Media can only be downloaded from the desktop version of this website. Share Leave a comment A type of battery first invented nearly five decades ago could catapult to the forefront of energy storage technologies, thanks to a new finding by researchers at MIT. The battery, based on electrodes made of sodium and nickel chloride and using a new type of metal mesh membrane, could be used for grid-scale installations to make intermittent power sources such as wind and solar capable of delivering reliable baseload electricity. Although the basic battery chemistry the team used, based on a liquid sodium electrode material, was first described inthe concept never caught on as a practical approach because of one significant drawback:
One of the most famous speculative bubbles in history is Batteries new bubble information technology Tulipmania —which involved people mortgaging their homes and industries to buy tulip bulbs, which they expected to resell at higher and higher prices.
These expectations were based on past increases in prices. Expected monopoly profits from expanding trade drove these bubbles. When people lost faith in those monopolies, the value of their stocks plummeted.
The bursting of this stock market bubble in ushered in the Great Depression.
Likewise, the bursting of the Japanese bubble in the s ushered in the worst recession that Japan had suffered since World War II. The Japanese bubble was driven partially by Japanese companies using the money from selling stocks for speculative purposes rather than to produce goods and services that could be sold to the public.
They argue that the ultimate goal of investment is to produce goods for consumption. If there is no one to consume what the investment produces, then there is no ultimate value gained by investing.
A bubble occurs when excessive savings leads to excessive investment that causes excessive production of goods that will not be bought due to insufficient consumption.
If everyone saves more, then the goods produced by using the increased savings will not sell, making the increased savings worthless. According to Mummery and Hobson, excessive investment is synonymous with underconsumption.
To produce sustainable growth, a correct mix must be found between savings, which is needed to finance investment, and consumption, which is needed to buy what the investment produces.
A global perspective can be added to the above analysis by noting that a correct mix of savings and consumption needs to be found on an international level. In a globalized world, countries with excess savings can export their extra savings to countries with excess consumption.
One way to export savings is by fixing the exchange rate below its true value to another currency such as the U. These mistakes can be based on overreacting, following the herd fadsdecision making by inexperienced traders, viewing investments as a gamble and enjoying the gamblingor basing future expectations solely on performance in the recent past.
Thus, many theorists either deny that bubbles occur, or they try to find a rational basis for bubbles. One explanation that denies that bubbles occur is based on the premise that asset markets adjust more quickly than goods markets. Because of this, a shock in the goods markets can create what appears to be an exaggerated reaction bubble in the asset market; however, contrary to appearances, these reactions actually involve the entire system trying to achieve a new equilibrium as quickly as possible.
Similar models have been built based on capital, money, and cash-in-advance constraints. Taking a different tack, some explanations hold that high uncertainty about the future productivity of a new technology can cause what looks like a bubble, but that it will go away once the uncertainty is eliminated.
Some explanations that attempt to find a rational basis for bubbles are based on different investors having different beliefs or information and on short-selling constraints. Simon Gilchrist, Charles P. Himmelberg, and Gur Huberman show that, under these conditions, firms can issue new shares at inflated prices By so doing they reduce the cost of capital and increase real investment.
Furthermore, they show that even large bubbles are not eliminated in equilibrium. Despite this last group of theories, most experts agree that it is best to avoid bubbles. The chairmen of the central banks of the United States and Japan in the s Alan Greenspan and Yasushi Mieno, respectively both emphasized reducing speculative bubbles.
Other policy responses are to increase taxes on investment and, for countries with excess investment, to promote consumption. Because the rich tend to invest more than the poor and the poor tend to consume more than the rich, policies that create a more equitable income distribution help.
To the extent that some speculative bubbles are based on incomplete or misleading information, the government can play a role in improving information. Furthermore, the punishments should be severe for corporate leaders who are found guilty of misleading investors, and insider trading should be prohibited because it gives insiders an incentive to create a speculative bubble and then exit right before the bubble bursts.A new battery technology developed at MIT, based on a metal-mesh membrane and electrodes made of molten sodium, could open the way for more intermittent, renewable power sources on the grid.
Moreover, the TEM technique was used to characterize the helium bubble information of the annealed samples. Cross-sectional TEM samples were prepared by gluing the two irradiated sample surfaces, applying the method of ion milling.
Computerworld covers a range of technology topics, with a focus on these core areas of IT: Windows, Mobile, Apple/enterprise, Office . Sep 03, · New: A brand-new, unused, unopened, undamaged item in its original packaging (where packaging is applicable).
Packaging should be the same as what is found in a retail store, unless the item was packaged by the manufacturer in non-retail packaging, such as an unprinted box or plastic bag. Taking a different tack, some explanations hold that high uncertainty about the future productivity of a new technology can cause what looks like a bubble, but .
A Chinese research team has developed a novel, environmentally friendly, low-cost battery that overcomes many of the problems of lithium ion batteries (LIB).
The new aluminum-graphite, dual-ion.