the economist
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《经济学家》推荐的英文书籍及简介《经济学家》(The Economist)是一份国际性的经济与商业周刊,涵盖了全球范围内的政治、商业、科技、金融等多个领域的报道和分析。
以下是一些根据《经济学家》推荐的英文书籍及简介,注意这只是一个示例,而且由于时间有限,我无法提供最新的推荐。
你可以查阅最新一期或他们的书评专栏获取更多信息。
1.《Sapiens:A Brief History of Humankind》-作者:Yuval NoahHarari简介:这本书以生动的语言概括了人类历史的发展,从早期的人类社会到现代文明。
作者提出了一些深刻的见解,涉及文化、宗教、科技等方面。
2.《The Great Convergence:Information Technology and the NewGlobalization》-作者:Richard Baldwin简介:本书探讨了信息技术是如何改变全球经济和社会格局的。
作者分析了数字化时代的新趋势,以及它对全球化和国际贸易的影响。
3.《The Third Pillar:How Markets and the State Leave theCommunity Behind》-作者:Raghuram Rajan简介:作者讨论了市场和国家之间的权衡,以及社区在这个平衡中的角色。
他提出了一种重新思考社会政策的方式,强调了社区在现代社会中的重要性。
4.《The Code of Capital:How the Law Creates Wealth andInequality》-作者:Katharina Pistor简介:本书解析了资本主义中法律的角色,以及法律如何塑造了财富的分配和不平等。
作者通过法律视角分析了资本主义体系的一些关键问题。
5.《The Narrow Corridor:States,Societies,and the Fate of Liberty》-作者:Daron Acemoglu,James A.Robinson简介:这本书由《为什么国家失败》的作者撰写,研究了国家、社会和自由之间的关系。
The Economist Date:2016.1.11Mon--2016.1.12TueTitle:Star Wars, Disney and myth-makingIssue:2015.12.9-2016.1.1Page:13Time:1.1)12:55-13:06 (11’):1st read2)13:07-13:30(23’): new words2.3)19:17- :TranslatingNew Words:Sentences:1..Translation Exercises:星球大战,迪士尼和神话创作一个公司如何控制讲故事的业务“觉醒军团”在遥远的银河系之外正在前往影院途中,最新星战传说这个圣诞节是无可挡。
自从卢卡斯影业首次使用星球大战名称,拥有独家发行权,在2012年被迪士尼以41亿美元收购,这不仅仅代表了深受喜欢的科幻小说系列复兴。
这再一次证明了迪士尼近十年来一系列精明收购的成功(见25-27页)。
收购了皮克斯,漫威和卢卡斯之后,迪士尼有效地利用了其知识产权,这样做,奠定了他在神话工业化市场领军地位。
他成功依靠现在神话创作三要素:比喻,技术和玩具。
从荷马到韩·苏罗先说比喻。
迪士尼资产包括从“雷神”到“玩具总动员”所有一切,在老套的结构基础上创作故事以引起文化共鸣。
怀特·迪士尼自身对预言有着准确的把握。
星球大战创始人乔治·卢卡斯是约瑟夫·坎贝尔作品的忠实学生,约瑟夫·坎贝尔是美国著名的神话创作者,他构建了“英雄之旅”框架,讲述了英雄响应召唤,在良师的协助下航行至另一世界,经历重重考验,最终获得胜利的故事。
电影制造商仅仅抢占古代神话和民俗。
漫威环球影业更加深入,直接启用古罗马和挪威神话。
(这提升了迪士尼严厉加强知识产权法的热情,略显讽刺的是从表面上看是永久的版权延期,。
神话的内在机制随时间推移并无大的变化,但是用于展现他们的技术变化颇大。
The Economist 《经济学人》常用词汇总结,太珍贵了!!1、绝对优势(Absolute advantage)如果一个国家用一单位资源生产的某种产品比另一个国家多,那么,这个国家在这种产品的生产上与另一国相比就具有绝对优势。
2、逆向选择(Adverse choice)在此状况下,保险公司发现它们的客户中有太大的一部分来自高风险群体。
3、选择成本(Alternative cost)如果以最好的另一种方式使用的某种资源,它所能生产的价值就是选择成本,也可以称之为机会成本。
4、需求的弧弹性( Arc elasticity of demand)如果P1和Q1分别是价格和需求量的初始值,P2 和Q2 为第二组值,那么,弧弹性就等于-(Q1-Q2)(P1+P2)/(P1-P2)(Q1+Q2)5、非对称的信息(Asymmetric information)在某些市场中,每个参与者拥有的信息并不相同。
例如,在旧车市场上,有关旧车质量的信息,卖者通常要比潜在的买者知道得多。
6、平均成本(Average cost)平均成本是总成本除以产量。
也称为平均总成本。
7、平均固定成本( Average fixed cost)平均固定成本是总固定成本除以产量。
8、平均产品(Average product)平均产品是总产量除以投入品的数量。
9、平均可变成本(Average variable cost)平均可变成本是总可变成本除以产量。
10、投资的β(Beta)β度量的是与投资相联的不可分散的风险。
对于一种股票而言,它表示所有现行股票的收益发生变化时,一种股票的收益会如何敏感地变化。
11、债券收益(Bond yield)债券收益是债券所获得的利率。
12、收支平衡图(Break-even chart)收支平衡图表示一种产品所出售的总数量改变时总收益和总成本是如何变化的。
收支平衡点是为避免损失而必须卖出的最小数量。
13、预算线(Budget line)预算线表示消费者所能购买的商品X和商品Y的数量的全部组合。
全国气候:政治搭台,科学唱戏Climate change 气候变化heated debate 激辩Nov 26th 2009From The Economist print editionWhy political orthodoxy must not silence scientific argument为何有了政治说法,还应有科学的辩论?Illustration by Claudio Munoz“WHAT is truth?” That was Pontius Pilate’s answer to Jesus’s assertion that “Everyone that is of the truth heareth my voice.” It sounds suspiciously like the modern argument over climate change.“真理是什么?”耶稣说完“相信真理的人都能听到我”之后,彼拉多随即如此问道。
听起来耳熟?在当代,气候变化引起的争辩就与此有相似之处。
A majority of the world’s climate sc ientists have convinced themselves, and also a lot of laymen, some of whom have political power, that the Earth’s climate is changing; that the change, from humanity’s point of view, is for the worse; and that the cause is human activity, in the form of excessive emissions of greenhouse gases such as carbon dioxide.国际上,大多数气候科学家不但说服了自己,也说服了很多门外汉(其中包括一些有政治影响力的人)--地球的气候正在改变;这种改变,从人道主义角度来看,是消极的;这种改变的始作俑者是人类,是他们通过排放超量的诸如二氧化碳的温室气体而造成的。
Economist Intelligence Unit(经济学人)公司:EIU成立于1946年,60多年是经济学人集团(The Economist Group)的子公司、经济分析智囊部门,总部:伦敦EIU的服务:针对国家、产业、管理领域内的经济预测分析与咨询服务1. 针对全球200 多个国家的国情与经济分析预测(标准)报告-(如Country Report)2. 针对全球六个主要行业及27个子行业的分析报告与数据– (即: Industry Briefing)3. 定制研究(各国制定的行业与市场研究/ 风险评估)-Custom ResearchEIU的核心价值:1. 全球分析团队 2. 高度强调分析的客观性、独立性、透明性、简洁度3. 宏观经济数据的全球性4. 最擅长经济预测(国家预测-报告、风险预测-报告加数据、指标的预测、)预测核心团队在伦敦EIU的分析团队:常驻世界各国的130多位经济学家和650多名分析师及资深政治与经济类编辑。
一、EIU的(标准)报告与数据:1.《国家主权风险报告Country Risk Service / CRS》:《国家主权风险报告》对全球120个国家或地区的金融风险进行了深入、持续更新的分析,帮助用户对全球各国的信贷风险有及时全面的了解。
《国家主权风险报告》关注那些与金融风险相关的经济指标,并对这些经济指标进行两年期的预测。
这些指标中包括:经常帐项目、融资要求、外汇储备、短期债务、“热钱流向”、以及银行风险。
EIU 另提供在线版国家风险分析模型(Country Risk Model)供企业开展内部国别风险分析。
每份报告的内容目录:整体国家风险评级—对全球各国的商业风险进行量化评估。
政治风险前景—分析可能影响该国或地区稳定性的政治因素,如:战争、社会不稳定性、政治动荡等。
经济前景—分析政府财务状况、经济成长前景、以及国内金融指标等。
外部金融和信贷风险—分析该国货地区的外部金融状况,包括经常帐项目、外债、外汇储备等。
(15)《经济学人》中英对照TEXT 1 Rebuilding the American dream chine 重建美国梦机器 Jan 19th xx | NEW YORK From The Economist print edition FOR America's colleges, January is a month of reckoning. Most applications for the next academic year beginning in the autumn have to be de by the end of De mber, so a university's popularity is put to an objective standard: how ny people want to attend. One of the more unlikely offi s to have been flooded with il is that of the City University of New York (CUNY), a public college that lacks, among other things, a famous sports team, bucolic campuses and raucous parties (it doesn't even have dorms), and, until re ntly, academic credibility. 对美国的大学而言,一月是一个清算的月份。
大多数要进入将于秋季开学的下一学年学习的申请必须在12月底前完成,因此一所大学的声望就有了客观依据:申请人的多少。
纽约城市大学,一所公立学院,与其他学校相比,它没有一支声名显赫的运动队,没有田园诗一般的校园,也没有喧嚣嘈杂的派对——甚至连宿舍都没有,而且,直到最近也没取得学术上的可信度,可就是这所大学的办公室塞满了学生们寄来的申请函,这简直有些令人难以置信。
1Johansen,-Soren European U Institute, Firenze11160.215382104 2Krugman,-Paul-R.MIT37154.81084.31187 3Barro,-Robert-J.U Harvard22126.51179.21535 4Fama,-Eugene-F.U Chicago79111.98211182 5Andrews,-Donald-W.-K.U Yale410110.6914.21161 6Phillips,-Peter-C.-B.U Yale55105.78871331 7Levine,-Ross U MN Twin Cities912105.6614.71097 8Shleifer,-Andrei U Harvard10394.3599.21448 9Romer,-Paul-M.U Stanford61691.1832.8937 10Tirole,-Jean U Toulouse I171588.9516.7966 11Krueger,-Alan-B.Princeton U121483.5589.81012 12Svensson,-Lars-E.-O.U Stockholm215683.4482.7572 13Hansen,-Bruce-E.U WI Madison133177.1572752 14Kahneman,-Daniel Princeton U11472.9595.31349 15Heckman,-James-J.U Chicago314268.3398.3640 16Sala-i-Martin,-Xavier Columbia and Pompeu Fabra243067.7456.8770 17Helpman,-Elhanan U Harvard221767.3481.5923 18Borjas,-George-J.U Harvard265865.6448.2559 19Juselius,-Katarina U Copenhagen88656181183 20Vishny,-Robert-W.U Chicago271164.7444.51108 21Milgrom,-Paul U Stanford161361.8533.51096 22French,-Kenneth-R.MIT282260.9418.5840 23Rebelo,-Sergio Northwestern U142760.5548.3802 24Viscusi,-W.-Kip U Harvard253959.5453650 25Murphy,-Kevin-M.U Chicago19658.5493.31189 26Moffitt,-Robert-A.Johns Hopkins U236058.2468.8555 27Rodrik,-Dani U Harvard457757.9359496 28Card,-David U CA Berkeley203757.5490.8701 29Campbell,-John-Y.U Harvard324157.3396.3646 30Lucas,-Robert-E., Jr.U Chicago186257.2516542 31Quah,-Danny-T.London school of Econ3010057.1406419 32Stock,-James-H.U Harvard291856.6416.8918 33Bollerslev,-Tim Duke U362156.1386.7853 34Nelson,-Daniel-B.U Chicago154855.4545.7611 35Rabin,-Matthew U CA Berkeley8720954.7268.8304 36Rajan,-Raghuram-G.U Chicago557554.5324.7514 37Bound,-John U MI Ann Arbor351954394.2879 38Taylor,-Mark-P.U Warwick505953.6344.3558 39Alesina,-Alberto U Harvard342653.5395.3810 40Young,-Alwyn U Chicago4714752.3354354 41Fearon,-James-D.U Stanford7719252.3286.5312 42Katz,-Lawrence-F.U Harvard402951.9369.5771 43Berger,-Allen-N.Federal Reserve System563651.7323.3712 44Moravcsik,-Andrew U Harvard5918450.9313.8317 45Chib,-Siddhartha Washington U, MO587950.9318.2487 46Harvey,-Campbell-R.Duke U465750.9357.8567 47Obstfeld,-Maurice U CA Berkeley628950.8312452 48Jones,-Charles-I.U Stanford10819450.7244311 49Aghion,-Philippe U College London533250.3335.9751 50Shavell,-Steven U Harvard7310350292.5415 51Rogoff,-kenneth U Harvard6511849.6307.5389 52Stein,-Jeremy-C.MIT574049.2322.7648 53Perron,-Pierre Boston U436648.9361.8531 54Holmstrom,-Bengt MIT684548.4303.3624 55Sunstein,-Cass-R.U Chicago13527347.4218.3259 56Grossman,-Gene-M.Princeton U443347.2359.2726 57Camerer,-Colin-F.CA Institute of Technology1199947.1234.3421 58Sen,-Amartya U Cambridge10528047253253 59Ravallion,-Martin World Bank919146.5266448 60Poterba,-James-M.MIT607446.3313515 61Caballero,-Ricardo-J.MIT335446.1396.2582 62Thaler,-Richard-H.U Chicago392245.8373840 63Stiglitz,-Joseph-E.U Columbia7211145.5294.3402 64Edwards,-Sebastian UCLA7914045.3286.3359 65Griliches,-Zvi U Harvard417144.6366521 66Nickell,-S.London school of Econ9511344.2261.3397 67Feldstein,-Martin U Harvard15433144205230 68Tversky,-Amos U Stanford372443.5384.3823 69Pesaran,-M.-Hashem U Cambridge1047643.5253.2506 70Mankiw,-N.-Gregory U Harvard382043.3380.8862 71Engle,-Robert-F.U CA San Diego613543.2312.2715 72Kaplow,-Louis U Harvard8514743.2273.5354 73Cochrane,-John-H.Federal Reserve Bank of Chicago6717942.9304.5321 74King,-Robert-G.U VA482842.5347.6800 75Garrett,-Geoffrey U Yale10216742.3253.7332 76Laffont,-Jean-Jacques U Toulouse I948041.8262.8486 77Diebold,-Francis-X.NYU835141.2277594 78Osterman,-Paul MIT14637841.1212.5215 79Nordhaus,-William-D.U Yale499841346422 80Angrist,-Joshua-D.MIT978640.7260.2463 81Jensen,-Michael-C.U Harvard426139.8365.5549 82Benabou,-Roland Princeton U13031038.8221.5240 83Becker,-Gary-S.U Chicago647138.530852184Freeman,-Richard-B.U Harvard9810938.4258.7403 85Zingales,-Luigi U Chicago29430438151.2242 86Lott,-John-R., Jr.U Yale8610838272405 87Scharfstein,-David-S.MIT542537.9331813 88Watson,-Mark-W.Princeton U815337.8281.8583 89Fudenberg,-Drew U Harvard754737.8291.8615 90Romer,-David-H.U CA Berkeley804437.7283632 91Osterwald-Lenum,-Michael U Copenhagen5115837.6338338 92Pindyck,-Robert-S.MIT5214137.5337.5358 93Machin,-Stephen U College London1268537.2228.2464 94Summers, department of the Treasury654637.1307.5621 95Neumark,-David MI State U1248737230.2462 96Eichenbaum,-Martin Federal Reserve Bank of Chicago825236.9278.7585 97Glaeser,-Edward-L.U Harvard32815636.7141.8341 98Christiano,-Lawrence-J.Northwestern U716736.3295.2530 99Audretsch,-David-B.IN U, Bloomington17515436.1195.5343 100Bernanke,-Ben-S.Princeton U1038236.1253.3479 101Ritter,-Jay-R.U FL12214735.9232.2354 102Maskin,-Eric-S.U Harvard19913735.9184.3362 103Moore,-John London school of Econ1208135.8233.7480 104Weil,-David-N.Brown U1346435.8219536 105Hart,-Oliver U Harvard997135.8258521 106Lakonishok,-Josef U IL Urbana Champaign883435.6268.8724 107Venables,-Anthony-J.London school of Econ20727435.5180.3258 108Frey,-Bruno-S.U Zurich14418735.4214.7315 109Massey,-Douglas-S.U PA13710435.4217.3413 110Easterly,-William World Bank17412435.2196.6381 111Ellison,-Glenn MIT18226235193263 112Dixit,-Avinash Princeton U9320434.8263.2305 113Gruber,-Jonathan MIT19123134.7188.7290 114Hanemann,-W.-Michael U CA Berkeley7713234.7286.5375 115Galor,-Oded Brown U18817634.6190325 116Besley,-Timothy London school of Econ13211234.5221400 117Bovenberg,-A.-Lans U Tilburg21216234.2178.2335 118Blau,-Francine-D.Cornell U21818334175.2318 119Gali,-Jordi U Pompeu Fabra16032133.9201.7236 120Rose,-Andrew-K.U CA Berkeley18414133.9192.7358 121Keane,-Michael-P.NYU13917233.8216.8329 122Tabellini,-Guido U Bocconi926933.6263.7525 123Breslow,-N.-E.U WA737733.5292.5496 124Cheung,-Yin-Wong U CA Santa Cruz13612033.4217.6387 125Williamson,-Oliver-E.U CA Berkeley12533533.1229229 126Newhouse,-Joseph-P.U Harvard133********.3251 127Lo,-Andrew-W.MIT1009433254.5431 128Bekaert,-Geert U Stanford21722732.9175.3293 129Granger,-Clive-W.-J.U CA San Diego16313232.9200.5375 130Weitzman,-Martin-L.U Harvard15628832.7204.5250 131Acemoglu,-Daron MIT52068432.5108.5153 132Duffie,-Darrell U Stanford20213232.4183.4375 133Gertler,-Mark NYU15911332.2203.3397 134Rosenzweig,-Mark-R.U PA1288432.2223.7469 135Ruhm,-Christopher-J.U NC Greensboro15338932.1205.2212 136Hubbard,-R.-Glenn Columbia U23416731.9168.8332 137Roth,-Alvin-E.U Harvard17210631.9197.3407 138Hamilton,-James-D.U CA San Diego10717431.9250326 139Heston,-Alan U PA634931.9308.5610 140Knetsch,-Jack-L.Simon Fraser U CN703831.8298.3652 141Smith,-Bruce-D.U TX Austin19612831.8185.2377 142Benhabib,-Jess NYU1419031.8215.7450 143Stulz,-Rene-M.OH State U1139231.6240447 144Schwert,-G.-William U Rochester8412431.6274381 145Kaplan,-Steven-N.U Chicago14017631.5216.5325 146Murphy,-Kevin-J.U Southern CA765531.5287577 147Markusen,-James-R.U CO Boulder20625431.2181268 148Diamond,-Peter-A.MIT16617331.1198.8328 149Baillie,-Richard-T.MI State U15511831.1204.8389 150Madhavan,-Ananth U Southern CA19018131.1188.8319 151Mishkin,-Frederic-S.Columbia U16932631198233 152Gottschalk,-Peter Boston College30735331147.2223 153Summers,-Robert U PA695030.9301.5603 154Young,-H.-Peyton Johns Hopkins U12731030.8225.5240 155Manski,-Charles-F.Northwestern U16127830.7201.3255 156Schwartz,-Alan U Yale21445530.6177.7195 157Samuelson,-Larry U WI Madison14510030.6214.2419 158Newey,-Whitney-K.MIT10114330.6254.3357 159Frankel,-Jeffrey-A.U Harvard26522230.5160.7296 160Andreoni,-James U WI Madison10924730.3243.8273 161Holzer,-Harry-J.MI State U13023730.3221.5282 162Roberts,-John U Stanford896330.3268.7540 163Rudebusch,-Glenn-D.Federal Reserve Bank of San 14717630.3211.5325 164Weingast,-Barry-R.U Stanford24638330.2165.8214 165Deaton,-Angus Princeton U13821930.2217298 166Blinder,-Alan-S.Princeton U11411730.2237.5390167Pritchett,-Lant World Bank27045530.2159.7195 168Lerner,-Josh U Harvard35561430135.5163 169Topel,-Robert-H.U Chicago11018929.9243.7314 170Ostrom,-Elinor IN U, Bloomington41641729.8122.7205 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NYU862120216.479.2106 509Barrett,-Scott Johns Hopkins U446102516.4118118 510Wang,-Jiang MIT54374516.4105.5146 511Squire,-Lyn World Bank88469516.478.5152 512Hommes,-Cars-H.U Amsterdam862100116.479.2120 513Fujita,-Masahisa Kyoto U64648016.395.5190 514Scott,-Linda-M.U IL Urbana Champaign38491616.3128128 515Brennan,-Michael-J.London Business School50842316.3110.2204 516Stewart,-Mark-B.U Warwick36248516.3133.5189 517Mookherjee,-Dilip Boston U46129316.3116.5248 518Iannaccone,-Laurence-R.Santa Clara U, CA49398916.3113121 519Burnside,-Craig World Bank76872916.285.7148 520Kanninen,-Barbara-J.U MN Twin Cities43544516.2119.3198 521Harvey,-Andrew U Cambridge54333516.2105.5229 522Kortum,-Samuel Boston U980138716.273.796 523Hirschman,-Elizabeth-C.Rutgers U NJ35276916.2136.5143 524Levine,-David-K.UCLA56241116.2103.7206 525Juhn,-Chinhui U Houston49629116.2112.2249 526Carson,-Richard-T.U CA San Diego64337116.195.8217 527Manuelli,-Rodolfo-E.U WI Madison32420916.1143304 528Psacharopoulos,-George World Bank575110616.1102.3112 529Moschini,-Giancarlo IA State U58953716.1101.2176 530Bates,-David-S.U IA717150416.19090 531Harrison,-Ann-E.Columbia U82194716.182125 532Boot,-Arnoud-W.-A.U Amsterdam55840616.1104207 533Segerstrom,-Paul-S.Stockholm School of Econ6737381693.3147 534Wolpin,-Kenneth-I.U PA51042316109.5204 535Korenman,-Sanders CUNY Baruch College34923916137.2281 536Rauch,-James-E.U CA San Diego551120216105106 537Waite,-Linda-J.U Chicago57767015.9102.2155 538Shephard,-Neil U Oxford81868415.982.3153 539Katz,-Jonathan-N.U Chicago70951615.990.5181 540Varian,-Hal-R.U CA Berkeley32262315.9143.2162 541Finnemore,-Martha George Washington U, DC744148315.987.591 542Mester,-Loretta-J.Federal Reserve Bank of Philadelphia691100115.891.5120 543Shin,-Hyun-Song U Oxford61195815.899.3124 544Chavas,-Jean-Paul U WI Madison44936015.8117.3221 545Markusen,-Ann U MN Twin Cities779103915.784.8117 546Koop,-Gary U Edinburgh72256415.789.5170 547Goulder,-Lawrence-H.U Stanford92382615.776.5137 548McConnell,-Kenneth-E.U MD College Park51284415.7109.3135 549Feldman,-Maryann-P.Johns Hopkins U76857815.785.7168 550Basu,-Kaushik Cornell U73489515.688.2130 551Putterman,-Louis Brown U58971315.6101.2150 552Roe,-Mark-J.Columbia U34157015.6138169 553McMillen,-Daniel-P.U IL Chicago48949315.6113.3186 554Michaely,-Roni U Tel Aviv95972915.674.5148 555Harris,-Richard-I.-D.U Portsmouth, UK54385115.6105.5134 556Hirsch,-Barry-T.Trinity U, San Antonio, TX47741115.6114.7206 557Canova,-Fabio U Pompeu Fabra66381515.694.5138 558Hanushek,-Eric-A.U Stanford51065215.5109.5158 559Fernandez,-Raquel NYU48033915.5114.5228 560Brock,-William-A.U WI Madison69142315.591.5204 561Currie,-Janet UCLA74455615.587.5171 562Barclay,-Michael-J.U Rochester65343415.595.1201 563Cukierman,-Alex U Tilburg44125615.5118.8267 564Kohn,-Robert U New S Wales66964015.593.7160 565Guth,-Werner Humboldt U Berlin59657815.5100.5168 566O'Hara,-Maureen Cornell U99255615.573.3171 567Kirman,-Alan EHESS41186015.5123.8133 568Weisbrod,-Burton-A.Northwestern U46598915.5116121 569Lehrer,-Ehud U Tel Aviv45945515.4116.7195 570Caves,-Richard-E.U Harvard78588015.484.2131 571Solow,-Robert-M.MIT631136915.39797 572Mahoney,-Martha-R.U Miami, FL28668415.3153153 573Myerson,-Roger-B.Northwestern U813118715.382.5107 574Blau,-David-M.U NC Chapel Hill68086015.392.7133 575McCulloch,-Robert-E.U Chicago49931515.2111.8239 576Jones,-Larry-E.Federal Reserve Bank of Minneapolis40123515.2125.8283 577Segal,-Uzi U Western Ontario33036015.2141221 578van-der-Ploeg,-Frederick U Amsterdam52448915.2108188 579Hall,-Alastair-R.NC State U45157815.2117.2168 580Skaperdas,-Stergios U CA Irvine59698915.2100.5121 581Berry,-Steven-T.U Yale52461415.2108163。
2008年考研英语真题阅读出处有两篇来自The Economist,且都是科技版块的文章一是完形填空,出处Jun 2nd 2005的文章题目为:The evolution of intelligence Natural genius?链接为:/science/PrinterFriendly.cfm?story_id=4032638二是阅读理解第二篇,出处Sep 22nd 2005 题目为:Scientific publishing The paperless librar y. 链接为: /science ... fm?story_id=4423646注:[以上两篇为收费阅读文章]第一篇阅读理解,出处Gender Inequality: Women Under Stress,链接为/centers/stress/articles/strainofstress/gender.html第三篇阅读理解,出处Scientific American 的Napoleon's Revenge,链接为/article.cfm?chanID=sa006&colID=5&articleID=000F2759-D3C8-1C6F-84A9809EC588EF21第四篇阅读理解,出处U.S. News 的The sorry legacy of the founders 链接为/usnews/culture/articles/040112/12slave.htm翻译题来自:/charles-darwin.html2007年考研英语真题阅读出处Part A第一篇文章来自The New York Timeshttp://2006/05/07/magazine/07wwln_freak.html%3fex=1304654400&en=2cf57fe91bdd490f&ei=5090&partner=rssuserland&emc=rssPart A第二篇文章来自Scientific American;http://www.psych.utoronto.ca/~reingold/courses/intelligence/cache/1198yam.htmlPart A第三篇文章来自Harvard Magazine/on-line/010682.htmlPart A第四篇文章来自The Economist/printedition/PrinterFriendly.cfm?Story_ID=4112390PartB文章来自Times/time/magazine/article/0,9171,1018077-1,00.html2006年考研英语真题阅读出处Part A第二篇文章来自The Observer《观察家报》题目为:Inside Meaning. Michael Swan. Part A第三篇文章来自The Economist (2003年5月15日)题目为:Ocean’s eleventh hour?Part A第四篇文章来自Time (2005年1月17日) 题目为:The Art of Unhappiness2005年考研英语真题阅读出处Part A第一篇文章来自The Economist (2003年9月20日) 题目为:Fair and squarePart A第二篇文章来自U.S. News and Report (2001年6月25日) 题目为:Warming to thetaskPart A第三篇文章来自Newsweek (2002年7月15日) 题目为:Taking ControlPart A第四篇文章来自The Economist(2004年1月31日)题目为:Talking down2004年考研英语真题阅读出处Part A第一篇文章来自U.S. News and Report (1997年10月27日)题目为:Putting the Net to WorkPart A第二篇文章来自The Economist (2001年9月1日) 题目为:As easy as ZYX Part A第三篇文章来自Business (2002年7月15日) 题目为:What’s a Shopper to Do?Part A第四篇文章来自ASBJ(2001年1月美国学校董事会杂志)题目为:Nurturing the Life of the Mind.2003年考研英语真题阅读出处Part A第一篇文章来自Times (1999年1月25日) 题目为:Spies Like UsPart A第二篇文章来自Science (1998年11月20日)题目为:Animal Rights: Reaching the PublicPart A第四篇文章来自Newsweek (2001年8月27日)题目为:The Best Health Care Goes Only So Far2002年考研英语真题阅读出处Part A第三篇文章来自The Economist (1999年11月27日) 题目为:Oil’s pleasant surprise 由上可知,考研阅读文章的来源:Economist、Newsweek和Time等是比较重要的杂志,题材偏重的文章的内容涉及社会科学、自然科学和人文科目各个领域的知识,其中社会科学所占比重较大,自然科学所占比重不大,人文科学近来有增加的趋势。
Digest Of The. Economist. 2006(4-5)Hot to trotA new service hopes to do for texting what Skype did for voice callsTALK is cheap—particularly since the appearance of voice-over-internet services such as Skype. Such services, which make possible very cheap (or even free) calls by routing part or all of each call over the internet, have forced traditional telecoms firms to cut their prices. And now the same thing could be about to happen to mobilephone text messages, following the launch this week of Hotxt, a British start-up.Users download the Hotxt software to their handsets, just as they would a game or a ringtone. They choose a user name, and can then exchange as many messages as they like with other Hotxt users for £1 ($1.75) per week. The messages are sent as data packets across the internet, rather than being routed through operators' textmessaging infrastructure. As a result, users pay only a tiny data-transport charge, typically of a penny or so per message. Since text messages typically cost 10p, this is a big saving—particularly for the cost-conscious teenagers at whom the service is aimed.Most teenagers in Britain, and elsewhere in Europe, pay for their mobile phones on a “pre-paid” basis, rather than having a monthly contract with a regular bill. Pre-paid tariffs are far more expensive: bundles of free texts and other special deals, which can reduce the cost of text messaging, are generally not available. For a teenager who sends seven messages a day, Hotxt can cut the cost of texting by 75%, saving £210 per year, says Doug Richard, the firm's co-founder. For really intensive text-messagers, the savings could be even bigger: Josh Dhaliwal of mobileYouth, a market-research firm, says that some teenagers—chiefly boys aged 15-16 and girls aged 14-15—are “supertexters” who send as many as 50 messages per day.While this sounds like good news for users, it could prove painful for mobile operators. Text-messaging accounts for around 20% of a typical operator's revenues. With margins on text messages in excess of 90%, texting also accounts for nearly half of an operator's profits. Mr Richard is confident that there is no legal way that operators can block his service; they could raisedata-transport costs, but that would undermine their own efforts to push new services. Hotxt plans to launch in other countries soon.“The challenge is getting that initial momentum,” says Mr Dhaliwal. Hotxt needs to persuade people to sign up, so that they will persuade their friends to sign up, and so on. Unlike Skype, Hotxt is not free, so users may be less inclined to give it a try. But as Skype has also shown, once a disruptive, low-cost communications service starts to spread, it can quickly become very big indeed. And that in turn can lead to lower prices, not just for its users, but for everyone.A discerning viewA new way of processing X-rays gives much clearer imagesX-RAYS are the mysterious phenomenon for which Wilhelm Röntgen was awarded the first Nobel prize in physics, in 1901. Since then, they have shed their mystery and found widespread use in medicine and industry, where they are used to revealthe inner properties of solid bodies.Some properties, however, are more easily discerned than others. Conventional Xray imaging relies on the fact that different materials absorb the radiation to different degrees. In a medical context, for example, bones absorb X-rays readily, and so show up white on an X-radiograph, which is a photographic negative. But Xrays are less good at discriminating between different forms of soft tissue, such as muscles, tendons, fat and blood vessels. That, however, could soon change. For Franz Pfeiffer of the Paul Scherrer Institute in Villigen, Switzerland, and his colleagues report, in the April edition of Nature Physics, that they have manipulated standard X-ray imaging techniques to show many more details of the inner body.The trick needed to discern this fine detail, according to Dr Pfeiffer, is a simple one. The researchers took advantage not only of how tissues absorb X-rays but also of how much they slow their passage. This slowing can be seen as changes in the phase of the radiation that emerges—in other words of the relative positions of the peaks and troughs of the waves of which X-rays are composed.Subtle changes in phase are easily picked up, so doctors can detect even small variations in the composition of the tissue under investigation, such as might be caused by the early stages of breast cancer. Indeed, this trick—known as phase-contrast imaging—is already used routinely in optical microscopy and transmission electron microscopy. Until now, however, no one had thought to use it for medical X-radiography.To perform their trick, the researchers used a series of three devices called transmission gratings. They placed one between the source of the X-rays and the body under examination, and two between the body and the X-ray detector that forms the image. The first grating gathers information on the phases of the X-rays passing through it. The second and third work together to produce thedetailed phase-contrasted image. The approach generates two separate images—the classic X-ray image and the phase-contrasted image—which can then be combined to produce a high-resolution picture.The researchers tested their technique on a Cardinal tetra, a tiny iridescent fish commonly found in fish tanks and aquariums. The conventional X-ray image showed the bones and the gut of the fish, while the phase-contrasted image showed details of the fins, the ear and the eye.Dr Pfeiffer's technique would thus appear to offer a way to get much greater detail for the same amount of radiation exposure. Moreover, since it uses standard hospital equipment, it should be easy to introduce into medical practice. X-rays may no longer be the stuff of Nobel prizes, but their usefulness may just have increased significantly.Here be dragonsWith luck, you may soon be able to buy a mythological petPAOLO FRIL, chairman and chief scientific officer of GeneDupe, based in San Melito, California, is a man with a dream. That dream is a dragon in every home.GeneDupe's business is biotech pets. Not for Dr Fril, though, the mundane cloning of dead moggies and pooches. He plans a range of entirely new animals—or, rather, of really quite old animals, with the twist that even when they did exist, it was only in the imagination.Making a mythical creature real is not easy. But GeneDupe's team of biologists and computer scientists reckon they are equal to the task. Their secret is a new field, which they call “virtual cell biology”.Biology and computing have a lot in common, since both are about processing information—in one case electronic; in the other, biochemical. Virtual cell biology aspires to make a software model of a cell that is accurate in every biochemical detail. That is possible because all animal cells use the same parts list—mitochondria for energy processing, the endoplasmic reticulum for making proteins, Golgi body for protein assembly, and so on.Armed with their virtual cell, GeneDupe's scientists can customise the result so that it belongs to a particular species, by loading it with a virtual copy of that animal's genome. Then, if the cell is also loaded with the right virtual molecules, it will behave like a fertilised egg, and start dividing and developing—first into an embryo, and ultimately into an adult.Because this “growth” is going on in a computer, it happens fast. Passing from egg to adult in one of GeneDupe's enormous Mythmaker computers takes less than a minute. And it is here that Charles Darwin gets a look in. With such a short generation time, GeneDupe's scientists can add a little evolution to their products.Each computer starts with a search image (dragon, unicorn, gryphon, etc), and the genome of the real animal most closely resembling it (a lizard for the dragon, a horse for the unicorn and, most taxingly, the spliced genomes of a lion and an eagle for the gryphon). The virtual genomes of these real animals are then tweaked by random electronic mutations. When they have matured, the virtual adults most closely resembling the targets are picked and cross-bred, while the others are culled.Using this rapid evolutionary process, GeneDupe's scientists have arrived at genomes for a range of mythological creatures—in a computer, at least. The next stage, on which they are just embarking, is to do it for real.This involves synthesising, with actual DNA, the genetic material that the computer models predict will produce the mythical creatures. The synthetic DNA is then inserted into a cell that has had its natural nucleus removed. The result, Dr Fril and his commercial backers hope, will be a real live dragon, unicorn or what have you.Tales of the unexpectedWhy a drug trial went so badly wrongIN ANY sort of test, not least a drugs trial, one should expect the unexpected. Even so, on March 13th, six volunteers taking part in a small clinical trial of a treatment known as TGN1412 got far more than they bargained for. All ended up seriously ill, with multiple organ failure, soon after being injected with the drug at a special testing unit at Northwick Park Hospital in London, run by a company called Parexel. One man remains ill in hospital.Small, preliminary trials of this sort are intended to find out whether a drug is toxic. Nevertheless, the mishap was so serious that Britain's Medicines and Healthcare products Regulatory Agency (MHRA), a government body, swiftly launched a full inquiry. On April 5th it announced its preliminary findings. These were that the trial was run correctly, doses of the drug were given as they were supposed to have been, and there was no contamination during manufacturing. In other words, it seems that despite extensive tests on animals and human-cell cultures, and despite the fact that the doses in the human trial were only a five-hundredth of those given to the animals, TGN1412 is toxic in people in a way that simply had not shown up.This is a difficult result for the drug business because it raises questions about the right way of testing medicines of this kind. TGN1412 is unusual in that it is an antibody. Most drugs are what are known as “small molecules”. Antibodies are big, powerful proteins that are the workhorses of the immune system. A mere 20 of them have been approved for human therapy, or are in latestage clinical trails, in America and Europe, but hundreds are in pre-clinical development, and will soon need to be tried out on people.Most antibody drugs are designed to work in one of three ways: by recruiting parts of the immune system to kill cancer cells; by delivering a small-molecule drug or a radioactive atom specifically to a cancer; or by blocking unwanted immune responses. In that sense, TGN1412 was unusual because it worked in a fourth way. It is what is called a “superagonistic” antibody, designed to increase the numbers of a type of immune cell known as regulatory T-cells.Reduced numbers, or impaired function, of regulatory T-cells has been implicated in a number of illnesses, such as type 1 diabetes, multiple sclerosis and rheumatoid arthritis. Boosting the pool of these antibodies seemed like a good treatment strategy. Unfortunately, that strategy fell disastrously to pieces and it will take a little longer to find out why.The result highlights concerns raised in a paper just published by the Academy of Medical Sciences, a group of experts based in London. It says there are special risks associated with novel antibody therapies. For example, their chemical specificity means that they might not bind to their targets in humans as they do in other species.Accidence and substanceTwo possible explanations for the bulk of realityTHE unknown pervades the universe. That which people can see, with the aid of various sorts of telescope, accounts for just 4% of the total mass. The rest, however, must exist. Without it, galaxies would not survive and the universe would not be gently expanding, as witnessed by astronomers. What exactly constitutes this dark matter and dark energy remains mysterious, but physicists have recently uncovered some more clues, about the former, at least.One possible explanation for dark matter is a group of subatomic particles called neutrinos. These objects are so difficult to catch that a screen made of lead a light-year thick would stop only half the neutrinos beamed at it from getting through. Yet neutrinos are thought to be the most abundant particles in the universe. Some ten thousand trillion trillion—most of them produced by nuclear reactions in the sun—reach Earth every second. All but a handful pass straight through the planet as if it wasn't there.According to the Standard Model, the most successful description of particle physics to date, neutrinos come in three varieties, called “flavours”. These are known as electron neutrinos, tau neutrinos and muon neutrinos. Again, according to the Standard Model, they are point-like, electrically neutral and massless. But in recent years, this view has been challenged, as physicists realised that neutrinos might have mass.The first strong evidence came in 1998, when researchers at an experiment called SuperKamiokande, based at Kamioka, in Japan, showed that muon neutrinos produced by cosmic rays hitting the upper atmosphere had gone missing by the time they should have reached an underground detector. SuperKamiokande's operators suspect that the missing muon neutrinos had changed flavour, becoming electron neutrinos or—more likely—tau neutrinos. Theory suggests that this process, called oscillation, can happen only if neutrinos have mass.Since then, there have been other reports of oscillation. Results from the Sudbury Neutrino Observatory in Canada suggest that electron neutrinos produced by nuclear reactions in the sun change into either muon or tau neutrinos on their journey to Earth. Two other Japanese experiments, one conducted at Kamioka and one involving the KEK particle-accelerator laboratory in Tsukuba, near Tokyo, also hint at oscillation.Last week, researchers working on the MINOS experiment at Fermilab, near Chicago, confirmed these results. Over the coming months and years, they hope to produce the most accurate measurements yet. The researchers created a beam of muon neutrinos by firing an intense stream of protons into a block of carbon. On the other side of the target sat a particle detector that monitored the number of muon neutrinos leaving the Fermilab site. The neutrinos then traveled 750km (450 miles) through the Earth to a detector in a former iron mine in Soudan, Minnesota.Myths and migrationDo immigrants really hurt American workers' wages?EVERY now and again America, a nation largely made up of immigrants and their descendants, is gripped by a furious political row over whether and how it should stem the flood of people wanting to enter the country. It is in the midst of just such a quarrel now. Congress is contemplating the erection of a wall along stretches of the Mexican border and a crackdown on illegalworkers, as well as softer policies such as a guest-worker programme for illegal immigrants. Some of the arguments are plain silly. Immigration's defenders claim that foreigners come to do jobs that Americans won't—as if cities with few immigrants had no gardeners. Its opponents say that immigrants steal American jobs—succumbing to the fallacy that there are only a fixed number of jobs to go around.One common argument, though not silly, is often overstated: that immigration pushes down American workers' wages, especially among high-school dropouts. It isn't hard to see why this might be. Over the past 25 years American incomes have become less equally distributed, typical wages have grown surprisingly slowly for such a healthy economy and the real wages of the least skilled have actually fallen. It is plausible that immigration is at least partly to blame, especially because recent arrivals have disproportionately poor skills. In the 2000 census immigrants made up 13% of America's pool of workers, but 28% of those without a high-school education and over half of those with eight years' schooling or less.In fact, the relationship between immigration and wages is not clear-cut, even in theory. That is because wages depend on the supply of capital as well as labour. Alone, an influx of immigrants raises the supply of workers and hence reduces wages. But cheaper labour increases the potential return to employers of building new factories or opening new valet-parking companies. In so doing, they create extra demand for workers. Once capital has fully adjusted, the final impact on overall wages should be a wash, as long as the immigrants have not changed the productivity of the workforce as a whole.However, even if wages do not change on average, immigration can still shift the relative pay of workers of different types. A large inflow of low-skilled people could push down the relative wages of low-skilled natives, assuming that they compete for the same jobs. On the other hand, if the immigrants had complementary skills, natives would be relatively better off. To gauge the full effect of immigration on wages, therefore, you need to know how quickly capital adjusts and how far the newcomers are substitutes for local workers.Roaming holidayThe EU hopes to slash the price of cross-border mobile calls“TODAY it is only when using your mobile phone abroad that you realise there are still borders in Europe,” lamented Viviane Reding, the European commissioner responsible for telecoms and media regulation, as she announced plans to slash the cost of mobile roaming last month. It is a laudable aim: European consumers typically pay €1.25 ($1.50) per minute to call home from another European country, and €1 per minute to receive calls from home while abroad. With roaming margins above 90%, European mobile operators make profits of around €10 billion a year from the trade, the commission estimates.Ms Reding's plan, unveiled on March 28th and up for discussion until May 12th, is to impose a “home pricing” scheme. Even while roaming, callers would be charged whatever they would normally pay to use their phones in their home countries; charges for incoming calls while roaming would be abolished. That may sound good. But, as the industry is understandably at pains to point out, it could have some curious knock-on effects.In particular, consumers could sign up with operators in foreign countries to take advantage of lower prices. Everyone would take out subscriptions to the cheapest supplier and bring them back home, says John Tysoe of the Mobile World, a consultancy. “You'd end up with a complete muddle. An operator might have a network, bu t no customers, because they've all migrated.”Another problem with Ms Reding's plan, he says, is that operators would compensate for the loss of roaming fees— thought to account for around 3% of their revenues and 5% of profits—by raising prices elsewhere. This would have the perverse effect of lowering prices for international business travellers, a big chunk of roaming traffic, while raising prices for most consumers.The commission's proposals are “economically incoherent”, says Richard Feasey of Vodafo ne, which operates mobile networks in many European countries. Imposing price caps on roaming is legally questionable, he says, and Vodafone has, in any case, been steadily reducing its roaming charges. (European regulators prevented it from doing so for three years on antitrust grounds after its takeover of Mannesmann in 2000.) Orange, another multinational operator, says it is planning to make price cuts, too. “Of course, now everybody's got price cuts,” says Stefano Nicoletti of Ovum, a consultancy.But perhaps Ms Reding's unspoken plan is to use the threat of regulation as a way to prompt action. Operators are right that her proposals make no sense, but they are charging too much all the same. So expect them to lobby hard against the proposals over the next couple of years, while quietly cutting their prices—an outcome that would, of course, allow both sides to claim victory.Devices and their desiresEngineers and chemists get togetherTHERE used to be a world of difference between treating a patient with a device—such as a fake hip or a pacemaker—and using biology and biochemistry. Different ailments required wholly different treatments, often with little in common. But that is changing as medical advances—such as those being trumpeted at the biotechnology industry's annual gathering this week in Chicago—foster combinations of surgical implants and other hardware with support from medicines. Drug-releasing stents were one of the first fruits of this trend, which increasingly requires vastly different sorts of health-care firms to mesh their research efforts.That will be a challenge. While pharmaceutical and biotech firms are always in search of the next big thing, devicemakers prefer gradual progress. Instead of hanging out with breathless entrepreneurs near America's east and west coasts, where most drug and biotechnology firms are based, many of the device-makers huddle in midwestern cities such as Minneapolis, Indianapolis and Kalamazoo. And unlike Big Pharma, which uses marketing blitzes to tell ailing consumers about its new drugs, medical-device sales teams act more as instructors, showing doctors how to install their latest creations.Several companies, however, are now trying to bring these two business cultures together. Earlier this year, for example, Angiotech Pharmaceuticals, a Canadian firm, bought American Medical Instruments (AMI). Angiotech's managers reckon their company has devised a good way to apply drug coatings to all sorts of medical paraphernalia, from sutures and syringes to catheters, in order to reduce the shock to the body. AMI makes just the sorts of medical supplies to which Angiotech hopes to apply its techniques.One of America's biggest makers of medical devices, Medtronic, has been doing joint research with Genzyme, a biotechnology company that is also keen on broader approaches to health care. Genzyme says that it was looking for better ways to treat ailments, such as coronary and kidney disease, and realised that it needed to understand better how electro-mechanical devices and information technology work. But combining its efforts with those of Medtronic “on a cultural level is very hard”, the company says. Biotechnology firms are used to much more risky projects and far longer development cycles.Another difference is that device-makers know that if a problem emerges with their hardware, the engineers will tinker around and try to resolve the glitch. Biotech and pharmaceutical firms have no such option. If a difficulty emerges after years of developing and testing a new pill, as with Merck's Vioxx, there may be little they can do about it. “You can't futz with a molecule”, says Debbie Wang, a health-care industry analyst.Strangely, says Ms Wang, some of the most promising engineering outfits were once divisions of pharmaceutical andhealth-care companies, which got rid of them precisely because they did not appear to offer the rapid growth that managers saw in prescription drugs. Guidant, a maker of various cardiovascular devices, was spun off by Eli Lilly in 1994 and a decade later became the prize in a bidding war between Johnson & Johnson and Boston Scientific, which Boston won earlier this year.Pfizer sold Howmedica, which makes joint replacements and prosthetics, to Kalamazoo-based Stryker in 1998. Anotherjoint-replacement maker, Zimmer, was spun off from Bristol-Myers Squibb in 2001. Now both those companies are looking for ways to add “anti-interactive coatings”—ie, drugs—to their business. One of the most troublesome complications in joint replacement is infection.The big drug companies might be tempted to reacquire the firms that they let go. But, given the potential for cultural and strategic clashes, it may make more sense for a few big and broad medical-device makers, such as Medtronic, Boston Scientific and St Jude Medical, to continue consolidating their own industry while co-operating, along the lines of the Medtronic-Genzyme venture, with biotech and pharmaceutical firms as they see fit. There would still be irritation; but probably less risk of wholesale rejection.Eat less, live moreHow to live longer—maybeDIETING, according to an old joke, may not actually make you live longer, but it sure feels that way. Nevertheless, evidence has been accumulating since the 1930s that calorie restriction—reducing an animal's energy intake below its energy expenditure—extends lifespan and delays the onset of age-related diseases in rats, dogs, fish and monkeys. Such results have inspired thousands of people to put up with constant hunger in the hope of living longer, healthier lives. They have also led to a search for drugs that mimic the effects of calorie restriction without the pain of going on an actual diet.Amid the hype, it is easy to forget that no one has until now shown that calorie restriction works in humans. That omission, however, changed this month, with the publication of the initial results of the first systematic investigation into the matter. Thisstudy, known as CALERIE (Comprehensive Assessment of Long-term Effects of Reducing Intake of Energy), was sponsored by America's National Institutes of Health. It took 48 men and women aged between 25 and 50 and assigned them randomly to either a control group or a calorie-restriction regime. Those in the second group were required to cut their calorie intake for six months to 75% of that needed to maintain their weight.The CALERIE study is a landmark in the history of the field, because its subjects were either of normal weight or only slightly overweight. Previous projects have used individuals who were clinically obese, thus confusing the unquestionable benefits to health of reducing obesity with the possible advantages of calorie restriction to the otherwise healthy.At a molecular level, CALERIE suggests these advantages are real. For example, those on restricted diets had lower insulin resistance (high resistance is a risk factor for type 2 diabetes) and lower levels of low-density lipoprotein cholesterol (high levels are a risk factor for heart disease). They showed drops in body temperature and blood-insulin levels—both phenomena that have been seen in long-lived, calorie-restricted animals. They also suffered less oxidative damage to their DNA.Eric Ravussin, of Louisiana State University in Baton Rouge, who is one of the study's authors, says that such results provide support for the theory that calorie restriction produces a metabolic adaptation over and above that which would be expected from weight loss alone. (He also points out that it will be a long time before such work reveals whether calorie restriction actually extends life.) Nevertheless, such metabolic adaptation could be the reason why calorie restriction is associated with longer lifespans in other animals—and that is certainly the hope of those who, for the past 15 years, have been searching for ways of triggering that metabolic adaptation by means other than semi-starvation.The search for a drug that will stave off old age is itself as old as the hills—as is the wishful thinking of the suckers who finance such efforts. Those who hope to find it by mimicking the effect of calorie restriction are not, however, complete snake-oil salesmen, for there is known to be a family of enzymes called sirtuins, which act both as sensors of nutrient availability and as regulators of metabolic rate. These might provide the necessary biochemical link between starving and living longer.Universal service?Proponents of “software as a service” say it will wipe out traditional softwareSOMETHING momentous is happening in the software business. Bill Gates of Mi crosoft calls it “the next sea change”. Analysts call it a “tectonic shift” in the industry. Trade publications hail it as “the next big thing”. It is software-as-a-service (SaaS)—the delivery of software as an internet-based service via a web browser, rather than as a product that must be purchased, installed and maintained. The appeal is obvious: SaaS is quicker, easier and cheaper to deploy than traditional software, which means technology budgets can be focused on providing competitive advantage, rather than maintenance.This has prompted an outbreak of iconoclasm. “Traditional software is dead,” says Jason Maynard, an analyst at Credit Suisse. Just as most firms do not own generators, but buy electricity from the grid, so in future they will buy software on the hoof, he says. “It's the end of software as we know it. All software is becoming a service,” declares Marc Benioff of , thebest-known proponent of the idea. But while SaaS is growing fast, it still represents only a tiny fraction of the overall software industry—a mere $3.35 billion last year, estimates Mr Maynard. Most observers expect it to be worth around $12 billion by 2010—but even that is equal only to Microsoft's quarterly sales today. There is no denying that SaaS is coming. But there is much debate, even among its advocates, about how quickly it will grow, and how widely it will be adopted.At the moment, small and medium-sized businesses are the most enthusiastic adopters of SaaS, since it is cheaper and simpler than maintaining rooms of server computers and employing staff to keep them running. Unlike the market for desktop software, which is dominated by Microsoft, or for high-end enterprise software, which is dominated by SAP and Oracle, the middle ground is still highly f ragmented, which presents an opportunity. “This is the last great software market left—the last unconsolidated market,” says Zach Nelson of NetSuite, which provides a suite of software services including accounting, sales-force automation and customer service. His firm is targeting small and medium-sized businesses by providing “verticalised” services—that is, versions of its software adapted to particular types of company, such as professional-service firms, wholesale distributors and software firms.Large companies, says Mr Nelson, have already made big investments in traditional software. “They've already been through the pain,” he says. So they will not be in a hurry to ditch their existing investments in traditional software from the likes of SAP and Or acle. “I have no fantasy of replacing those guys,” says Mr Nelson. But Mr Benioff of disagrees. His firm provides customer-relationship management (CRM) software as a service, which is already used by many big firms including Cisco, Sprint a nd Merrill Lynch. “The world's largest companies are now using for the world's largest CRM implementations,” he says. “It's the future of our industry that everything will be a service.”Even so, Mr Maynard reckons it will be some time before large companies fully embrace the service model. However,。
Digest Of The. Economist. 2006(2-3)Moving marketsShifts in trading patterns are making technology ever more importantAN INVESTOR presses a button, sending 1,000 small “buy” orders to a stock exchange. The exchange's computer system instantly kicks in, but a split second later, 99% of the orders are cancelled. Having found the best price, the investor makes his trade discreetly, leaving no visible trace on the market—all in less time than it takes to blink. His stealth strategy remains intact.Events like this happen many times a day, as floods of orders from active hedge funds and “algorithmic” traders—who use automated programs to buy and sell—rush through the information-technology systems of the world's exchanges. The average transaction size on leading stock exchanges has fallen from about 2,000 shares in the mid-1990s to fewer than 400 today, although total trading volume has soared. But exchanges' systems have to cope with more than just a growing onslaught of “buy” and “sell” messages. Customers want to trade in more complicated ways, combining different types of assets on different exchanges at once. Then, as always, there is regulation. All this is pushing technology further to the fore.Recent embarrassments at the Tokyo Stock Exchange have illustrated what can happen when systems fail to keep up with the times. In just the past few months, the importance of technology has been plain in mergers (those of the New York Stock Exchange and Archipelago, and NASDAQ and INET); collaborations (the decision by the New York Board of Trade to use the Chicago Board of Trade's trading platform); and the creation of off-exchange trading networks (including one unveiled recently by Citigroup).Technology is hardly a new element in financial markets: the advent of electronic trading in the 1980s (first in Europe, later in America) helped to globalise financial markets and drove up trading volumes. But having slowed after the dotcom bubble it is now demanding ever more of exchanges' and intermediaries' attention. Investors can now deal more easily with exchanges or each other, bypassing traditional routes. As customers' demands and bargaining power have increased, so the exchanges have had to ramp up their own systems. “Technology created the monster that has to be ad dressed by more technology,” says Leslie Sutphen of Calyon Financial, a big futures broker.Aite Group, a research firm, reckons that in America alone the securities and investment industry spent $26.4 billion last year on IT (see chart), and may spend $30 billion in 2008. Sell-side firms spend most: J.P. Morgan Chase and Morgan Stanley each splashed out more than $2 billion in 2004, while asset-management firms such as State Street Global Advisors, Barclays Global Investors and Fidelity Investments spent between $250m and $350m apiece. With brokerage fees for trades whittled down, many have concluded that better technology is one way to cut trading costs and keep customers.Testing all enginesGlobal growth is looking less lopsided than for many yearsLARR Y SUMMERS, a Treasury secretary under Bill Clinton, once said that “the world economy is flying on one engine” to describe its excessive reliance on American demand. Now growth seems to be becoming more even at last: Europe and Japan are revving up, as are most emerging economies. As a result, if (or when) the American engine stalls, the global aeroplane will not necessarily crash.For the time being, America's monetary policymakers think that their economy is still running pretty well. This week, as Alan Greenspan handed over the chairmanship of the Federal Reserve to Ben Bernanke, the Fed marked the end of Mr Greenspan's18-year reign by raising interest rates for the 14th consecutive meeting, to 4.5%. The central bankers also gave Mr Bernanke more flexibi lity by softening their policy statement: they said that further tightening “may be needed”rather than “is likely to be needed”, as before.Most analysts expect the Fed to raise rates once or twice more, although the economy slowed sharply in late 2005. Real GDP growth fell to an annual rate of only 1.1% in the fourth quarter, the lowest for three years. Economists were quick to ascribe this disappointing number to special factors, such as Hurricane Katrina and a steep fall in car sales—the consequence of generous incentives that had encouraged buyers to bring purchases forward to the third quarter. The consensus has it that growth will bounce back to an annual rate of over 4% in the first quarter and stay strong thereafter.This sounds too optimistic. A rebound is indeed likely in this quarter, but the rest of the year could prove disappointing, as a weakening housing market starts to weigh on consumer spending. In December sales of existing homes fell markedly and the stock of unsold homes surged. Economists at Goldman Sachs calculate that, after adjusting for seasonal patterns, the median home price has fallen by almost 4% since October. Experience from Britain and Australia shows that even a soft landing for house prices can cause an acute slowdown in consumer spending.American consumers have been the main engine not just of their own economy but of the whole world's. If that engine fails, will the global economy nose-dive? A few years ago, the answer would probably have been yes. But the global economy may now be less vulnerable. At the World Economic Forum in Davos last week, Jim O'Neill, the chief economist at Goldman Sachs, argued convincingly that a slowdown in America need not lead to a significant global loss of power.Start with Japan, where industrial output jumped by an annual rate of 11% in the fourth quarter. Goldman Sachs has raised its GDP growth forecast for that quarter (the official number is due on February 17th) to an annualized 4.2%. That would pushyear-on-year growth to 3.9%, well ahead of America's 3.1%. The bank predicts average GDP growth in Japan this year of 2.7%. It thinks strong demand within Asia will partly offset an American slowdown.Japan's labour market is also strengthening. In December the ratio of vacancies to job applicants rose to its highest since 1992 (see chart 1). It is easier to find a job now than at any time since the bubble burst in the early 1990s. Stronger hiring by firms is also pushing up wages after years of decline. Workers are enjoying the biggest rise in bonuses for over a d ecade.Pass the parcelOnline shoppers give parcels firms a new lease of lifeTHINGS must be going well in the parcels business. At $2.5m for a 30-second TV commercial during last weekend's Super Bowl, an ad from FedEx was the one many Americans found the most entertaining. It showed a caveman trying to use a pterodactyl for an express delivery, only to watch it be gobbled up on take-off by a tyrannosaur. What did the world do before FedEx, the ad inquired? It might have asked what on earth FedEx did before the arrival of online retailers, which would themselves be sunk without today's fast and efficient delivery firms.Consumers and companies continue to flock in droves to the internet to buy and sell things. FedEx reported its busiest period ever last December, when it handled almost 9m packages in a single day. Online retailers also set new records in America. Excluding travel, some $82 billion was spent last year buying things over the internet, 24% more than in 2004, according to comScore Networks, which tracks consumer behaviour. Online sales of clothing, computer software, toys, and home and garden products were all up by more than 30%. And most of this stuff was either posted or delivered by parcel companies.The boom is global, especially now that more companies are outsourcing production. It is becoming increasingly common for products to be delivered direct from factory to consumer. In one evening just before Christmas, a record 225,000 international express packages were handled by UPS at a giant new air-cargo hub, opened by the American logistics firm at Cologne airport in Germany. “The internet has had a profound effect on our business,” says David Abney, UPS's international president. UPS now handles more than 14m packages worldwide every day.It is striking that postal firms—once seen as obsolete because of the emergence of the internet—are now finding salvation from it. People are paying more bills online and sending more e-mails instead of letters, but most post offices are making up for that thanks to e-commerce. After four years of profits, the United States Postal Service has cleared its $11 billion of debt.Firms such as Amazon and eBay have even helped make Britain's Royal Mail profitable. It needs to be: on January 1st, the Royal Mail lost its 350-year-old monopoly on carrying letters. It will face growing competition from rivals, such as Germany's Deutsche Post, which has expanded vigorously after partial privatisation and now owns DHL, another big international delivery company.Both post offices and express-delivery firms have developed a range of services to help ecommerce and eBay's traders—who listed a colossal 1.9 billion items for sale last year. Among the most popular services are tracking numbers, which allow people to follow the progress of their deliveries on the internet.A question of standardsMore suggestions of bad behaviour by tobacco companies. MaybeANOTHER round has just been fought in the battle between tobacco companies and those who regard them as spawn of the devil. In a paper just published in the Lancet, with the provocative title “Secret science: tobacco industry research on smoking behaviour and cigarette toxicity”, David Hammond, of Waterloo University in Canada and Neil Collishaw and Cynthia Callard, two members of Physicians for a Smoke-Free Canada, a lobby group, criticise the behaviour of British American Tobacco (BAT). They say the firm considered manipulating some of its products in order to make them low-tar in the eyes of officialdom while they actually delivered high tar and nicotine levels to smokers.It was and is no secret, as BAT points out, that people smoke low-tar cigarettes differently from high-tar ones. The reason is that they want a decent dose of the nicotine which tobacco smoke contains. They therefore pull a larger volume of air through the cigarette when they draw on a low-tar rather than a high-tar variety. The extra volume makes up for the lower concentration of the drug.But a burning cigarette is a complex thing, and that extra volume has some unexpected consequences. In particular, a bigger draw is generally a faster draw. That pulls a higher proportion of the air inhaled through the burning tobacco, rather than through the paper sides of the cigarette. This, in turn, means more smoke per unit volume, and thus more tar and nicotine. The nature of the nicotine may change, too, with more of it being in a form that is easy for the body to absorb.According to Dr Hammond and his colleagues, a series of studies conducted by BAT's researchers between 1972 and 1994 quantified much of this. The standardised way of analysing cigarette smoke, as laid down by the International Organisation for Standardisation (ISO), which regulates everything from computer code to greenhouse gases, uses a machine to make 35-millilitre puffs, drawn for two seconds once a minute. The firm's researchers, by contrast, found that real smokers draw 50-70ml per puff, and do so twice a minute. Dr Hammonds's conclusion is drawn from the huge body of documents disgorged by the tobacco industry as part of various legal settlements that have taken place in the past few years, mainly as a result of disputes with the authorities in the United States.Dr Hammond suggests, however, the firm went beyond merely investigating how people smoked. A series of internal documents from the late 1970s and early 1980s shows that BAT at least thought about applying this knowledge to cigarette design.A research report from 1979 puts it thus: “There are three major design featur es which can be used either individually or in combination to manipulate delivery levels; filtration, paper permeability, and filter-tip ventilation.” A conference paper from 1983 says, “The challenge would be to reduce the mainstream nicotine determined by standard smoking-machine measurement while increasing the amount that would actually be absorbed by the smoker”. Another conference paper, from 1984, says: “We should strive to achieve this effect without appearing to have a cigarette that cheats the league table. Ideally it should appear to be no different from a normal cigarette...It should also be capable of delivering up to 100% more than its machine delivery.”Thanks to the banksCollege students learn more about market ratesA GOOD education may be priceless, but in America it is far from cheap—and it is not getting any cheaper. On February 1st Congress narrowly passed the Deficit Reduction Act, which aims to slim America's bulging budget deficit by, among other things, lopping $12.7 billion off the federal student-loan programme. Interest rates on student loans will rise while subsidies fall.Family incomes, grant aid and federal loans have all failed to keep pace with the growth in the cost of tuition. “The funding gap between what students can afford and what higher education costs has got wider and wider,” says Claire Mezzanotte of Fitch, a ratings agency. Lenders are rushing to bridge the gap with “private” student loans—loans that are free of government subsidies and guarantees.Virtually non-existent ten years ago, private student loans in the 2004-05 school year amounted to $13.8 billion—a compound annual growth rate of almost 30%—and they are expected to double in the next three years. According to the College Board, an association of schools and colleges, private student loans now make up nearly 22% of the volume of federal student loans, up from a mere 5% in 1994-95.The growth shows little sign of slowing. Education costs continue to climb while pressure on Congress to pare down the budget deficit means federal aid will, at best, stay at current levels. Meanwhile, the number of students attending colleges and tradeschools is expected to soar as the children of post-war baby-boomers continue matriculating.Private student loans are popular with lenders because they are profitable. Lenders charge market rates for the loans (the rates on federal student loans are capped) before adding up-front fees, which can themselves be around 6-7% of the loan. Sallie Mae, a student-loan company and by far the biggest dispenser of private student loans, disclosed in its most recent report that the average spread on its private student lending was 4.75%, more than three times the 1.31% it made on its federally backed loans.All of this is good news when lenders are hungry for new areas of growth in the face of a cooling mortgage market. Private student loans, says Matthew Snowling of Friedman, Billings, Ramsey, an investment bank, are probably “the fastest-growing segment of consumer finance—and by far the most profitable one—at a time when finding asset growth is challenging.” Last December J.P. Morgan, which already had a sizeable education-finance unit, snapped up Collegiate Funding Services, a Virginia-based provider of federal and private student loans. Companies from Bank of America to GMAC, the financing arm of General Motors, have jumped in. Other consumer-finance companies, such as Capital One, are whispered to be eyeing the market.In the beginning...How life on Earth got going is still mysterious, but not for want of ideasNEVER make forecasts, especially about the future. Samuel Goldwyn's wise advice is well illustrated by a pair of scientific papers published in 1953. Both were thought by their authors to be milestones on the path to the secret of life, but only one has so far amounted to much, and it was not the one that caught the public imagination at the time.James Watson and Francis Crick, who wrote “A structure for deoxyribose nucleic acid”, have become as famous as rock stars for asking how life works and thereby starting a line of inquiry that led to the Human Genome Project. Stanley Miller, by contrast, though lauded by his peers, languishes in obscurity as far as the wider world is concerned. Yet when it appeared, “Production of amino acids under possible primitive Earth conditions” was expected to begin a scientific process that would solve a problem in some ways more profound than how life works at the moment—namely how it got going in the first place on the surface of a sterile rock 150m km from a small, unregarded yellow star.Dr Miller was the first to address this question experimentally. Inspired by one of Charles Darwin's ideas, that the ingredients of life might have formed by chemical reactions in a “warm, little pond”, he mixed the gases then thought to have formed the atmosphere of the primitive Earth— methane, ammonia and hydrogen—in a flask half-full of boiling water, and passed electric sparks, mimicking lightning, through them for several days to see what would happen. What happened, as the name of the paper suggests, was amino acids, the building blocks of proteins. The origin of life then seemed within grasp. But it has eluded researchers ever since. They are still looking, though, and this week several of them met at the Royal Society, in London, to review progress.The origin question is really three sub-questions. One is, where did the raw materials for life come from? That is what Dr Miller was asking. The second is, how did those raw materials spontaneously assemble themselves into the first object to which the term “alive” might reasonably be applied? The third is, how, having once come into existence, did it survive conditions in the early solar system?The first question was addressed by Patrick Thaddeus, of the Harvard-Smithsonian Centre for Astrophysics, and Max Bernstein, who works at the Ames laboratory, in California, part of America's space agency, NASA. As Dr Bernstein succinctly put it, the chemical raw materials for life, in the form of simple compounds that could then be assembled into more complex biomolecules, could come from above, below or beyond.Full to burstingRising levels of carbon dioxide will dump even more water into the oceansTHE lungs of the planet, namely green-leafed plants that breathe in carbon dioxide and breathe out oxygen, also put water vapour into the atmosphere. Just as people lose water through breathing (think of the misted mirror used to check for vital signs), so, too, do plants. The question is, what effect will rising concentrations of carbon dioxide have on this? The answer, published in this week's Nature by Nicola Gedney of Britain's Meteorological Office and her colleagues, would appear to be, less water in the atmosphere and more in the oceans.Measurements of the volume of water that rivers return to the oceans show that, around the world, rivers have become fuller over the past century. In theory, there are many reasons why this could be so, but some have already been discounted. Research has established, for example, that it is not, overall, raining—or snowing, hailing or sleeting—any more than it used to. But there are other possibilities. One concerns changes in land use, such as deforestation and urbanisation. The soil in rural areas soaks up the rain and trees breathe it back into the atmosphere, whereas the concrete in urban areas transfers rainwater into drains and hence into rivers. Another possibility is “solar dimming”, in which aerosol particles create a hazy atmosphere that holds less water. And then there is the direct effect of carbon dioxide on plant transpiration.Dr Gedney used a statistical technique called “optimal fingerprinting” or “detection and attribution” to identify which of these four factors matter. Her team carried out five simulations of river flow in the 20th century. In the first of these they allowed all four explanations to vary: rainfall, haze, atmospheric carbon dioxide and land use. They then held one of them constant in each of the next four simulations. By comparing the outcome of each of these with the first simulation, the team gained a sense of its part in the overall picture. So, for example, they inferred the role of land use by deducting the simulation in which it was fixed from the simulation in which it varied.As with any statistical analysis, the results are only as good as the model, the experimental design and the data. Dr Gedney and her colleagues acknowledge that their model does not fully take into account the use of water to irrigate crops—particularly important in Asia and Europe—nor the question of urban growth. They argue, however, that these aspects, taken together, would remove water from rivers, which makes their conclusion all the more striking. And it is this: fuller rivers cannot be explained by more rainfall or haze or changes in land use, but they can be explained by higher concentrations of atmospheric carbon dioxide.The mechanism is straightforward. A plant breathes through small holes, called stomata, found in its leaves. Plants take in carbon dioxide, and when the atmosphere is relatively rich in this gas, less effort is needed. The stomata stay closed for longer, and less water is lost to the atmosphere. This means that the plant doesn't need to draw as much moisture from the soil. The unused water flows into rivers.The great tech buy-out boomWill the enthusiasm of private-equity firms for investing in technology and telecoms end in tears, again?PRIME COMPUTERS, Rhythm NetConnections and XO Communications—all names to drain the blood from the face of a private-equity investor. Or so it was until recently, when investing in technology and telecoms suddenly became all the rage for private-equity companies. These investment firms—labelled “locusts” by unfriendly Europeans—generally make their money by buying big controlling stakes in companies, improving their efficiency, and then selling them on.In the late 1980s, Prime Computers became private equity's first great “tech wreck”, humiliating investors who thought they understood the technology business and could nurture the firm back to health away from the shorttermist pressures of the public stockmarket. After Prime failed, private-equity firms spent the best part of a decade focusing solely on the old economy. Only in the late 1990s, when the new economy was all the rage, did they pluck up the courage to return to tech and telecoms—a decision some of the grandest names in the industry were soon to regret. Hicks, Muse, Furst and Tate (Rhythm NetConnections) and Forstmann Little (XO) have both been shadows of their old selves since losing fortunes on telecoms.Now, investing in technology and telecoms is once again one of the hottest areas in the super-heated privateequity market. The multi-billion-dollar question is: will this round of investment end any less horribly than the previous two?Last month TDC, a Danish phone company, was finally acquired after a bid of $15.3 billion by a consortium including European giants Permira Advisors and Apax Partners, and American veterans Kohlberg Kravis Roberts (KKR), Blackstone Group and Providence Equity Partners. In the past five years, there has been private-equity involvement in about 40% of telecoms deals in Europe.On the other side of the Atlantic, the action has focused mainly on technology, rather than telecoms. Last summer, a consortium including Silver Lake Partners and KKR completed the biggest private-equity tech deal to date, buying SunGard Data Systems, a financial-technology firm, for $11.3 billion. Since then the deals have continued to flow. The $1.2 billion acquisition of Serena Software by Silver Lake is due to be completed by the end of March. Blackstone and others are said to be circling two IT outsourcing firms—Computer Sciences and ACS.There are reasons to hope that this time will be different. In telecoms, for instance, private-equity firms are mostly trying to buy established firms—often former national monopolists—that, while they might be threatened by internet telephony, have strong cash flow, physical assets and plenty of scope to improve the quality of management. These are the sorts of characteristicsprivate-equity investors thrive on. By contrast, the disastrous investments in the late 1990s were in new telecoms firms that were building their operations.In technology, private-equity interest has grown as the industry has matured, and cash-flow and profitability have become more predictable. Until recently, it has been the norm for tech firms to plough back all their profit and cashflow into investing in the business. They have carried no debt and paid no dividends. Now private-equity firms see the opportunity to pursue their classic strategy of buying firms by borrowing against cashflow, and then returning money to shareholders. Glenn Hutchins of Silver Lake thinks the tech sector is now in a similar condition to the old economy in America in the early 1980s, which is when private equity first started to have an impact, by restructuring and consolidating many industries.How to live for everThe latest from the wacky world of anti-senescence therapyDEATH is a fact of life—at least it has been so far. Humans grow old. From early adulthood, performance starts to wane. Muscles become progressively weaker, cognition fails. But the point at which age turns to ill health and, ultimately, death is shifting—that is, people are remaining healthier for longer. And that raises the question of how death might be postponed, and whether it might be postponed indefinitely.Humans are certainly living longer. An American child born in 1970 could expect to live 70.8 years. By 2000, that had increased to 77 years. Moreover, an adult still alive at the age of 75 in 2002 could expect a further 11.5 years of life.Much of this change has been the result of improved nutrition and better medicine. But to experience a healthy old age also involves maintaining physical and mental function. Age-related non-pathological changes in the brain, muscles, joints, immune system, lungs and heart must be minimised. These changes are called “senescence”.Research shows that exercise can help to maintain physical function late in life and that exercising one's brain can limit the progression of senescence. Other work—on the effects of caloric restriction, consuming red wine and altering genes in yeast, mice and nematodes—has shown promise in slowing senescence.The approach advocated by Aubrey de Grey of the University of Cambridge, in England, and presented at last week's meeting of the American Association for the Advancement of Science, is rather more radical. As an engineer, he favours intervening directly to repair the changes in the body that are caused by ageing. This is an approach he dubs “strategies for engineered negligible senescence”. In other words, if ageing humans can be patched up for 30 years, he argues, science will have developed sufficiently to make further repairs more effective, postponing death indefinitely.Dr de Grey's ideas, which are informed by literature surveys rather than experimental work, have been greeted with scorn by those working at developing such repair kits. Steven Austad, a gerontologist based at the University of Texas, warns that such therapies are many years away and may never arrive at all. There are also the side effects to consider. While mice kept onlow-calorie diets live longer than their fatter friends, the skinny mice are less fertile and are sometimes sterile. Humans wishing both to prolong their lives and to procreate might thus wish to wait until their child-bearing years were behind them before embarking on such a diet, although, by then, relatively more age-related damage will have accumulated.No one knows exactly why a low-calorie diet extends the life of mice, but some researchers think it is linked to the rate at which cells divide. There is a maximum number of times that a human cell can divide (roughly 50) before it dies. This is because the ends of chromosomes, structures called telomeres, shorten each time the cell divides. Eventually, there is not enough left for any further division.Cell biologists led by Judith Campisi at the Lawrence Berkeley National Laboratory in California doubt that every cell has this dividing limit, and believe that it could be only those cells that have stopped dividing that cause ageing. They are devising an experiment to create a mouse in which senescent cells—those that no longer divide—are prevented from accumulating. They plan to activate a gene in the mouse that will selectively eliminate senescent cells. Such a mouse could demonstrate whether it is。
英语报刊选读一、阅读材料1. The Economist (经济学人)The Economist is a weekly international business magazine published in London. It provides objective reporting, analysis and opinion to help business people and policy makers understand the global economy. The magazine covers a wide range of topics including business, politics, technology, culture and international affairs. It is a good source of news and analysis for English learners.2. New York Times (纽约时报)The New York Times is a daily newspaper published in New York City. It is one of the most influential English-language newspapers in the world, covering news, culture, sports and other topics. The newspaper publishes high-quality reporting, analysis and opinion on current events, and it is a good source of reading practice for English learners.3. Wall Street Journal (华尔街日报)The Wall Street Journal is a daily business newspaper published in New York City. It provides objective reporting and analysis on the financial markets, business news, economics and other topics. The newspaper is written in a formal style and is a good choice for students who want to improve their writing skills.二、回答问题1. What are the main differences between The Economist and the New York Times?The Economist is a weekly international business magazine published in London, providing objective reporting, analysis and opinion to help business people and policy makers understand the global economy. The New York Times is a daily newspaper published in New York City, covering news, culture, sports and other topics. Therefore, The Economist is more focused on business and international affairs, while the New York Times covers a wider range of topics.2. What are the advantages of reading Wall Street Journal for English learners?Reading the Wall Street Journal has several advantages for English learners. Firstly, it provides objective reporting and analysis on the financial markets, business news, economics and other topics, which helps learners improve their understanding of financial and economic issues. Secondly, the newspaper is written in a formal style, which provides learners with opportunities to improve their writing skills. Finally, reading the Wall Street Journal is a good source of reading practice for learners who want to improve their reading comprehension and vocabulary skills.三、个人观点In my opinion, reading English newspapers and magazines is an effective way for English learners to improve their language proficiency. By reading different types of newspapers and magazines, learners can broaden their horizons, improve their writing skills, and gain a better understanding of current events and international affairs. Additionally, reading newspapers and magazines in a foreign language provides learners with opportunities to practice their reading, listening, speaking and writing skills, which helps them develop a more natural fluency in the target language. Therefore, I recommend that English learners regularly read English newspapers and magazines to improve their language proficiency.。
The Economist 《经济学人》常用词汇大总结1、绝对优势(Absolute advantage)如果一个国家用一单位资源生产的某种产品比另一个国家多,那么,这个国家在这种产品的生产上与另一国相比就具有绝对优势。
2、逆向选择(Adverse choice)在此状况下,保险公司发现它们的客户中有太大的一部分来自高风险群体。
3、选择成本(Alternative cost)如果以最好的另一种方式使用的某种资源,它所能生产的价值就是选择成本,也可以称之为机会成本。
4、需求的弧弹性(Arc elasticity of demand)如果P1和Q1分别是价格和需求量的初始值,P2 和Q2 为第二组值,那么,弧弹性就等于-(Q1-Q2)(P1+P2)/(P1-P2)(Q1+Q2)5、非对称的信息(Asymmetric information)在某些市场中,每个参与者拥有的信息并不相同。
例如,在旧车市场上,有关旧车质量的信息,卖者通常要比潜在的买者知道得多。
6、平均成本(Average cost)平均成本是总成本除以产量。
也称为平均总成本。
7、平均固定成本( Average fixed cost)平均固定成本是总固定成本除以产量。
8、平均产品(Average product)平均产品是总产量除以投入品的数量。
9、平均可变成本(Average variable cost)平均可变成本是总可变成本除以产量。
10、投资的β(Beta)β度量的是与投资相联的不可分散的风险。
对于一种股票而言,它表示所有现行股票的收益发生变化时,一种股票的收益会如何敏感地变化。
11、债券收益(Bond yield)债券收益是债券所获得的利率。
12、收支平衡图(Break-even chart)收支平衡图表示一种产品所出售的总数量改变时总收益和总成本是如何变化的。
收支平衡点是为避免损失而必须卖出的最小数量。
13、预算线(Budget line)预算线表示消费者所能购买的商品X和商品Y的数量的全部组合。
THE AMERICAN GOTHIC OF GORDON PARKS~ Posted by George Pendle, January 20th 2015In 1950, the Life magazine photographer Gordon Parks returned to his hometown of Fort Scott, Kansas, to create a photo essay on segregation in American schools. Parks was the only African-American photographer on the staff at Life and he was no stranger to the subject. The youngest of 15 children born to a tenant farmer and a maid, he had attended the segregated Plaza School, where an all-black student body had been taught by an all-black faculty. For the young Parks this had seemed quite normal, as had the black Main Street that existed on one side of the railroad tracks and the white Main Street that existed on the other. But by 1950 this forced separation was starting to splinter(分裂) and Kansas was at the centre of a growing national debate over segregation: in 1954 the Supreme Courtdecision, Brown v Board of Education of Topeka, Kansa s, would order schools to desegregate, kick-starting 强力启动,提供最新动力the civil-rights revolution.Parks' idea was to personalise the story of segregation by tracking down his former classmates from the Plaza School. The photographs he took are now on view in a precise and powerful show at the Museum of Fine Arts in Boston. By the time he began work on the project, many of them had left Fort Scott and so his commission became a quest追求that followed the Great Migration of African-Americans out of the rural southern states to the urban Midwest. In St Louis, Chicago and Detroit, Parks caught up with and photographed his old schoolmates in an almost identical manner. He would stand them shoulder to shoulder with their spouses or children, with their apartment blocks or houses behind them (above). This was by no means incidental. In fact this seemingly simple composition held within it a powerful message.At the time, Life was the most popular news magazine in the United States. It had a weekly readership of some 20m, drawn primarily from the urban and suburban white middle classes. Parks realised that in telling his story he would have to counter many of the unfavourable preconceptions that the magazine's readers would have about African-Americans. He needed to normalise his subjects in the eyes of his audience. Buthow? His answer was to appropriate盗用,侵吞what might have beenthe United States' most beloved artwork at the time—Grant Woods' "American Gothic" (1930). In Woods' original painting a gaunt憔悴的,骨瘦如柴的, bespectacled戴眼镜的farmer holding a pitchfork stands shoulder to shoulder with a woman in an apron. Both look grimly out of the picture. In the background sits a small white clapboard house with an ornate Gothic window. To the majority of Americans this image spoke of a pioneer spirit and grit刚毅,勇气in the face of the Great Depression. Parks chose to replicate this painting's composition in the photographs of his schoolfriends not as a pastiche模仿作品or satire, but as a subliminal 潜意识的signal of normalcy, a connotation of Americanness.He had, in fact, quoted Woods' painting in one of his earliest photographs from 1942. In "American Gothic, Washington DC" he had photographed a charwoman in the Farm Security Administration building where heworked, holding up a mop in front of the American flag. It was a polemical好辩的,挑起争端的piece that criticised a deeply segregated city, but Parks' quotation of the painting in his Fort Scott photographs was softer and less controversial. He simply wanted to show his classmates as couples defined by something other than the colour of their skin, and as modern American pioneers, travelling north from their hometown, foreheads creased with worry (like the Iowa farmers of Woods' image) but similarly united in their pursuit of the fundamental American rights of life, liberty and property. It was not just an aesthetic equivalence that Parks was drawing, but a moral one too.He supplemented these portraits with depictions of his schoolmates and their families going to church, saying grace before a meal or playing pianos—an expensive status symbol—in order to further shorten the distance between them and Life's readership. But he didn't sugarcoat his story. Some of his classmates had been successful—we see one of them smoking a pipe on the porch of his house with his family, the epitome of suburban content. But others had fallen on hard times. Parks can't hide the suffering in one of his old schoolmates' eyes as she stares out of the window of her transient hotel while her abusive husband lies on a bed next to her (above). Shortly after the picture was taken he would rob Parks of his money. By mixing the good and the bad in equal measure Parks was trying to show that his classmates suffered the same everydaytragedies and worried about the same things—house payments, schools for their children—that white people did. A further emotional heft分量is added to this show by the painstaking curation of Karen Haas, who has found the yearbook photos of Parks' subjects and displayed them next to the portraits. Their chosen mottos ("To be young forever; to be a Mrs.", "Tee hee, tee ho, tee hee, ha hum; Jolly, good natured, full of fun") are as optimistic and silly as those of any young person of any colour.As it was the feature never ran in Life. It appears to have been bumped to one side as more important news events thrust themselves into the magazine's pages. Parks would go on to become a composer, a poet, a novelist and the first African-American to direct a Hollywood studio film (as well as the groundbreaking开创性的black action movie, "Shaft", in 1971). But despite these achievements and an increasingly globe-trotting life, it was to Fort Scott that he felt consistently drawn: "This small town into which I was born,/has, for me, grown into the largest,/and most important city in the universe./Fort Scott is not as tall, or heralded as New York, Paris or London—/or other places my feet have roamed,/but it is home."Heral n 使者,先驱v 预示着。
2011年英语二阅读text42011年英语二阅读text4一、文章题材结构分析本文选自The Economist ( 《经济学人》) 2010年7月8日一篇题为《Staring into the abyss》的文章。
本文是一篇说明文,说明欧盟统一的货币体系,它的现状,各国对其看法以及评价。
第一段段讲述欧盟今非昔比,问题严重。
第二段重点指出其面临的迫切问题,以及使用统一的货币带来的影响。
第三段指出问题的解决停滞不前的原因。
第四、五段分别介绍了德国和法国在欧盟统一货币方面方面的不同态度。
最后一段总结:现在为欧盟下定论. 还为时过早。
二、全文翻译Text 4Will the European Union make it(成功,固定词组)? The question would have sounded strange not long ago. Now even the project’s greatest cheerl eaders talk of a continent(洲,大陆)facing a “Bermuda triangle” of debt, population decline and lower growth.欧盟会成功吗?若在不久之前有人提这样的问题,人们会感到奇怪。
但是现在即使是欧盟最有力的支持者们也都在谈论欧洲大陆所面临的“百慕大三角”一一债务、人口下降和低速增长。
As well as those chronic(长期的,慢性的)problems, the EU faces an acute(严重的,急性的;激烈的;敏锐的;尖声的)crisis in its economic core, the 16 countries that use the single currency. Markets have lost faith that the euro zone’s economies, weaker or stronger, will one day converge thanks to(汇聚到)the discipline of sharing a single currency, which deniesuncompetitive members the quick fix of devaluation(货币贬值).译文:市场已经失去信心,不再相信欧元区的经济体,无论强弱,终有一天都会因遵循使用统一货币一,这可以阻止缺乏竞争力的成员国利用货币贬值快速解决经济问题一而走向融合。
《Energy:Seize the day》能源:机不可失The fall in the price of oil and gas provides a once-in-a-generation opportunity to fix bad energy policies油价大跌为调整不良能源政策提供了一辈子难得一遇的绝佳机会MOST of the time, economic policymaking is about tinkering at theedges(margins).大多时候,制定经济政策就是一些细节的修修补补。
Politicians argue furiously about modest changes to taxes or spending.些许的税收和支出变化都引起让政治家们强烈的争论。
Once in a while, however, momentous shifts are possible.然而有些时候,(经济政策)做出关键的调整是可能的。
From Deng Xiaoping’s market opening in 1978 to Poland’s adoption of“shock therapy” in 1990, bold politicians have seized propitious circumstances to push through reforms that transformed their countries.例如1978年邓小平的市场开放以及1990年波兰采用了“休克疗法”,大胆的政治家抓住了有利的大环境来推动改革让他们的国家转型。
Such a once-in-a-generation opportunity exists today.现在,就有一个一辈子一遇的机会!The plunging price of oil, coupled with advances in clean energy and conservation, offers politicians around the world the chance to rationalise energy policy.油价急剧下跌加上清洁能源以及环保技术的进步给全球的政治家提供了一个合理化能源政策的机会。
经济学人经济学人(The Economist)是一家国际知名的经济学与商业杂志,由英国皇家经济学家出版社(The Economist Group)出版。
创办于1843年,内容涵盖全球经济、政治、科技、文化等各个领域,以客观公正、权威独立的报道而闻名于世。
该杂志以其深入剖析问题的独到见解和高质量的调查报告而备受读者青睐。
经济学人的发行周期为每周一期,全年约有50期,每一期都围绕特定的主题进行深入研究。
杂志的各个版块包括国际新闻、财经、科技、商业、金融、文化等,涵盖了全球范围内的经济与商业问题。
经济学人以其独特的编辑风格而广为人知。
在撰写文章时,经济学人特别注重事实准确、分析深入和观点中立。
文章风格简洁明了,条理清晰,语言严谨,充满了经济学的思维方式和逻辑思维。
经济学人的读者群也是其独特性的体现。
经济学人的读者主要是来自商界、政界、学界和金融界的专业人士,以及对经济与商业问题感兴趣的广大读者。
很多政商要人通过阅读经济学人来获取最新的全球经济动态和商业趋势,以帮助他们做出决策。
经济学人作为一家国际化的杂志,在内容策划和报道方面非常注重全球视野。
无论是报道国际政治、全球经济形势还是科技创新发展,经济学人都能提供丰富的信息和独到的观点。
除了纸质杂志以外,经济学人还运营着一个全球性的网站和移动应用,为读者提供更为多样化和实时的资讯。
通过这些数字平台,读者可以随时随地获取经济学人的最新内容,并参与到有关经济与商业的讨论与辩论中。
总之,经济学人以其独特的品牌形象、高质量的报导和权威的分析,成为了经济与商业领域中不可或缺的声音之一。
无论是在政治经济、国际关系、科技创新还是商业趋势等领域,经济学人都始终保持着高度的影响力和价值。
它为读者呈现了一个全球的经济与商业画卷,为读者带来了关于全球经济格局和商业竞争的深刻思考。
我最喜欢的经济学家凯恩斯英语作文John Maynard Keynes is my favorite economist. His revolutionary ideas have had a profound impact on the field of economics and have shaped economic policy for decades to come.Keynes is best known for his book "The General Theory of Employment, Interest, and Money," which was published in 1936 during the Great Depression. In this book, Keynes challenged the prevailing economic orthodoxy of the time and introduced the concept of aggregate demand. He argued that government intervention was necessary to stimulate economic growth and reduce unemployment during periods of economic downturn.One of Keynes' most famous ideas is the concept of the multiplier effect. He believed that an initial increase in government spending would lead to a larger increase in overall economic activity, as the money circulated through the economy. This idea formed the basis for Keynesian economics, which advocates for government intervention in the economy to stabilize output and employment levels.Keynes' ideas had a major influence on economic policy in the years following the Great Depression. His theories were usedto justify government spending programs and monetary policy measures to combat economic crises and promote economic growth. Keynesian economics became the dominant school of thought in the mid-20th century, and many governments around the world adopted Keynesian policies to manage their economies.In addition to his contributions to economic theory, Keynes was also a key figure in the establishment of the Bretton Woods system and the International Monetary Fund. He played a crucial role in shaping the post-World War II economic order and promoting international cooperation in monetary affairs.Overall, John Maynard Keynes was a visionary economist whose ideas continue to shape economic policy and theory to this day. His emphasis on the importance of government intervention and the role of aggregate demand in economic growth have had a lasting impact on the field of economics and continue to be relevant in today's economic debates. Keynes is my favorite economist because of his innovative ideas and his enduring legacy in the field of economics.。
Playing against type
Sep 20th 2011, 20:41 by A.P. | ATHENS
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THE idea of banks as villains is pretty well absorbed in Europe and America. In this, as much else, Greece is an outlier. It's hard to talk to the banks there and not come away feeling sorry for them.
The banks did pretty well through the financial crisis of 2007-08. Rather than relying on the state for hand-outs, if anything, the traffic has been the other way, as banks' purchases of government debt have turned into the Greek government's surest way of funding itself. According to one banker these purchases are now somewhat coerced: the government wields the threat of withdrawing deposits held by all public-sector entities if the banks do not play ball.
Whatever the motivations, the risk of sovereign default makes the banks' balance-sheets highly inflammable. They have already taken write-downs as a result of the PSI initiative to make private-sector creditors bear some of the burden of keeping Greece afloat. But the risk of further restructuring still looms.
Funding is an enormous and related problem. Deposits are flowing out of the system—Credit Suisse reckons that private-sector deposits were down by 10% between January and July—as people run down their savings and worry about the risk of collapse. "We are psychotherapists to our depositors," says one banker of the efforts his institution makes to persuade people not to take money out of their accounts and stuff it under the mattress.
The ECB is keeping the banks alive, but it is also squeezing the oxygen supply by regularly revaluing the collateral that the banks are pledging. With collateral values shifting downward and funding terms shortened, the banks do not want to tie up the money they get in medium-term lending of the sort that the economy needs to grow.
Instead, the economy shrinks, increasing the problem of non-performing loans. A team from the ubiquitous Blackrock Solutions has been charged with going through the banks' loan books, which may leave them facing demands for more capital later in the year.
The bankers themselves do not want Greece to default (beyond the hit already entailed by the PSI). That would wipe out their capital, of course. Executives also argue that the threat of default is the best way to keep the country on the hook to carry out further reforms. The moral hazard that people should worry about is not letting private creditors off too lightly, but letting the Greeks off the hook, says one.
If they get their wish, that still leaves the banks facing a highly constrained future. Two—Eurobank and Alpha—have already merged, in a bid to generate more capital through cost savings. International assets are being disposed of. Operations are being managed with a limited goal in mind: to ensure enough income to cover provisions against losses. It's enough to induce sympathy.。