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How Teddy Bear Got Its Name

By Shlomo Maital

Did you ever wonder how the teddy bear got its name?   The answer: President Theodore Roosevelt.

   Here’s the story.

     In 1902, President Roosevelt was invited by Mississippi Governor Andrew H. Longino to go on a bear hunt. After a long day, Roosevelt saw no bears and retired to sleep. But a group of Roosevelt’s assistants cornered, clubbed, and tied an American black bear to a tree after a long exhausting chase with dogs.

     They called Roosevelt to the site and said that he should shoot it.  He refused to shoot the bear himself, saying it was unsportsmanlike, but said that the bear be killed to put it out of its misery (the bear was way underweight and scraggly).

     Clifford Berryman did a cartoon on the incident in The Washington Post on November 16, 1902.     Later issues of that and other Berryman cartoons made the bear smaller and cuter than it really was. Today, we would say that cartoon went ‘viral’.

     Morris Michtom saw the drawing of Roosevelt and created a tiny soft bear cub and put it in the shop window with a sign “Teddy’s bear,” after Teddy Roosevelt gave his permission to use his name.   The toys were a huge success.   As a result Michtom founded the Ideal Novelty and Toy Co. and became wealthy.

   A BBC program called “Witness” told this story recently.

 

 

 

Blue Collars Lose Ground – Don’t Blame Trade

By Shlomo Maital

 

     Led by the Trump Administration in the US, worldwide there is a counter-revolution against globalization. Right wing governments are being elected in Hungary, Italy, Austria, partly in Germany, and elsewhere, reacting against the ravages of globalization – particularly, the claim that blue collar workers are being scalped by it – by migrants (free flow of labor) and by trade (free flow of goods).

     America, which invented this amazing system that made many emerging economies wealthy (East Asia, primarily) now leads the charge against it.

     And this whole counter-revolution is based on a falsehood. Don’t blame trade. Blue collar woes have another primary cause, according to Harvard University Professor Elhanan Helpman, in his new book Globalization and Inequality. It was not primarily free trade (globalization) that caused the large gap between blue collar and white collar wages.

     Earlier, in 2016, Helpman published an NBER working paper * showing this (typically understated, as academic researchers are wont to do):

       Trade played an appreciable role in increasing wage inequality, but its cumulative effect has      

       been modest, …globalization does not explain the preponderance of the rise in wage inequality

            within countries.

   What, then, does explain it? Technology and productivity.

     Studies show that the premium for a college education (i.e. skilled workers) was 63%.   The blue collar/white collar wage gap results from basic supply and demand factors, “…the dominant cause was an increase in the relative demand for skilled workers”.

   OK – so who is to blame?   American political leadership, for failing to find ways to upgrade the skills of blue-collar workers, especially in America’s failing and failed educational system.   And, as New York Times op-ed columnist David Brooks has noted – the educated elite simply ignored the plight of the non-educated elite – and the price they pay is the election of Donald Trump.

* Elhanan Helpman. “Globalization and wage inequality”.   NBER working paper 22944, Dec. 2016.

CRISPR Will Change Our Lives

By Shlomo Maital

   Some time ago, I wrote about a technology known as Blockchain that will undoubtedly change our lives – and has already. Blockchain is simply a way to record transactions, that is secure, unhackable and ‘disintermediated’ (no need for banks or other financial middlemen). It is now widely used to create digital money.

   Now comes CRISPR. It stands for Clustered Regularly Interspaced Short Palindromic Repeats.     What is it? Simply, a way of editing genes – like we edit blogs or emails. Erase this group of words. Replace it with another, better one.   In the case of DNA: “Erase” (snip away) this (bad) piece of DNA, a gene that causes problems – and replace with a ‘good’ gene, that will not cause disease or problems.

   A palindrome is a word that reads the same forward and backward.   E.g. “civic”. So pieces of DNA are inserted into longer pieces, such that the inserted pieces read the same forward or backward, so it doesn’t matter which way they are inserted. The method originated with studying how viruses ‘snip’ DNA – and using viruses to do the same in constructive way.

     We now know the genetic causes of many diseases. But until now we have not had the ability to repair bad genes. Now CRISPR makes it possible. This will create an entirely new branch of medicine, immunotherapy, in which gene therapy is used to both treat illness, when identified, and mainly, to prevent it — an individual can now have his or her genome analyzed, and potential ‘bad’ genes identified. No point in doing this, so far, because there was no real way to ‘edit’ bad genes. Now, with CRISPR, there is.

     I would like to mention one of the scientists responsible for CRISPR, the young MIT scientist Feng Zhang. He was born in China and is only 36; he does research at the famous Broad (pronounced Brode) institute in Cambridge, MA. Increasingly bright foreign students are encountering US visa problems and are going elsewhere, e.g. Canada. It is America’s loss.

Blog entries written by Prof. Shlomo Maital

Shlomo Maital
June 2018
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