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How America can rebuild its industrial landscape to sustain an innovative economy.

In this book, ten prominent economists—including Nobel laureates and several likely laureates—offer their ideas about what the future might hold in 100 years.This pithy and engaging volume shows that economists may be better equipped to predict the future than science fiction writers. Economists' ideas, based on both theory and practice, reflect their knowledge of the laws of human interactions as well as years of experimentation and reflection. Although perhaps not as screenplay-ready as a work of fiction, these economists' predictions are ready for their close-ups. In this book, ten prominent economists—including Nobel laureates and several likely laureates—offer their ideas about the world of the twenty-second century.In scenarios that range from the optimistic to the guardedly gloomy, these thinkers consider such topics as the transformation of work and wages, the continuing increase in inequality, the economic rise of China and India, the endlessly repeating cycle of crisis and (projected) recovery, the benefits of technology, the economic consequences of political extremism, and the long-range effects of climate change. For example, 2013 Nobelist Robert Shiller provides an innovative view of future risk management methods using information technology; and Martin Weitzman raises the intriguing but alarming possibility of using geoengineering techniques to mitigate the inevitable effects of climate change.Contributors Daron Acemoglu, Angus Deaton, Avinash K. Dixit, Edward L. Glaeser, Andreu Mas-Colell, John E. Roemer, Alvin E. Roth, Robert J. Shiller, Robert M. Solow, Martin L. Weitzman

An accessible description of modern macroeconomics, and a defense of its policy relevance.

An analysis of divergent online news preferences of journalists and consumers and what this means for media and democracy in the digital age.

An introduction to writing proofs about computer programs, written in an accessible question-and-answer style, complete with step-by-step examples and a simple proof assistant.The Little Prover introduces inductive proofs as a way to determine facts about computer programs. It is written in an approachable, engaging style of question-and-answer, with the characteristic humor of The Little Schemer (fourth edition, MIT Press). Sometimes the best way to learn something is to sit down and do it; the book takes readers through step-by-step examples showing how to write inductive proofs. The Little Prover assumes only knowledge of recursive programs and lists (as presented in the first three chapters of The Little Schemer) and uses only a few terms beyond what novice programmers already know. The book comes with a simple proof assistant to help readers work through the book and complete solutions to every example.

A comprehensive and multidisciplinary view of the emerging paradigm of user and open innovation, offering both theoretical and empirical perspectives.

Essays and images that map art's new sonic cosmos, illustrated in color throughout.This milestone volume maps fifty years of artists' engagement with sound. Since the beginning of the new millennium, numerous historical and critical works have established sound art as an artistic genre in its own right, with an accepted genealogy that begins with Futurism, Dada, and Fluxus, as well as disciplinary classifications that effectively restrict artistic practice to particular tools and venues. This book, companion volume to a massive exhibition at ZKM | Karlsruhe, goes beyond these established disciplinary divides to chart the evolution and the full potential of sound as a medium of art. The book begins with an extensive overview by volume editor Peter Weibel that considers the history of sound as media art, examining work by visual artists, composers, musicians, and architects alike. Subsequent essays examine sound experiments in antiquity, sonification of art and science, and internet-based sound art. Contributors then survey the global field of sound art research and practice, in essays that describe the past, present, and future of sound art in Germany, Japan, China, the United States, the United Kingdom, Russia, Canada, Turkey, Australia, and Scandinavia. The texts are accompanied by an extensive photographic documentation of the ZKM exhibition.Texts byAchille Bonito Oliva, Dmitry Bulatov, Germano Celant, Seth Cluett, Christoph Cox, Julia Gerlach, Ryo Ikeshiro und/and Atau Tanaka, Caleb Kelly, Brandon LaBelle, Christof Migone, László Moholy-Nagy, Daniel Muzyczuk, Tony Myatt, Irene Noy, Giuliano Obici, Carsten Seiffarth und/and Bernd Schulz, Basak Senova, Linnea Semmerling, Morten Søndergaard, Alexandra Supper, David Toop und/and Adam Parkinson, Peter Weibel, Dajuin Yao, Siegfried Zielinski

The substantially revised fifth edition of a textbook covering the wide range of instruments available in financial markets, with a new emphasis on risk management.Over the last fifty years, an extensive array of instruments for financing, investing, and controlling risk has become available in financial markets, with demand for these innovations driven by the needs of investors and borrowers. The recent financial crisis offered painful lessons on the consequences of ignoring the risks associated with new financial products and strategies. This substantially revised fifth edition of a widely used text covers financial product innovation with a new emphasis on risk management and regulatory reform. Chapters from the previous edition have been updated, and new chapters cover material that reflects recent developments in financial markets.The book begins with an introduction to financial markets, offering a new chapter that provides an overview of risk—including the key elements of financial risk management and the identification and quantification of risk. The book then covers market participants, including a new chapter on collective investment products managed by asset management firms; the basics of cash and derivatives markets, with new coverage of financial derivatives and securitization; theories of risk and return, with a new chapter on return distributions and risk measures; the structure of interest rates and the pricing of debt obligations; equity markets; debt markets, including chapters on money market instruments, municipal securities, and credit sensitive securitized products; and advanced coverage of derivative markets. Each chapter ends with a review of key points and questions based on the material covered.

The first complete English translation of Nadar's intelligent and witty memoir, a series of vignettes that capture his experiences in the early days of photography.Celebrated nineteenth-century photographer—and writer, actor, caricaturist, inventor, and balloonist—Félix Nadar published this memoir of his photographic life in 1900 at the age of eighty. Composed as a series of vignettes (we might view them as a series of "written photographs”), this intelligent and witty book offers stories of Nadar's experiences in the early years of photography, memorable character sketches, and meditations on history. It is a classic work, cited by writers from Walter Benjamin to Rosalind Krauss. This is its first and only complete English translation.In When I Was a Photographer (Quand j'étais photographe), Nadar tells us about his descent into the sewers and catacombs of Paris, where he experimented with the use of artificial lighting, and his ascent into the skies over Paris in a hot air balloon, from which he took the first aerial photographs. He recounts his "postal photography” during the 1870-1871 Siege of Paris—an amazing scheme involving micrographic images and carrier pigeons. He describes technical innovations and important figures in photography, and offers a thoughtful consideration of society and culture; but he also writes entertainingly about such matters as Balzac's terror of being photographed, the impact of a photograph on a celebrated murder case, and the difference between male and female clients. Nadar's memoir captures, as surely as his photographs, traces of a vanished era.

A textbook that approaches modern macroeconomics through its microeconomic foundations, with an emphasis on financial market connections and policy applications.The modern study and analysis of macroeconomics begins by considering how microeconomic units—consumers and firms—make decisions, and then investigates how these choices interact to yield economy-wide outcomes. This innovative textbook takes this "modern” approach, teaching macroeconomics through its microeconomic foundations. It does so by adopting the representative agent paradigm. By modeling the representative consumer and the representative firm, students will learn to describe macroeconomic outcomes and consider the effects of macroeconomic policies. Unique in its coverage of monopolistic competition, financial markets, and the interaction of fiscal and monetary policy, Modern Macroeconomics is suitable for use in intermediate undergraduate, advanced undergraduate, and graduate level courses.The book first introduces the building blocks of macroeconomics, the heart of which is the representative consumer. It goes on to offer a brief history of macroeconomic thought, including supply-side economics, the Phillips curve, and the New Keynesian framework. It then covers two policy applications, monetary policy and the interaction of monetary and fiscal policy; optimal policy analysis for both the flexible price and the rigid price case; long-run steady states, treating the Solow growth framework and the neoclassical growth model; a search-and-matching framework for the analysis of unemployment; and the application of the tools of modern macroeconomics to "open economy,” or international macroeconomics. End-of-chapter problem sets enable students to apply the concepts they have learned. A separate Solutions Manual will be available for students to purchase. Teaching materials, including complete solutions and slides, will be available to qualified instructors.

An introduction to decision making under uncertainty from a computational perspective, covering both theory and applications ranging from speech recognition to airborne collision avoidance.Many important problems involve decision making under uncertainty—that is, choosing actions based on often imperfect observations, with unknown outcomes. Designers of automated decision support systems must take into account the various sources of uncertainty while balancing the multiple objectives of the system. This book provides an introduction to the challenges of decision making under uncertainty from a computational perspective. It presents both the theory behind decision making models and algorithms and a collection of example applications that range from speech recognition to aircraft collision avoidance.Focusing on two methods for designing decision agents, planning and reinforcement learning, the book covers probabilistic models, introducing Bayesian networks as a graphical model that captures probabilistic relationships between variables; utility theory as a framework for understanding optimal decision making under uncertainty; Markov decision processes as a method for modeling sequential problems; model uncertainty; state uncertainty; and cooperative decision making involving multiple interacting agents. A series of applications shows how the theoretical concepts can be applied to systems for attribute-based person search, speech applications, collision avoidance, and unmanned aircraft persistent surveillance.Decision Making Under Uncertainty unifies research from different communities using consistent notation, and is accessible to students and researchers across engineering disciplines who have some prior exposure to probability theory and calculus. It can be used as a text for advanced undergraduate and graduate students in fields including computer science, aerospace and electrical engineering, and management science. It will also be a valuable professional reference for researchers in a variety of disciplines.

Through essays, poetry, stories, and images, writers and artists offer their perceptions of how we fit into the world and where we might be headed.

How Jerry Wiesner, presidential science adviser and president of MIT, worked to make a better and safer world, as told by friends and colleagues and in his own autobiographical writings.

In Neural Organization, Arbib, Erdi, and Szentagothai integrate structural, functional, and dynamical approaches to the interaction of brain models and neurobiologcal experiments.

Influential neoclassical economist Lionel McKenzie has made major contributions to postwar economic thought in the fields of equilibrium, trade, and capital accumulation. This selection of his papers traces the development of his thinking in these three crucial areas.McKenzie's early academic life took him to Duke, Princeton, Oxford, the University of Chicago, and the Cowles Commission. In 1957, he went to the University of Rochester to head the economics department there, and he remains at Rochester, now Wilson Professor Emeritus of Economics. McKenzie's most significant research was undertaken during a period that saw the development of the major themes of neoclassical economics and the use of fundamental mathematical methods to do so. McKenzie contributed to both aspects of this research program. He helped shape the direction of the field and, at Rochester, influenced generations of future scholars. In 2002, The MIT Press published McKenzie's Classical General Equilibrium Theory, a detailed summary of the model and methodology. This book, collecting his most important papers in the form in which they were originally published, can be seen as a companion to that one. The many state-of-the-art results achieved in McKenzie's original papers present sophisticated theoretical work that will continue to be important to future developments in the discipline.

A survey of probabilistic approaches to modeling and understanding brain function.

A thorough exposition of quantum computing and the underlying concepts of quantum physics, with explanations of the relevant mathematics and numerous examples. The combination of two of the twentieth century's most influential and revolutionary scientific theories, information theory and quantum mechanics, gave rise to a radically new view of computing and information. Quantum information processing explores the implications of using quantum mechanics instead of classical mechanics to model information and its processing. Quantum computing is not about changing the physical substrate on which computation is done from classical to quantum but about changing the notion of computation itself, at the most basic level. The fundamental unit of computation is no longer the bit but the quantum bit or qubit. This comprehensive introduction to the field offers a thorough exposition of quantum computing and the underlying concepts of quantum physics, explaining all the relevant mathematics and offering numerous examples. With its careful development of concepts and thorough explanations, the book makes quantum computing accessible to students and professionals in mathematics, computer science, and engineering. A reader with no prior knowledge of quantum physics (but with sufficient knowledge of linear algebra) will be able to gain a fluent understanding by working through the book.

The new edition of an introduction to computer programming within the context of the visual arts, using the open-source programming language Processing; thoroughly updated throughout. The visual arts are rapidly changing as media moves into the web, mobile devices, and architecture. When designers and artists learn the basics of writing software, they develop a new form of literacy that enables them to create new media for the present, and to imagine future media that are beyond the capacities of current software tools. This book introduces this new literacy by teaching computer programming within the context of the visual arts. It offers a comprehensive reference and text for Processing (www.processing.org), an open-source programming language that can be used by students, artists, designers, architects, researchers, and anyone who wants to program images, animation, and interactivity. Written by Processing's cofounders, the book offers a definitive reference for students and professionals. Tutorial chapters make up the bulk of the book; advanced professional projects from such domains as animation, performance, and installation are discussed in interviews with their creators.This second edition has been thoroughly updated. It is the first book to offer in-depth coverage of Processing 2.0 and 3.0, and all examples have been updated for the new syntax. Every chapter has been revised, and new chapters introduce new ways to work with data and geometry. New "synthesis” chapters offer discussion and worked examples of such topics as sketching with code, modularity, and algorithms. New interviews have been added that cover a wider range of projects. "Extension” chapters are now offered online so they can be updated to keep pace with technological developments in such fields as computer vision and electronics.InterviewsSUE.C, Larry Cuba, Mark Hansen, Lynn Hershman Leeson, Jürg Lehni, LettError, Golan Levin and Zachary Lieberman, Benjamin Maus, Manfred Mohr, Ash Nehru, Josh On, Bob Sabiston, Jennifer Steinkamp, Jared Tarbell, Steph Thirion, Robert Winter

A program for building a global clean energy economy while expanding job opportunities and economic well-being.In order to control climate change, the International Panel on Climate Change (IPCC) estimates that greenhouse gas emissions will need to fall by about forty percent by 2030. Achieving the target goals will be highly challenging. Yet in Greening the Global Economy, economist Robert Pollin shows that they are attainable through steady, large-scale investments—totaling about 1.5 percent of global GDP on an annual basis—in both energy efficiency and clean renewable energy sources. Not only that: Pollin argues that with the right investments, these efforts will expand employment and drive economic growth.Drawing on years of research, Pollin explores all aspects of the problem: how much energy will be needed in a range of industrialized and developing economies; what efficiency targets should be; and what kinds of industrial policy will maximize investment and support private and public partnerships in green growth so that a clean energy transformation can unfold without broad subsidies. All too frequently, inaction on climate change is blamed on its potential harm to the economy. Pollin shows greening the economy is not only possible but necessary: global economic growth depends on it.

A groundbreaking analysis of the relationship between culture and technology.

A detailed analysis of the policy effects of conservatives' decades-long effort to dismantle the federal regulatory framework for environmental protection.

A pioneering proposal for a pluralistic extension of evolutionary theory, now updated to reflect the most recent research. This new edition of the widely read Evolution in Four Dimensions has been revised to reflect the spate of new discoveries in biology since the book was first published in 2005, offering corrections, an updated bibliography, and a substantial new chapter. Eva Jablonka and Marion Lamb's pioneering argument proposes that there is more to heredity than genes. They describe four "dimensions” in heredity—four inheritance systems that play a role in evolution: genetic, epigenetic (or non-DNA cellular transmission of traits), behavioral, and symbolic (transmission through language and other forms of symbolic communication). These systems, they argue, can all provide variations on which natural selection can act. Jablonka and Lamb present a richer, more complex view of evolution than that offered by the gene-based Modern Synthesis, arguing that induced and acquired changes also play a role. Their lucid and accessible text is accompanied by artist-physician Anna Zeligowski's lively drawings, which humorously and effectively illustrate the authors' points. Each chapter ends with a dialogue in which the authors refine their arguments against the vigorous skepticism of the fictional "I.M.” (for Ipcha Mistabra—Aramaic for "the opposite conjecture”). The extensive new chapter, presented engagingly as a dialogue with I.M., updates the information on each of the four dimensions—with special attention to the epigenetic, where there has been an explosion of new research. Praise for the first edition"With courage and verve, and in a style accessible to general readers, Jablonka and Lamb lay out some of the exciting new pathways of Darwinian evolution that have been uncovered by contemporary research.”—Evelyn Fox Keller, MIT, author of Making Sense of Life: Explaining Biological Development with Models, Metaphors, and Machines"In their beautifully written and impressively argued new book, Jablonka and Lamb show that the evidence from more than fifty years of molecular, behavioral and linguistic studies forces us to reevaluate our inherited understanding of evolution.”—Oren Harman, The New Republic"It is not only an enjoyable read, replete with ideas and facts of interest but it does the most valuable thing a book can do—it makes you think and reexamine your premises and long-held conclusions.”—Adam Wilkins, BioEssays

An examination of informal urban activities-including street vending, garage sales, and unpermitted housing-that explores their complexity and addresses related planning and regulatory issues.