Daily briefing: Economics Nobel — why banks fail

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Ben Bernanke, Philip Dybvig, and Douglas Diamond, recipients of the 2022 Nobel prize in economic sciences.Credit The Brookings Institution, Washington University, University of Chicago Booth School of Business

Economics Nobel: Why the banks don’t work

Economics experts Ben Bernanke, Douglas Diamond, and Philip Dybvig were awarded the economics Nobel prize, formally known as the Sveriges Riksbank Prize in Economic Sciences in Honor of Alfred Nobel. The research of the three laureates provides a rationale for the reasons why banks exist in the way they are and the reason why the system of banking is fundamentally unstable. “The simplicities of the mathematical arguments are beautiful and their research is of great policy significance,” says economist Atif Mian.

 

Pakistan inundations raise calls for climate justice

Record rainfall this summer has left a third of Pakistan submerged, killing more than 1,300 people and causing massive destruction that affected more than 33 million. The tragedy has raised the issue of whether rich nations should offer funds to deal with the damage and loss caused by climate changes on the populations that are the ones who have contributed less to emissions. This will be one of the key issues during the next United Nations climate conference, the COP27 conference, which will take place in November. Pakistan has contributed just 0.8 percent to greenhouse gas emissions worldwide, yet it faces damage estimated to be greater than 10 percent of its GDP. Researchers have reaffirmed their call for Pakistan’s government to follow the advice of scientists against construction in flood zones and seeking infrastructure projects that hinder natural drainage.

Mars microbes may have done it themselves in

Ancient Mars may be able of nurturing methane-producing, hydrogen-consuming microbes. While similar organisms helped improve the conditions that we have on Earth better suited to living but they would have accomplished the exact opposite on Mars. Computer models indicate that methane generated by Martian organisms could have chilled the planet, making it inhospitable. The life that exists “might often result in its own demise” the principal researcher Boris Sauterey. He acknowledges that the findings are “a little dark” however, they are nonetheless interesting. “They call us to think about how a biosphere and the planet are interconnected.”

Opinions and features

How research can help hospitals flourish
Research can enhance patient care in hospitals, according to immunologist Luiz Vicente Rizzo, a research director of one the most renowned Latin American institutions: the Teaching and Research Institute of the Albert Einstein Israelite Hospital located in Sao Paulo, Brazil. He describes the ways researchers at ‘Einstein collaborate with medical professionals for the benefit of both. “Doctors who conduct a research stay up-to-date with developments in the latest in their area,” he says. “As a result, they are able to provide the most up-to-date treatments even if they’re not readily accessible.”

Find out more about the program on the Nature Spotlight Research Hospital An independent journal that is edited by an editorialist.

 

Does God be proven mathematically?

From the logician Kurt Gottel’s efforts to make use of logic in order to demonstrate that God exists to Pascal’s wagerit’s a good idea to believe, even if it’s just to keep from a hypothetical hell, some mathematicians have attempted to deal with spiritual issues. This brief history of endeavors (spoiler warning) doesn’t settle things in a definitive way however, it’s an enjoyable time trying.

Scientific American 7 min to read (free registration may be required)Quantum scientist Chao-Yang Lu creates quantum computers — in this case, he’s looking at the control electronics used to ‘phase lock’ photons to ensure they can enter the computer in a synchronized manner. “We have now reached 130 photons,” Lu says. Lu. “In 2020 our computer was among the first in the world to show a quantum advantage. It was able to complete a computation in just 200 seconds, which would have taken the conventional supercomputer nearly two billion years.” ( Nature 3 minutes reading) (Dave Tacon, for Nature)

 

Today’s quote

“I will be the man you should be talking to for anything you need.”
Technical chemist Neil Barnes, who has won the Royal Society’s very first ever Hauksbee award for his ‘behind-the behind scenes’ achievements in science, has jokes about vacuum systems as one of his areas of expertise. ( Chemistry World | 2 minutes read)