Skinlike Electronic Patch Takes Pulse, Promises New Human-Machine Integration

From Scientific American:

Skin-electronic-patch_1 You might think that temporary tattoos look cool, but what if they could also collect and transmit information about your heart rate, temperature, muscle contractions or brain waves?

A new flexible electronic circuit promises to do just that, by moving with the skin and staying in place without any adhesive. The research used existing semiconductor technology to imprint integrated circuits onto a thin, flexible silicon film that can be applied directly on the skin. The device is described in a new paper published online August 11 in Science. “The goal is really to blur the distinction between electronics and biological tissues,” John Rogers, a professor of materials science and engineering at the University of Illinois at Urbana-Champaign (U.I.C.U.) and co-author of the new study, said in a podcast interview. The new technology might soon allow monitoring to become “simpler, more reliable and uninterrupted,” Zhenqiang Ma, a professor at the University of Wisconsin–Madison's Department of Electrical and Computer Engineering, wrote in an essay in the same issue of Science.

More here.

Wednesday Poem

Proof

Her skin, saffron toasted in the sun,
eyes darting like a gazelle.

—That god who made her, how could he
have left her alone? Was he blind?

—This wonder is not the result of blindness:
she is a woman, and a sinuous vine.

The Buddha's doctrine is thus proven:
nothing in this world is created.
(Dharmakirti, 7th Century)

Prueba

La piel es azafrán al sol tostado,
son de gacela los sedientos ojos.

—Ese dios que la hizo, ¿cómo pudo
dejar que lo dejase? ¿Estaba ciego?

—No es hechura de ciego este prodigio:
es mujer y es sinuosa enredadera.

La doctrina del Buda así se prueba:
nada en este universo fue creado.
(Dharmakriti, siglo VII)

by Octavio Paz
from The Collected Poems 1957-1987
Carcanet Press, 1988

Tuesday, August 16, 2011

the secret history of guns

Winkler-wide

The eighth-grade students gathering on the west lawn of the state capitol in Sacramento were planning to lunch on fried chicken with California’s new governor, Ronald Reagan, and then tour the granite building constructed a century earlier to resemble the nation’s Capitol. But the festivities were interrupted by the arrival of 30 young black men and women carrying .357 Magnums, 12-gauge shotguns, and .45-caliber pistols. The 24 men and six women climbed the capitol steps, and one man, Bobby Seale, began to read from a prepared statement. “The American people in general and the black people in particular,” he announced, must “take careful note of the racist California legislature aimed at keeping the black people disarmed and powerless Black people have begged, prayed, petitioned, demonstrated, and everything else to get the racist power structure of America to right the wrongs which have historically been perpetuated against black people The time has come for black people to arm themselves against this terror before it is too late.” Seale then turned to the others. “All right, brothers, come on. We’re going inside.” He opened the door, and the radicals walked straight into the state’s most important government building, loaded guns in hand. No metal detectors stood in their way. It was May 2, 1967, and the Black Panthers’ invasion of the California statehouse launched the modern gun-rights movement.

more from Adam Winkler at The Atlantic here.

the hanging at Mankato

LittleCrow-500

ONE DAY IN THE FALL of 2006 my mother, visiting from Chicago, and I were having breakfast in Brooklyn, with her rolling through updates on distant relatives who occupy various corners of the Midwest. She told me about our cousin, Helene Leaf, who was researching a Lutheran church founded in East Union, Minnesota, by my great-great-great uncle, Peter Carlson. I was until that point failing to pay attention, dutifully nodding and uttering, “Really?” every few seconds. But then something cut through the static of anonymous small towns and genealogical records: Helene had learned that another great-great-great uncle named Anders Johan Carlson had served in the Union army during the Civil War, and had been standing guard during the execution of several Indians, the sight of which had made him vomit—even, I imagined, as a crowd stood by stolidly, or perhaps even jubilantly. I had grown up in Chicago and had never heard of any such execution, and neither had my mother. The story stuck with me, though, quickly shifting into that category of things you feel like you’ve known all your life. A few months later, I did a cursory Google search and found that the event in question had taken place in Mankato, an unassuming town in southern Minnesota, on December 26, 1862. Thirty-eight Dakota men were hanged by the army, making it the largest mass execution to ever take place in the US. A story began to take shape: The scaffold fell from the Dakotas’ feet, the nooses tightened around their throats, and a resounding cry went up from the throng of a thousand onlookers.

more from Claire Barliant at Triple Canopy here.

How Google Dominates Us

Google_guys-081811_jpg_230x867_q85

Tweets Alain de Botton, philosopher, author, and now online aphorist: The logical conclusion of our relationship to computers: expectantly to type “what is the meaning of my life” into Google. You can do this, of course. Type “what is th” and faster than you can find the e Google is sending choices back at you: what is the cloud? what is the mean? what is the american dream? what is the illuminati? Google is trying to read your mind. Only it’s not your mind. It’s the World Brain. And whatever that is, we know that a twelve-year-old company based in Mountain View, California, is wired into it like no one else. Google is where we go for answers. People used to go elsewhere or, more likely, stagger along not knowing. Nowadays you can’t have a long dinner-table argument about who won the Oscar for that Neil Simon movie where she plays an actress who doesn’t win an Oscar; at any moment someone will pull out a pocket device and Google it. If you need the art-history meaning of “picturesque,” you could find it in The Book of Answers, compiled two decades ago by the New York Public Library’s reference desk, but you won’t. Part of Google’s mission is to make the books of answers redundant (and the reference librarians, too). “A hamadryad is a wood-nymph, also a poisonous snake in India, and an Abyssinian baboon,” says the narrator of John Banville’s 2009 novel, The Infinities. “It takes a god to know a thing like that.” Not anymore.

more from James Gleick at the NYRB here.

Overrated: Authors, critics, and editors on “great books” that aren’t all that great

From Slate:

Bannedbooks_catcherrye Tom Perrotta, author most recently of The Leftovers

On a recent episode of South Park, the kids got all excited about reading The Catcher in the Rye, the supposedly scandalous novel that's been offending teachers and parents for generations. They were, of course, horribly disappointed: As Kyle says, it's “just some whiny annoying teenager talking about how lame he is.” Is it more than that? Lots of people, including some writers I revere, seem to think so. But I've never been able to see what they're seeing, nor can I buy into the myth that Holden is some sort of representative American teenager. He's a self-pitying prep school esthete obsessed with his little sister, the kind of boy who takes it upon himself to erase obscene graffiti from bathroom walls. And that fantasy about catching children in a field of rye? “Thousands of little kids, and nobody's around—nobody big, I mean—except me.” What's that all about? I'm not suggesting we need to like Holden in order to consider him important, I'm just baffled by the reverence and affection so many readers seem to feel for this peculiar creep.

Ulys Daniel Mendelsohn, frequent contributor to the New York Review of Books; his books include How Beautiful It Is and How Easily It Can Be Broken, a collection of his essays and reviews

Honestly I've never been persuaded by Ulysses. To my mind, Joyce's best and most genuine work is the wonderful Dubliners; everything afterwards smacks of striving to write a “great” work, rather than simply striving to write—it's all too voulu. Although there are, of course, beautiful and breathtakingly authentic things in the novel (who could not love that tang of urine in the breakfast kidneys?), what spoils Ulysses for me, each time, is the oppressive allusiveness, the wearyingly overdetermined referentiality, the heavy constructedness of it all. Reading the book, for me, is never a rich and wonderful journey, filled with marvels and (no matter how many times you may read a book) surprises—the experience I want from a large and important novel; it's more like being on one of those Easter egg hunts you went on as a child—you constantly feel yourself being managed, being carefully steered in the direction of effortfully planted treats. Which, of course, makes them not feel very much like treats at all.

More here.

Cancer’s Secrets Come Into Sharper Focus

From The New York Times:

Onc For the last decade cancer research has been guided by a common vision of how a single cell, outcompeting its neighbors, evolves into a malignant tumor. Most DNA, for example, was long considered junk — a netherworld of detritus that had no important role in cancer or anything else. Only about 2 percent of the human genome carries the code for making enzymes and other proteins, the cogs and scaffolding of the machinery that a cancer cell turns to its own devices. These days “junk” DNA is referred to more respectfully as “noncoding” DNA, and researchers are finding clues that “pseudogenes” lurking within this dark region may play a role in cancer.

“We’ve been obsessively focusing our attention on 2 percent of the genome,” said Dr. Pier Paolo Pandolfi, a professor of medicine and pathology at Harvard Medical School. This spring, at the annual meeting of the American Association for Cancer Research in Orlando, Fla., he described a new “biological dimension” in which signals coming from both regions of the genome participate in the delicate balance between normal cellular behavior and malignancy. As they look beyond the genome, cancer researchers are also awakening to the fact that some 90 percent of the protein-encoding cells in our body are microbes. We evolved with them in a symbiotic relationship, which raises the question of just who is occupying whom. “We are massively outnumbered,” said Jeremy K. Nicholson, chairman of biological chemistry and head of the department of surgery and cancer at Imperial College London. Altogether, he said, 99 percent of the functional genes in the body are microbial.

More here.

Monday, August 15, 2011

Sunday, August 14, 2011

O’Keeffe and Stieglitz: Intimacy at a Distance

14SOLOMON-1-articleInline Deborah Solomon on Faraway One: Selected Letters of Georgia O’Keeffe and Alfred Stieglitz: Volume I, 1915-1933, in the NYT:

The first thing one notices about “My Faraway One: Selected Letters of Georgia O’Keeffe and Alfred Stieglitz: Volume I, 1915-1933” is its elephantine bulk. Running to more than 800 extra-large, text-crammed pages, it inherently raises the question of whether O’Keeffe is a sturdy enough talent to support such heavy, reverential treatment. She was, to this viewer, an original painter, but the distilled lushness of her early scenes of flowers and skies eventually ossified, and her work became formulaic, one of the first brands in American art. She claimed to have found her inspiration in nature, but her paintings — with their radical simplification of form and near abstractness — perhaps owe more to the early experiments in close-up photography of Paul Strand, who was part of the Stieglitz circle and a close friend of hers.

But let’s just leave her art out of this for now. In “My Faraway One,” Sarah Greenough, a senior curator at the National Gallery of Art in Washington, has assembled some 650 letters into a volume that is basically a love story pitched at the highest romantic level. Which is not to say that O’Keeffe and Stieglitz were actually compatible. They were the sort of couple who seemed to experience their most genuine togetherness when they were separated by a safe distance of at least a few hundred miles. Astoundingly, some 5,000 letters survive. Most of them are housed at the Beinecke Library at Yale, where O’Keeffe deposited them on the condition that they remain sealed until 20 years after her death. (She died in 1986.)

Why Moral Leaders Are Annoying

Byron_1824 Josh Rothman over at The Boston Globe's Brainiac:

Moral leadership is challenging for an obvious reason — you have to know what's right and wrong. But it's also difficult because, on the whole, people are ambivalent about moral crusaders. Now there's a name for that strange mixture of admiration, guilt, and defensive dismissiveness you feel when you encounter someone better than you: it's called “anticipated reproach,” and Benoît Monin, a psychologist at Stanford, has studied it in a number of fascinating experiments. His essential finding: The more we feel as though good people might be judging us, the lower they tend to fall in our regard. As he explains in a recent paper, coauthored with Julia Minson of Wharton, “overtly moral behavior can elicit annoyance and ridicule rather than admiration and respect” when we feel threatened by someone else's high ethical standards.

Monin has documented the effect most vividly in a 2008 study, “The Rejection of Moral Rebels: Resenting Those Who Do the Right Thing,” written with Pamela Sawyer and Matthew Marquez. It revolves around a simple task, in which you're asked to decide which of three suspects is most likely to have committed a burglary. To make the decision, you consult a group of photographs and a table of evidence. The evidence clearly points to one of the suspects, “Steven Jones”: he's unemployed, has no alibi, and has been arrested carrying cash and a screwdriver. He's also — as his photo reveals — African-American. The task is set up, in fact, so that you have little choice but to accuse Jones of burglary, and to explain your reasoning in writing at the bottom of the questionnaire.

Along with the detective work, Monin asked participants to perform another task — sometimes beforehand, sometimes afterward. In this second task, you're given another participant's questionnaire, and asked to rate and describe that participant's personality. Unbeknownst to you, the questionnaire you're given is fictional. Sometimes it explains why Jones must have done it (“I think Steven Jones did it because 1) He’s got no real alibi, 2) He’s done it before, and 3) He’s carrying a lot of cash….”); other times, it articulates a principled objection to the whole experiment. There's no face circled on the “rebel” questionnaire. Instead the 'previous participant' has lodged a protest: “I refuse to make a choice here — this task is obviously biased… Offensive to make black man the obvious suspect. I refuse to play this game.”

The study works, essentially, by swapping the order of the two tasks. The results are striking. Participants who looked at the rebel questionnaire and rated its author before accusing Jones tended to admire the rebel, using words like “strong,” “independent,” and “socially conscious” to describe him. By contrast, participants who encountered the rebel questionnaire after accusing Jones of burglary tended to find fault with him, describing him as “self-righteous,” “defensive,” “opinionated,” and “confused.” Implicit in the rebel's objection, after all, was an accusation of racism. The threat of that accusation was enough to make participants change their opinions, replacing respect with dismissiveness.

Cat Got Your Tongue?

20110806_BKP513_412 In the Economist, a review of Mara Hvistendahl's Unnatural Selection: Choosing Boys Over Girls, and the Consequences of a World Full of Men:

AS HE walked into the maternity ward of Lok Nayak Jayaprakash Narayan Hospital in Delhi on his first day at work in 1978, Puneet Bedi, a medical student, saw a cat bound past him “with a bloody blob dangling from its mouth.” “What was that thing—wet with blood, mangled, about the size of Bedi’s fist?” he remembers thinking. “Before long it struck him. Near the bed, in a tray normally reserved for disposing of used instruments, lay a fetus of five or six months, soaking in a pool of blood…He told a nurse, then a doctor, I saw a cat eat a fetus. Nobody on duty seemed concerned, however.” Mara Hvistendahl, a writer at Science magazine, is profoundly concerned, both about the fact that abortion was treated so casually, and the reason. “Why had the fetus not been disposed of more carefully? A nurse’s explanation came out cold. “Because it was a girl.”

Sex-selective abortion is one of the largest, least noticed disasters in the world. Though concentrated in China and India, it is practised in rich and poor countries and in Buddhist, Hindu, Christian and Muslim societies alike. Because of males’ greater vulnerability to childhood disease, nature ensures that 105 boys are born for every 100 girls, so the sexes will be equal at marriageable age. Yet China’s sex ratio is 120 boys per 100 girls; India’s is 109 to 100.

The usual view of why this should be stresses traditional “son preference” in South and East Asia. Families wanted a son to bear the family name, to inherit property and to carry out funerary duties. Ms Hvistendahl has little truck with this account, which fails to explain why some of the richest, most outward-looking parts of India and China have the most skewed sex ratios.

Redefining the Public University: Developing an Analytical Framework

Burawoy Michael Burawoy over at the SSRC's Transformations of the Public Sphere:

The university is in crisis, almost everywhere. In the broadest terms, the university’s position as simultaneously inside and outside society, simultaneously participant in and observer of society – always precarious – has been eroded. With the exception of a few hold‐outs the ivory tower has gone. We can no longer hold a position of splendid isolation. We can think of the era that has disappeared as the Golden Age of the University, but in reality it was a fool’s paradise that simply couldn’t last. Today, the academy has no option but to engage with the wider society, the question is how, and on whose terms?

In this essay I examine the twin pressures of regulation and commodification to which the university is subject (→Market and Regulatory Models), propose a vision of the public university (→An Alternative Framing), position that vision within different national contexts (→University in the National Context) and then within a global context (→The Global Context) before concluding with the assertion of critical engagement and deliberative democracy as central to a redefined public university (→What Is To Be Done?).

Market and Regulatory Models

We face enormous pressures of instrumentalization, turning the university into a means for someone else’s end. These pressures come in two forms – commodification and regulation. I teach at the University of California, which had been one of the shining examples of public education in the world. In 2009 it was hit with a 25% cut in public funding. This was a sizable chunk of money. The university has never faced such a financial crisis since the depression and it was forced to take correspondingly drastic steps – laying off large numbers of non‐academic staff, putting pressure on already outsourced low‐paid service workers, furloughing academics that included many world renowned figures, introducing management consultants to cut costs and increase efficiency. Most significantly it involved a 30% increase in student fees, so that they now rise to over $10,000 a year, but still only a quarter of the price of the best private universities. At the same time, the university is seeking to increase the proportion of students from out of state as these pay substantially more than those from in‐state. There has been talk of introducing distance learning and even the shortening of the time to degree.

Sunday Poem

A Maul for Bill and Cindy's Wedding
.
Swung from the toes out,
Belly-breath riding on the knuckles,
The ten-pound maul lifts up,
Sails in an arc overhead,
And then lifts you!

It floats, you float,
For an instant of clear far sight—
Eye on the crack in the end-grain
Angle of the oak round
Stood up to wait to be split.

The maul falls—with a sigh—the wood
Claps apart
and lies twain—
In a wink. As the maul
Splits all, may

You two stay together.

by Gary Snyder
from Axe Handles
Shoemaker and Hoard, 1983

Beauty and Wisdom

Robbie Kaye in lensculture:

Kaye_1 Beauty & Wisdom documents a fast disappearing aspect of American culture (Americana) as well as a diminishing population of women who are part of a generation that is often overlooked. More important than their weekly ritual of going to the 'beauty parlor' is the fact that these women are extremely vibrant, wise and humorous…and committed to maintaining their life-long ritual for rejuvenation and connection. As baby boomers age, the rituals of their mothers and grandmothers will fade and become obsolete. Beauty & Wisdom documents a generation of women, aged 70 and over, who have been going regularly to the beauty parlor once a week not as a luxury, but as a necessity, for most of their adult years. This project explores the grace and courage in which these women age in a society so heavily focused on the beauty of youth. Ironically, these are the women who opened doors for future generations of women to walk through, yet they are now part of an invisible generation.

More here.

The armored child

From The Boston Globe:

Helmet Perhaps you’ve seen the helmet babies – on the T, strapped into portable carrying chairs between fidgety parents; on the street, curled up in slings against the chests of dads. Helmet babies look strange, their soft baby heads encased in shells of foam, tight straps hugging their chins. If you’ve spotted one at close range, you may have felt the temptation to ball your hand into a fist, reach over, and give that fortified little noggin a gentle “knock knock.” Not long ago, babies were only fitted with helmets if they were born with irregularly shaped heads. But in recent years, entrepreneurial manufacturers have expanded the market, creating helmets designed for any children whose parents want to protect them from scrapes and bruises while they’re learning how to stand upright and walk. These helmets have names like ThudGuard, SoftTop, and Baby No Bumps. Some even come with decorative Mickey Mouse ears.

The baby helmet is just one piece of the protective armor being built around childhood these days. There are soft pads to shield babies’ knees from irritation while they’re learning how to crawl. Specialty feeding spoons change color when the food is too hot. GPS devices track babies’ movement in real time. The Safety Turtle antidrowning alarm alerts you when they get into the water. As these products proliferate – perhaps you’d like to dress your baby in a full-body jumper with special pockets that make it impossible to drop him? – so does the sentiment that perhaps we’re going too far, and that parents have let their protective instincts get the best of them. In books, magazines, and parenting blogs, a divisive public debate has placed safety-conscious moms and dads on the defensive against a chorus of critics who believe America’s children are being crippled by paranoid overprotection.

More here.

Saturday, August 13, 2011

Is Craig Venter going to save the planet?

Susan Okie in The Washington Post:

Venter In a pristine white greenhouse in La Jolla, Calif., maverick molecular biologist Craig Venter is showing off tubs of dark green goop that might help rescue the planet. Winter sunlight streams through the glass roof onto rows of long, white troughs filled with algae and seawater. A little water wheel in each trough turns to keep the liquid circulating and the growing cells evenly exposed to light and to carbon dioxide-enriched air. Computers maintain a constant temperature. Giant transparent bags of algae varieties waiting to be tested hang from metal beams. This goop, Venter hopes, will someday replace oil wells, free the planet from its dependency on fossil fuels and create a near-endless supply of energy.

Jim Flatt and Paul Roessler, two senior scientists at Venter’s company, are leading guests through the greenhouse and trying not to reveal too many details about their ambitious venture. But their hypercompetitive boss, who has made a career out of shaking up the cautious culture of science — sometimes prematurely, critics say — keeps chiming in. The strategy, Roessler explains, will be to grow oil-producing algae in concentrated conditions, “to maximize photosynthetic productivity and take up greenhouse gases at the same time.” Venter jumps in: “This is our halfway house … a long way from the lab. The next phase is doing this in large outdoor facilities.”

More here.

Saturday Poem

Grief Calls Us To The Things Of This World

The eyes open to a blue telephone
In the bathroom of this five-star hotel.

I wonder whom I should call? A plumber,
Proctologist, urologist, or priest?

Who is most among us and most deserves
The first call? I choose my father because

He's astounded by bathroom telephones.
I dial home. My mother answers. “Hey, Ma,

I say, “Can I talk to Poppa?” She gasps,
And then I remember that my father

Has been dead for nearly a year. “Shit, Mom,”
I say. “I forgot he's dead. I'm sorry–

How did I forget?” “It's okay,” she says.
“I made him a cup of instant coffee

This morning and left it on the table–
Like I have for, what, twenty-seven years–

And I didn't realize my mistake
Until this afternoon.” My mother laughs

At the angels who wait for us to pause
During the most ordinary of days

And sing our praise to forgetfulness
Before they slap our souls with their cold wings.

Those angels burden and unbalance us.
Those fucking angels ride us piggyback.

Those angels, forever falling, snare us
And haul us, prey and praying, into dust.

by Sherman Alexie
from Thrash
Hanging Loose Press

Love, the Many-Splendored Emotion

From The New York Times:

Shulevitz-popup The news about love — if anything can be said to be new when it comes to love — is that it affects us on more levels than we realized. Poets and artists have long viewed love as a prime mover, but by the beginning of the last century, scientists and philosophers were dismissing it as socially and scientifically irrelevant. Love was confined to private life, where only women and novelists and psychoanalysts were supposed to pay much attention to it. Then, a little more than half a century ago, biologists and economists and psychologists decided that love mattered after all, and began conducting experiments to determine how much.

The early science of love looks a little shocking in retrospect. Experiments meant to demonstrate that mammals attach themselves to mothers because they need love, not just food, all too often required outright torture. Researchers snatched baby creatures away from mother creatures and put them in cages to prove that life without love was a sad, diminished thing. The science of sexual attraction made use of more benign methods, but until more women entered the field and started asking different questions, the experiments tended to produce stunning affirmations of Western patriarchal stereotypes. Whatever the results, however, this work did make scientists appreciate the central importance of love for life. Love or the lack of it turned out to affect not just psyches but also bodies; not just brains and genitals but also hormones and the expression of genes; not just the well-­being of individuals but also the flourishing of societies.

More here.

Friday, August 12, 2011

Dan Ariely on Behavioural Economics

SOver at The Browser's Five Books:

The first one on your list is The Invisible Gorilla: How Our Intuitions Deceive Us, by Christopher Chabris and Daniel Simons.

These are the guys who did one of the most important pieces of research in social science, which is to show how little we actually see in the world around us. The basic demonstration of this is a movie in which there are two groups playing basketball. One group is wearing white t-shirts and the other group is wearing black t-shirts. They are passing the ball, and the viewer is asked to count how many times the people in white t-shirts pass the ball to each other. What then happens in the background is a gorilla passes through. He stops right in the middle and thumps his chest. When the clip is over, the viewer is asked, “How many times did you see the people in white t-shirts pass the ball?” Sometimes they get it right, sometimes they get it wrong. But when you ask, “How many of you saw the gorilla?” it turns out very few people saw the gorilla.

I didn’t see the gorilla.

There’s also another demonstration in the book that I really like. This involves going up to someone on a campus with a map and saying, “Excuse me, can you help me figure out how to get to the student centre?” They take the map from your hand and start explaining it to you. While they’re explaining, two people in workmen’s clothes come between you with a door. For a moment, they obscure your view. What the person you’ve asked for directions doesn’t know is that you’re going away. You’re walking off with the door and a new person is standing in front of them. The question is, do people notice this change? And the answer is, again, no.

What Can Replace the Dollar?

Pa3808c_thumb3 Barry Eichengreen in Project Syndicate:

For more than a half-century, the US dollar has been not only America’s currency, but the world’s as well. It has been the dominant unit used in cross-border transactions and the principal asset held as reserves by central banks and governments.

But, already before the recent debt-ceiling imbroglio, the dollar had begun to lose its luster. Its share in the identified foreign-exchange reserves of central banks, for example, had fallen to just over 60%, from 70% a decade ago.

The explanation is simple: the United States no longer dominates the world economy to the extent that it did in the past. It makes sense that the international monetary system should follow the global economy in becoming more multipolar. Just as the US now has to share the world stage with other economies, the dollar will have to make room for other international currencies.

In my recent book Exorbitant Privilege: The Rise and Fall of the Dollar, I described a future in which the dollar and the euro would be the dominant global currencies. And, peering ten and more years down the road, I anticipated a potential international role for the Chinese renminbi.

I ruled out a role for Special Drawing Rights (SDRs), the accounting unit issued by the International Monetary Fund. One might think that the SDR, as a basket of four currencies, might be attractive to central banks and governments seeking to hedge their bets. But the process for issuing SDRs is cumbersome, and there are no private markets in which they can be traded.

There was no realistic alternative, I concluded, to a future in which the leading national currencies, the dollar and the euro, still dominated international transactions.

What’s different now is that a pox has been cast on both houses.