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  • Author: Charles W. Calomiris
  • Publication Date: 06-2021
  • Content Type: Journal Article
  • Journal: The Cato Journal
  • Institution: The Cato Institute
  • Abstract: What we use as our medium of exchange is subject to dramatic change over time, and sometimes bank regulation has accelerated such changes. The national banking system, founded in 1863, envisioned the creation of a uniform medium of exchange in the form of national bank notes, which replaced the preexisting system of state bank note issuance. But the creation of the national banking system soon resulted in the diminished importance of bank notes as a medium of exchange. Under the new system, state banks faced a prohibitive tax of 10 percent per year on any notes they issued, and national banks had to maintain collateral at the Treasury for their outstanding national bank notes equal to 111 percent of their outstanding notes, and also had to maintain an additional 5 percent in required government‐​currency (“greenback”) cash reserves on hand. That meant that if a bank wanted to make loans, it had to find an alternative to bank notes as a funding source for those loans. Deposits had been growing in importance leading up to the National Banking Act of 1863, but the act accelerated the growth of deposits markedly, and they became the primary funding vehicle for loans. As Comptroller Eckels remarked in 1896: “And thus it has come about that deposit taking is now the feature, and the issuing of circulating notes but the incident, in national banking, instead of, as in the early history of the system, the note‐​issuing function being the feature and deposit banking but the incident” (Eckels 1896: 565; emphasis added).
  • Topic: Science and Technology, Finance, Banks, Loans
  • Political Geography: Global Focus
  • Author: Jesús Fernández‐​Villaverde
  • Publication Date: 06-2021
  • Content Type: Journal Article
  • Journal: The Cato Journal
  • Institution: The Cato Institute
  • Abstract: The monetary arrangements of societies are the result of the interplay of technology and ideas. Technology determines, for example, which coins can be minted and at what cost. For centuries, minting small‐​denomination coinage was too costly to induce Western European governments to supply enough small change (Sargent and Velde 2002). Only the arrival of steam‐​driven presses fixed this problem (Doty 1998). Simultaneously, ideas about private property and the scope of government determined whether private entrepreneurs were allowed to compete with governments in the supply of small change (Selgin 2008). Technology and ideas about money engage dialectically. Technological advances shape our ideas about money by making new monetary arrangements feasible. Ideas about desirable outcomes direct innovators to develop new technologies.
  • Topic: Economics, Science and Technology, Monetary Policy, Cryptocurrencies
  • Political Geography: Europe, Global Focus
  • Author: Eswar S. Prasad
  • Publication Date: 06-2021
  • Content Type: Journal Article
  • Journal: The Cato Journal
  • Institution: The Cato Institute
  • Abstract: New financial technologies — including those underpinning cryptocurrencies such as bitcoin — herald broader access to the financial system, quicker and more easily verifiable settlement of transactions and payments, and lower transaction costs. Domestic and cross‐​border payment systems are on the threshold of major transformation, with significant gains in speed and lowering of transaction costs on the horizon. The efficiency gains in normal times from having decentralized payment and settlement systems needs to be balanced against their potential technological vulnerabilities and the repercussions of loss of confidence during periods of financial stress.
  • Topic: Science and Technology, Finance, Central Bank, Digital Currency
  • Political Geography: Global Focus
  • Author: Neha Narula
  • Publication Date: 06-2021
  • Content Type: Journal Article
  • Journal: The Cato Journal
  • Institution: The Cato Institute
  • Abstract: We often spend a lot of time talking about the regulatory aspects of what a digital currency might look like, or the economic aspects. But if we take a look at the largest companies, the most influential on our ways of life, they’re tech companies. Technology is incredibly important and influences what we can do with policy and what kinds of functionality we can even enable. So, what I hope to tell you today is a little bit about how I’m seeing the technology development of digital currency.
  • Topic: Development, Science and Technology, Monetary Policy, Digital Currency
  • Political Geography: Global Focus
  • Author: Sergey Boiko
  • Publication Date: 05-2021
  • Content Type: Journal Article
  • Journal: International Affairs: A Russian Journal of World Politics, Diplomacy and International Relations
  • Institution: East View Information Services
  • Abstract: INFORMATION and communication technologies (ICTs) provide humankind with unprecedented opportunities. Mass communication technologies, the Internet of Things, artificial intelligence, cloud computing, blockchain, big data, e-government, digital medicine, and cryptocurrencies have become part and parcel of our life. But at the same time, new ICT achievements bring new threats and challenges – primarily to international peace, security and stability, and the sovereignty and territorial integrity of states. The first international warning about those threats came from the Shanghai Cooperation Organization (SCO). It was issued in the Agreement among the Governments of the SCO Member on Cooperation in the Field of Ensuring International Information Security of June 16, 2009.1 The main threats, the agreement says, are the “development and use of information weapons” and the “preparation and waging of information war.”
  • Topic: Science and Technology, International Security, Communications, Cybersecurity, Cryptocurrencies, Blockchain, Digital Policy, Internet of Things, Information Technology
  • Political Geography: China, Global Focus
  • Author: Gulten Dursun, Hale Butun Bayram
  • Publication Date: 07-2021
  • Content Type: Journal Article
  • Journal: The Rest: Journal of Politics and Development
  • Institution: Centre for Strategic Research and Analysis (CESRAN)
  • Abstract: This paper is concerned with the work experiences of women employees in info- service-based offices as telephone call centres. Call centres have grown rapidly in Turkey in recent years, creating a large number of new jobs. In particular, it is concerned with the question of whether call centre jobs are offering women new opportunities for career progression, or whether a more common bias is taking place in which women are being drawn into highly routinized jobs. The collection of data was carried out sourcing a heterogeneous plurality of instruments. Our research confirms that work processes in call centres are close association of surveillance technologies (technologic panoptican), exploitation and high levels of discipline, highly repetitive and heavily monitored, and that the association with the assembly line and Taylorism have dominated much of the rhetoric on call centres. In addition, we have observed that, the structure of women’s employment in the call centre industry tends to polarise.
  • Topic: Gender Issues, Science and Technology, Labor Issues, Feminism
  • Political Geography: Global Focus
  • Author: Oscar M. Granados, Nicolas De la Pena
  • Publication Date: 03-2021
  • Content Type: Journal Article
  • Journal: Revista Brasileira de Política Internacional (RBPI)
  • Institution: Instituto Brasileiro de Relações Internacionais (IBRI)
  • Abstract: Previous studies have investigated technology’s impact on international affairs, but few have analyzed the effect of artificial intelligence on the international system structure. This study integrates heterogeneous datasets and network science concepts with several power factors and artificial intelligence advances as a methodology to understand the evolution of the international system with a perspective around research, knowledge, innovation, and technology as an endogenous variable. Our findings indicate that the international fitness variable could be considered as a mechanism to interpret the system dynamics, especially when artificial intelligence interacts with different topics of the system. Overall, we provide quantitative evidence of the evolution of artificial intelligence innovations and technological power to identify system structure changes, both in central and peripheral countries.
  • Topic: Science and Technology, Innovation, Artificial Intelligence, Emerging Technology
  • Political Geography: Global Focus
  • Author: Lindsey Andersen
  • Publication Date: 05-2020
  • Content Type: Journal Article
  • Journal: Journal of Public and International Affairs (JPIA)
  • Institution: School of Public and International Affairs, Princeton University
  • Abstract: Artificial intelligence (AI) will soon be at the center of the international development field. Amidst this transformation, there is insufficient consideration from the international development sector and the growing AI and ethics field of the unique ethical issues AI initiatives face in the development context. This paper argues that the multiple stakeholder layers in international development projects, as well as the role of third-party AI vendors, results in particular ethical concerns related to fairness and inclusion, transparency, explainability and accountability, data limitations, and privacy and security. It concludes with a series of principles that build on the information communication technology for development (ICT4D) community’s Principles for Digital Development to guide international development funders and implementers in the responsible, ethical implementation of AI initiatives.
  • Topic: Science and Technology, Ethics, International Development, Artificial Intelligence
  • Political Geography: Global Focus
  • Author: Josephine Wolff, Ta-Chun Su
  • Publication Date: 07-2020
  • Content Type: Journal Article
  • Journal: Fletcher Security Review
  • Institution: The Fletcher School, Tufts University
  • Abstract: . One of the questions that has always been very interesting to me is “Who do we hold responsible when something goes wrong with cybersecurity?” While that is a technical question—because often when something goes wrong, there is a technical component since you are dealing with a computer and the Internet—it also very much has to do with what our liability regimes say, what our policies say, what our social norms and expectations say about who we hold accountable and who is expected to pay for the damage. So for me, I think cybersecurity is about trying to understand what we mean when we talk about the "secure Internet,” what it looks like to have a secure Internet, and who we hold responsible for all the different components of how you get there. To whom do we say “It’s your job not to answer the phishing emails,” or “It’s your job to look for bug traffic on the network.” How do we piece together that entirely complicated ecosystem of different stakeholders, and how do we identify what their different roles and responsibilities should be? ...
  • Topic: Security, Science and Technology, Cybersecurity, Interview
  • Political Geography: Global Focus
  • Author: Gigi Gronvall
  • Publication Date: 07-2020
  • Content Type: Journal Article
  • Journal: Fletcher Security Review
  • Institution: The Fletcher School, Tufts University
  • Abstract: Synthetic biology is a relatively new scientific field that aims to make biology easier to engineer and, thus, more useful. It is already delivering on its enormous promise, yielding FDA-approved chimeric antigen receptor (CAR) T-cell cancer therapeutics, as well as non-medical products such as laboratory-produced fabrics, flavorings, adhesives, and detergents.[1][2] Despite such progress, however, the rapid growth and democratization of synthetic biology — almost all of which is taking place in the private sector — brings security challenges. Like all areas of the life sciences, it is “dual-use” and able to be exploited. To make misuse more limited and difficult to en‐ force, the United States will need to partner with other nations, international organizations, and international businesses to govern areas of the synthetic biology field...
  • Topic: Science and Technology, Biology, Medicine
  • Political Geography: Global Focus, United States of America
  • Author: Taleh Ziyadov
  • Publication Date: 09-2020
  • Content Type: Journal Article
  • Journal: Baku Dialogues
  • Institution: ADA University
  • Abstract: One thousand years ago two fundamental human concepts, namely history and time, were united for the first time by a great figure of the Silk Road region. Serving at the court of Qabus ibn Wushmagir (a great scion of the Ziyarid dynasty that ruled over the Southern Caspian basin in present-day Iran), a young man of around thirty by the name of Abu Rayhan Muhammad al-Biruni was provided with the wherewithal to engage in a lifelong, systematic quest to try to understand nations and societies— irrespective of geographic or cultural provenance—as they understood themselves. Surpassing even Herodotus and Thucydides in investigative open-mindedness, Biruni also went on to become the first to standardize a single, objective timescale measuring system or matrix within which all of the particulars of human history could be compared chronologically side by side.
  • Topic: Science and Technology, Innovation, Economic Development , Silk Road
  • Political Geography: Europe, Eurasia, Global Focus