Do We Still Need National Party Conventions?

Do We Still Need National Party Conventions?

Thomas DellaCroce

The first national election convention took place in 1832 in the process to determine the twelfth president of the United States. The Anti-Masonic party opted for an open convention to nominate their candidate in an effort to differ from the “Washington elite”. The old nomination process was extremely murky and involved agreements between higher-ups in the party. While the Anti-Masonic party nominated William Wirt, the Democrats copied the Anti-Masonic Party in the same election year and used their first party convention to nominate incumbent president Andrew Jackson. The Whigs did the same to nominate Henry Clay. Jackson would go on to win the 1832 election, and political parties have continued to use conventions to finish their nomination process since then. The excitement the event created and the attention it commanded made it an ideal final stage of the nominating process for parties. Since its first introduction, the convention process has changed over time, but still remains unique to United States politics. With the current COVID-19 pandemic continuing to rage throughout the country, the nature of conventions must shift once again, as packed stadiums will no longer be an option.

Algorithmic Trading: Scapegoat or Legitimate Issue?

Algorithmic Trading: Scapegoat or Legitimate Issue?

James Conley

Trading algorithms and computer-driven systematic trading have continued to be the scapegoat for many along Wall Street, both in the face of the coronavirus and otherwise. These fancy new forms of technology are earmarked as the biggest risk to the market at large, with Michael Lewis citing high-frequency trading as the “rigging” of the stock market, and figures as prominent as Secretary of the Treasury Steve Mnuchin believing that they have a negative impact on market turmoil (Cox, 2018). However, is this caricature accurate? While even those that program trading algorithms themselves recognize the potential downsides of implementing this technology, the broad use of computers as the only scapegoat is misguided and deceiving (Wigglesworth, 9 Jan 2019).

The Science Behind the Beirut Explosion

The Science Behind the Beirut Explosion

Ina Patrice Gonzales

The year 2020 ranks among the most eventful, with Australia’s devastating wildfires, a global pandemic, and the withdrawal of the United Kingdom from the European Union to name just a few. The most recent horror of 2020 occurred on Tuesday, August 4, 2020 just after 6PM (GMT). An immense explosion ravaged the capital city of Beirut, Lebanon with effects that could be felt from miles away. According to Lebanon’s Health Minister Ghassan Hasbani the blast tore through Lebanon’s capital city, killing at least 135 people, injuring about 5,000, and leaving an estimated 300,000 individuals homeless. Beirut will have a national period of mourning where citizens will honor the fallen as they attempt to rebuild all that was lost from Thursday, August, 6 until Saturday, August 9.

How to Buy a Parrot on Facebook (Dhaka, Bangladesh)

How to Buy a Parrot on Facebook (Dhaka, Bangladesh)

Ethan Plasker

Once the pandemic began and school was cancelled or moved online, a management professor at a university in Dhaka suddenly had time to pursue his dream occupation: becoming a bird breeder. Kabir, who’s information could not be disclosed due to privacy concerns, took notice of the change in his schedule and searched through Facebook to find a marketplace for birds. He joined about a dozen groups that offered a foot in the door to avian retail.

Goldman Sachs’ Modern Approach to Banking

Goldman Sachs’ Modern Approach to Banking

Shreya Sharma

On July 31st, Publicis Sapient, a company well-known for collaborating with its clients to allow them to digitize their business and client services, partnered with Goldman Sachs to announce the launch of Goldman’s new transactional banking platform (Team). At Goldman, the mission of their transactional banking department is simple: “provide a global transaction banking platform that is nimble, secure, and easy for clients to use and for partners to connect to”. The concept behind their new virtual transaction platform remains the same as this central mission. But what exactly is this platform and how will it affect the future of banking at Goldman Sachs? Despite gearing up late to modernize this sector of banking, the 150 year old institution is “banking” on their credibility in the industry to match up to the rest of the banks in the technology race. This new transactional banking platform is expected to result in a larger clientele at the firm and higher reported earrings in the future years as it offers services through more advanced and easy-to-use technology from a consumer perspective.

Australia and New Zealand: Be Wary of Subversive Chinese Influence

Australia and New Zealand: Be Wary of Subversive Chinese Influence

Adam Hilelly

It is no secret that China has long had regional ambitions in the Indo-Pacific. The concern for the last 15 years, however, has been the country’s rise in influence in Australia and New Zealand. Specifically, countries in the West are concerned about China’s ability to infiltrate all levels of government in both, as the Oceanian countries are part of the Five Eyes intelligence alliance. This agreement is defined by nearly unfettered intelligence sharing among the United States, the United Kingdom, Canada, Australia, and New Zealand. The English-speaking countries have long worked together on matters of counter-terrorism, cyber security, and illicit finance. The alliance, however, depends on the individual countries’ ability to combat and deter foreign interference. Unfortunately, it seems increasingly clear that both Australia and New Zealand are witnessing exterior influence from China. While China has certainly influenced the three other members of the UKUSA Agreement, Australia and New Zealand are most at risk because of their geographic proximity to China and strategic importance in the Indo-Pacific. As China continues to grow its international presence, Five Eyes members need to take a hard look at their security mechanisms, transparency, and vision for the coming decades.

Tesla’s Million Mile Battery: Turning Point for the Electric Car

Tesla’s Million Mile Battery: Turning Point for the Electric Car

Shraiy Gupta

As gasoline cars continue to contribute to global warming, environmentalists, car makers, and people across the globe are looking for a more sustainable solution. This has led to the rise of the electric car. The first electric car was made in 1832 but was unpopular, and so the idea of electric cars fell by the wayside. Electric cars finally gained traction with the public in 2000 with the launch of the Toyota Prius. The Prius paved the way for the future of electric vehicles because it was not fully electric; it was hybrid. It demonstrated the benefits of electrical power by giving great mileage while still delivering the reliability of gasoline. However, the hybrid pointed to the greatest flaw that plagued electrical vehicles: range. Most gasoline powered engines have ranges that can reach up to 400 miles on a single tank while electrical and hybrid cars could only travel 20-75 miles on the battery before needing a recharge.

The Impending Municipal Bond Debt Crisis

The Impending Municipal Bond Debt Crisis

Steven Obadiah

Municipal bonds are a key financial instrument in the growth and development of local governments, but they may also be those same governments’ downfall. Whereas business bankruptcies harm investors and debt-holders, municipal bankruptcy can result in heightened taxes, budget cuts, public worker layoffs, and default. For too long, several cities have delayed their debt responsibilities, and cities’ recent (and likely continued) drop in tax revenues has greatly damaged their abilities to continue operating as expected. This article explores the fundamental flaws in municipal debt, how some cities have taken on too much debt, and what we can expect of these cities.

Laissez-Faire Economics during Recession

Laissez-Faire Economics during Recession

Jack Geiger

Throughout modern history, the state traditionally attempts to act as a vehicle to soften the blows during recessions and create a healthier capitalistic society with smaller troughs of its economic cycle. Recent events have yielded unprecedented government action, largely provided by the Federal Reserve. While there are currently endless challenges, it appears that if one were to short the market during this recession, they would be betting against the Fed. The quote “Desperate times call for desperate measures”, originating from the Greek physician Hippocrates, gains momentum during these hectic times. Stances taken by the Federal Reserve certainly qualify as desperate; some projections of a jaw-dropping $10 trillion worth of federal stimulus draw uncertainties as to the necessary quantity. When quantitative easing, newly proposed “yield curve control”, the Paycheck Protection Program, the Main Street Lending Program, $600 added to every unemployment claim, and direct one-time handouts are awarded, questioning the extent of some of these programs in order to avoid future financial damage is justified.

The Smallest Objects in the Solar System

The Smallest Objects in the Solar System

Jaret Prothro

At first glance, our solar system might appear to just consist of the eight known planets, a couple of dwarf planets, and their moons. Trying to comprehend the sheer size of some of the planets and the expansiveness that separate them can be very difficult to do. While these astronomical giants are undoubtedly the most prominent objects in our neighborhood around the sun, they are by no means the only bodies orbiting the sun. The vast spaces in between planets are actually teeming with other astronomical objects, most of which are not as massive as the other solar system titans. In fact, they are minuscule comparatively, and these miniature space objects are the focus of this article.

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