CNBC: Uber rolls out driverless robotaxis in Abu Dhabi
https://www.cnbc.com/2025/11/26/uber-robotaxi-uae-driverless.html
CNBC: Uber rolls out driverless robotaxis in Abu Dhabi
https://www.cnbc.com/2025/11/26/uber-robotaxi-uae-driverless.html
CNN: Trump threatens to sue BBC as broadcaster faces ‘fight for its survival’
https://www.cnn.com/2025/11/10/media/bbc-trump-edit-lawsuit-turness-davie-media
BBC boss and head of news quit after Trump documentary edit criticism Published Sun, Nov 9 20251:21 PM ESTUpdated Sun, Nov 9 20256:43 PM EST
https://www.cnbc.com/2025/11/09/britain-bbc-tim-davie-resign-trump.html
Scandal Over Trump's Edited January 6 2021 Capitol Speech | Top BBC Leaders Resign | N18G
https://www.youtube.com/watch?v=A5ggxQYZWyM
11/10 (IN-CLASS): Lesson 5 / Part 2 / Video 1 (SP2)
11/10 (IN-CLASS): Lesson 5 / Part 2 / Video 2 (SP2)
11/10 (IN-CLASS): Lesson 5 / Part 2 / Video 3 (SP2)
11/10 (IN-CLASS): Lesson 5 / Part 2 / Video 4 (SP2)
11/10 (IN-CLASS): Merging code from Prep guide
SAS Prep guide
https://drive.google.com/file/d/1Qis5UsAoc-5SlVOfKkzz-yA5kWhWXu0G/view?usp=sharing
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For Badge, complete all quizzes at 80% or higher
https://learn.sas.com/course/view.php?id=235
It will tell you that you will receive digital copy in email:
THIS IS SUFFICIENT - you can simply create PDF of your email and upload to Canvas or take screenshot.
Flight disruptions from shutdown worsen; Delta, United offer extra pay to crew flights
https://www.cnbc.com/2025/11/10/government-shutdown-flight-delays-cancellations.html
AIRLINES Private-jet demand is on the rise amid government shutdown, says Flexjet CEO PUBLISHED MON, NOV 10 20259:12 AM ESTUPDATED 25 MIN AGO thumbnail Leslie Josephs @LESLIEJOSEPHS
https://www.cnbc.com/2025/11/10/private-jet-demand-government-shutdown.html
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That’s a really sharp question — and it touches on a few important legal and historical differences. Let’s unpack it carefully.
In 1981, President Ronald Reagan fired over 11,000 air traffic controllers who went on strike with the union PATCO. He did this because:
Federal law (the Taft–Hartley Act and 5 U.S.C. §7311) prohibits federal employees from striking.
Reagan gave them 48 hours to return to work; when they didn’t, he terminated their employment and banned them from federal service (a ban later lifted under Clinton).
So Reagan acted under existing law against striking federal workers — not during a government shutdown, but during an illegal strike.
A shutdown happens when Congress fails to pass funding, not when workers strike. During a shutdown:
Federal employees aren’t allowed to work (except “essential” workers) because there’s no legal authority to pay them.
They’re furloughed or required to work unpaid until funding is restored.
The Antideficiency Act bars agencies from spending money Congress hasn’t appropriated.
So, unlike Reagan’s situation, employees aren’t refusing to work — the government is legally barred from employing or paying them. That means Trump (or any president) can’t fire workers for not working during a shutdown, because they’re being told by law not to work.
If Trump were president during a shutdown, his options would be more limited:
He could declare some additional employees “essential” to keep certain operations running (like air traffic control).
He could redirect or repurpose existing funds — but only within strict legal limits.
He could negotiate with Congress or use political pressure to end the shutdown.
But he couldn’t use Reagan’s 1981 approach, because that was a response to an illegal strike, not a lack of congressional funding.
In short:
No — Donald Trump (or any president) couldn’t “do what Reagan did” during a shutdown, because Reagan’s solution addressed an illegal strike, while a shutdown is a funding issue controlled by Congress. The law that stopped Reagan’s air traffic controllers doesn’t apply to shutdowns.
Would you like me to explain how a president might legally keep air traffic running during a shutdown (for instance, by reclassifying or reprioritizing essential workers)?
Excellent follow-up — and an important distinction.
Let’s break this down step-by-step:
What happened:
The Professional Air Traffic Controllers Organization (PATCO) went on strike for better pay, shorter hours, and improved working conditions.
Why it happened:
Controllers voluntarily stopped working, violating federal law, because federal workers are forbidden to strike (5 U.S.C. § 7311).
Reagan’s response:
He ordered them back to work, and when they refused, he fired over 11,000 controllers and banned them from federal service.
Impact on airlines:
About half of the nation’s air traffic control system was suddenly understaffed.
The FAA reduced the number of flights allowed to maintain safety.
Airlines saw fewer flights, delays, and temporary service disruptions, but operations continued using supervisors, military controllers, and replacements.
Within months, air travel stabilized.
→ Summary: Airlines were affected by a labor shortage caused by a strike, not a lack of funding.
What happens:
When Congress fails to pass a funding bill (appropriations), the Antideficiency Act requires many federal operations to stop because they can’t legally spend money.
Who’s affected:
“Non-essential” federal workers are furloughed (temporarily laid off).
“Essential” workers — such as air traffic controllers, TSA officers, and FAA safety inspectors — must keep working, but without pay until the shutdown ends.
Impact on airlines:
Flights generally continue operating, since air traffic controllers and TSA keep working.
However, unpaid workers often call in sick, creating staffing shortages and long security lines.
Training, certification, and inspections (non-emergency FAA functions) are paused, which can delay new routes, aircraft certifications, or safety reviews.
Extended shutdowns can cause airline scheduling chaos, delays, and economic ripple effects, even if planes keep flying.
→ Summary: Airlines are affected by disruptions due to unpaid or furloughed federal workers, not by an illegal strike or mass firing.
| Aspect | Reagan’s 1981 Crisis | Government Shutdown |
|---|---|---|
| Cause | Illegal strike by air traffic controllers | No funding from Congress |
| Legal Authority | Workers broke the law; Reagan fired them | Law forbids paying workers without funding |
| Workers’ Status | Striking voluntarily | Forced furlough or unpaid work |
| President’s Options | Fire, replace, or negotiate | Classify as “essential,” pressure Congress |
| Airline Impact | Sudden but fixable staffing shortage | Ongoing disruptions, slower operations |
In short:
Under Reagan, the problem was workers refusing to work — so he used executive authority to replace them.
During a shutdown, the problem is workers can’t be paid — and only Congress can fix that by restoring funding.
Airlines keep flying during a shutdown, but face delays, morale issues, and operational bottlenecks, not the outright collapse risk seen in 1981.
Would you like me to show how a long shutdown (say, over 3 weeks) might start to impact air travel safety or scheduling based on recent examples like 2019?
AI companies are downplaying amount of energy and capital they need, Joe Lonsdale says
Nvidia CEO Jensen Huang says AI is in a ‘virtuous cycle.’ Here’s what he means
https://www.cnbc.com/2025/10/31/nvidia-ceo-jensen-huang-says-ai-has-reached-a-virtuous-cycle.html
Boeing stems cash burn for first time since 2023 but takes $4.9 billion charge on 777X delays
https://www.cnbc.com/2025/10/29/boeing-ba-3q-2025-earnings.html
Spencer Banzhaf: https://spencerbanzhaf.wordpress.ncsu.edu/
I forgotten to mention that tomorrow Economics Department has a Symposium and I welcome you to attend and want to give you an opportunity to show you are present with the following assignment where you upload your selfie:
Symposium Attendance potential extra credit
Economics Symposium, tomorrow, Thursday, October 23 🕖 7:00 PM 📍 ECU Life Science Building and Biotechnology Building Room 1006
Economics LinkedIn page: https://www.linkedin.com/company/ecu-department-of-economics?trk=public_post_feed-actor-nameLinks to an external site.
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Chat GPT 2025-10-24
Yes — for most of its early history, economics focused almost entirely on goods that were bought and sold in markets. Value was thought to be revealed through prices, and if something had no market price (like clean air, biodiversity, national parks, or scenic beauty), it fell outside traditional economic analysis. Economists viewed these as moral or political issues, not economic ones.
The turning point began in the early 20th century, but became mainstream only after 1950s–1970s.
| Economist / School | Revolutionary Idea | Key Contribution |
|---|---|---|
| Arthur Pigou (1920) | Externalities | Showed that some costs/benefits are not reflected in market prices, laying groundwork for valuing pollution, public goods |
| Harold Hotelling (1949) | Valuing public lands | Proposed methods for valuing national parks based on people’s travel costs (Travel Cost Method) |
| Ronald Coase (1960) | Property rights | Demonstrated that environmental goods could be valued through bargaining even when no market exists originally |
| John Krutilla (1967) | "Conservation Reconsidered" | Argued that nature has economic value even without use, introducing idea of existence value |
| Clive Granger and later economists (1960s–80s) | Contingent valuation | Developed survey-based methods to measure people’s willingness to pay for non-market goods |
| Elinor Ostrom (1990s) | Common pool resources | Showed the economic value and governance possibilities of resources without market pricing |
John Krutilla's 1967 paper "Conservation Reconsidered" is often considered the birth of modern environmental economics. His radical claim:
"A person may derive satisfaction from knowing that a natural environment exists, even if they never visit it or use it."
This was a new economic category: existence value — value without consumption.
If there was no market, economists assumed no value could be measured.
Nature was seen merely as input for production, not as a source of utility in itself.
Economists began using survey methods, travel cost models, and hedonic pricing to infer value from people's behavior or preferences.
Environmental economics emerged as a formal subfield.
Today, ecosystem services (like pollination, flood protection, carbon storage) are routinely valued in billions of dollars.
Yes, historically economics only valued goods traded in markets.
The revolution began with Arthur Pigou's concept of externalities (1920) and came to full maturity with Harold Hotelling (1949) and John Krutilla (1967), who proved that economists can measure the value of environmental goods even if no market exists. This gave birth to environmental economics and fundamentally expanded the scope of what economics can analyze.
The truly revolutionary step was Krutilla’s idea:
Nature has economic value even if no one ever uses it.
That changed the field forever.
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QUERY: Who was the first one to attempt to put actual value on it, not just argue that it was possible and that there was value?
Great question — you're asking specifically:
Who was the first to actually attempt to measure or quantify the economic value of a non-market good, rather than just argue that such goods have value?*
Hotelling is widely credited as the first economist to propose an actual empirical method to measure the economic value of non-market goods — specifically, U.S. national parks.
In 1947, the U.S. Department of the Interior asked economists how they might justify funding for national parks.
Hotelling responded (published in 1949) with the idea that:
The value of a national park could be estimated by observing how much people spend to travel to it (gas, lodging, time).
This became known as the Travel Cost Method, which is still one of the main tools in environmental economics today.
✅ Hotelling was the first to move from philosophy to actual economic valuation using observable behavior.
Pigou (1920) talked about externalities in theory but didn't estimate actual dollar values.
Coase (1960) discussed property rights and bargaining but didn’t calculate values.
Krutilla (1967) argued for existence value but did not measure it.
Hotelling (1949) actually gave a workable method to measure a non-market good using real data.
The first serious attempt to put a numerical economic value on a non-market environmental asset (like a national park) was by Harold Hotelling in 1949.
He didn’t complete an empirical study himself, but his method directly led to Clawson & Knetsch (1966), who carried out the first full empirical valuation using the travel cost method based on Hotelling’s framework.
First to propose a practical valuation method: Harold Hotelling (1949)
First to actually implement it in a measured study: Marion Clawson and Jack Knetsch (1966)
Would you like a simplified timeline table showing how valuation evolved from theory → method → measurement?
Survey Link:
Why is an Amazon Web Services outage able to disrupt vast parts of the internet?
https://www.youtube.com/watch?v=vrg6mY5fYwo
https://www.youtube.com/watch?v=s567jUtkgEU
https://www.youtube.com/watch?v=KFvhpt8FN18
Sas Course: https://learn.sas.com/course/view.php?id=118
SAS Studio: https://welcome.oda.sas.com/
SAS Programming 1: Lesson 4, Part 2, Video 1: Demo: Using Expressions to Create New Columns
SAS Programming 1: Lesson 4, Part 2, Video 2: Using Numeric Functions to Create Columns
SAS Programming 1: Lesson 4, Part 2, Video 3: Demo: Using Character Functions
SAS Programming 1: Lesson 4, Part 2, Video 4: Demo: Using Date Functions
10/20 (IN-CLASS): Level 1: Creating New Columns and Level 2: Creating New Columns with Character and Date Functions
Amazon Web Services outage hits major websites: What we know so far as recovery begins https://www.cnbc.com/2025/10/20/amazon-web-services-outage-takes-down-major-websites.html
The following AWS services have been affected by this issue.