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Robert Trivers, Eccentric Scientist Who Probed Human Nature, Dies at 83
A visionary evolutionary biologist, he drew comparisons to Charles Darwin with his theories on the genetic roots of seemingly detrimental behaviors like self-deception.
California’s good government dream has a nightmare flaw for state Democrats
Voters in the biggest blue state could theoretically be choosing between two Republican candidates for governor in in November — a wacky but not impossible outcome of the state’s nonpartisan primary system.
Did Scientists Just Detect an Exploding Black Hole?
An underwater observatory recently detected a startlingly energetic cosmic neutrino. One possible cause involves a phenomenon that so far exists only in theory.
Remembering Theodore “Ted” Brown, the founding director of the Beckman Institute
Theodore “Ted” Brown, the founding director of the Beckman Institute for Advanced Science and Technology and professor emeritus of Chemistry at the University of Illinois Urbana-Champaign, died Tuesday, March 24, 2026. He was 97 years old.
Epstein files shed new light on what prison officials were doing the night he died
In the years since disgraced financier Jeffrey Epstein was found dead from what was ruled a suicide in his prison cell on August 10, 2019, conspiracy theories have abounded about whether the convicted sex offender actually killed himself.
Why Vince Vaughn thinks late-night TV 'stopped being funny'
Vince Vaughn shared his hot take on the state of late-night television during an appearance on Theo Von's "This Past Weekend" podcast.
Pulitzer winner 'Fairview' is a little cloudy in its L.A. premiere
Jackie Sibblies Drury's Pulitzer Prize-winning drama "Fairview" receives its L.A. premiere at the Matrix in a Rogue Machine production directed by Oz Scott.
Vince Vaughn Calls Out Late-Night Comedians for Becoming Too Political
The actor-producer told Theo Von that the late night shows "started feeling like I was in a f***ing class I didn’t want to take."
Did Scientists Overestimate AI’s Ability To Think Like Humans?
A new wave of AI research is attempting to tackle one of psychology’s oldest questions: whether the human mind can be unified under a single theory.
A surprising foam discovery could change everyday products
Foams have long baffled scientists because liquid drains from them far sooner than theory predicts. New research shows the reason: the bubbles don’t stay put—they rearrange, opening pathways for liquid to escape. The key factor is the pressure needed to shift bubbles, not just push liquid through them. This insight reshapes how we understand foams and could improve everyday products.
Israel Thought It Could Spur Rebellion Inside Iran. That Hasn’t Happened.
President Trump’s hopes that an Israeli plan to ignite an internal uprising against Iran’s theocratic government could bring the war to a swift end have so far been dashed.
Column: Republicans fearing a midterm rout revive Islamophobia as political strategy
The latest twist on replacement theory is the idea that white Americans are in need of saving from dark-skinned "others."
Scientists Propose a Radical New Way To Detect Gravitational Waves Using Atomic Light
A new theoretical study suggests that gravitational waves may leave subtle signatures not in giant detectors, but in the light emitted by atoms.
79 Brilliant Memes That Brought Science And Humor Together
Let’s be honest—complex physics theories and mind-bending math problems can leave most of us staring blankly, wondering what just happened. But one thing most of us can understand is a good meme about them. Somehow, even the most complicated subjects become instantly relatable when they’re turned into a clever joke. And that’s exactly what we’ve got for you today, pandas. We’ve rounded up a bunch of science and math memes that take these “serious” subjects and give them a fun twist. You might no
For decades, no one listened to him… today his theory about the origin of life is intriguing scientists - Futura-Sciences
When Tibor Gánti passed away at the age of 75 on April 15, 2009, he remained largely unknown. Much of his career unfolded behind the Iron Curtain, which divided Europe for decades and limited the exchange of scientific knowledge. While his theories gained some attention during the communist era, today...
Our Universe Has Hidden Dimensions, Scientist Claims—And They’re Close Enough to Touch
The true nature of reality might be lurking just beyond our senses, according to this theory.
Business Briefs: Funding available for Rockwood storefronts
Rockwood storefront improvement grants Funds are available to freshen businesses across the Rockwood Urban Renewal Area. The storefront improvement grants aim to boost property values, improve perceptions of safety, increase […]
Joe Kent's resignation over Iran war reignites antisemitism fears and debate over Israeli influence
It was no surprise when Joe Kent showed up on Tucker Carlson’s podcast a day after quitting his counterterrorism job in President Donald Trump’s administration. But before long, the conversation moved in a different direction as Kent nodded to conspiracy theories that pro-Israel forces were behind the assassination of conservative activist Charlie Kirk.
Deputy AG Blanche defends DOJ’s work on Epstein case ahead of closed-door Hill briefing
Deputy Attorney General Todd Blanche, ahead of his appearance on Capitol Hill Wednesday, defended the Justice Department’s handling of the Epstein files and asserted it does not have new evidence to prosecute anyone for crimes related to Jeffrey Epstein, in an interview released Tuesday that forced him to face theories plaguing the department.
Scientists Complete Schrödinger's Color Theory Over 100 Years Later
Coloring outside the lines.
The 'Science' of Global Warming Theory Just Suffered Another Big Hit
Do you fear the theory of “global warming”? If so, how deep is your fear? As in would you be willing to bet a substantial amount of your net worth that the theory is not just real, but ear
Theo Von drops out of St. Patrick's Day Parade. Here's who's joining the Irish fun on Saturday.
These new additions are riding the high from championship wins.
Why people believe conspiracy theories: A political scientist’s view
Political scientist Joseph Uscinski, a professor at the University of Miami, talks about conspiracy theories and the people who believe them. Uscinski’s research has found that conspiracy theories are not new, nor are they more prevalent than in the past. What has changed, he says, is that people at the highest echelons of power in the United States are embracing conspiracy theories, and conspiracy-mindedness is becoming more concentrated in one political party than in the past.
Hochul says new taxes could drive wealthy out of N.Y.
But Hochul said she's not against the theoretical idea of raising taxes on the rich.
Anthony J. Leggett Dies at 87; Won Nobel for Theories on Superfluids
When scientists unwittingly turned helium into a superfluid — a feat many thought was impossible — Dr. Leggett not only recognized what had happened but also explained how.
RFK Jr.’s vaccine advisers drop proposal to revisit covid-19 shot
Some members of the CDC’s vaccine advisory panel have publicly questioned the safety and manufacturing of the shots, including raising a debunked theory that DNA contaminants in the vaccines are harmful.
Universe-shaking collision of black hole and neutron star could upend our understanding of monster cosmic mergers
The catastrophic collision of a black hole and a neutron star sent ripples across the universe. New analysis of those ripples could upend a major theory about how these extreme pairs form.
Fact-checking Trump's claim that Iran has Tomahawk missiles
Although a few countries other than the U.S. have Tomahawks, none of them is engaged in fighting Iran. Tomahawk cruise missiles are manufactured by Raytheon, a U.S. company, for use by the U.S. military and international partners.
Mental health solutions for the digital age
Ask the digital natives of Gen Z about the source of their biggest mental health challenges, and most will say social media and AI.Several of the nearly 400 guests at the third annual Gen Z Wellness Summit, presented by the Friends of Semel Teen Advisory Council at UCLA on March 8, explicitly named the endless stream of content on their phones as serious stressors. “Everybody is addicted to (Tik Tok) as if they were addicted to substances,” said Jantin Asmar, 17, a senior at Virtual Academy in Antelope Valley. “We’re always chasing that dopamine. We’re expecting that dopamine rush and it’s really decaying our interactions with others.” High school student Jantin Asmar was among nearly 400 people who attended the third annual Gen Z Wellness Summit. (Photo by Sandy Cohen) Even young teens feel pressure to be on social media constantly, both to consume content and collect “likes,” said 13-year-olds Chloe and Sophia, both students at Brentwood School. “Everyone’s always on, and you miss stuff if you’re not on it,” Chloe said, adding that social media’s emphasis on appearances is leading to eating disorders: “That’s a big thing for our generation.”The incessant influx of images and updates creates expectations that “weigh teenagers down,” said Linda Kou, 16, a junior at San Gabriel High School.Even though digital spaces allow people to connect with others beyond their immediate surroundings, it doesn’t always translate to real-life community, said Kelah Morgan, 17, a senior at Animo South Los Angeles Charter High School. High school students Kelah Morgan, left, and Linda Kou, shared about the challenges presented by social media. (Photo by Sandy Cohen) “Even if you see people saying that they relate to you online, it might be hard to find people in your personal life who you see every day who you feel comfortable enough to say, ‘You see me online, but this is me in real life and what I’m actually going through,’” she said.Solutions for our digital timesThe Gen Z Wellness Summit was intentionally designed as a free, in-person gathering where young people interested in mental health from across the southland could meet in person. “Peer support is the most important element of maintaining our mental health in community,” said Helena Hansen, MD, PhD, director of UCLA’s Semel Institute for Neuroscience and Human Behavior.Keynote speakers at the summit addressed AI, social connection and self-empowerment, while breakout sessions included discussions about eating disorders, dating, substance use, phone detox and breathwork. Here are some of the day’s top takeaways:Beware of FOPO: Scott Barry Kaufman, PhD, a psychology professor at Columbia University, said that rather than FOMO, or fear of missing out, we ought to be more aware of FOPO: fear of people’s opinions. “Just think about how much your FOPO might be holding you back in your life,” Dr. Kaufman said. “And just that inner contemplation should be enough for you to change your life, because there’s so many things we don’t go after because we have debilitating FOPO.”We don’t need to feel like we’re the best – or what he called “narcissistic self-esteem” – but it’s helpful to acknowledge our own worth, recognize our good qualities and develop self-belief in the skills and talents we’ve cultivated. When we have that – dignity and self-respect, without needing everyone to like us – FOPO is less of a concern.Self-reflection is most effective in community: “When we try to self-reflect alone, we sometimes ruminate,” said Ira Bedzow, PhD, executive director of the Emory University Purpose Project. “But when we self-reflect with people that we trust … (it) allows us to hold ourselves accountable to different ways of seeing and different ways of hearing and different ways of being.”Opening up about our experiences and listening to others are skills we can develop, Dr. Bedzow said.He invited students to participate in what he called a “fishbowl exercise,” where four students sat in a small circle, surrounded by a dozen or so students forming a larger circle. Those in the inner circle answered such questions as: “What stops you from being you today?” and “What helps you feel most like you?”Within minutes, the group in the small circle (the fishbowl), were sharing intimately about their life challenges as those in the outer circle nodded in understanding.After the exercise, one participant said, “I felt like I wasn’t alone, that it wasn’t just me who feels that way.”Another remarked on how “personal” it felt to share face-to-face with others, even strangers.Don’t let AI crush your creativity: Theoretical neuroscientist Vivienne Ming, PhD, has been studying artificial intelligence for more than 20 years. And while she said “it’s reasonable to be concerned” about the fast-growing technology, it can also help humans become better problem-solvers when used strategically.“The smartest thing on the planet today are humans and machines working together creatively,” Dr. Ming said. “What gets more valuable in humans as machines get smarter? Our ability to explore the unknown.“Your unique voice is literally your value to the world … but most of us for most of our lives have been taught to not be unique,” she continued. “Be your own person. Celebrate being different. It is genuinely, measurably, truly valuable.”In a breakout session called “Phone Detox? IYKYK: Living Your Story IRL” led by Don Grant, PhD, students shared their frustrations with AI compromising academic work, art and creativity.“Art is a translation of human experience,” one participant said. “When people use AI, they diminish their own human experience.”Dr. Grant urged them, as “the last generation to remember a world before AI,” to remember the power of imagination and creativity – and to act on it.Remember that social media distorts perceptions: Stuart B. Murray, PhD, PsyD, who directs the Eating Disorders Program and Translational Research in Eating Disorders Program at UCLA, asked the students in his breakout session to take a spontaneous selfie and edit it to conform with society’s beauty standards. All 20 girls in the room immediately got to work, thickening their hair, slimming their faces, plumping their lips.“The pressure to look like what we present on social media can be crippling,” Dr. Murray said. “We now know that social media use is part of a causal pathway into an eating disorder.”Adolescents and young adults are most at risk of developing an eating disorder, he said, with one in three students on college campuses exhibiting clinically meaningful eating-disorder symptoms. More than 4 million people in California will have an eating disorder in their lifetime.Even for those who don’t develop anorexia or bulimia, the ubiquity of modified images online distorts what we consider normal, making us feel worse about ourselves. Remembering that, he and other speakers said, might inspire us to log off occasionally and spend time in the real world with people who love us as we are.
Particles may not follow Einstein’s paths after all
Physicists have long struggled to unite quantum mechanics—the theory governing tiny particles—with Einstein’s theory of gravity, which explains the behavior of stars, planets, and the structure of the universe. Researchers at TU Wien have now taken a new step toward that goal by rethinking one of relativity’s core ideas: the paths particles follow through curved spacetime, known as geodesics. By creating a quantum version of these paths—called the q-desic equation—the team showed that particles moving through a “quantum” spacetime may deviate slightly from the paths predicted by classical relativity.
Can deliberation save democracy?
By Vince Bzdek In September 2019, 523 Americans traveled to Dallas, Texas, for an experiment called “America in One Room.” The gathering was designed to test a theory: Could representative citizens deliberate productively even in an era of intense polarization? The event took place soon after the presidential primary and it focused on policy proposals […]
Can deliberation save democracy?
By Vince Bzdek In September 2019, 523 Americans traveled to Dallas, Texas, for an experiment called “America in One Room.” The gathering was designed to test a theory: Could representative citizens deliberate productively even in an era of intense polarization? The event took place soon after the presidential primary and it focused on policy proposals […]
Epstein Conspiracy Theories Are Big Business For Some Influencers
Documents meant to shed light on Jeffrey Epstein’s crimes are feeding unfounded theories online about baby farms, murder and cloning.
Electrons catapult across solar materials in just 18 femtoseconds
Electrons in solar materials can be launched across molecules almost as fast as nature allows, thanks to tiny atomic vibrations acting like a “molecular catapult.” In experiments lasting just 18 femtoseconds, researchers at the University of Cambridge observed electrons blasting across a boundary in a single burst, far faster than long-standing theories predicted. Instead of slow, random movement, the electron rides the natural vibrations of the molecule itself, challenging decades of design rules for solar materials.
‘Television and film can help model these safety measures’
Opinion, comment and editorials of the day
Your Experiences Change You—Scientists Think They Could Change Your DNA, Too
Called “Lamarckian Inheritance,” the theory suggests that those experiences can even be passed down to future generations.
Mysterious 'little red dots' discovered by James Webb telescope may be the first stars in the universe on the verge of collapse
A new study suggests that "little red dots" spied by the James Webb Space Telescope could be the universe's short-lived first generation of gigantic stars, challenging an existing theory.
When Scientists Are Dinosaurs
When Scientists Are Dinosaurs: At the paleontology conference, her new theory was shouted down
Ancient Microbes Fused Into Earth’s First Complex Cells. Scientists Just Learned What Made It Possible.
Around 1.7 billion years ago, eukaryotes—the building blocks of complex life—first appeared on Earth, and now scientists have solved a longstanding riddle about their origin.
From Quantum Spam to Quantum Minds: Why the 'Best' Revolution in Physics Is Only Getting Started
Physicist Paul Davies looks back at the past century of quantum mechanics—the most disruptive theory in the history of modern science.
A major climate hope in Antarctica just melted away
A popular climate theory suggested that melting Antarctic glaciers would release iron into the ocean, sparking algae blooms that pull carbon dioxide from the air. New field data from West Antarctica reveal that meltwater provides far less iron than scientists once believed. Instead, most of the iron comes from deep ocean water and sediments, not from the melting ice itself. The discovery raises new questions about how Antarctica influences climate change.
Analysis | Trump stirred rumors for years. Now, it’s the Clintons’ turn to speak about Epstein.
Bill and Hillary Clinton have survived decades of scrutiny and conspiracy theories. Often, their adversaries come out on the losing end.
This New Theory Upends 150 Years of Established Science
Co-authors Michael Wong and Robert Hazen share 5 key insights from their new book, Time's Second Arrow: Evolution, Order, and a New Law of Nature.
Deep in Antarctic ice, these particles can answer basic questions about the universe
A dense network of sensors is looking for the fleeting footprints of neutrinos, the most mysterious in the pantheon of known particles.
Epstein files: Truth, accountability and a million new conspiracy theories
The Epstein files were supposed to be an exercise in government transparency, but they have also spawned their own opaque subgenre of conspiracy theories.
Trump's administration is loaded with people who backed his false 2020 election claims
President Donald Trump has long spread conspiracy theories designed to explain away his 2020 election loss. Now that he's president again, Trump has stocked his administration with those who have promoted his falsehoods and in some cases helped him try to overturn his loss.
There’s Only One Electron in the Entire Universe—And It Defies Time, Controversial Theory Suggests
Could this reveal the true nature of reality?
Simulations shed light on how snowman-shaped body in Kuiper belt may have formed
Research adds weight to theory Arrokoth’s two lobes produced by gravitational collapse – and reveals process
Hegseth invited pastor who calls for Christian theocracy to lead Pentagon prayer service
A controversial pastor who supports repealing women’s right to vote and believes homosexuality should be a crime led a worship service at the Pentagon this week, saying he was invited by Defense Secretary Pete Hegseth.
Bring out the shy people: The case for politics without politicians
In a new book, political theorist Hélène Landemore argues that electoral politics is irredeemably broken but that democracy can be repaired by empowering ordinary people to govern.
Critical Curling in Cortina as Olympic Playoffs Loom
A 3-5 won/loss record is theoretically enough for a women’s DSC tiebreaker spot
Inside the Colosseum’s Passage of Commodus, where emperors once walked
One theory suggests the infamous Roman emperor survived an assassination attempt in the tunnel now open to the public.
Aliens are ‘real,’ Obama says, as Washington shrugs
The former president appeared to confirm decades-old conspiracy theories. Lawmakers say Barack Obama is simply saying what many Americans already believe.
Secrets Behind Rome's Self-Healing Concrete Leads Scientist to Launch Roman-Style Concrete Business
A scientist who figured out the secret behind ancient Rome's self-repairing concrete has recently confirmed his theory at a Pompeii building site
12 Of The Best Record Players For Audiophiles
Some say nothing sounds like a vinyl. There's enough interest in that theory to support a wide market of modern record players suitable for every audiophile.
Scientists challenge Einstein once again using light from distant galaxies
Scientists use distant gamma ray bursts to prove that light maintains its constant speed, reinforcing Einstein's theory.
'Runaway' black hole detected by the James Webb telescope adds a strange new chapter to our universe's story
Recent observations suggest that 'runaway' black holes are tumbling through the cosmos. Building on decades of theory, the discovery adds a remarkable new chapter to the story of the universe.
Supergiant Star Collapsed into Stellar-Mass Black Hole in Andromeda Galaxy
Using archival data from NASA’s NEOWISE mission along with data from other space and ground-based observatories, astronomers identified the clearest observational record yet of a massive star fading and vanishing into a black hole -- an event once theorized but rarely seen.
Rocky planet discovered in outer orbit challenges planet formation theory
Astronomers have uncovered a distant planetary system that flips a long-standing rule of planet formation on its head. Around the small red dwarf star LHS 1903, scientists expected to find rocky planets close in and gas giants farther out — the same pattern seen in our own Solar System and hundreds of others. And at first, that’s exactly what they saw. But new observations revealed a surprise: the outermost planet appears to be rocky, not gaseous.
Health chief Kennedy says he’s no germaphobe, recalls snorting cocaine off toilet seats
The Kennedy scion divulged his old drug habits on comedian Theo Von’s podcast “This Past Weekend.
Danbury OKs ‘ugly on paper’ zone change to benefit local business
"To be very frank, the petition looks ugly on paper, because we just got finished getting rid of these things,” said Theodore Haddad.
Trump’s Health secretary admits he used to snort cocaine off toilet seats
The admission came during the Health Secretary's appearance on comedian Theo Von's podcast.
TV, It’s Not Just for Humans Anymore
Videos aimed at pets are drawing millions of views. But who’s actually watching?
Life may have started as sticky goo clinging to rocks
Life may have started in sticky, rock-hugging gels rather than inside cells. Researchers suggest these primitive, biofilm-like materials could trap and concentrate molecules, giving early chemistry a protected space to grow more complex. Within these gels, the first hints of metabolism and self-replication may have emerged.
Scientists Propose Surprising Link Between Space Weather and Earthquakes
A new theoretical study explores how activity high above Earth could subtly influence processes deep within the planet’s crust. Researchers at Kyoto University are advancing a new idea about how space weather might intersect with earthquake physics. Their model asks whether changes in the ionosph
Opinion | The Left Needs a Sharper A.I. Politics
The future may put progressive theories of work and human nature to the test.
Embark Studios Is Encouraging Cooperation in ARC Raiders With New Shared Watch Event
Embark Studios launches ARC Raiders’ Shared Watch Event, rewarding players for cooperating against the ARC with cosmetics, tokens, and event progression.
Impossibly powerful 'ghost particle' that slammed into Earth may have come from an exploding black hole — and it could upend both particle physics and cosmology
A supercharged neutrino that smashed into our planet in 2023 may have been spit out by an exploding primordial black hole with a "dark charge." If true, this theory could lead to a definitive catalog of all subatomic particles and unveil the elusive identity of dark matter.
Physicists solve a quantum mystery that stumped scientists for decades
Physicists at Heidelberg University have developed a new theory that finally unites two long-standing and seemingly incompatible views of how exotic particles behave inside quantum matter. In some cases, an impurity moves through a sea of particles and forms a quasiparticle known as a Fermi polaron; in others, an extremely heavy impurity freezes in place and disrupts the entire system, destroying quasiparticles altogether. The new framework shows these are not opposing realities after all, revealing how even very heavy particles can make tiny movements that allow quasiparticles to emerge.
Something Mysteriously Powerful Slammed Into Earth in 2023. Scientists Now Have a Theory
The science here gets really dark.
Scientists discover 'levitating' time crystals that you can hold in your hand
Time crystals, a collection of particles that "tick"—or move back and forth in repeating cycles—were first theorized and then discovered about a decade ago. While scientists have yet to create commercial ...
Multidimensional Constructions of Target Groups and Their Political Implications: The Case of Immigrant (Il)Legality -
Multidimensional Constructions of Target Groups and Their Political Implications: The Case of Immigrant (Il)Legality By Kirill Zhirkov, University of Virginia, and Lauren Van De Hey, Utah State University Social construction theory postulates that policy outcomes [...]
Trump shares a racist video that depicts the Obamas as primates
President Donald Trump used his social media account to share a video about election conspiracy theories that includes a racist depiction of former President Barack Obama and his wife, Michelle Obama, as primates in a jungle.
UW’s Seidel Named to DOE’s 21-Member Office of Science Advisory Commit
While a rancher may not be thinking about Einstein’s theory of relativity when using GPS to guide his tractor through a field or the proud owner of a new iPhone may not dwell over quantum mechanics, U
Alabama Rural Health Transformation Advisory Group holds first meeting
Governor Kay Ivey announced theon Wednesday marked the first meeting of the Alabama Rural Health Transformation Advisory Group, which she established by Execu
Conservatives Boycott All Forms Of Entertainment
WASHINGTON—Decrying the un-American nature of any activity intended to provide amusement or the slightest bit of diversion, conservatives across the country announced an immediate boycott Tuesday of all forms of entertainment. “The insidious liberal bias in music, movies, literature, and television is just the tip of the iceberg,” said Nashville, TN, resident Drew Cardona, one […]
A record breaking gravitational wave is helping test Einstein’s theory of general relativity
A newly detected gravitational wave, GW250114, is giving scientists their clearest look yet at a black hole collision—and a powerful way to test Einstein’s theory of gravity. Its clarity allowed scientists to measure multiple “tones” from the collision, all matching Einstein’s predictions. That confirmation is exciting—but so is the possibility that future signals won’t behave so neatly. Any deviation could point to new physics beyond our current understanding of gravity.
Using generative AI to help scientists synthesize complex materials
Generative AI models have been used to create enormous libraries of theoretical materials that could help solve all kinds of problems. Now, scientists just have to figure out how to make them. In many ...
Dismissing 49ers’ EMF injury theory as ‘junk science’ misses the point
A power substation situated a stone’s throw from the 49ers’ practice field and training facilities is ground zero for a buzz that won’t go away as Levi’s Stadium prepares to host Super Bowl...
Theo Rossi, Mario Van Peebles & Derek Wilson Sink Teeth Into WeBros’ Vampire Island Thriller ‘Young Blood’
EXCLUSIVE: Theo Rossi, Mario Van Peebles and Derek Wilson are headlining the Ari Schlossberg directed and written vampire island feature Young Blood currently shooting in Key Largo, Florida. The trio join previously announced Myles Truitt, Madison Wolfe, Marley Aliah, Genneya Walton, Alex Aiono and Mitchell Hoog in the WeBros Entertainment production. Young Blood follows three college best friends who …
After assault on Ilhan Omar, Trump responds with another blame-the-victim conspiracy theory
President Donald Trump did it after the 2021 attack on the US Capitol. He did it after the 2022 attack on the husband of then-House Speaker Nancy Pelosi. He did it after the murder last month of filmmaker and Democratic activist Rob Reiner. And he did it again on Tuesday after an attack on another Democrat, Rep. Ilhan Omar of Minnesota.
Commentary: Farewell to Peter Duesberg, a godfather of scientific disinformation
Peter Duesberg squandered his scientific reputation by advancing a debunked theory about AIDS, but his influence on anti-vaccine activists lives on.
Investment and Statecraft: The International Politics of Sovereign Wealth Funds - Georgetown Journal of International Affairs
In 1953, Kuwait established the world’s first sovereign wealth fund to invest the country’s oil revenues and generate returns that would reduce its reliance on a single resource. Since then, over 100 separate funds have been created to preserve national wealth and ensure long-term fiscal sustainability. Today, they manage over $10 trillion in global assets. In this discussion with GJIA, political economist Kathryn Lavelle explains the increasingly novel dynamics that surround fund behavior and what the world can come to expect from their growing presence in international financial markets. GJIA: When it comes to the roles sovereign wealth funds (SWFs) play in global markets and politics, what would you say makes them unique? Kathryn Lavelle: Sovereign wealth funds (SWFs) operate on behalf of governments as investors. That in itself is a strange relationship. Within them, a core contest takes place between the state’s interests (or sovereign) part of the dynamic, and the money interests (or wealth) part of it, and these two aspects are frequently in contradiction, serving fundamentally different goals. SWFs are also quite fascinating because when you talk to the people who manage these funds, they have an interest in convincing you that the decisions are made almost exclusively on a financial basis—they really will go to great lengths to differentiate their government owners and those who make the management decisions. At the same time, these people ultimately answer to someone in power. Therefore, for most SWFs, it remains deeply unclear who is actually making the investment decisions and for what purposes. Of course, it is not always clear how other vehicles, such as hedge funds and private equity make the decisions they do, but I think what a lot of people find particularly disconcerting about SWFs is that they seem to act on behalf of people who have a different identity from their own. People who could be trying to manipulate politics and markets in a way that would have a long-term effect on their own populations. Regular investors come and go at will, and they only share an interest in profit as far as most of us understand. However, SWFs have that extra “sovereign” part right behind them that obscures their true interest. GJIA: These funds can be found in countries all across the globe, in both authoritarian states and democracies. Would you say SWFs differ in their goals and structures between regime-type? KL: It is not necessarily regime type that makes the goals and structures of SWFs different. It has to do with their economies. Let’s look at a country like China. There’s going to be a debate about exactly how to characterize the regime, but it is a country with many different kinds of sovereign wealth funds, and a particularly opaque state connection to each. At one time, some of the state-owned Chinese oil companies created specialized investment vehicles listed outside Chinese markets that excluded parts of the firms that were more associated with human rights violations. At the same time, the China Investment Corporation (CIC)—China’s largest SWF—draws a lot of concern, not necessarily because of its investment activities, but because of the dynamics of global politics. So, I wouldn’t really tie differences to regime types themselves in a wholesale way, but rather to how such funds are perceived and how they are structured. Saudi Arabia’s SWF is getting all kinds of attention for its involvement in Hollywood, and this takes me right back to when I was a student in the 1980s, when people were concerned about Japanese investment entities buying assets in Hollywood. They aren’t quite the same in financial terms, but it’s the same kind of concern about foreign investment that drives people to be suspicious, and the whole idea that “foreigners are influencing Hollywood.” This holds true across industries, and it reflects where politics are in places like the United States right now. One metric we can try to look at is transparency, where all the funds will tell you, “we are transparent.” The problem you’ll keep running into with this approach is how you value things. When trying to do comparative studies of equity markets, you’ll find that every country doesn’t use Generally Accepted Accounting Principles like we do in the United States. A fund may appear opaque politically and not want people to show what they’re invested in or what their intent with that investment is, but they could also just not be able to report it because of the way it was purchased, or the kinds of shares they purchased. There are some assets out there that really are difficult to put a monetary value on. GJIA: To what extent do domestic politics shape SWF behavior in both the investing “home” country and the recipient “host” country? KL: This depends on the type of fund present and also on the extent to which voters’ political views are able to influence the fund. For example, in a democratic home state like Norway, the SWF doesn’t invest in nuclear weapons or tobacco because of social concerns, but there is a continuing debate over whether it should invest in oil, even though that’s where most of the money comes from. The degree to which Norway will continue to make those investments, and whether they contradict the government’s overall climate goals, is an open question in Norwegian politics. Because of the way the fund’s governance is structured, it may not be easy to resolve. On the other hand, some people consider pension funds, like the State Teachers Retirement System (STRS) in Ohio, to be quasi-SWF. They have a very strict separation between the people who make up the management division and the fund owners. No teacher or professor would want to invest in things that may harm the future of their students. At the same time, a fund manager might see an opportunity in a diversified multinational corporation that offers a good return, despite it deriving part of its revenue from e-cigarettes. These contests are very apparent. Domestic politics can work in host countries too. A good example is Singapore’s SWF, Temasek, investing in Thailand’s telecommunications sector. If you study political economy, you already know that countries everywhere are uncomfortable with foreign ownership of their telecom sectors because a foreign entity could monitor or manipulate our communications with each other. In the case of Temasek, there was significant pushback from Thai citizens surrounding the deal, which went on to influence national political sentiment toward Singapore as a whole, underscoring the risks some SWFs may face with their investment choices. In this case, fund behavior led to the dissolution of the entire Thai government in 2006 and a subsequent coup d’état. GJIA: To address some of this unease, the Santiago Principles were established in 2009 to ostensibly promote trust and transparency. From your perspective, have these mechanisms actually changed fund behavior? KL: In international relations theory, we always like to have a clear set of norms and best practices—the orientation we want the proverbial ship to be going in. In that regard, the Santiago Principles at least got the discussion going about which direction SWFs should take at a time when people were very skittish about the growing size of these funds. Nobody wanted them to be out there and potentially destabilizing economies, so talks about disclosure, conditions for withdrawal, and the independence of managers were helpful when initiated. The biggest stumbling block was that there wasn’t exactly a good way to measure compliance with the Principles, let alone how to hold funds to them. If you read the Principles, they’re overall quite vague. In general, a fund doesn’t want to reveal how and why they make certain investment decisions because that information is proprietary—a fund makes money off of how and why it makes decisions—so how do you reconcile that with loosely-defined ideas of openness? Some decisions might have a political purpose. The bottom line is that trying to figure out and assign a score to compliance is not easy, and it is therefore the reason why the Santiago Principles never really got off the ground to the point where they could truly direct fund behavior. GJIA: Many emerging markets are looking to build their own SWFs from mineral and oil revenues. Historically, have funds shaped development trajectories in these countries? KL: I think the big story in international emerging markets investment is that the investment is increasingly no longer unidirectional. In the past multinational corporations of primarily Western background were the main form of foreign direct investment in a country. That has changed dramatically, to the point where you have companies from so-called “developing countries” taking over companies in the United States. Therefore, the landscape of international investment has changed, and I think SWFs are certainly a possibility to be the next step in the game. Historically, you didn’t need an entire financial vehicle to reinvest commodity revenues in your country, but as emerging markets get more financially sophisticated, their capacity to operate such funds has increased. SWFs would allow treasuries to move from relying on holding foreign exchange assets like cash or government bonds to having broader financial markets and targeted growth areas, while easing pressure on welfare expenditures. GJIA: With their increasing financial weight, do you see the presence of SWFs being a factor in the political choices leaders will have to make with regard to domestic and foreign policy? KL: It will depend on just how big the funds get. One of the reasons people are already apprehensive is because of their scale, and if certain SWFs in certain countries achieve a large-enough size, the presence will absolutely be cause for concern. The other factor political leaders will have to consider are their objectives. It’s not always clear how to define a SWF, or even where its activity is concentrated, but it is certainly a worry from the perspective of national security of opaque external investment. More than that, I think one of the most interesting questions going forward is whether the United States, the home to the world’s largest financial markets, will develop its own fund, for which the Trump administration announced a plan. There have also been several proposals in Congress. Were it to come into being, it would have tremendous weight. At the same time, one of the hallmarks of U.S. capitalism is a lack of government ownership of shares, so it would not be clear how such a fund would be received in domestic politics, or which direction it would take. Given how politically fragmented the country is, a Democratic administration would likely be concerned about different sectors of the economy, such as healthcare, and want investment there, rather than a Republican administration, which might prefer defense industries. No investment vehicle could thrive under conditions of such instability. Moreover, it remains unclear where the money to fund a theoretical U.S. SWF would come from. It would be a fundamentally different entity depending on whether it is financed with debt, economic surplus, commodities, or the sale of state companies, as in the case of Singapore. If it is debt, or government borrowing of some form, then the fund would have to outperform whatever the cost of that debt is, which is not an easy thing to do. I think our political leaders have enough on their plate. Our system has worked well keeping political and investment functions generally separate. We have seen different forms of business rise and fall, and even the perception of different countries, all of which funds are tied to. Unless a major SWF either starts—like in the case of the United States—or collapses—an issue that concerns the Saudis, I don’t see any political tsunamis on the horizon. . . . Kathryn Lavelle is the Ellen and Dixon Long Professor of World Affairs at Case Western Reserve University in Cleveland, Ohio. Her research explores the exchange between domestic and international and political institutions with a particular emphasis on political economy and multilateralism. Dr. Lavelle’s first book, The Politics of Equity Finance in Emerging Markets, explored the political circumstances that surround large issues of stock in the developing world. After being granted tenure at Case Western, she was awarded an American Political Science Association Congressional Fellowship and named the William A. Steiger fellow, a designation given to the most promising political scientist in her class of fellows. While in Washington during 2006-2007, she worked on the staff of the House Committee on Financial Services on issues related to domestic and international monetary policy. Dr. Lavelle holds a PhD in political science from Northwestern University; an M.A. in government and foreign affairs from the University of Virginia; and a bachelor’s degree in international economics from Georgetown University. She is a permanent member of the New York Council on Foreign Relations. This transcript has been lightly edited for clarity and length. Interview conducted by Sid Mehrotra. Image Credit: Jason Leung, Unsplash Content Licenses, via Unsplash
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