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🔗 United States 🔗 Finance & Investment 🔗 Economics 🔗 Business

The Panic of 1907 – also known as the 1907 Bankers' Panic or Knickerbocker Crisis – was a financial crisis that took place in the United States over a three-week period starting in mid-October, when the New York Stock Exchange fell almost 50% from its peak the previous year. Panic occurred, as this was during a time of economic recession, and there were numerous runs on banks and trust companies. The 1907 panic eventually spread throughout the nation when many state and local banks and businesses entered bankruptcy. Primary causes of the run included a retraction of market liquidity by a number of New York City banks and a loss of confidence among depositors, exacerbated by unregulated side bets at bucket shops.

The panic was triggered by the failed attempt in October 1907 to corner the market on stock of the United Copper Company. When this bid failed, banks that had lent money to the cornering scheme suffered runs that later spread to affiliated banks and trusts, leading a week later to the downfall of the Knickerbocker Trust Company—New York City's third-largest trust. The collapse of the Knickerbocker spread fear throughout the city's trusts as regional banks withdrew reserves from New York City banks. Panic extended across the nation as vast numbers of people withdrew deposits from their regional banks. It is the 9th largest decline in U.S. stock market history.

The panic might have deepened if not for the intervention of financier J. P. Morgan, who pledged large sums of his own money, and convinced other New York bankers to do the same, to shore up the banking system. This highlighted the impotence of the nation's Independent Treasury system, which managed the nation's money supply yet was unable to inject liquidity back into the market. By November, the financial contagion had largely ended, only to be replaced by a further crisis. This was due to the heavy borrowing of a large brokerage firm that used the stock of Tennessee Coal, Iron and Railroad Company (TC&I) as collateral. Collapse of TC&I's stock price was averted by an emergency takeover by Morgan's U.S. Steel Corporation—a move approved by anti-monopolist president Theodore Roosevelt. The following year, Senator Nelson W. Aldrich, a leading Republican, established and chaired a commission to investigate the crisis and propose future solutions, leading to the creation of the Federal Reserve System.

🔗 Physics

The quantum Zeno effect (also known as the Turing paradox) is a feature of quantum-mechanical systems allowing a particle's time evolution to be slowed down by measuring it frequently enough with respect to some chosen measurement setting.

Sometimes this effect is interpreted as "a system cannot change while you are watching it". One can "freeze" the evolution of the system by measuring it frequently enough in its known initial state. The meaning of the term has since expanded, leading to a more technical definition, in which time evolution can be suppressed not only by measurement: the quantum Zeno effect is the suppression of unitary time evolution in quantum systems provided by a variety of sources: measurement, interactions with the environment, stochastic fields, among other factors. As an outgrowth of study of the quantum Zeno effect, it has become clear that applying a series of sufficiently strong and fast pulses with appropriate symmetry can also decouple a system from its decohering environment.

The name comes from Zeno's arrow paradox, which states that because an arrow in flight is not seen to move during any single instant, it cannot possibly be moving at all. The first rigorous and general derivation of the quantum Zeno effect was presented in 1974 by Degasperis, Fonda, and Ghirardi, although it had previously been described by Alan Turing. The comparison with Zeno's paradox is due to a 1977 article by George Sudarshan and Baidyanath Misra.

According to the reduction postulate, each measurement causes the wavefunction to collapse to an eigenstate of the measurement basis. In the context of this effect, an observation can simply be the absorption of a particle, without the need of an observer in any conventional sense. However, there is controversy over the interpretation of the effect, sometimes referred to as the "measurement problem" in traversing the interface between microscopic and macroscopic objects.

Another crucial problem related to the effect is strictly connected to the time–energy indeterminacy relation (part of the indeterminacy principle). If one wants to make the measurement process more and more frequent, one has to correspondingly decrease the time duration of the measurement itself. But the request that the measurement last only a very short time implies that the energy spread of the state in which reduction occurs becomes increasingly large. However, the deviations from the exponential decay law for small times is crucially related to the inverse of the energy spread, so that the region in which the deviations are appreciable shrinks when one makes the measurement process duration shorter and shorter. An explicit evaluation of these two competing requests shows that it is inappropriate, without taking into account this basic fact, to deal with the actual occurrence and emergence of Zeno's effect.

Closely related (and sometimes not distinguished from the quantum Zeno effect) is the watchdog effect, in which the time evolution of a system is affected by its continuous coupling to the environment.

🔗 Computing 🔗 Computing/Computer hardware

The transputer is a series of pioneering microprocessors from the 1980s, featuring integrated memory and serial communication links, intended for parallel computing. They were designed and produced by Inmos, a semiconductor company based in Bristol, United Kingdom.

For some time in the late 1980s, many considered the transputer to be the next great design for the future of computing. While Inmos and the transputer did not achieve this expectation, the transputer architecture was highly influential in provoking new ideas in computer architecture, several of which have re-emerged in different forms in modern systems.

🔗 European history

A whipping boy was a boy educated alongside a prince (or boy monarch) in early modern Europe, who received corporal punishment for the prince's transgressions in his presence. The prince was not punished himself because his royal status exceeded that of his tutor; seeing a friend punished would provide an equivalent motivation not to repeat the offence. An archaic proverb which captures a similar idea is "to beat a dog before a lion." Whipping was a common punishment of tutors at that time. There is little contemporary evidence for the existence of whipping boys, and evidence that some princes were indeed whipped by their tutors, although Nicholas Orme suggests that nobles might have been beaten less often than other pupils. Some historians regard whipping boys as entirely mythical; others suggest they applied only in the case of a boy king, protected by divine right, and not to mere princes.

In Renaissance humanism, Erasmus' treatises "The Education of a Christian Prince" (1516) and "Declamatio de pueris statim ac liberaliter instituendis" (1530) mention the inappropriateness of physical chastisement of princes, but do not mention proxy punishment. Hartley Coleridge wrote in 1852, "to be flogged by proxy was the exclusive privilege of royal blood. ... It was much coveted for the children of the poorer gentry, as the first step in the ladder of preferment." John Gough Nichols wrote in 1857, "the whole matter is somewhat legendary, and though certain vicarious or rather minatory punishments may have been occasionally adopted, it does not seem likely that any one individual among the King's schoolfellows should have been uniformly selected, whether he were in fault or not, as the victim or scape-goat of the royal misdemeanours". In current English, a "whipping boy" is a metaphor which may have a similar meaning to scapegoat, fall guy, or sacrificial lamb; alternatively it may mean a perennial loser or a victim of group bullying.

🔗 Games

Quantum tic-tac-toe is a "quantum generalization" of tic-tac-toe in which the players' moves are "superpositions" of plays in the classical game. The game was invented by Allan Goff of Novatia Labs, who describes it as "a way of introducing quantum physics without mathematics", and offering "a conceptual foundation for understanding the meaning of quantum mechanics".

🔗 Military history 🔗 Military history/World War II 🔗 Scottish Islands

Operation Vegetarian was a British military plan in 1942 to disseminate linseed cakes infected with anthrax spores onto the fields of Germany. These cakes would have been eaten by the cattle, which would then be consumed by the civilian population, causing the deaths of millions of German citizens. Furthermore, it would have wiped out the majority of Germany's cattle, creating a massive food shortage for the rest of the population that remained uninfected. Preparations were not complete until early 1944. Operation Vegetarian was only to be used in the event of a German anthrax attack on the United Kingdom.

The cakes themselves were tested on Gruinard Island, just off the coast of Scotland. Because of the widespread contamination from the anthrax spores, the land remained quarantined until 1990. The five million cakes made to be disseminated in Germany were eventually destroyed in an incinerator shortly after the end of World War II.

In his novel The Impossible Dead (2011), author Ian Rankin mentions the clandestine events surrounding the removal of contaminated soils from Guinard Island by a protest group, the Dark Harvest Commando, and the island's removal from maps by the British Government. The island also features as the principal setting for the 1985 novel El año de gracia, by Cristina Fernández Cubas, in which the protagonist spends a winter shipwrecked on the island.

🔗 Economics 🔗 Business 🔗 Politics 🔗 Socialism 🔗 Sociology

Wage slavery is a term describing a situation in which a person's livelihood depends on wages or a salary, especially when the dependence is total and immediate. It has been used to criticise exploitation of labour and social stratification, with the former seen primarily as unequal bargaining power between labour and capital (particularly when workers are paid comparatively low wages, e.g. in sweatshops) and the latter as a lack of workers' self-management, fulfilling job choices and leisure in an economy. The criticism of social stratification covers a wider range of employment choices bound by the pressures of a hierarchical society to perform otherwise unfulfilling work that deprives humans of their "species character" not only under threat of starvation or poverty, but also of social stigma and status diminution. Historically, some socialist organisations and activists have espoused workers' self-management or worker cooperatives as possible alternatives to wage labour.

Similarities between wage labour and slavery were noted as early as Cicero in Ancient Rome, such as in De Officiis. With the advent of the Industrial Revolution, thinkers such as Pierre-Joseph Proudhon and Karl Marx elaborated the comparison between wage labour and slavery, while Luddites emphasised the dehumanisation brought about by machines. The introduction of wage labour in 18th-century Britain was met with resistance, giving rise to the principles of syndicalism. Before the American Civil War, Southern defenders of African American slavery invoked the concept of wage slavery to favourably compare the condition of their slaves to workers in the North. The United States abolished slavery after the Civil War, but labour union activists found the metaphor useful – according to historian Lawrence Glickman, in the Gilded Age "[r]eferences abounded in the labour press, and it is hard to find a speech by a labour leader without the phrase".

🔗 Urban studies and planning 🔗 Horticulture and Gardening

A ha-ha (French: hâ-hâ or saut de loup) is a recessed landscape design element that creates a vertical barrier while preserving an uninterrupted view of the landscape beyond.

The design includes a turfed incline that slopes downward to a sharply vertical face (typically a masonry retaining wall). Ha-has are used in landscape design to prevent access to a garden, for example by grazing livestock, without obstructing views. In security design, the element is used to deter vehicular access to a site while minimizing visual obstruction.

The name "ha-ha" is thought to have stemmed from the exclamations of surprise by those coming across them, as the walls were intentionally designed so as not to be visible on the plane of the landscape.

🔗 United States 🔗 Film 🔗 Film/American cinema 🔗 United States/Film - American cinema 🔗 Fictional characters 🔗 Animation 🔗 Disney 🔗 United States/Animation - American animation 🔗 Film/Animated films 🔗 Animation/Animated films 🔗 Animation/American animation

Oswald the Lucky Rabbit (also known as Oswald the Rabbit, Oswald Rabbit, and Ozzie) is an animated cartoon character created in 1927 by Walt Disney and Ub Iwerks for Universal Pictures. He starred in several animated short films released to theaters from 1927 to 1938. Twenty-seven animated Oswald shorts were produced at the Walt Disney Studio. After Universal took control of Oswald's character in 1928, Disney created Mickey Mouse as a replacement to Oswald.

In 2003, Buena Vista Games pitched a concept for an Oswald-themed video game to then-Disney President and future-CEO Bob Iger, who became committed to acquiring the rights to Oswald. In 2006, The Walt Disney Company acquired the trademark of Oswald (with NBCUniversal effectively trading Oswald for the services of Al Michaels as play-by-play announcer on NBC Sunday Night Football).

Oswald returned in Disney's 2010 video game, Epic Mickey. The game's metafiction plot parallels Oswald's real-world history, dealing with the character's feelings of abandonment by Disney and envy toward Mickey Mouse. He has since appeared in Disney theme parks and comic books, as well as two follow-up games, Epic Mickey 2: The Power of Two and Epic Mickey: Power of Illusion. Oswald made his first appearance in an animated production in 85 years through his cameo appearance in the 2013 animated short Get a Horse! He was the subject of the 2015 feature film Walt Before Mickey. Oswald also appears as a townsperson in Disney Infinity 2.0. In 2022, Oswald appeared in a new short produced by Disney. He also has a cameo appearance in Once Upon a Studio.

In January 2023, the copyrights on several of the original Oswald shorts, as well as the character, expired. Those films and the character are now in the public domain. In 2024, it was announced that the character will appear in Oswald: Down the Rabbit Hole, an upcoming horror film directed by Lilton Stewart III, starring Ernie Hudson as the titular character.

🔗 Books

"Uncleftish Beholding" (1989) is a short text by Poul Anderson designed to illustrate what English might look like without its large number of loanwords from languages such as French, Greek, and Latin. Written in a form of "Anglish," the work explains atomic theory using Germanic words almost exclusively and coining new words when necessary; many of these new words have cognates in modern German, an important scientific language in its own right. The title phrase uncleftish beholding calques "atomic theory."

To illustrate, the text begins:

For most of its being, mankind did not know what things are made of, but could only guess. With the growth of worldken, we began to learn, and today we have a beholding of stuff and work that watching bears out, both in the workstead and in daily life.

It goes on to define firststuffs (chemical elements), such as waterstuff (hydrogen), sourstuff (oxygen), and ymirstuff (uranium), as well as bulkbits (molecules), bindings (compounds), and several other terms important to uncleftish worldken (atomic science). Wasserstoff and Sauerstoff are the modern German words for hydrogen and oxygen, and in Dutch the modern equivalents are waterstof and zuurstof. Sunstuff refers to helium, which derives from ἥλιος, the Ancient Greek word for "sun." Ymirstuff references Ymir, a giant in Norse mythology similar to Uranus in Greek mythology.

The vocabulary used in Uncleftish Beholding does not completely derive from Anglo-Saxon. Around, from Old French reond (Modern French rond), completely displaced Old English ymbe (cognate to German um) and left no "native" English word for this concept. The text also contains the French-derived words rest, ordinary and sort.

The text gained increased exposure and popularity after being circulated around the Internet, and has served as inspiration for some inventors of Germanic English conlangs. Douglas Hofstadter, in discussing the piece in his book Le Ton beau de Marot, jocularly refers to the use of only Germanic roots for scientific pieces as "Ander-Saxon."