Robert Lucas, the economist who developed a statistical theory to explain how new government policies would change pre-existing economic models, passed away recently. The Lucas critique stemmed from a test Lucas applied to macroeconomic theory, which showed that relationships between employment and higher inflation in the US economy would become unstable if policymakers attempted to act on them. Lucas continued to research dynamics for the remainder of his career, focusing on how work effort evolves over time and how future predictions for industry spending are formulated. Lucas adopted the “rational expectations hypothesis", which assumed that actors in his models would expect what the model itself predicted. Rational expectations were not the same as flawless foresight, but they “eliminated the main intellectual basis" for fiscal and monetary fine-tuning of demand, he argued.
Ben Stiller lends support to Bonavista Peninsula group raising money for women's shelter
CBC
23-05-18 08:30
The SaltWater Community Association on the Bonavista Peninsula is seeking to establish a women's shelter, raising $50,000 through a telethon. Women fleeing domestic violence situations currently have to travel hundreds of km for safe housing. Actor Ben Stiller supported the initiative whilst filming in the area, calling for people to back the plan in a video message. The need for a women's shelter on the Bonavista Peninsula comes at a time when resources are struggling and demand is at critical levels. The telethon fundraiser will be broadcast live on Eastlink and Rogers TV and online on Thursday evening.
The only holdout juror in the Lori Vallow murder trial has revealed why he changed his mind to convict the mother last week. Saul Hernandez said that when the jury began deliberating, he was the only one unconvinced that the prosecution had proved its case. But over the course of just seven hours, it became clear to him that Vallow is guilty. During the trial, Hernandez found it “hard to look at” Vallow as gruelling evidence emerged. Mr Hernandez said he was ‘disgusted’ by photos of Vallow and Mr Daybell smiling through their beach wedding just weeks after the children were killed. Vallow was found guilty of first-degree murder, conspiracy and grand theft over the deaths of her daughter Tylee Ryan, son Joshua “JJ” Vallow, and of conspiracy to murder Tammy Daybell, her new husband Chad Daybell’s first wife.
Criticism has been levelled at the US Equal Employment Opportunity Commission by Republicans in Congress, who accused the body of performing inadequately under the administration of Joe Biden. At issue was the backlog of workplace discrimination complaints, which the EEOC experienced in 2021, as the US attempted to emerge from Covid-19. It also handled a larger than usual number of phone calls and emails from workers. The backlog of complaints had reduced during the administration of former president Donald Trump. Congress members have also requested data for the types of discrimination, based on sex, race and other factors.
The proposed Renters' Bill set out by the UK government has been criticised by landlords and Conservative supporters. The bill, which would eliminate so-called "no fault" evictions, letting renters stay without a contract for just one year instead of six months, and making landlords give three months' notice before raising rents, has led some landlords to claim they will sell their properties. A recent government survey found that almost one in three tenants were concerned about being made to leave their rented homes. One of the commenters in the Telegraph newspaper said that the bill deprived them of any meaningful sense in which their property would remain theirs, calling it "socialist nonsense". Another commenter said "economically, it is a total disaster".
The rise of loud, action-packed superhero art has drowned out quieter works that can be both moving and profound, according to The Economist. "Quiet" work – often used to describe art with "humdrum" plots or a lack of exotic setting and gore – is less frequently celebrated or recognised than action-packed blockbusters. Such work can still have a profound effect on those who see it, however, as evidenced by exhibitions such as Magdalena Abakanowicz and Yayoi Kusama's installations, which bring silent but life-like art to the masses.
A mishmash of regulations across US states is causing difficulties for businesses. Different state governments have differing views on everything from the production of lifts to running a bank, and have legislated to ban abortions, encourage diversity on company boards or outlaw race discrimination in pursuit of diversity. A US state government's decision to regulate one area of business can have widespread impact given that American firms operate in a country which has a coast-to-coast marketplace that is too important for it to take for granted. “If the trend of state supermajorities persists after the 2024 elections, things could get worse," warns The Economist's opinion column, Schumpeter. Companies' third headache, when it comes to navigating different legislations, is to do with greenery as states introduce contradictory regulations about oil, gas and coal investments. The challenge is compounded by the fact that doing business in the EU may require sustainability reporting, which some in the US find unpalatable.
Business management book, "The Goal," has returned to prominence during the pandemic, following its popularisation of bottleneck thinking during the 1980s. The novel introduces Eli Goldratt’s "theory of constraints," which focuses on identifying physical, policy-based or personnel bottlenecks that can delay decision-making or slow supply chains. As global shortages of semiconductors and congestion at ports have affected production, supply chains and shipping during the pandemic, managers have been revisiting the book to seek insights. The story follows protagonist Alex Rogo, a plant manager, who is given just three months to save his factory from closure by identifying and reducing bottlenecks.
Florida Governor Ron DeSantis is predicted to announce his candidacy for the Republican presidential nomination soon, but his position as the main anti-Trump candidate could be hampered by the fact that his polling numbers pale in comparison to those of the former president. Though DeSantis leads the “not-Trump” lane at this time, with North Dakota Governor Doug Burgum and Virginia Governor Glenn Youngkin thought to be contesting him, he has yet to get close to Trump’s numbers, and this could leave a lot of anti-Trump voters looking to back other candidates. As yet, the “lanes” argument about the Republican nomination, as was the case in 2015, appears to be a contest between Trump and “everyone else”.
Paparazzi photographers have said they were not responsible for a “near catastrophic car chase” involving the Duke and Duchess of Sussex in New York. Freelance photographers who were covering the couple’s visit said the couple had not been at any point “in immediate danger”. They suggested the vehicles used by the Sussexes’ security escort may have driven dangerously, potentially “blocking off streets”. Backgrid USA, a celebrity news service, is investigating allegations that the couple’s safety was put at risk by paparazzi. Photographers from the company denied that they had been involved in any near misses, stating that the duchess had been photographed smiling in the back of a taxi following an award ceremony. Meanwhile, the UK Treasury has revealed that the state funeral of Queen Elizabeth II cost the government an estimated £161.7m. The event, which took place at London’s Westminster Abbey in September 2022, was preceded by an 11-day period of national mourning.
Students, parents and MHAs call for new school to replace 'deplorable' C.B.S. junior high
CBC
23-05-18 17:20
Parents and students of Frank Roberts Junior High in Conception Bay South protested outside the school's front doors on Thursday over what they're calling "outrageous" and "deplorable" conditions. Parents are calling for the school, which was built in 1969 and currently holds 660 students with no cafeteria, to be replaced completely, however Newfoundland and Labrador English School District CEO Terry Hall did not agree. The district wouldn't put people in a school that they thought wasn't safe, said Hall.
US Representative (R-Ga.), Marjorie Taylor Greene has claimed that the term "white supremacist” is equal to the N-word. This claim is incorrect; the N-word is a racial slur, whilst "white supremacist" describes a person's beliefs. Greene’s comments are indicative of a wider divide between Democrats, who view racism as embedded within America's systems, and many Republicans, who argue that there are no inherent advantages concerning race. Conservative politicians are taking advantage of constituents' fears that America is becoming more diverse and stoking the perception of embattlement and grievance.
Millennials and Gen Z voters are making up an increasing proportion of US voters, causing a shift towards the Democrats, according to the Washington Post. Voter-data firm Catalist said that Gen Z and millennial voters made up 26% of the electorate last year, compared with 23% in the 2018 midterms, while the oldest generations comprised just half as much of the electorate between 2016 and 2020. As an increasing proportion of the electorate is made up of younger voters, who tend to be more heavily Democratic, this has been on the radar of the Republican National Committee since at least 2012.
Global chipmakers including Taiwan Semiconductor Manufacturing, Samsung Electronics, Intel and US chipmaker Micron, have agreed to invest billions of dollars in Japan as countries seek to reduce their dependence on Taiwan’s semiconductor industry, which is under threat of invasion by China. Rising tensions between the west and China have spurred on this shift towards reducing reliance on Taiwan. Semiconductors are an essential component to modern-day technology & electronic equipment, and Taiwan is home to 65% of the world’s semiconductors and almost 90% of the most advanced chips.
The upcoming G7 meeting in Hiroshima, which aims to provide a “united front” on the Ukraine crisis and growing concerns about China’s global power, reflects a rapidly changing international order, according to the BBC. The summit of the world’s wealthiest democracies, which will start on Friday in the Japanese city, has also this year been extended to include Australia, India, Brazil, South Korea, Vietnam, Indonesia, Comoros (representing the African Union) and the Cook Islands (representing the Pacific Islands Forum). The new attendees represent the so-called “Global South”, which is keen to stress that there is an alternative to Russia and China. However, gaining support for sanctions to be placed against Moscow will be a challenge as many of the G7’s new guests maintain complex political and economic ties with both Russia and China. A number of the new attendees also depend heavily on Chinese aid and are economically tied to Beijing.
An aspiring Indian actress, Chrisann Pereira, was released from jail after being framed by two men who had told her she was auditioning for a role in an international web series in Sharjah in the United Arab Emirates. They then handed her a memento stuffed with drugs and she was arrested on arrival. Three weeks later, the two men were arrested in Mumbai and charged with framing her. Respondents to Pereira’s brother’s social media plea reported similar experiences with a man offering them similar deals. Police said that the alleged plot was revenge targeted at Pereira’s mother following an argument over stray dogs. Indian film star, Sonu Sood, announced that he would be offering Pereira a new role in one of his upcoming films.
WestJet Airlines cancelled scores of flights and grounded planes on 29 July in preparation for a possible pilot strike or lockout beginning on 30 July. The cancellations represent 85% of the airline's daily passengers. The Air Line Pilots Association has said that WestJet pilots are underpaid by around 40% compared to the North American average, and is calling for equivalent pay. WestJet called the wage demands "unreasonable". The WestJet pilot dispute highlights a pivotal moment at Canadian airlines, which are under financial pressure from higher labour, equipment and fuel costs. Additionally, there is little sign of a significant upswing in air travel, which was hit hard by the pandemic. Canadian travellers typically pay more for their flights than passengers in the US.
The Republican-led majority in North Carolina passed a bill that prohibits abortions after 12 weeks, defying Governor Roy Cooper's orders, the day before Florida's governor signed several bills into law attempting to restrict access to gender-affirming treatment and drag shows for minors. These two legislative efforts, fueled by right-wing politics, have become common in the US. The Washington Post has been monitoring abortion and anti-transgender restrictions in each state. The majority of blue states are consistent in preserving abortion rights, although they are more versatile in their views on legislation targeting transgender individuals.
A federal court in the US recently ruled that the federal government could not enforce a key condition in the American Rescue Plan Act of 2021: a restriction on state tax cuts. Thirteen states that took Rescue Plan funds filed a lawsuit, arguing that the offset provision of the law was too vague to be constitutional under the Spending Clause. The decision was a blow to the Biden administration’s COVID pandemic response efforts, which have been characterised by a failure to draw appropriate boundaries between the powers of the federal government and those of the states. The Court held that without setting a baseline for calculating state tax revenues and without defining the scope of the term “indirectly” the offset provision was “too vague”. Congress had effectively offered to buy some of the states’ sovereign authority over taxes until the Rescue Plan funds were spent, but it should clearly inform the states of the boundaries separating prohibited tax cuts from permissible reductions in tax revenue.
An unknown student from Michigan State University has criticised the lack of legality surrounding firearm use after a gun attack last month that left three students dead on campus. The student used the campus monument, “the Rock”, which has traditionally been used by students to promote campus activities and social campaigns, to voice defiance against laws prohibiting firearms from being carried in college dorms or classrooms. The Michigan State University Board of Trustees has gone a step further by banning firearms on campus in any area over which it has jurisdiction.
