An Increasingly Digital World Results in Fewer Payments Involving Cash; Wikimedia Commons With an increasingly digital and globalized financial system, countries around the world are preparing for the implementation of Central Bank Digital Currencies (CBDC). Only a few central banks have implemented them so far, but many more—including the Federal Reserve, European Central Bank, and Bank of England—are actively researching and developing them. Although the vast majority of currency in circulation is already stored in databases rather than physical bank vaults or wallets, this digital financial network is far from centralized. Commercial banks individually manage their databases and payment networks,…
Author: Edward Kim
Despite its incredible efficiency and low cost per watt of output, it has only taken three disasters to cripple public support for nuclear energy. However, a closer look at these catastrophes suggests that they were exceptions, not the pattern, of the stability and safety of nuclear power plants. The accident at Three Mile Island in Pennsylvania in 1979 only involved a reactor failure, and excess radiation was contained by the plant’s sound structure. The Fukushima Plant’s destruction was the result of its construction on a geologically active zone. In both situations, virtually no deaths resulted from leaked radiation. Most infamously,…
During Trump’s second presidency, Republican Representative Thomas Massie has frequently come under fire from members of his own party, despite being one of the most conservative members of congress. Although Massie holds a similar view with most of his Republican colleagues on abortion, gun control, and illegal immigration, his stance on other issues have caused President Trump to endorse his challenger in the upcoming Kentucky primary election. Massie’s “no” vote on the Big Beautiful Bill, his efforts to release the Epstein files, and non-interventionist stance on foreign policy issues have been the main reasons for attacks on him by fellow…
This past week in Britain’s local elections, Nigel Farage’s Reform UK party has made huge gains in previous strongholds of the Labour and Conservative parties. Running on a right-wing populist agenda, Farage has made reducing immigration a focus of his party’s campaign. Ten years ago, he also emphasized immigration issues in his successful campaign for Brexit. But politically, even by his own goals, this was not a success in resolving the issue.Before 2021, British membership of the EU allowed citizens of any other member country to live and work in the UK without restrictions. The effects of this were especially…
Slightly over a year ago, Canadians went to the polls to elect their Members of Parliament. In a major turnaround from the expected result for years, the Liberal Party retained its grip on Ottawa under the leadership of Prime Minister Mark Carney. A large part of the Liberal Party’s rebound was due to Canadians’ dislike of Republican President Trump, and his perceived ideological similarities with Conservative Party leader Pierre Poilievre. Many Canadians feared Trump’s desire to make Canada the 51st state, trusting Carney instead to bring prosperity to an independent Canada instead.For the past decade, however, the Liberal Canadian government,…
A recent hantavirus outbreak on a cruise ship on the MV Hondius has generated global concern and alerts from health authorities. The hantavirus has already resulted in multiple deaths, and required quarantines of the remaining passengers. Not coincidentally, interest in a treatment for the disease has spiked, as have the prices of Moderna’s stock. During the Covid-19 Pandemic, Moderna, along with Pfizer and AstraZeneca rapidly developed vaccines using mRNA technology, the first of their kind in history. And these vaccines were widely distributed and used around the world, marketed as “safe and effective” by numerous health authorities. But an investigation into…
110 years ago marked the beginning of a new political era for the Irish. Centuries of oppressive rule by British overlords included the prohibition of expressions of Irish culture, discrimination against its Catholic population, and worst of all, intentional mass starvation during the 1840s. Although it is known as the Irish Potato Famine, the reality is that while the potatoes died in large quantities, British landlords confiscated virtually all of Ireland’s supply of other foods, such as beef, cheese, and fish. They made exorbitant profits off selling them back in Great Britain, whose wealth contrasted with the extreme poverty that…
For almost two centuries, both Britain and Argentina have claimed the Falkland Islands in the South Atlantic Ocean. The islands have predominantly been under British control, with a brief interruption during the Argentine invasion in 1982. Recently, reports have indicated that President Trump is reassessing the United States’ recognition of Britain’s claim in favor of Argentine President Javier Milei, as a form of punishment for Britain’s lack of involvement in the Iran war. However, what legitimacy does Argentina have in its claim to the islands? The Falklands were first colonized by the British and French empires long before the Spanish…
Recycle to save the environment. After all, who wants plastic to end up in an ever-expanding landfill? Surely, all the plastic bottles that we drink out of could be turned into new gadgets after a quick sip. But most of the time, this is wishful thinking. It turns out that only around 5% of all plastic that is thrown into recycle bins is actually remanufactured into new usable products. Plastic products are often fragile in terms of their ability to be recycled, easily being damaged by food stains or residual fluids from their use as containers or bags. As a…
In the wake of rising fuel prices caused by Trump’s war with Iran, massive protests broke out led by farmers in Ireland. Long convoys of trucks and tractors have blocked streets, ports, and oil refineries across the island in response to carbon and fuel taxes. These protests have since been calmed by economic relief packages including reduction of said taxes. Nevertheless, they reflect an increasingly global opposition to the war on farmers against elitist tyranny. Farmer protests conducted in similar ways have occurred all across Europe, in the Netherlands, France, and Germany, against other authoritarian measures in recent years. Particularly,…