Regulations – Page 12 – artdiamondblog.com

Scientists Had Political Motives for Dismissing Wuhan Lab-Based Covid Origin

(p. A17) On March 17, 2020, the journal Nature Medicine published a paper by five scientists, “The Proximal Origin of SARS-CoV-2,” that dismissed “any type of laboratory based scenario” for the origin of the pandemic. It was cited by thousands of news outlets to claim that the virus emerged naturally. But Slack messages and emails subpoenaed and released by the House Oversight Select Subcommittee on the Coronavirus Pandemic suggest that some of the authors didn’t believe their own conclusions. Before, during and even after the publication of their paper, they worried privately that Covid-19 was caused by a laboratory escape, perhaps even of a genetically engineered virus.

. . .

On April 16, a month after publication, Mr. Andersen wrote that “I’m still not fully convinced that no culture was involved” and “we also can’t fully rule out engineering”—i.e., that the virus not only was released from the lab but had been genetically manipulated there. He worried about the Wuhan lab’s research on live SARS-like viruses from bats at low biosafety levels: “it’s definitely concerning work, no question about it.”

So why did they publish a paper denying that laboratory origin was plausible? The answer may lie in their messages. In early February 2020, Mr. Rambaut wrote: “Given the s— show that would happen if anyone serious accused the Chinese of even accidental release, my feeling is we should say that given there is no evidence of a specifically engineered virus, we cannot possibly distinguish between natural evolution and escape so we are content to ascribing it to natural processes.”

Mr. Andersen replied: “I totally agree that that’s a very reasonable conclusion. Although I hate when politics is injected into science—but it’s impossible not to.”

. . .

To adjust the conclusions in a scientific paper for political reasons isn’t part of the scientific process. The world was misled with serious consequences.

For the full commentary, see:

Matt Ridley and Alina Chan. “The Covid Lab-Leak Deception.” The Wall Street Journal (Thursday, July 27, 2023): A17.

(Note: ellipses added.)

(Note: the online version of the commentary has the date July 26, 2023, and has the same title as the print version.)

Average Wages in Boom Towns Would Rise “Astounding” $8,775 If Zoning Laws Eased

(p. A13) Though some might expect areas populated by conservatives to be the most exclusionary, it is areas where highly educated liberals live that engage in the worst forms of economically exclusionary housing policy. Researchers writing in the Journal of Experimental Social Psychology in 2018 found that highly educated Americans have comparatively tolerant racial attitudes but hold “negative attitudes toward the less educated.” Americans with different levels of education all have biases, they wrote, but “the targets of prejudice are different.”

Exclusionary housing practices are a linchpin in the architecture of educational inequality in America. Because 73% of American school children attend neighborhood public schools, where you live typically determines the quality of schooling. Most people who are concerned about improving education naturally focus attention on what school boards and state education officials do, but it’s at least as important to focus on what the local and state officials running housing policy are up to.

For sixty years, researchers have found that the economic segregation of students. which is driven by housing policy, shapes educational opportunity even more powerfully than per pupil spending. In Montgomery County Maryland, for example, county officials pursued two strategies for raising the achievement of low-income students. In one program, starting in 2000, the school board spent $2,000 extra per pupil in high-poverty schools. In another, begun decades earlier, the county council enacted an “inclusionary zoning” law that to this day requires builders to set aside a portion of new developments for low-income families. Over time, as Heather Schwartz of RAND found in a 2010 study, what the housing authority did for students cut the math achievement gap between low-income and middle-class students in half, while the school board’s program had much less impact.

Zoning-induced housing costs also prevent workers from moving to places where they can make the highest wages, which is typically in coastal cities. Research shows that this barrier to mobility gravely damages American economic productivity, to say nothing of the aspirations of individuals and families. A 2018 study by Edward Glaeser and Joseph Gyourko, for example, found that “restrictive residential land-use regulation” had a price tag of “at least 2% of national output,” or about $400 billion. A 2019 study by Chang-Tai Hsieh and Enrico Moretti, found that if three high-productivity cities—New York, San Jose and San Francisco—relaxed restrictions on housing supply, more workers could move to them, and average wages nationally would rise an astounding $8,775.

When people do move to higher-wage regions, exclusionary zoning laws often force them to live in the far reaches of metropolitan areas. This means longer commutes, which are associated with higher blood pressure and divorce rates, and more miles on the road, which is bad for the environment.

For the full essay, see:

Richard D. Kahlenberg. “Only Zoning Reform Can Solve America’s Housing Crisis.” The Wall Street Journal (Saturday, June 24, 2023): A13.

(Note: the online version of the essay has the date June 22, 2023, and has the same title as the print version. The sentences in the penultimate paragraph quoted above (mentioning 2018 and 2019 papers) appear in the online, but not in the print, version of the essay.)

The essay quoted above is adapted from the book:

Kahlenberg, Richard D. Excluded: How Snob Zoning, Nimbyism, and Class Bias Build the Walls We Don’t. New York: PublicAffairs, 2023.

The Talented, Wealthy, Ambitious, and Hardworking Vote with Their Feet Against Communist China

(p. B12) Is China reopening to the world or turning inward again?

Many would argue the latter, but in one important way, the country is still going global: Residents appear to be leaving at a faster clip than they have in years, including a significant number of the wealthy and well-educated the nation needs to keep modernizing and investing.

. . .

Rebounding emigration is also striking in the context of a declining overall birthrate, and suggests that Beijing must do far more to convince talent, both domestic and foreign, that China is a good place to put down roots if it wants to avoid a steeper growth slowdown in the years ahead.

. . .

Rising net emigration also mirrors much smaller influxes of foreign talent in recent years—another trend that threatens to slow China’s climb up the technological ladder. Foreign residents of Shanghai and Beijing numbered just 163,954 and 62,812 in 2020, according to official data, down 21% and 42%, respectively, since 2010. The pandemic is clearly a major factor. But given the well-publicized rising tensions between China and the West, slowing growth and the rising risks of detention and investigation for what used to be considered routine business by foreigners in China, a portion of that decrease seems very likely to persist.

For much of the new millennium, China has been a place where the ambitious, hardworking and lucky could often get ahead. But in today’s China—more focused on security and control, less on growth—it is no longer clear how true that really is.

Some people, at least, seem to be voting with their feet.

For the full commentary, see:

Nathaniel Taplin. “HEARD ON THE STREET; China’s Brain Drain Threatens Its Future.” The Wall Street Journal (Thursday, July 6, 2023): B12.

(Note: ellipses added.)

(Note: the online version of the commentary has the date July 5, 2023, and has the same title as the print version.)

Affirmative Action Quotas Forced Admission of the Academically Unqualified

(p. A13) As Richard Sander and Stuart Taylor Jr. demonstrated in “Mismatch,” their 2012 book on affirmative action, there are very few black students in the top academic cohorts from which highly selective colleges draw most of their students. Black high-school seniors are one-tenth as likely to be in the top tenth of college applicants nationwide as nonblack applicants. The average black SAT score in 2022 was 926 on a 1600 point scale. The average Asian score was 1229 and the average white score was 1098.

. . .

Harvard’s own research in 2013 showed that the black share of its undergraduate population would drop from 10% to less than 1% if it admitted students according to academic skills only. Harvard has the pick of the black U.S. high-school population, but even it can’t fill its desired quota without double standards.

. . .

The result isn’t a benefit to these students but a burden. Research shows they are more likely to end up in the bottom of their classes, if not to drop out of college and professional education entirely. This academic mismatch doesn’t dispel racial stereotypes; it reinforces them.

For the full commentary, see:

Heather Mac Donald. “Racial Preferences Bred 50 Years of ‘Mismatch’.” The Wall Street Journal (Wednesday, July 11, 2023): A13.

(Note: ellipses added.)

(Note: the online version of the commentary was updated July 10, 2023, and has the title “Affirmative Action Bred 50 Years of ‘Mismatch’.”)

The affirmative action book cited in the passage quoted above is:

Sander, Richard, and Stuart Taylor, Jr. Mismatch: How Affirmative Action Hurts Students It’s Intended to Help, and Why Universities Won’t Admit It. New York: Basic Books, 2012.

“Harvard’s own research” from 2013 mentioned above was reported in Slate in 2018:

Mak, Aaron. “Admitting Bias; Harvard Had Proof Its Admissions Process Was Hurting Asian Americans. How Will Its Dean Explain Why He Did Nothing About It?” slate.com, Oct. 15, 2018.

Unsound Trucking Firm “Blew Through” $700 Million of Federal Covid “Bailout” Loan

(p. A4) The Treasury Department erred in giving a loan to a troubled trucking company as part of a 2020 Covid-19 rescue package and should refrain from similar sector-specific loan programs in the future, according to a new congressional report.

Yellow, a trucking company, received a $700 million loan from the Treasury Department as part of an aid program for private industries included in bipartisan legislation known as the Cares Act enacted early in the pandemic.

But Treasury had to skirt the program’s rules to make the loan, the report said. The agency designated Yellow—then known as YRC Worldwide—as critical to national security even though the company didn’t meet the standard for that designation, the report said.

. . .

In exchange for the loan, Treasury received a roughly 30% stake in the company.

. . .

At the time of the loan the company was rated noninvestment grade by Moody’s Investors Service and was at risk of bankruptcy, according to the report.

. . .

In recent months, Yellow has again suffered from the broader freight slowdown.

. . .

Teamsters President Sean O’Brien said the union is abiding by the terms of its contract with the company.

“After decades of gross mismanagement, Yellow blew through a $700 million bailout from the federal government, and now it wants workers to foot the bill,” O’Brien said in a statement.

For the full story, see:

David Harrison. “Treasury Faulted for Loan to Troubled Trucking Firm.” The Wall Street Journal (Wednesday, June 28, 2023): A4.

(Note: ellipses added.)

(Note: the online version of the story was updated June 27, 2023, and has the title “Treasury Shouldn’t Have Given Pandemic Aid to Trucking Company, Report Finds.”)

Federal Trade Commission (FTC) Seeks to Bury Merging Firms in Paperwork

(p. A13) The Federal Trade Commission is trying to make it harder for companies to merge by burying them in paperwork. The FTC’s proposed overhaul of a critical part of the U.S. merger review process would increase the average time to prepare a merger filing from 37 hours to 144. According to the agency’s calculations, that’s roughly $350 million in added costs for an estimated 7,100 filings a year, which would be a boon for lawyers but a burden for businesses.

The one-size-fits-all proposal to add dozens of hours of paperwork per deal—regardless of competitive concerns—is an overreach by the FTC and the Justice Department’s antitrust division that will disproportionately chill investments at the lower end of the reporting threshold.

For the full commentary, see:

Christopher Williams and Henry Hauser. “Antitrust Officials Pile on the Paperwork.” The Wall Street Journal (Wednesday, July 5, 2023): A13.

(Note: the online version of the commentary has the date July 4, 2023, and has the same title as the print version.)

Dem Celebrities and Politicians Cultivated Crony Ties to FTX Fraudster Bankman-Fried

(p. B1) About 10 months before he was arrested on fraud charges, the cryptocurrency mogul Sam Bankman-Fried posed for a photograph at the 2022 Super Bowl in Inglewood, Calif.

On one side of him were Orlando Bloom and Katy Perry, the celebrity couple. On the other was the actress Kate Hudson. Standing in the center, with his arm slung over Mr. Bankman-Fried’s shoulder, was a lesser-known figure: Michael Kives.

Mr. Kives, a Hollywood agent turned investor, played an unusual role in Mr. Bankman-Fried’s business empire: super connector. He and his business partner, Bryan Baum, helped the young founder cultivate relationships with Mr. Bloom, Ms. Perry and former President Bill Clinton, and offered introductions to a who’s who of celebrities and business leaders, from Leonardo DiCaprio to the governor of Saudi Arabia’s Public Investment Fund.

The relationship was mutually beneficial. Mr. Bankman-Fried invested $700 million in Mr. Kives’s venture-capital firm, court records show, an extraordinary level of support for a fund with a short track record of start-up investments. Mr. Kives, the founder and face of the firm, and Mr. Baum each received $125 million as part of the deal.

For the full story, see:

David Yaffe-Bellany and Erin Griffith. “The Celebrity Super Connector Who Brought Big Names to FTX.” The New York Times (Saturday, June 24, 2023): B1 & B4.

(Note: the online version of the story has the date June 23, 2023, and has the title “The Super Connector Who Built Sam Bankman-Fried’s Celebrity World.”)

Is Leonardo’s Ferry Moored Due to Global Warming or Due to Bureaucratic Credentialism?

(p. 4) On a recent sunny morning on the banks of the Adda River in northern Italy, schoolchildren on a class trip to Imbersago — the “Town of the Ferry of Leonardo da Vinci” — gathered next to a moored boat and listened as a guide explained how the flights of the river’s birds, the formations of its rocks and the workings of its ships inspired Leonardo’s genius.

“Why doesn’t it move?” one of the students interrupted, pointing to the ferry, which sat behind a chain and a sign reading, “Service suspended.” It looked like a deserted summer deck atop two rowboats.

. . .

. . . some of the townspeople say an Italian problem more daunting than climate change is the real culprit for the ferry’s immobility since May [2023].

“Bureaucracy,” said John Codara, who owns the gelato shop next to the ferry.

. . .

“I mean Leonardo wasn’t a moron,” he said, under a framed picture of Leonardo. He demonstrated how the ferry worked on a small wooden model made by a local pensioner — “It’s to scale; it’s worth 500 euros,” or nearly $550, and argued that low water and weak currents meant operators required elbow grease to move it across the cable connecting the two banks.

“The force of the ferry is these,” Mr. Codara said, pointing at his biceps.

What they did not need was an advanced nautical degree, he said, as he marched out of his cafe and made a beeline for a sign honoring “The Human Face of the Ferry” and its pilots over the past century. “Harvard, Harvard, Harvard,” Mr. Codara said with derision as he pointed at the names. “They all went to Harvard.”

Roberto Spada, 75, whose father was one of those ferrymen, said he helped navigate the ferry as a 12-year-old and was interested in helping out the town by doing it again as a volunteer.

“I thought with my license I could do it,” Mr. Spada told the mayor as they leaned against other signs posted next to the ferry that featured both Leonardo’s sketch and an excerpt from Dante’s “Inferno” about Charon, “ferryman of the damned.”

A retired truck driver and president of the local fishing association — which has the ferry as its logo — Mr. Spada had a boating license but seemed bewildered as the mayor explained all of the certifications and bureaucratic hoops that needed to be jumped through to pilot the ferry.

“It’s a really long process,” said Mr. Vergani, the mayor.

For the full story, see:

Jason Horowitz. “Leonardo’s Ferry Left High and Dry in a Warming Climate.” The New York Times, First Section (Sunday, April 23, 2023): 4.

(Note: ellipses, and bracketed year, added.)

(Note: the online version of the story was updated April 25, 2023, and has the title “Leonardo’s Ferry Left High and Dry by Global Warming and Red Tape.”)

Rage That Transplant Medicine Stagnates

The essay quoted below provides one more example of why we should unbind medical entrepreneurs to allow them to bring us more and faster cures.

(p. 8) Today, I will explain to my healthy transplanted heart why, in what may be a matter of days or weeks at best, she — well, we — will die.

. . .

Organ transplantation is mired in stagnant science and antiquated, imprecise medicine that fails patients and organ donors.

. . .

Over the last almost four decades a toxic triad of immunosuppressive medicines — calcineurin inhibitors, antimetabolites, steroids — has remained essentially the same with limited exceptions. These transplant drugs (which must be taken once or twice daily for life, since rejection is an ongoing risk and the immune system will always regard a donor organ as a foreign invader) cause secondary diseases and dangerous conditions, including diabetes, uncontrollable high blood pressure, kidney damage and failure, serious infections and cancers. The negative impact on recipients is not offset by effectiveness: the current transplant medicine regimen does not work well over time to protect donor organs from immune attack and destruction.

. . .

I am speaking for my transplant cardiologist, the finest physician I have ever known, who sat across from me last month and cried into his palms when he told me I had incurable cancer.

For the full essay, see:

Amy Silverstein. “My Donor Heart And I Will Die Soon.” The New York Times, SundayOpinion Section (Sunday, April 23, 2023): 8.

(Note: ellipsis added; in the original, the word “we” in the first sentence is in italics.)

(Note: the online version of the essay has the date April 18, 2023, and has the title “My Transplanted Heart and I Will Die Soon.”)

Feds Impose Tariffs on Imports of Paper-Thin Steel Needed to Make EV Engines

(p. A3) Large U.S. steelmakers are ramping up production of a hard-to-make, paper-thin steel to capture a fast-growing market for a material critical to powering electric vehicles.

. . .

Such electrical steel, which accounts for about 1% of all the steel produced annually in the world, already is in short supply for electric vehicles, executives said. Companies expect demand to accelerate faster than production as EV volumes expand in the coming years.

“It’s in limited supply and with very long lead times. Sometimes 50 or 52 weeks,” said Hale Foote, owner of Scandic Springs Inc., a San Leandro, Calif., company that uses high-grade electrical steel to make parts for scientific measurement devices.

. . .

More than 80% of the electrical steel produced comes from China, Japan and South Korea, all countries that are subject to U.S. tariffs or quotas on steel imports, industry analysts said.

. . .

(p. B2) “It takes intense focus. You have to have absolute consistency or you scrap the material,” said David Stickler, who led the investment group that built Big River Steel in Osceola, Ark., and then sold the mill to U.S. Steel in 2021. Mr. Stickler said he envisioned electrical steel being a core product at Big River when he started planning the mill nearly a decade ago.

. . .

Steel-industry executives said that creating more domestic capacity to make electrical steel for vehicles will likely take years, as steel companies acquire equipment and become proficient at the exacting production process.

“You can’t just buy the equipment and start making electrical steel. Those who’ve made the investment will have an advantage for the next five to 10 years,” Mr. Stickler said.

For the full story, see:

Tita, Bob. “Paper-Thin Steel Used to Power EVs Is in Short Supply.” The Wall Street Journal (Tuesday, March 28, 2023): B1-B2.

(Note: ellipses added. The online version is longer, but the passages quoted above appear in both versions.)

(Note: the online version of the story has the date March 27, 2023, and has the title “The Paper-Thin Steel Needed to Power Electric Cars Is in Short Supply.”)

So-Called “Inflation Reduction Act” Mandates Pharma Firms Dishonestly Say They Voluntarily Negotiated Prices

(p. A15) The pharmaceutical company Merck claims in a lawsuit filed this week that the “Drug Price Negotiation Program for Medicare,” part of last summer’s Inflation Reduction Act, is an unconstitutional taking of company’s property and a violation of the company’s freedom of speech. If successful, this lawsuit will prevent the unconstitutional practice of forcing drug companies to sell drugs to the U.S. government at a government-determined price.

To make the provision of the 2022 law constitutional, Congress could have imposed price controls, or it could have bargained with pharmaceutical companies using the massive marketing power of Medicare, which accounts for some half of all American drug spending. Instead, Congress tried to prevent pharmaceutical companies from walking away from any potential deal. Under the act, secret negotiations force pharmaceutical companies to agree to government-determined prices amounting to massive discounts off market-based prices, under the threat of crippling taxes and penalties.

Americans tend to support pharmaceutical “price negotiations,” but oppose “price controls.” Knowing this, Congress set up a ruse.

. . .

. . ., the law essentially requires a company to communicate that it agreed to the set price—compelled speech that is prohibited by the First Amendment. Time and again, the Supreme Court has declared forced speech beyond the power of the government. The government’s only seeming interest is to pretend that a system of unilateral price controls and mandated sales is actually a system of voluntary negotiations.

For the full commentary, see:

Daniel E. Troy. “An Unconstitutional Offer Drug Companies Can’t Refuse.” The Wall Street Journal (Friday, June 9, 2023): A15.

(Note: ellipses added.)

(Note: the online version of the commentary has the date June 8, 2023, and has the same title as the print version.)