Posts tagged "stiglitz"

Bwoglines: The Future is Now Edition

Columbia’s Professor Stiglitz, who’s been making the rounds recently, published a commentary on the economic recession in Slate and, well, the headline says it all. (Slate)

Apple announced the iPhone 4S yesterday, and, along with it, their new Siri app; part voice-recognition, part artificial-intelligence, all HAL-9000. It’s a shame the name is destined to be the butt of many jokes in Japan. (CNet, WSJ)

Turns out Apple themselves predicted this kind of technology in one of those futuristic advertisements from the 80′s—creepy coincidence or full-blown conspiracy? You decide (see video below!). (TechCrunch)

Even without Steve Job’s prophetic vision, was anyone really blindsided by this? It’s official: Chris Christie isn’t running for President. Let’s be honest, he probably has to deal with enough problems as it is. (NYT)

In case you’re worried Dark Energy, expanding universes and the like might come in conflict with Einstein’s theories and all we hold dear, rest assured; this year’s Nobel Laureates in Physics—winning for research into the Universe’s expansion—are confident that Eintsein remains the golden standard for physicists. “Every test we have made has come out perfectly in line with Einstein’s original cosmological constant in 1917.” (NYT)


Stiglitz Speaks at Occupy Wall Street

Yesterday, our very own Professor Joseph Stiglitz, Nobel laureate for economics, stopped by Zuccotti Park to talk to the protestors, along with fellow economist Jeff Madrick. Because the demonstrators are not allowed to amplify sound in any way, the speeches are repeated a sentence at a time by the crowd so that the words can reach those who are not in earshot. Stiglitz’s opened his speech with a quip about the so-called echo chamber: “I realize the pedagogy of having to repeat what I say is very valuable, but it makes the whole process much longer.” Spoken like a true economist!

“There’s a system where we socialize losses and privatize gains,” he continued. “That’s not capitalism, that’s not a market economy, that’s a distorted economy and if we continue with that we won’t succeed in growing, and we won’t succeed in creating a just society.” This obviously went down well with the crowd, and Prof Stiglitz appeared to be very chuffed. Watch the full speech, or read our transcript below:

Click here for a full transcript of the speech


Summer Reading: Is Your Degree Worth It?

You sure you want that $200,000 hat?

Whether thoughts of the coming year bring joy or fear, recent months’ debate over the value of higher education should give you good reason to have second thoughts. Bwog daily editor Matt Schantz reviews the literature.

Richard Heffner, host of PBS’s Open Mind, began an interview with former Dean Moody-Adams with a provocative quote form MiMoo herself: “Some contemporary critics will wonder whether any liberal arts education can ever be anything more than a ‘remnant of economic privilege.’ Moreover, in a time of extraordinary economic upheaval and crisis it is not unreasonable to ask the larger question of whether there is an appropriate fit between the ideals of a liberal education and the broader demands of a sometimes brutal market economy.” Moody-Adam’s response to these critics: a confident “yes.” She asserts that a liberal arts degree is both economically viable— Columbia provides students with “intellectual cognitive capacities that will suit them well whatever line of work or profession they choose”— and anti-elitist. The liberal arts endow all students with cultural capital (a fancy word for the ability to name drop with the best of ‘em) regardless of socioeconomic background. Yet Moody-Adam’s argument, long the prevailing mantra of the liberal arts education, has come under close scrutiny recently, in part due to an alarming statistic that’s been making the headlines.

In Academically Adrift, sociologists Josipa Rosksa and Richard Arum examine the current state of higher education using the Collegiate Learning Assessment (CLA), a test designed to measure critical reasoning administered to students as incoming freshmen and a second time after they’ve completed sophomore year. According to their results, 45% of students don’t learn anything in their first two years of college due to lack of rigor. Students studying the liberal arts who took classes that required more than 40 pages of reading a week and writing more than 20 pages a semester improved the most. The statistic was the perfect sound bite to ignite further debate around an already hot topic. While some critiqued the methodology and recommendations of Academically Adrift, almost all agreed that higher education in America is broken. Read more…


Occasional Summer Bwoglines as of 06/06

Bwog is languidly clearing our virtual newsdesk today, bringing you a selection of interesting and possibly relevant headlines from the past few weeks. We hope that these stories, tenuously connected to Columbia, will reflect a similar degree of detachment from the establishment in your minds.

Oh yeah and Nadal won the French Open

One of the undercover cops in Operation Ivy League was undercover in more ways than one; while working for the NYPD, he ran an illegal gambling ring on Staten Island! (DNAinfo)

Professor David Epstein has pled guilty to charges of attempted incest, and conservative blogs have gleefully picked up the story. (eCourts, The Other McCain)

Turns out the whole Westside/Morton Williams debate misses the point. Both, along with most grocery stores in the city, are cheaper than everywhere else in the US. (WSJ)

Before kicking them out of the store, a white employee of our local UWS Apple Store allegedly told two young men that “before you say I’m racially discriminating against you, let me stop you. I am discriminating against you.” (Gawker)

The Class of 1941′s graduation was bittersweet, since Columbia sports hero Lou Gehrig died the day before commencement. A member of that class recently wrote a touching reflection in the Times about the tragic coincidence. (NYT)

Also in the Times, Room For Debate asks if college is worth it. Columbia associate economics prof Till von Wachter says “those from less prestigious schools and those students majoring in humanities” have the worst job prospects. Humanities majors also make less than engineers. So great news if you’re in SEAS and bad news if you’re in NYU. (NYT, Georgetown)

If you miss the (possibly late) Hawkmadinejad, why not watch Pip, the baby NYU hawk, live? (CityRoom)

What is it with economists and sexual assault? Another top international finance official sexually assaulted a hotel maid in New York—and the hotel tried to cover it up! Hopefully this will stop happening now that hotels are giving their maids panic buttons. (Daily Show, NYT, NYPost, WSJ)

Joseph Stiglitz has some advice for choosing the next IMF head: don’t worry about their nationality, just whether or not they can save Europe. Jeffrey Sachs also has advice for the IMF, but you might not be able to see it because the Financial Times doesn’t want broke college kids reading their precious op-eds. (Slate, FT, Observer)

Columbia researchers used a “back of the envelope calculation” to show that reducing levels of surface ozone could save businesses $1.1 billion in lost worker productivity. It’s not like it could also save all of humanity from being destroyed or anything. (Globe and Mail)

And go Mavs. Yep, sometimes we take sides.

Rafa (this photo is actually from 2006, but his outfit is a very close approximation of what he wore during the final at Roland Garros this year) via Wikimedia


Bwoglines: Mixed Bag Edition

Bwog just loves a good assortment.

Bwog’s favorite Nobel laureate Joseph Stiglitz tells America like it is. His advice? Listen to the IMF. (Slate)

The J-School recently awarded Al Jazeera English with the Columbia Journalism Award for “singular journalism in the public interest.” Bestowed in light of Al Jazeera English’s recent coverage of the 2011 revolutions in the Middle East, this is the school’s highest honor. (Columbia Journalism School)

Grant’s Tomb (you know, that cool historical place you always say you’ll visit on a sunny day, but never do) just gave you another reason to trek up to 122nd St—they just added a visitors’ center! We think you should head up there on a study break. Fresh air—it’s better than Facebook!

Given recent debate on American responses to Osama Bin Laden’s death, it should come as no surprise that 50 Cent protégé Hot Rod wanted to join in on the fun. The title of his newest club track? “Osama Bin Laden is Dead.” (Salon, NYT, Gothamist)

School lunches today are getting way fancier than the tater tots and chicken nuggets of Bwog’s day. Rutabaga fries? Grass-fed beef? New York prep schools have got ‘em. (NYT)


Bucket List: Is Stiglitz Selling a Book or Something?

Bucket List represents the unbelievable intellectual privilege and luxury we enjoy as Columbia students. We do our very best to bring to your attention important guest lecturers and special events on campus that will hopefully make you realize how lucky we are to be here. Our recommendations for this week (and now posted on Sundays as requested) are below and the full list is after the jump. There’s bound to be something here that you can use for a paper!

Recommended:

Read more…


Bwoglines: Other Countries Exist Edition

There's a whole world outside this country.

Ivo Sanader Gordon Bajnai, former prime minister of Hungary, will be a visiting scholar at Columbia in the Fall. Hopefully, he won’t suffer the same fate as Ivo Sanader, the last former prime minister of an Eastern European country to visit Columbia. (Politics.HU)

Why does Snoop Dogg need us to pay him so much for money for Bacchanal? Maybe because he tried to rent the country of Liechtenstein! Believe it or not, it’s possible to rent the country, but it will set you back a cool $70,000/night. (Atlantic Wire, AirBNB)

Kaley Hanenkrat, BC ’11, just won a Fulbright Scholarship! She’ll be spending most of next year in Ukraine, studying how political activists who supported the 2004 Orange Revolution have dealt with its partial failure and aftermath. (Spec, Carnegie Endowment)

Economics prof Joseph Stiglitz recently penned an op-ed in Vanity Fair condemning the absurd levels of wealth inequality in the US. While we were once the poster-child for social mobility, Stiglitz says, now “America lags behind any country in the old, ossified Europe that President George W. Bush used to deride. Among our closest counterparts are Russia with its oligarchs and Iran.” Ouch! Meanwhile, a Columbia professor of social work explained how Britain has succeeded in sharply reducing child poverty. (Vanity Fair, Economix)

It seems there’s no hope for journalism to ever turn a profit, so two Columbia J-School grads have launched Public Business, a nonprofit organization that funds high-quality business journalism. It’s like a cross between ProPublica and Business Insider. Prezbo would like you to remind you that journalism is important even if it’s not profitable and the governments of many other countries fund investigative journalism. (Reynolds Center, ProPublica, Business Insider, WSJ)

Violet, one of the hawks that has captured NYU’s heart, gave everyone a scare when she got part of a plastic bag stuck around her head. The fear was that her eggs rested on the rest of the bag and would therefore get tossed out of the nest if she tried to fly away. Crisis was finally averted when “without ceremony, Violet withdrew her head from the plastic loop.” (NYULocal, CityRoom)

These United States via Wikimedia Commons.


LectureHop: The State of Climate Change

Those are a lot of stairs to hop up...

As Dylan once professed, the times they are a-changin’. Although he wasn’t really referring to the climate, we’re going to extrapolate his message and use that as a lede here. Last night, welfare economics/climate change enthusiast Peter Krawczyk got Low (ha!) with Professors Stiglitz and Dasgupta. Hopping ensued.

The Fourth Annual Arrow Lecture in honor of Professor Kenneth Arrow was delivered in the Low Library Rotunda on Tuesday evening. Cambridge University’s Partha Dasgupta and our own Scott Barrett (SIPA) and Geoffrey Heal (BSchool) discoursed. Perhaps due to the time of the lecture or to the consistent rain that was falling outside, there were many empty seats around the periphery of the rotunda as Professor Joseph Stiglitz gave the introductory remarks. However, the combination of a small audience with the friendly rapport of most of the speakers (Dasgupta, Heal, and Stiglitz all studied at Cambridge) lent the lecture a refined and intimate atmosphere of a 19th century academic society, as twilight fell behind the statues of Euripedes, Demosthenes, Sophoclese and Augustus Caesar.

The evening’s topic was “Persons and Time in the Welfare Economics of Climate Change,” and Professor Dasgupta accordingly avoided common debates about the severity and timing of climate change to instead focus on the method of evaluating intergenerational justice as it pertains to climate change. This concept of justice refers to the increasingly apparent evidence that climate change entails costs that will vary across time. By taking steps now to prevent climate change, we are essentially incurring costs upon ourselves in order to lessen the future costs of climate change. How much of our current consumption are we willing to give up so that future generations will be able to consume one unit more?
Read more after the jump!


Bwoglines: These Trying Times Edition

It's time to take responsibility.

New York schools are increasingly suspending students for even minor rule violations. Just ask Postcrypt. (NYT, Spec)

Columbia econ celeb, Joseph Stiglitz, criticizes Obama’s economic policies while talking to media at Davos. Why does that sound so familiar? (Bloomberg)

Criminal Sexting! Barnard TA, Igor Sorkin (of no relation to Aaron), was charged with texting naked pictures to a police officer posing as a 14-year-old girl. (Spec)

Rachel Sterne, a 27-year old adjunct professor at the B-School, is now New York City’s first Chief Digital Officer. Bwog hopes she’ll let us add Bloomberg on Facebook. (Capital)

Columbia has started administering OWL tests to some grad students. Next, there will be magical duels on the Steps. (PRLog)

Another one of the countless reasons to deactivate Facebook: it will suck your soul dry… science proved it! (Slate)

Columbia students get good grades! Keep studying, kids! (Spec)

Image from Wikimedia Commons


Bucket List: Bollywood Weddings, Martian Invasions and Sacred Foxes Edition

One of the greatest perks of an Ivy League education is having all sorts of guest lecturers and talks hosted right on campus. Yet many of these great talks are not publicized enough. Enter Bucket List, a weekly feature that aggregates these events in a single location that will hopefully make you realize, like Bwog has, how special our campus is. Our recommendations for this week are below; the full list is after the jump. Have a gander, who knows what you’ll find!

Recommended:

Mon, Sept 27

  • “The Difficulty of Being Good: On the Subtle Art of Dharma” 208 Knox Hall, 4:00 pm – 5:30 pm, Gucharan Das and Sheldon Pollock
  • “Screening of Slingshot Hip Hop” 603 Hamilton, 8:00 pm – 10:00 pm, Students

Tues, Sept 28

  • “Barnard Career Development’s Kick Off Event: Jammin’ Java” Lehman Lawn, 4:00 pm – 8:00 pm, Rozatones, Finotee, Various Other Artists
  • “Inter-Faith Vigil for Pakistan” Sundial, Low Plaza, 8:00 pm – 9:00 pm, Students

Wed, Sept 29

  • “Ethnic Cleansing in the Partition of India” 707 IAB, 12:15 pm – 2:00 pm, Steven Wilkinson and Pavithra Suryanarayan
  • “Global Aid in Africa” Wood Auditorium, Avery Hall, 6:00 pm – 7:00 pm, Joseph Stiglitz and Louis Kasekende

Thurs, Sept 30

  • “The Impact of Immigration on the Distribution of American Well-Being” 801 IAB, 2:00 pm – 4:00 pm, Gary Burtless
  • “The Weather of the Future” President’s Room, Faculty House, 2:00 pm – 4:00 pm, Heidi Cullen

Fri, Oct 1

  • “The Future of U.S. Nuclear Weapons: New START and Nuclear Posture Review” 1501 IAB, 12:15 pm – 2:00 pm, Elbridge Colby and Austin Long
  • “Martian Invasion: NASA’s Army of Exploratory Robots – And Free Stargazing” Pupin Hall (Follow Signs in Lobby), 8:00 pm – 10:00 pm, Jeff Andrews

Read more…


Ethiopian Prime Minister Meles Zenawi, As He Likes It

While insults were hurled outside the gates, all was peaceful in Roone yesterday afternoon as Ethiopian Prime Minister Meles Zenawi addressed the issue of “The Current Global Environment and its Impact in Africa” as part of Columbia University’s World Leaders Forum. Mark Hay reports on this smooth-talking politician’s calm yet controversial visit to Morningside.

Zenawi in 2008

Zenawi in 2008

From the protests outside, one might have expected more of a ruckus in Roone yesterday as two-decade Ethiopian leader (currently Prime Minister) Meles Zenawi prepared to take the stage. But it seems that Columbia has learned from Minutemen, head-kicking, and Ahmadinejad fever: no bags were allowed into the event, suited men ominously lined the south wall, keeping sentinel watch over the full crowd, and the question and answer segment was kept pegged to artificial pacifism.

Though docile, the crowd inside represented the staid counterpart of the protests outside—a slightly larger group who view Zenawi as the face of an independent and growing Africa, as a paragon of stability and savvy, cheering wildly at his every answer; a slightly smaller group who view the man as a dictator limiting free press, jailing and intimidating opposition parties and minorities, and manipulating his Western allies, cheering with equal vigor but less mass at every critique of the man and then grumbling to each other in Amharic. And clever man that he is (view him as the devil or, as he seemed to wish, the savior, he is a smooth operator), Zenawi did not want to stir the waters.

Zenawi’s address itself presented little of interest on the surface. He focused in on an element of Ethiopia lauded by Joseph Stiglitz in his introduction of Zenawi: economic progress via uniquely African methods. In a soft and drowsy, yet audible academic’s voice, Zenawi presented the audience with his summarization of neoliberalism’s flirtation and eventual abusive and destructive relationship with Africa. The reforms of neoliberal financial lenders “were sold as the ultimate salvation of [Africa’s] problems,” said Zenawi. “The reforms could not and did not lead to salvation,” but instead, he argued, created three consecutive lost decades for Africa.

In the past this may have been a daring assertion, to march into the universe’s financial hub and speak ill of the reigning financial order, but Zenawi knows when to tap discontent with existing institutions, to mine the discontents of the world as he accuses the larger world of mining Africa. And he knows when to play the cards of hope, ideals, and faith. For, not to fear, said Zenawi, “there is a silver lining for Africa because of the global economic crisis.” There is a chance for Africans to determine their own future, to overcome the handicaps imposed by circumstance and foreign hands, and to find salvation, utilizing itself as a source of vital resources and the site of a future manufacturing hub. It’s a happy note that jabs at America and its old financial order, but does so in a way that feels inclusive to spurned Americans and calming to those jittery with apocalyptic visions. Read more…


LectureHop: Spanish PM Zapatero on Global Economic Development

Tuesday afternoon, a slew of Columbians filled Low Rotunda to learn a thing or two about the global economy from José Luis Rodríguez Zapatero, the Spanish Prime Minister. The flags of Spain, the U.S., and Columbia were arranged behind the podium to welcome the leader (who does kind of resemble Mr. Bean!) to speak on “The New Economic Order and the Millennium Development Goals.”

Zapatero. /wikimedia

Interpreting devices lined the chairs of the full auditorium, which led to several audible remarks along the lines of, “I wonder if he’s going to speak in Spanish!” If the technological clues were not enough, a woman announced shortly thereafter that Zapatero would, indeed, be giving the speech in his native tongue, then proceeded to connect the audience to an automated messaging system instructed us to dial “1” for English and “2” for Español.

Four speakers comprised the line-up of the longest and most built-up introduction of all time, all referencing the goals of the UN’s Millennium project:

First, provost Claude Steele spoke on how the “responsibility of a global center of learning” such as Columbia to provide a venue in which “difficult conversations are encouraged and respected” is crucial in today’s world, where we sometimes compromise the discussion of real issues for the sake of political correctness.

Next J-Sachs quipped, “I can’t tell you how much fun it is to have you in our home.” Read more…


Bwoglines: A Melange

Gulati, PrezBill and Landon in happier times. Photo via ohnotheydidnt

That means “a motley assortment of things.” Seatbelts, everyone!

Gulati says the U.S team was “capable of more” in the World Cup.

Columbia is a partner in a jargon-y, confusing government project called the “NYC Media Lab.”

Breaking: James Franco is self-important. He is also an artist.

Joseph Stiglitz makes $109,919 a year is the highest paid B-school professor in the country.

A look at how Columbia B School has changed (by not really changing!) post-crash.

CC alum create the Salsabol, which provides a new and revolutionary way to scoop salsa.

Procrastination o’clock? Watch this footage of Columbia going crazy in 1969 1968, even though it says 1969 for some reason.


LectureHop: A New (dis)Order?: The Promise and Pitfalls of Financial Market Reform

Last night the University played host to yet another speculative overview of our recent financial woes – bringing Joseph Stiglitz, Gary Gensler, and Arthur Levitt into the spotlight once more. As the men mused about our reactions to financial crisis and what’s to come, Bwog’s Financial Regulation Bureau Chief Grant D’Avino was there reporting.

Domestically and internationally, calls for reform have resounded in the wake of worldwide financial crisis. The repercussions of the crisis are still being felt and yet to be completely understood. While banks, governments, regulators, and human nature have each taken a turn as the supposed cause of the crisis, Monday night’s panelists switched gears from blame to make clear that financial reform and regulation are the only way to prevent similar calamities in the future.

Gary Gensler, Chairman of the Commodity Futures Trading Commission, who would later be described by co-panelist and former Chairman of the Securities and Exchange Commission Arthur Levitt as the “finest chairman of the most underfunded, under-supported agency in the history of America,” was the first to speak. He opened with a bit of useful historical context, noting that much maligned financial derivatives have existed in one form or another since the Civil War as instruments used to hedge risk. However, he stressed that the derivatives at the heart of the recent crisis, called over-the-counter derivatives, originated in the 1980’s. Gensler believes that well-regulated financial markets build confidence and credibility important to investors, maintaining a level playing field that is both fair and transparent. Read more…


The Heyman Center: We ♥ U, Joseph Stiglitz

The Heyman Center has released their Spring 2010 events schedule, and it’s highlighted by not one, but two appearances by Mr. Right Side of History himself, Joseph Stiglitz. He’ll be part of “The Continuing Financial Crisis: Perspectives from the North and the South” on March 25th with Prabhat Patnaik, and Jomo Kwame Sundaram, and “Mismeasuring Our Lives: Why GDP Doesn’t Add Up,” along with Nancy Folbre and Geoffrey Heal on April 19th.

Others that stand out:

  • “The Great American University: Is Its Preeminence at Risk?” Our guess is “maybe,” but Geoffrey Stone (current editor of the Inalienable Rights series), Richard Axel (2004 winner of the Nobel Prize in Physiology or Medicine), and former CU provost Jonathan Cole discuss. February 17th.
  • Eric Sundquist delivers this year’s Lionel Trilling Seminar, “Obama, King, Ralph Ellison, and the American Dream.” Kenneth Warren and Glenn Loury are the respondents. April 15.
  • Jamaica Kincaid (Important Author) gives a reading followed by an interview. April 22nd.
  • M.H. Abrams, who conceived and edited the freaking Norton Anthology of English Literature, will lecture on “The Fourth Dimension of Poetry.” April 28th.

Full email after the jump. Read more…


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  • Lost: Blue Coach Purse (Feb 06 2012)

    The purse has large red circles on it, and contained an ID card, keys, wallet, pink headphones, Metrocard, and other important things. Last seen in Schermerhorn 614. If found, please contact rdc2125@barnard.edu

  • Lost: LL Bean Backpack and Macbook (Feb 05 2012)

    Hi, I’m missing a black LL Bean Backpack, last seen in the lounge of Broadway 12 during the Super Bowl. It’s black, with the initials “BCB,” embossed in grey. It contains an Apple laptop and several important books. If found, contact bcb2131@columbia.edu.

  • Lost: Paul Smith Wallet (Feb 02 2012)
    I lost a Paul Smith, multi-striped leather wallet (red, yellow, green, etc.) and it should have a insurance card and metro card among other things. Reward offered, wy2185@columbia.edu

  • Lost: Lion Laundry Gym Bag (Feb 01 2012)

    I lost a Lion Laundry bag full of gym items. Contact sac2171.

  • Lost: Burberry Coat (Feb 01 2012)

    Black puffy coat with two layers and Burberry plaid pattern on lining. Last seen at Lerner Party Space during Black Students Organization (BSO) party on January 20. Please contact jyc2130@columbia.edu if found. Reward offered.

  • Lost: Ivory Scarf (Jan 31 2012)

    Yellowish ivory scarf with a lot of print on it. Most likely to be found at 504 Diana or LRC SIPA. If found then you shall be rewarded with my eternal gratitude. Contact: an2503@barnard.edu

  • Lost: Blackberry (Jan 30 2012)

    Last seen in the Hartley computer lab at around 9 am, on 1/30/12. No case; no password; background is a generic picture of a rower on a lake. About 2 years old and showing its wear. Contact: etp2109.

  • Lost: Burberry Scarf (Jan 28 2012)

    Last seen at Il Cibreo on January 19 around 1am. It’s beige cashmere with unique colors which complete the original burberry pattern. If you took it by accident please contact aln2133@columbia.edu. If you took it because you like it, not cool.

  • Lost: Tacky Umbrella (Jan 23 2012)

    I lost my umbrella today in Schermerhorn 612. I had class until 12:15, went back tonight around 6 pm, and it was gone. It is Paris themed, so it has the eiffel tower, arc du trimpuh etc. Email lgg2110@barnard.edu.Thanks!

  • Found: Black T-Mobile Phone (Jan 23 2012)

    Black T-Mobile phone found on 113th and Broadway (sidewalk by Chase). Contact asvokos@gmail.com for retrieval.

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