Jeremy Horpedahl in The City Journal:

The Federal Reserve’s latest Survey of Consumer Finances contains several revelations about the state of the American economy.

First, it found that the average American household’s net worth is over $1 million. Outliers can distort averages, of course, but even median household wealth is at the Fed’s highest level ever recorded. In 2019, it was still stuck below pre-Great Recession levels. By 2022, however, it had reached $192,000, eclipsing the 2007 mark by more than 10 percent, and almost doubling the post-Great Recession 2010 figure. (These and all subsequent data are adjusted for inflation.)

Income data complicate this rosy picture. The Census Bureau found that median household income has declined by almost 5 percent since 2019. That raises a question: How can median household wealth be up by 37 percent since 2019 at the same time median household income declined?

More here.

John Banville at The Guardian:

If letter writing is an art form, then Seamus Heaney was one of its master practitioners. Christopher Reid’s 800-page selection from what he assures us was an “enormous output” – “I have had to cut back severely to make a book of publishable proportions” – is a trove of delights as much as it is a literary testament.

Heaney was as fluent in prose as he was sublime in verse, as readers will know from his essays and articles, and his extensive memoir, Stepping Stones, compiled in interview form with the poet Dennis O’Driscoll. Yet the style in the letters, many of them obviously composed at breakneck speed, is astonishing in its quality and unflagging grace. As one of his correspondents said of Heaney: “He makes the simplest words shine.” Despite occasional asperities, his generosity and enthusiasm for the work of others are remarkable. Here he is writing in 2006 to Ted Hughes’s widow, Carol, about the poet’s posthumous Selected Translations – and note the beautifully sustained oceanic metaphor: “The delights are dolphin-like, the mighty talent rising again and showing his back above the elements … I got [the book] and swam in and out of the different coves and caves, safe havens (few) and strange strands. A strong sense of being lifted on the tide of it all.”

more here.

Jennifer Szalai at the New York Times:

Witold Szablowski describes a number of surprising dishes in his entertaining yet unnerving new book, “What’s Cooking in the Kremlin,” which explores the last century of Russian history through its food. But none is as surreal as the recipe for one of Lenin’s favorites. The instructions for making his “scrambled eggs using three eggs” orders you to break the eggs but not to beat them. What Lenin called “scrambled eggs” were actually fried eggs, with their yolks and whites intact — not scrambled at all.

Szablowski’s previous books include “How to Feed a Dictator” and “Dancing Bears”; as a Polish journalist born in 1980, he doesn’t have much nostalgia for the Soviet Union, though he has spent considerable time talking to people who do. The chapter about Lenin is mostly narrated by a Moscow tour guide who speaks wistfully of what might have happened if Lenin’s “dreams had come true.”

more here.

Enigmas

You asked me what the lobster is weaving there with his
…. golden feet?
I reply, the ocean knows this.
You say, what is the ascidia waiting for in its transparent bell?
…. What is it waiting for?
I tell you it is waiting for time, like you.
You ask me whom the Macrocystis hugs in its arms?
Study, study it, at a certain hour, in a certain sea I know.
You question me about the wicked tusk of the narwhal, and I
…. reply by describing
how the sea unicorn with the harpoon in it dies.
You inquire about the kingfisher’s feathers,
which tremble in the pure springs of the southern tide?
Or you’ve found in the cards a new question touching on the
…. crystal architecture
of the sea anemone, and you’ll deal that to me now?
You want to understand the electric Nature of the ocean spines?
…. The armored stalactite that breaks as it walks?
…. The hook of the angler fish, the music stretched out in the
…. deep places like a thread in the water?

I want to tell you the ocean knows this, that life in its
…. jewel boxes
is endless as the sand, impossible to count, pure,
and among the blood-colored grapes time has made the petal
hard and shiny, made the jellyfish full of light
and untied its knot, letting its musical threads fall
from a horn of plenty made of infinite mother-of-pearl.

Read more »

Pia Malaney over at INET:

In markets hungry for the next big breakthrough the latest generation of Artificial Intelligence (AI) technologies has emerged as a potentially revolutionary force, offering a wide array of transformative benefits to humanity. With capabilities in processing data, making predictions, and automating tasks that would once have seemed like science fiction, AI is already altering the ways we live, work, and interact.

What does it mean for a doctor in an underserved area with limited resources to have access to AI systems that facilitate diagnoses based on symptoms and streamline care recommendations? For surgeons to have AI analyze a brain tumor in real-time so that they can decide how much to remove? Big data is already playing a significant role in drug discovery and development; researchers in many areas of academia, including economics, find analysis simplified and expedited.

There is increasing evidence that we are already seeing transformative changes in industries ranging from healthcare to finance. As AI can personalize cancer treatments, identify and diagnose tumors mid-surgery, and rapidly increase the discovery of new molecules that form the basis of drug discovery, its lifesaving impacts are already being felt. In financial markets, it is being used to drive data analytics, data retrieval, predictions, and forecasting. Innovation, often spearheaded by AI and machine learning, has given rise to new products, services, and business models. In education, the possibility of tailoring a curriculum to the needs and pace of each individual student could perhaps transform learning.

Even areas most associated with human creativity are tapping into the productivity benefits of AI.

More here.

Fred Block in Dissent:

In 1980, Margaret Thatcher made her fateful statement that “there is no alternative” to the free market economics that she claimed would revitalize the UK economy. While her policies did not produce the promised results, it remains true that in most places, advocates of more egalitarian and inclusive public policies have been unable to win national office for more than a single consecutive election cycle. Despite frequent claims of its imminent demise, neoliberalism still exerts considerable power in the global economy.

Why is it that efforts to generate broad, durable majority support for egalitarian economic policies have so far failed? Part of the explanation is that advocates of alternative economic policies have continued to operate within the confines of existing economic theories. For the most part, the core analytic framework for economists on the left has not really changed since the 1930s and ’40s.

This is a problem because the economy has changed radically. We need a new paradigm to make sense of our current economy—and to offer a persuasive policy agenda that gives those at the local level the resources and mechanisms they need to shape what they consume and produce.

More here.

Edd Gent in Singularity Hub:

Our ability to manipulate the genes of living organisms has expanded dramatically in recent years. Now, researchers are a step closer to building genomes from scratch after unveiling a strain of yeast with more than 50 percent synthetic DNA.

Since 2006, an international consortium of researchers called the Synthetic Yeast Genome Project has been attempting to rewrite the entire genome of brewer’s yeast. The organism is an attractive target because it’s a eukaryote like us, and it’s also widely used in the biotechnology industry to produce biofuels, pharmaceuticals, and other high-value chemicals.

While researchers have previously rewritten the genomes of viruses and bacteria, yeast is more challenging because its DNA is split across 16 chromosomes. To speed up progress, the research groups involved each focused on rewriting a different chromosome, before trying to combine them. The team has now successfully synthesized new versions of all 16 chromosomes and created an entirely novel chromosome. In a series of papers in Cell and Cell Genomics, the team also reports the successful combination of seven of these synthetic chromosomes, plus a fragment of another, in a single cell. Altogether, they account for more than 50 percent of the cell’s DNA.

More here.

Tim Sahay interviews Guy Laron in Polycrisis:

TIM SAHAY: Bibi Netenyahu is Israel’s longest serving prime minister, surviving many corruption scandals and public protests. In a tweet you said: “the Bibi doctrine has collapsed: it created a Hamas monster, Apartheid in the West Bank, and a hollow state. But he’s not letting go of his efforts to create a personalist dictatorship.” What is the Netanyahu doctrine? What are its bases of domestic support?

GUY LARON: It started in 2009, when Netanyahu came back to power. Nobody then thought that he would be in power this long. The starting point of the Bibi doctrine is neoliberalism. From that you can derive all other aspects of his policy. The doctrine is upheld by his domestic coalition. That is where his foreign policy begins. What he cares about is getting the support of two demographically ascending sectors of Israel’s society: the ultra-Orthodox and the settlers in the West Bank.

The ultra-Orthodox are not that important for his foreign policy, but they are important for his domestic policy. While the rest of society suffers cuts in spending for public health, public education, and public transport, the ultra-Orthodox are exempt from cuts.

Next is support for settlers in the West Bank. It’s an open secret that there is a welfare state in Israel, which exists only in the West Bank, and only for Jews. Each time Netanyahu wrote new legislation—to make the state smaller, the budget smaller, the taxes lighter—parties representing the ultra-Orthodox and the settlers supported him. In everything he does, then, Netanyahu needs to show settlers in the West Bank that he is meeting their needs.

This is where Hamas comes in.

More here.

Jamie Ducharme in Time Magazine:

It’s unusual for a medication to become a household name; even more uncommon for its branding to become, like Advil, shorthand for an entire class of products; and rarest of all, for it to change not just U.S. medicine, but U.S. culture. Ozempic has done all three.

Approved in 2017 as a type 2 diabetes medication, Ozempic has largely made its name—and a fortune for its manufacturer, Novo Nordisk—as a weight-loss aid. Novo Nordisk knew early on that diabetes patients often lost weight on the drug, but even company executives couldn’t have guessed how widely it would eventually take off as both an off-label anti-obesity treatment and a vanity-driven status symbol for those simply looking to shed a few pounds. Its runaway success mirrors that of similar medications, including Eli Lilly’s Mounjaro and Wegovy, another Novo Nordisk product and the only one in the trio technically approved for weight loss. Prescriptions for all of them are flying off the pad at an eye-popping rate. Novo Nordisk sold around $14 billion of its various diabetes and obesity drugs in the first half of 2023, and Eli Lilly sold almost $1 billion worth of Mounjaro in a single quarter this year.

More here.

Justin Smith-Ruiu in his Substack Newsletter:

We are coming up the seventh anniversary of my grandfather-in-law’s death. Traditionally, in the Orthodox church, this occasion would be marked by a ritual that involves digging up the bones of the deceased, washing them white and clean, and then reburying them forever. In the period prior to that significant anniversary, there is ongoing exchange, both ritual and spontaneous, with the dead. Whenever food or drink is accidentally spilled from the table, it is said to be shared with the dead. The candles lit for the dead outside of churches are another effective way of initiating exchange. Food, fire, and prayer continue to pass across the boundary that death has made impermeable to ordinary speech and action.

It was only when my father died in 2016 that this deep truth of human existence hit me: there are two basic categories of people, the living and the dead, and the members of both categories are equally people. Some people are dead people, in other words.

More here.

Viren Jain in Nature:

Can a computer be programmed to simulate a brain? It’s a question mathematicians, theoreticians and experimentalists have long been asking — whether spurred by a desire to create artificial intelligence (AI) or by the idea that a complex system such as the brain can be understood only when mathematics or a computer can reproduce its behaviour. To try to answer it, investigators have been developing simplified models of brain neural networks since the 1940s¹. In fact, today’s explosion in machine learning can be traced back to early work inspired by biological systems.

However, the fruits of these efforts are now enabling investigators to ask a slightly different question: could machine learning be used to build computational models that simulate the activity of brains?

More here.

Daniel Trilling in The Guardian:

Here’s a question for you: since the last general election, has the British government been tough or soft on immigration? Depending on your political inclination, the answer might seem obvious – but the reality is more complicated. On the one hand, the Johnson and Sunak governments have brought an end to EU free movement and promised to deport unwanted asylum seekers to Rwanda. On the other, net migration – the difference between the number of people coming to live in the UK and the number of people leaving – reached a record high of more than 600,000 last year.

Depending on your political inclination, this might seem like typical Tory hypocrisy, but the distinguished migration scholar Hein de Haas says it’s a contradiction that runs through governments across the west, no matter who is in charge. Since the second world war, according to a long-term study of data from 45 countries by de Haas and colleagues, immigration policies have tended to become more liberal. At the same time, border defences – in the form of walls and surveillance, or crackdowns on people-smuggling – have gone up. Between 2012 and 2022, for instance, the budget of the EU border agency Frontex rose from €85m to €754m.

The paradox arises, argues de Haas, because governments in the west – committed, as they are, to forms of economic liberalism – are constantly trying to balance three competing demands.

More here.

Jared Marcel Pollen at Poetry Magazine:

Tranströmer has been praised for the apparent effortlessness of his craft. The poet and critic David Orr writes, “The typical Tranströmer poem is an exercise in sophisticated simplicity, in which relatively spare language acquires remarkable depth, and every word seems measured to the millimeter.” I think of his poetry as being like a Kagan couch, its upholstery fixed with a single staple, or a Newtonian bridge that needs no nails and is held together by the elegance of its stress equations. It is free of any superfluous furniture—“Truth doesn’t need any furniture,” Tranströmer writes in “Preludes.”

But this risks making Tranströmer sound like a Swedish minimalist. Far from it: the poems gathered in this collection—spanning 50 years—are remarkably varied, incorporating prose poems, long lines, and haiku. They move easily from the idyll to the suburb, the cloudscape to the metro station, the nave to the waiting room, yet all bear what his friend Robert Bly—whose early translations were partly responsible for introducing Tranströmer’s work to English readers in the 1970s—described as his “strange genius for the image” and a “mystery and surprise [that] never fade, even on many readings.”

more here.

Ed Simon at The Millions:

More shadows than men, really; just silhouettes, might as well be smudges on the lens. Hard to notice at first, the two undifferentiated figures in the lower left-hand of the picture, at the corner of the Boulevard du Temple. A bootblack squats down and shines the shoes of a man contrapasso above him; impossible to tell what they’re wearing or what they look like. Obviously no way to ascertain their names or professions. At first they’re hard to recognize as people, these whispers of a figure joined together, eternally preserved by silver-plated copper and mercury vapor; they’re insignificant next to the buildings, elegant Beaux-Arts shops and theaters, wrought iron railings along the streets and chimneys on their mansard roofs. Based on an analysis of the light, Louis Daguerre set up his camera around eight in the morning; leaves are still on trees, so it’s not winter, but otherwise it’s hard to tell what season it is that Paris day in 1838. Whatever their names, it was by accident that they became the first two humans to be photographed.

more here.