Adam Tooze’s essay on Paul Krugman contains this very revelatory passage: “The more imperfections there are in a model, the less easy it is confidently to characterise the equilibrium that supposedly approximates the running of the actual economy. The result is liberating in its overturning of a simplistic faith in the self-regulating perfection of free trade or flexible markets, but it also creates an opportunity
for heterodox economists and disreputable policy entrepreneurs. Upholding the rigour and status of proper economics thus requires vigilant policing. Summers, for example, can take startlingly radical positions on such issues as secular stagnation and the need to increase the bargaining power of organised labour, while at the same time feuding with the left over wealth taxes and stimulus cheques. Similarly, William Nordhaus, the Nobel Prize-winning climate economist, has spent much of his career since the 1970s policing the boundary between climate alarmism and what hi
Credit: Composite image by Elle Starkman / Solar image by NASA Goddard Media Studios
Every day, the sun ejects large amounts of a hot particle soup known as plasma toward Earth where it can disrupt telecommunications satellites and damage electrical grids. Now, scientists at the U.S. Department of Energy s (DOE) Princeton Plasma Physics Laboratory (PPPL) and Princeton University s Department of Astrophysical Sciences have made a discovery that could lead to better predictions of this space weather and help safeguard sensitive infrastructure.
The discovery comes from a new computer model that predicts the behavior of the plasma in the region above the surface of the sun known as the solar corona. The model was originally inspired by a similar model that describes the behavior of the plasma that fuels fusion reactions in doughnut-shaped fusion facilities known as tokamaks.
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IMAGE: Neutrons can see through metal. Therefore neutron diffraction is an ideal method for measuring residual stress inside of components made by additive manufacturing. The image shows a lattice structure in. view more
Credit: Dr. Tobias Fritsch / BAM
3D printing has opened up a completely new range of possibilities. One example is the production of novel turbine buckets. However, the 3D printing process often induces internal stress in the components which can in the worst case lead to cracks. Now a research team has succeeded in using neutrons from the Technical University of Munich (TUM) research neutron source for non-destructive detection of this internal stress - a key achievement for the improvement of the production processes.