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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.

🔗 Cognitive science

ACT-R (pronounced /ˌækt ˈɑr/; short for "Adaptive Control of Thought—Rational") is a cognitive architecture mainly developed by John Robert Anderson and Christian Lebiere at Carnegie Mellon University. Like any cognitive architecture, ACT-R aims to define the basic and irreducible cognitive and perceptual operations that enable the human mind. In theory, each task that humans can perform should consist of a series of these discrete operations.

Most of the ACT-R's basic assumptions are also inspired by the progress of cognitive neuroscience, and ACT-R can be seen and described as a way of specifying how the brain itself is organized in a way that enables individual processing modules to produce cognition.

🔗 United States/U.S. Government 🔗 United States 🔗 Human rights 🔗 Military history 🔗 Military history/North American military history 🔗 Military history/United States military history 🔗 Medicine 🔗 Skepticism 🔗 Psychology 🔗 Military history/Intelligence 🔗 Alternative Views 🔗 Psychoactive and Recreational Drugs 🔗 Drug Policy 🔗 Science Policy

Project MKUltra (or MK-Ultra), also called the CIA mind control program, is the code name given to a program of experiments on human subjects that were designed and undertaken by the U.S. Central Intelligence Agency, some of which were illegal. Experiments on humans were intended to identify and develop drugs and procedures to be used in interrogations in order to weaken the individual and force confessions through mind control. The project was organized through the Office of Scientific Intelligence of the CIA and coordinated with the United States Army Biological Warfare Laboratories. Code names for drug-related experiments were Project Bluebird and Project Artichoke.

The operation was officially sanctioned in 1953, reduced in scope in 1964 and further curtailed in 1967. It was officially halted in 1973. The program engaged in many illegal activities, including the use of U.S. and Canadian citizens as its unwitting test subjects, which led to controversy regarding its legitimacy. MKUltra used numerous methods to manipulate its subjects' mental states and brain functions. Techniques included the covert administration of high doses of psychoactive drugs (especially LSD) and other chemicals, electroshocks, hypnosis, sensory deprivation, isolation, verbal and sexual abuse, as well as other forms of torture.

The scope of Project MKUltra was broad, with research undertaken at more than 80 institutions, including colleges and universities, hospitals, prisons, and pharmaceutical companies. The CIA operated using front organizations, although sometimes top officials at these institutions were aware of the CIA's involvement.

Project MKUltra was first brought to public attention in 1975 by the Church Committee of the United States Congress and Gerald Ford's United States President's Commission on CIA activities within the United States (also known as the Rockefeller Commission).

Investigative efforts were hampered by CIA Director Richard Helms' order that all MKUltra files be destroyed in 1973; the Church Committee and Rockefeller Commission investigations relied on the sworn testimony of direct participants and on the relatively small number of documents that survived Helms's destruction order. In 1977, a Freedom of Information Act request uncovered a cache of 20,000 documents relating to project MKUltra which led to Senate hearings later that year. Some surviving information regarding MKUltra was declassified in July 2001. In December 2018, declassified documents included a letter to an unidentified doctor discussing work on six dogs made to run, turn and stop via remote control and brain implants.

🔗 Medicine 🔗 Smithsonian Institution

During the 1940s–1960s, nude photographs were routinely taken of incoming freshmen at elite colleges in the United States, such as the Ivy Leagues and Seven Sisters schools. Purportedly taken to assess the posture and health of the students, the bulk of the photographs were produced by W. H. Sheldon, a psychologist and eugenicist who believed non-white races were intellectually stunted. Sheldon developed a theory that measuring a human body could predict the subject's intelligence, temperament, and moral worth. The inspiration to take mass photos for his research came from the founder of eugenics, Francis Galton, who proposed such a photo archive for the British population.

The institutions that had "posture photo" programs included Harvard, Yale, Princeton, Brown, Vassar, Wellesley, Mount Holyoke, Swarthmore, University of Pennsylvania, Hotchkiss, Syracuse, University of California, University of Wisconsin, Purdue, Brooklyn College, the Oregon Hospital for the Criminally Insane, and others. The years that each institution participated vary. Some schools, such as Harvard and Wellesley, had their own practice of taking posture photos well before Sheldon's involvement, as early as the 1880s.

Most of the photo archives were destroyed voluntarily by the schools in the 1960s and '70s, after ending their posture photo practices. After Sheldon's death in 1977, his personal archive of over 20,000 photos and negatives was acquired by the Smithsonian Institution's National Anthropological Archives. These were never displayed, and could only be viewed by researchers who petitioned the chief archivist. After a write-up in the New York Times Magazine in 1995, the Smithsonian sealed the documents completely, and destroyed the Yale archives upon request.

Some celebrities have mentioned their experiences getting their posture photo taken, including Sylvia Plath, Nora Ephron, Dick Cavett and Judith Martin (the etiquette expert known as Miss Manners). In the 2020s posture photos of the actors James Franciscus and Bill Hinnant resurfaced and were sold on eBay.

🔗 Indigenous peoples of the Americas 🔗 Peru

Quipu (also spelled khipu) are recording devices fashioned from strings historically used by a number of cultures in the region of Andean South America. Knotted strings were used by many other cultures such as the ancient Chinese and native Hawaiians, but such practices should not be confused with the quipu, which refers only to the Andean device.

A quipu usually consisted of cotton or camelid fiber strings. The Inca people used them for collecting data and keeping records, monitoring tax obligations, properly collecting census records, calendrical information, and for military organization. The cords stored numeric and other values encoded as knots, often in a base ten positional system. A quipu could have only a few or thousands of cords. The configuration of the quipus has been "compared to string mops." Archaeological evidence has also shown the use of finely carved wood as a supplemental, and perhaps more sturdy, base to which the color-coded cords would be attached. A relatively small number have survived.

Objects that can be identified unambiguously as quipus first appear in the archaeological record in the first millennium AD. They subsequently played a key part in the administration of the Kingdom of Cusco and later Tawantinsuyu, the empire controlled by the Inca ethnic group, flourishing across the Andes from c. 1100 to 1532 AD. As the region was subsumed under the invading Spanish Empire, the quipu faded from use, to be replaced by European writing and numeral systems. However, in several villages, quipu continued to be important items for the local community, albeit for ritual rather than practical use. It is unclear as to where and how many intact quipus still exist, as many have been stored away in mausoleums.

Quipu is the Spanish spelling and the most common spelling in English. Khipu (pronounced [ˈkʰɪpʊ], plural: khipukuna) is the word for "knot" in Cusco Quechua. In most Quechua varieties, the term is kipu.

🔗 Cats 🔗 Ships 🔗 Rodents

The ship's cat has been a common feature on many trading, exploration, and naval ships dating to ancient times. Cats have been carried on ships for many reasons, most importantly to control rodents. Vermin aboard a ship can cause damage to ropes, woodwork, and more recently, electrical wiring. Also, rodents threaten ships' stores, devour crews' foodstuff, and could cause economic damage to ships' cargo such as grain. They are also a source of disease, which is dangerous for ships that are at sea for long periods of time. Rat fleas are carriers of plague, and rats on ships were believed to be a primary vector of the Black Death.

Cats naturally attack and kill rodents, and their natural ability to adapt to new surroundings made them suitable for service on a ship. In addition, they offer companionship and a sense of home, security and camaraderie to sailors away from home.

🔗 Computing 🔗 Computing/Software 🔗 Linguistics 🔗 Computing/Computer science 🔗 Linguistics/Applied Linguistics

Mark V. Shaney is a synthetic Usenet user whose postings in the net.singles newsgroups were generated by Markov chain techniques, based on text from other postings. The username is a play on the words "Markov chain". Many readers were fooled into thinking that the quirky, sometimes uncannily topical posts were written by a real person.

The system was designed by Rob Pike with coding by Bruce Ellis. Don P. Mitchell wrote the Markov chain code, initially demonstrating it to Pike and Ellis using the Tao Te Ching as a basis. They chose to apply it to the net.singles netnews group.

🔗 Video games 🔗 Visual arts

The Atari Video Music (Model C240) is the earliest commercial electronic music visualizer released. It was manufactured by Atari, Inc., and released in 1977 for $169.95. The system creates an animated visual display that responds to musical input from a Hi-Fi stereo system for the visual entertainment of consumers.

🔗 Business 🔗 Psychology 🔗 Alternative Views 🔗 Education

In the field of psychology, the Dunning–Kruger effect is a cognitive bias in which people assess their cognitive ability as greater than it is. It is related to the cognitive bias of illusory superiority and comes from the inability of people to recognize their lack of ability. Without the self-awareness of metacognition, people cannot objectively evaluate their competence or incompetence.

As described by social psychologists David Dunning and Justin Kruger, the cognitive bias of illusory superiority results from an internal illusion in people of low ability and from an external misperception in people of high ability; that is, "the miscalibration of the incompetent stems from an error about the self, whereas the miscalibration of the highly competent stems from an error about others."

🔗 Biography 🔗 United Kingdom 🔗 Ships

The rescue of Roger Mallinson and Roger Chapman occurred between 29 August and 1 September 1973 after their Vickers Oceanics small submersible Pisces III was trapped on the seabed at a depth of 1,575 ft (480 m), 150 mi (240 km) off Ireland in the Celtic Sea. The 76-hour multinational rescue effort resulted in the deepest sub rescue in history.