinet maker. After a few hours on the highway Dennis and his family welcomed me to their beautiful house in the woods. During this visit Dennis, one of the most witty individuals I have ever met, asked me one evening on his porch while we were having a beer, “So Dirk, what are you working on?” – “I’m interested in the patterns that underly human travel,” I replied, and told him about my efforts to better understand human mobility and our goal of developing more quantitative models for the spread of epidemics. “It’s just amazingly difficult to compile all this data,” I explained. Dennis paused a while and then inquired, “Do you know this website <a href="http://www.wheresgeorge.com/">www.wheresgeorge.com</a>?”</p></blockquote>
<p>From there, Brockmann has <a href="http://rocs.northwestern.edu/research/wgstory.html">used the bills to study how networks move move and change, infectious diseases and all sorts of other things</a>. Eskin, for one, is surprised at both the popularity and the usefulness of his little project. And when Georgers get together, it still feels like a small club. Here&#8217;s NPR again:</p>
<blockquote><p>At Kabooz&#8217;s Bar and Grill at New York&#8217;s Penn Station, Jennifer Fishinger is covering her table in stacks of ones. There are 500 $1 bills laid out.</p>
<p>At the next table over, David Henry has his stacks of cash in plastic bags. They&#8217;re paper-clipped $1 bills in groups of 10.</p></blockquote>
<p>If only everyone else&#8217;s little hobbies could do the same amount for science.</p>
<p>More from Smithsonian.com:</p>
<p><a href="http://blogs.smithsonianmag.com/smartnews/2012/11/to-save-money-ask-for-pretty-new-dollar-bills/">To Save Money, Ask for Pretty, New Dollar Bills</a><br />
<a href="http://www.smithsonianmag.com/arts-culture/On-the-Money.html">On the Money</a></p>
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		<title>It&#8217;s Not Just You: Garfield Is Not Meant to Be Funny</title>
		<link>http://blogs.smithsonianmag.com/smartnews/2013/03/its-not-just-you-garfield-is-not-meant-to-be-funny/</link>
		<comments>http://blogs.smithsonianmag.com/smartnews/2013/03/its-not-just-you-garfield-is-not-meant-to-be-funny/#comments</comments>
		<pubDate>Wed, 20 Mar 2013 19:56:58 +0000</pubDate>
		<dc:creator>Rose Eveleth</dc:creator>
				<category><![CDATA[American History]]></category>
		<category><![CDATA[Arts]]></category>
		<category><![CDATA[Books]]></category>
		<category><![CDATA[Business]]></category>
		<category><![CDATA[Cool Finds]]></category>
		<category><![CDATA[Economics]]></category>
		<category><![CDATA[business]]></category>
		<category><![CDATA[cartoons]]></category>
		<category><![CDATA[Garfield]]></category>
		<category><![CDATA[marketing]]></category>

		<guid isPermaLink="false">http://blogs.smithsonianmag.com/smartnews/?p=12814</guid>
		<description><![CDATA[Unlike New Yorker cartoons, in which, you are actually missing the joke, Garfield is in fact not even designed to be funny]]></description>
			<content:encoded><![CDATA[<div id="attachment_12815" class="wp-caption aligncenter" style="width: 575px"><a href="http://blogs.smithsonianmag.com/smartnews/files/2013/03/2189014070_339cb830f9_z.jpg"><img class="size-full wp-image-12815" title="2189014070_339cb830f9_z" src="http://blogs.smithsonianmag.com/smartnews/files/2013/03/2189014070_339cb830f9_z.jpg" alt="" width="575" height="383" /></a><p class="wp-caption-text">Image: <a href="http://www.flickr.com/photos/jerryknight/2189014070/sizes/z/in/photostream/">Jerry Knight</a></p></div>
<p>If you grew up in a house that got the funny pages, you might remember Garfield the cat. And you might remember thinking that he was&#8230;not that funny. Well, it turns out you&#8217;re not as humorless as you might have thought. Unlike New Yorker cartoons, in which you are actually missing the joke, Garfield is not even designed to be funny.</p>
<p>On Quora, <a href="http://www.quora.com/Garfield-comic-strip/Is-Garfield-supposed-to-be-funny?__pmsg__=+d3R4dkhwTUJUR1J3Ykc2M1VXQzU6YS5hcHAudmlldy5wbXNnLmFsbC5Mb2dnZWRJbkZyb21MaW5rOltbMzI1MzE4MF0sIHt9XQ**">someone asked this question</a> and got a surprisingly interesting response from a woman who used to be bombarded with licensing proposals from none other than Jim Davis, the creator of Garfield. She <a href="http://www.slate.com/articles/news_and_politics/assessment/2004/06/garfield.single.html">dug up this Slate article</a> that suggests that Davis really had no intention of making the strip funny at all:</p>
<blockquote><p>Davis makes no attempt to conceal the crass commercial motivations behind his creation  of <em>Garfield</em>. (Davis) carefully studied the marketplace when developing <em>Garfield</em>. The genesis of the strip was &#8220;a conscious effort to come up with a good, marketable character,&#8221; Davis told Walter Shapiro in a 1982 interview in the<em>Washington Post</em>. &#8220;And primarily an animal. … Snoopy is very popular in licensing. Charlie Brown is not.&#8221; So, Davis looked around and noticed that dogs were popular in the funny papers, but there wasn&#8217;t a strip for the nation&#8217;s 15 million cat owners. Then, he consciously developed a stable of recurring, repetitive jokes for the cat. He hates Mondays. He loves lasagna. He sure is fat.</p>
<p>…</p>
<p>The model for <em>Garfield </em>was Charles Schulz&#8217;s <em>Peanuts</em>, but not the funny <em>Peanuts</em> of that strip&#8217;s early years. Rather, Davis wanted to mimic the sunny, humorless monotony of <em>Peanuts</em>&#8216; twilight years. &#8220;After 50 years, Snoopy was still laying in that dog house, and rather than getting old, it actually has the opposite effect,&#8221; Davis told the <em>Chicago Sun-Times</em> last year during the press blitz for <em>Garfield</em>&#8216;s 25th anniversary.</p></blockquote>
<p>Caroline Zelonka, the intrepid Quora answerer, also argues that, even without the strip, Davis could make tons of money from Garfield.* She writes:</p>
<blockquote><p> The strip isn&#8217;t what&#8217;s important: what with the movies, plush toys, branded pet food, even the &#8220;Garfield Pizza Cafe&#8221; in Kuala Lumpur.</p></blockquote>
<p>And it turns out the Peanuts creater Charles Schultz hated Garfield, according to one other answerer:</p>
<blockquote><p>About 25 years ago I met a woman who worked for United Features Syndicate. UFS represented Peanuts as well as Garfield and countless other cartoons.</p>
<p>We got to talking and she told me a story about her early days with the syndicate. She was hired to work on Peanuts business (licensing, merchandising) and one of her first assignments was to fly out to Santa Rosa, California, where Charles Schulz lived, stay in his house for a week, and establish a good relationship. After a couple of days she was distraught because Schulz did not seem to be warming up to her. Might she lose her job? She tried harder to make him like her. Finally after another day or so he casually asked her, &#8220;What percentage of your time will be devoted to the Peanuts property?&#8221;</p>
<p>&#8220;One hundred percent,&#8221; she assured him. &#8220;I was hired to work only on Peanuts.&#8221;</p>
<p>She could see the ice cracking already. He gave her a relieved look and said, &#8220;GOOD. BECAUSE I THINK THAT CAT IS STUPID.&#8221;</p>
<p>By the end of the week they had a warm and trusting business relationship.</p></blockquote>
<p>Other comedians have taken up the challenge of making Garfield funny. There&#8217;s the <a href="http://www.lasagnacat.com/">Lasagna Cat site</a>, and the existential crisis of John in <a href="http://garfieldminusgarfield.net/post/44547555944/g-g-the-book-g-g-on-facebook-g-g-on-twitter">Garfield Minus Garfield</a>.</p>
<p>Other people on the Quora answers have different takes on why Garfield has the elements of humor, but isn&#8217;t funny. Joshua Engel cites Aristotle, saying:</p>
<blockquote><p>The strips aren&#8217;t exactly uproariously funny, but the fundamental building blocks of humor are there. It&#8217;s kind of Aristotelian, actually. From the <em>Poetics:</em></p>
<p>Comedy is, as we have said, an imitation of characters of a lower type—not, however, in the full sense of the word bad, the ludicrous being merely a subdivision of the ugly. It consists in some defect or ugliness which is not painful or destructive. To take an obvious example, the comic mask is ugly and distorted, but does not imply pain.*</p>
<p>We can definitely quibble with Aristotle&#8217;s definition, but it&#8217;s the essence of Garfield. Jon is both ugly and defective, but not generally in a painful way. Aristotle&#8217;s definition of comedy relied just on our feeling superior to him.</p></blockquote>
<p>But no matter how you slice the lasagna, Garfield just isn&#8217;t that funny, and Davis is still incredibly rich—something comedians, many of whom have the first part down, could take a lesson from.</p>
<p><strong>*Updated: This post originally reported, in error, that new Garfield strips were no longer being published</strong></p>
<p>More from Smithsonian.com:</p>
<p><a href="http://blogs.smithsonianmag.com/dinosaur/2010/11/dinosaur-comics-stampede/">Dinosaur Comics Stampede</a><br />
<a href="http://blogs.smithsonianmag.com/science/2012/04/science-comics-rule-the-web/">Science Comics Rule the Web</a></p>
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		<title>This Giant Snail Is Giving Australia Terrible Flashbacks to the Last Giant Snail Takeover</title>
		<link>http://blogs.smithsonianmag.com/smartnews/2013/03/this-giant-snail-is-giving-australia-terrible-flashbacks-to-the-last-giant-snail-takeover/</link>
		<comments>http://blogs.smithsonianmag.com/smartnews/2013/03/this-giant-snail-is-giving-australia-terrible-flashbacks-to-the-last-giant-snail-takeover/#comments</comments>
		<pubDate>Tue, 12 Mar 2013 17:03:06 +0000</pubDate>
		<dc:creator>Rose Eveleth</dc:creator>
				<category><![CDATA[Africa]]></category>
		<category><![CDATA[Agriculture]]></category>
		<category><![CDATA[Biology]]></category>
		<category><![CDATA[Cool Finds]]></category>
		<category><![CDATA[Economics]]></category>
		<category><![CDATA[Food]]></category>
		<category><![CDATA[Pacific]]></category>
		<category><![CDATA[Travel]]></category>
		<category><![CDATA[Wildlife]]></category>
		<category><![CDATA[Australia]]></category>
		<category><![CDATA[giant African snail]]></category>
		<category><![CDATA[invasive species]]></category>
		<category><![CDATA[pest]]></category>

		<guid isPermaLink="false">http://blogs.smithsonianmag.com/smartnews/?p=12389</guid>
		<description><![CDATA[The giant African snail is a true nightmare. So when Australian officials found one in a shipping container yard in Brisbane, they destroyed it as quickly as possible]]></description>
			<content:encoded><![CDATA[<div id="attachment_12398" class="wp-caption aligncenter" style="width: 575px"><a href="http://blogs.smithsonianmag.com/smartnews/files/2013/03/6947960770_a3faf01c4f_z.jpg"><img class="size-full wp-image-12398" title="6947960770_a3faf01c4f_z" src="http://blogs.smithsonianmag.com/smartnews/files/2013/03/6947960770_a3faf01c4f_z.jpg" alt="" width="575" height="383" /></a><p class="wp-caption-text">Image: <a href="http://www.flickr.com/photos/usdagov/6947960770/sizes/z/in/photostream/&quot;">USDA</a></p></div>
<p>In Australia, they&#8217;ve got a giant snail problem. The giant African snail is a true nightmare. These snails grow to the size of a baseball, can lay 1,200 eggs every year, survive all sorts of extreme temperatures, have no natural predators, and eat 500 crops, plus the sides of houses. Also, they carry meningitis that can infect and kill humans. Somewhat understandably, Australia isn&#8217;t pleased with any of this. So when one of these snails showed up in a shipping container yard in Brisbane, it <a href="http://www.reuters.com/article/2013/03/12/us-australia-snail-idUSBRE92B07120130312?feedType=RSS&amp;feedName=scienceNews&amp;utm_source=dlvr.it&amp;utm_medium=twitter&amp;dlvrit=309301">was seized by Australian officials and destroyed</a>, as quickly as possible.</p>
<p>The last time Australia dealt with the snail was in 1977, when they spent eight months hunting the invaders and exterminated 300 of them. Florida has dealt with the snail in the past too, spending a million dollars in 1975 to get rid of the snail that they estimated cost $11 million in damages each year. And last year, they were back in Miami. <a href="http://abcnews.go.com/blogs/headlines/2011/09/giant-african-snails-invade-miami-florida/">ABC News reports</a>:</p>
<blockquote><p>Officials realized they had a problem on their hands last week when two sisters flagged down a fruit fly inspector performing a routine check.</p>
<p>“A homeowner came out and said, I found these snails in my yard and she had one of them.  He recognized it as potentially being a giant African land snail,” Feiber said.</p>
<p>Officials have been focusing on the one square mile area around the home in southwest Miami. They are only 30 to 40 percent done with their investigation and have already found 1,100 snails.</p></blockquote>
<p>These snails were so bad that NPR actually ran a story with the headline: &#8220;<a href="http://www.npr.org/2011/09/17/140540662/miami-invaded-by-giant-house-eating-snails">Miami Invaded By Giant, House-Eating Snails</a>.&#8221;</p>
<p><a href="http://www.daff.gov.au/aqis/quarantine/pests-diseases/plants-products/giant_african_snail">The Department of Agriculture, Fisheries and Forestry of Australia has this to say about the snails</a>:</p>
<blockquote><p>Giant African snail originated in East Africa and is now present on most Pacific and Indian Ocean islands. The species was first recorded in American Samoa in the mid-1970s: a million snails were collected by hand in 1977 during a government campaign to reduce snail numbers, and more than 26 million snails were collected over the following three years.</p></blockquote>
<p>The snails can come from all over. They might hitch a ride on a shipping container. Humans sometimes ship them in intentionally: In Miami, officials think an earlier snail outbreak might have come from a man practicing the African religion If a Orisha. In 1965, a child brought some snails back from Hawaii in his pocket, costing the city a million dollars and ten years of work.</p>
<p>All this makes it a little more understandable why Australia has spent so much energy killing this one individual snail.</p>
<p>More from Smithsonian.com:</p>
<p><a href="http://www.smithsonianmag.com/arts-culture/photo-of-the-day/?date=09%2F24%2F2008">Snail on an apple</a><br />
<a href="http://blogs.smithsonianmag.com/dinosaur/2010/08/prehistoric-poo-linked-dinosaurs-to-snails/">Prehistoric Poo Linked Dinosaurs to Snails</a></p>
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		<title>Dennis Hope Thinks He Owns the Moon</title>
		<link>http://blogs.smithsonianmag.com/smartnews/2013/03/dennis-hope-thinks-he-owns-the-moon/</link>
		<comments>http://blogs.smithsonianmag.com/smartnews/2013/03/dennis-hope-thinks-he-owns-the-moon/#comments</comments>
		<pubDate>Mon, 11 Mar 2013 15:39:16 +0000</pubDate>
		<dc:creator>Colin Schultz</dc:creator>
				<category><![CDATA[Astronomy]]></category>
		<category><![CDATA[Cool Finds]]></category>
		<category><![CDATA[Economics]]></category>
		<category><![CDATA[buy]]></category>
		<category><![CDATA[dennis hope]]></category>
		<category><![CDATA[lunar embassy]]></category>
		<category><![CDATA[sell]]></category>
		<category><![CDATA[the moon]]></category>

		<guid isPermaLink="false">http://blogs.smithsonianmag.com/smartnews/?p=12329</guid>
		<description><![CDATA[Dennis Hope claims to own the Moon, and he wants to sell you an acre for just $19.99 plus taxes and fees]]></description>
			<content:encoded><![CDATA[<div id="attachment_12330" class="wp-caption alignnone" style="width: 575px"><a href="http://blogs.smithsonianmag.com/smartnews/files/2013/03/03_11_2013_man-sold-moon.jpg"><img class="size-full wp-image-12330" title="dennis hope" src="http://blogs.smithsonianmag.com/smartnews/files/2013/03/03_11_2013_man-sold-moon.jpg" alt="" width="575" height="328" /></a><p class="wp-caption-text">Dennis Hope stands next to a map of the Moon, showing (in red) all the plots of land he&#8217;s sold. Photo: Screenshot of &#8216;<a href="http://www.nytimes.com/2013/03/11/opinion/the-man-who-sells-the-moon.html?partner=rss&amp;emc=rss&amp;_r=1&amp;" target="_blank">The Man Who Sells the Moon&#8217; by Simon Ennis</a></p></div>
<p>For the past 33 years, Dennis Hope has been selling the Moon, piece by piece. For the price of a nice dinner, Hope and his company—<a href="http://www.lunarembassy.com/" target="_blank">the Lunar Embassy Corporation</a>—will offer you an acre of<em> terra luna</em>. Hope and his controversial (and wholly flawed) claim to own the Moon is a semi-regular topic of discussion, with <em><a href="http://news.nationalgeographic.com/news/2009/07/090717-who-owns-moon-real-estate.html" target="_blank">National Geographic</a></em> and <em><a href="http://discovermagazine.com/2007/jul/location-location-location#.UT3qHRysiSo" target="_blank">Discover</a></em> both looking into (and debunking) the business sense.</p>
<p>But <a href="https://twitter.com/this_is_siguy" target="_blank">Simon Ennis</a> <a href="http://www.nytimes.com/2013/03/11/opinion/the-man-who-sells-the-moon.html" target="_blank">made a fun mini-documentary for <em>T</em><em>he New York Times,</em> looking at the curious man behind the plan</a>—a ventriloquist-turned-entrepreneur with an eye on the sky.</p>
<p>In the documentary, Hope details his justification of his business and his plan for a interplanetary embassy based on the Moon. Ennis&#8217; profile gives a glimpse into the life of the man who self describes as “the wealthiest individual on the planet&#8230; in theory.”</p>
<p>Hope&#8217;s claim to the Moon isn&#8217;t very strong, <a href="http://discovermagazine.com/2007/jul/location-location-location#.UT3qHRysiSo" target="_blank">as <em>Discover</em> explained years ago</a>:</p>
<blockquote><p>Ram Jakhu, law professor at the Institute of Air and Space Law at McGill University in Montreal, says that Hope’s claims aren’t likely to hold much weight. Nor, for that matter, would any nation’s. “I don’t see a loophole,” Jakhu says. “The moon is a common property of the international community, so individuals and states cannot own it. That’s very clear in the U.N. treaty. Individuals’ rights cannot prevail over the rights and obligations of a state.”</p></blockquote>
<p>However, says Ennis for the<em> Times</em>, the business, which <a href="http://discovermagazine.com/2007/jul/location-location-location#.UT3qHRysiSo" target="_blank">as of a few years ago had earned Hope millions of dollars</a>, has an alternative justification:</p>
<blockquote><p>Personally, I think what he’s doing is acceptable. Even if Mr. Hope’s lunar land certificates have no financial value, they do seem to provide another benefit. The moon inspires awe — its white blankness is the perfect backdrop for any kind of dream we might have. Feelings of optimism and wonder can be worth quite a lot.</p></blockquote>
<p>More from Smithsonian.com:</p>
<p><a href="http://blogs.smithsonianmag.com/paleofuture/2012/02/honeymoon-on-the-moon/" rel="bookmark">Honeymoon on the Moon</a><br />
<a href="http://blogs.smithsonianmag.com/science/2012/10/how-the-moon-was-made-a-massive-collision/" rel="bookmark">How the Moon Was Made</a></p>
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		<title>How Would Thomas Jefferson Solve the Fiscal Crisis?</title>
		<link>http://blogs.smithsonianmag.com/smartnews/2013/03/how-would-thomas-jefferson-solve-the-fiscal-crisis/</link>
		<comments>http://blogs.smithsonianmag.com/smartnews/2013/03/how-would-thomas-jefferson-solve-the-fiscal-crisis/#comments</comments>
		<pubDate>Thu, 07 Mar 2013 17:22:47 +0000</pubDate>
		<dc:creator>Angela Serratore</dc:creator>
				<category><![CDATA[American History]]></category>
		<category><![CDATA[Cool Finds]]></category>
		<category><![CDATA[Economics]]></category>
		<category><![CDATA[Political History]]></category>
		<category><![CDATA[Trending Today]]></category>
		<category><![CDATA[United States]]></category>
		<category><![CDATA[government spending]]></category>
		<category><![CDATA[sequester]]></category>
		<category><![CDATA[taxes]]></category>
		<category><![CDATA[thomas jefferson]]></category>

		<guid isPermaLink="false">http://blogs.smithsonianmag.com/smartnews/?p=12271</guid>
		<description><![CDATA[ Jefferson managed to cut military spending by nearly half, end the whiskey tax and buy a third of North America]]></description>
			<content:encoded><![CDATA[<div id="attachment_12279" class="wp-caption aligncenter" style="width: 575px"><a href="http://blogs.smithsonianmag.com/smartnews/files/2013/03/tj1.jpg"><img class="size-full wp-image-12279" src="http://blogs.smithsonianmag.com/smartnews/files/2013/03/tj1.jpg" alt="" width="575" height="383" /></a><p class="wp-caption-text"><em>Cut spending, be immortalized on the nickel <a href="http://www.whitehousehistory.org/whha_classroom/classroom_9-12-visionary-jefferson.html">Image: White House Historical Foundation<br /></a></em></p></div>
<p>Some founding fathers were no strangers to the sort of fiscal woes that Congress, under increasing pressure to solve the ever-worsening financial crisis, faces today. Thomas Jefferson, elected in 1800, inherited $83 million dollars worth of federal debt. His plan to get the fledgling United States out of the hole? Government spending cuts! The <em>History News Network</em> lays out <a href="http://hnn.us/articles/thomas-jeffersons-radical-plan-avert-fiscal-cliff">his plan</a>:</p>
<blockquote><p>Jefferson understood that debt was necessary to pay for war and to invest in the public good, but he believed that “neither the representatives of a nation, nor the whole nation itself, assembled can validly engage debts beyond what they may pay in their own time&#8230;.” That was a generation, according to Jefferson, and his <a id="_GPLITA_0" title="Click to Continue &gt; by CouponDropDown" href="http://hnn.us/articles/thomas-jeffersons-radical-plan-avert-fiscal-cliff#">debt reduction plan</a>, devised by his Secretary of Treasury Albert Gallatin, was to eliminate the debt he inherited in sixteen years.</p>
<p><span style="font-size: 13px;">“We are hunting out and abolishing multitudes of useless offices,” Jefferson proudly wrote his son-in-law, “striking off </span><a id="_GPLITA_2" title="Click to Continue &gt; by CouponDropDown" href="http://hnn.us/articles/thomas-jeffersons-radical-plan-avert-fiscal-cliff#">jobs</a><span style="font-size: 13px;">, lopping them down silently.”</span></p>
<p>The problem was that the civilian government was more muscle than lard, including only 130 employees. Gallatin explained to Jefferson that while cutting <a id="_GPLITA_3" title="Click to Continue &gt; by CouponDropDown" href="http://hnn.us/articles/thomas-jeffersons-radical-plan-avert-fiscal-cliff#">civilian jobs</a> saved thousands of dollars, they could save hundreds of thousands more if they followed federal expenditures, which mostly went to the military.</p></blockquote>
<p>Jefferson took his anti-military spending platform even further in his 1801 <a href="http://www.let.rug.nl/usa/presidents/thomas-jefferson/state-of-the-nation-1801.php">State of the Nation address</a>:</p>
<blockquote><p><span style="font-size: 13px;">War, indeed, and untoward events may change this prospect of things and call for expenses which imposts could not meet; but sound principles will not justify our taxing the industry of our fellow citizens to accumulate treasure for wars to happen we know not when, and which might not, perhaps, happen but from the temptations offered by that treasure.</span></p></blockquote>
<p>Through a series of strategic moves that would puzzle even the most savvy political strategist of 2013, Jefferson managed to cut military spending by nearly half (for comparison, the cuts facing the military as a result of the sequester hover in the 10 percent range), end the <a href="http://en.wikipedia.org/wiki/Whiskey_Rebellion">whiskey tax</a> <em>and</em> buy a <a href="http://en.wikipedia.org/wiki/Louisiana_Purchase">third of North America</a>.</p>
<p>More from Smithsonian.com:</p>
<p><a href="http://www.smithsonianmag.com/history-archaeology/The-Essentials-Five-Books-on-Thomas-Jefferson.html">The Essentials: Five Books on Thomas Jefferson</a><br />
<a href="http://blogs.smithsonianmag.com/smartnews/2012/06/a-little-perspective-congress-first-mandated-health-care-in-1798/">A Little Perspective: Congress First Mandated Health Care in 1798</a></p>
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