Daily Archives: February 17, 2011

NASA FY 2012 Budget Request


SPACE WATCH
illustrationNASA – In FY 2012, NASA will strengthen the Nation’s human space flight activities by transitioning from an engineering focus on building the ISS to an emphasis on scientific research and technology development—essential building blocks for a long-term human space exploration program. The ISS is the centerpiece of NASA’s planning for extended space missions, as it serves as a research laboratory and technology test bed for basic and advanced studies in life sciences, human health, material sciences, Earth science, and fundamental physics. A new independent non-profit organization is being established to coordinate and oversee all of these research and technology efforts.

Jet engineTechnologies conceived by the world’s greatest innovators will be tested in the space environment, proving their potential value in advancing exploration, and sparking ideas for products and services that benefit society here on Earth. These technologies will spur economic growth as new markets are developed, creating new jobs, and expanding international trade. Advances in scientific research, successful solutions to engineering challenges, and new technologies will help ignite student interest in science, technology, engineering, and mathematics (STEM) academic disciplines and careers. Industry and government employers will increase demand for skilled workers as the U.S. repositions itself for technological leadership on a global scale. more> http://tinyurl.com/yeedvw8

Revolution, reform and the law of unintended consequences


TulipsBy Christopher Whalen – A paper to be published by the Federal Reserve Bank of New York (pdf) notes that the bankruptcy reform legislation had the effect of lowering default rates on credit cards and other types of unsecured debt, but boosted default rates on supposedly secured subprime mortgages.

Foreclosed LA house“The banks negotiated a means by which they collect unsecured credit ahead of first mortgages and all mortgage losses go to the federal government,” notes a veteran attorney. “These losses will be funded by US taxpayers because the banks duped unsuspecting conservatives and liberals in Congress into thinking it is evil to let Bankruptcy Judges decide whether debtors can afford to pay their first mortgages.”

Americans must start to subject political claims regarding reform to the same level of scrutiny that state court judges are giving to bank foreclosure petitions. As the people of Egypt will confirm, gaining and maintaining freedom is hard work. more> http://tinyurl.com/4mm5zzv

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The Urge to Innovate


David GreenfieldBy David Greenfield – To make innovation easier, the barriers of complexity in technology need to be reduced to allow experts in a given domain to innovate using technologies with which they are likely not experts. This type of simplification is a task that only the engineers who are experts in a given technology can likely deliver. But to do that, they have to move beyond their love of complexity and learn to simplify by creating user-friendly interfaces with which to leverage their complex technologies. (For examples of engineers actually doing this, see Design News‘ Senior Editor Chuck Murray’s recent article on how domain experts could take the role of expert engineers in some cases.)

Dr. James Truchard: “Specialization of engineers makes it harder to innovate. The problem is that more and more engineers are being urged to specialize. We need to step back and take a systems view as well.”

Professor Edward Lee: “there is a similar flaw in the way academics value innovative work. We put a lot of emphasis on narrow fields that are difficult to get into because of high complexity developed over time by experts in those fields. Academics tend to disparage broader focus activities things like implementation and system building.” more> http://tinyurl.com/652nfbq

A strong ECB president can make a difference


EurotowerBy Marc Jones – The fevered speculation over who will succeed Jean-Claude Trichet as ECB president when his eight-year term ends in October seems excessive. After all, the ECB’s decision-making process is designed to stress consensus and limit the power of any one individual.

ECB decisions are made by the bank’s Governing Council, which consist of 23 policymakers: the six-member Executive Board plus the chiefs of the euro zone‘s 17 national central banks. They meet under the principle of one person, one vote. more> http://tinyurl.com/4mgauas

Senate to vote on patent reform after break


By Diane Bartz and Thomas Ferraro – The Senate aims to begin consideration next month of a bipartisan bill to revamp the U.S. patent system and reduce the likelihood of what critics see as excessive damage awards, Senate Majority Leader Harry Reid said on Wednesday (2/16/11).

The bill would give judges a major role in determining how important a particular patent is to a product, so that infringing minor patents would not lead to huge damages.

The bill also would give a patent to the first inventor to file, rather than the first to invent, making the patent application process easier for companies who apply for patents in multiple countries. more> http://tinyurl.com/638ovpn

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