The New York Times has an important article on how Attention Deficit Disorder, often known as ADHD, has been ‘marketed’ alongside sales of stimulant medication to the point where leading ADHD researchers are becoming alarmed at the scale of diagnosis and drug treatment.

It’s worth noting that although article focuses on ADHD, it is really a case study in how psychiatric drug marketing often works.

This is the typical pattern: a disorder is defined and a reliable diagnosis is created. A medication is tested and found to be effective – although studies which show negative effects might never be published.

It is worth noting that the ‘gold standard’ diagnosis usually describes a set of symptoms that are genuinely linked to significant distress or disability.

Then, marketing money aims to ‘raise awareness’ of the condition to both doctors and the public. This may be through explicit drug company adverts, by sponsoring medical training that promotes a particular drug, or by heavily funding select patient advocacy groups that campaign for wider diagnosis and drug treatment.

This implicitly encourages diagnosis to be made away from the ‘gold standard’ assessment – which often involves an expensive and time-consuming structured assessment by specialists.

{ Mind Hacks | Continue reading }

The largest Bitcoin payment processor in Europe, BIPS, said last month that it was hacked and that it lost about $1 million worth of Bitcoins, including coins that were in the personal online wallets of customers. The company, which is still in business, said this week that it would be “unable to reimburse Bitcoins lost unless the stolen coins are retrieved.”

The company said that the Danish police were examining the case but added that the authorities could “not classify this as a theft due to the current nonregulation of Bitcoin.”

{ NY Times | Continue reading }

related { How the Bitcoin protocol actually works }

Banksy’s reps told LAist that the prints are counterfeit reproductions and that they were “dealing” with Walmart about them.

{ Gawker | Continue reading }

Everything at Walmart comes from China. Including their attitudes towards intellectual property rights.

{ OMG!PONIES!/Gawker | Continue reading }

This column discusses the roots of the Great Divergence between European and Asian economies. […] The Great Divergence of living standards between Europe and Asia had late medieval origins and was already well under way during the early modern period. […]

The economic history literature suggests two important shocks coinciding with the turning points identified above around 1348 and 1500.

- The Black Death – which began in western China before spreading to Europe and reaching England in 1348 – wiped out around one-third of Europe’s population within three years, and more than a half over the following century.

- Around 1500, new trade routes were opened up between Europe and Asia around the south of Africa, and between Europe and the Americas.

[…]

The Black Death of the mid-fourteenth century had quite different effects in different parts of Europe. The classic Malthusian response to such a mortality crisis is a rise in incomes for those lucky enough to survive because of an increase in the per capita endowment of land and capital for survivors.

{ Vox | Continue reading }

Woman fined $3500 for leaving a negative review online. […] Apparently, she violated a non-disparagement agreement hidden within the terms of sale.

{ Gawker| Continue reading }

twophrasebark
Just because something is in the terms of agreement does not make it legal. Or binding.

lobstr
Exactly — what’s to stop them from picking “$1,000,000″ instead of the arbitrary amount of “$3,500″ as the fine?

Sue–Asponte
Not to mention that the husband is the one that signed it so it never bound the wife. Not to mention, further, that the contract was probably void when the purpose of the agreement wasn’t fulfilled when the couple didn’t get their crap.

olal
According to reports from Techdirt, it would appear that the company didn’t even have this clause up when the woman made the order. It seems that years later, after having their rating ruined, they added this clause and then threatened these customers retroactively.

{ Gawker/Comments | Continue reading }

related { Your Phone Number Is Going To Get A Reputation Score }

{ JPMorgan is taking questions from Twitter | What exactly possesses PR people into thinking it’s a wise idea to launch live “Twitter Q&As?” }

Francis Bacon’s 1969 triptych, “Three Studies of Lucian Freud,” sold for $142.4 million at Christie’s, described as the highest price ever paid for an artwork at auction. […]

Sometime in the 1970s the three panels were sold separately. The right-hand panel was bought by a collector in Rome who spent 20 years trying to reunite the triptych. He bought the middle panel from a Paris dealer in the early 1980s. Then, in the late ‘80s, he bought the left and final panel from a collector in Japan. It is also one of just two full-length triptychs that Bacon painted of Freud — the other, from 1966, is missing.

{ NY Times | Continue reading }

previously { List of most expensive paintings }

Long ago, stock trades were reported over ticker tape, and one type of manipulation was called “painting the tape.” Traders would enter orders to give the appearance of activity in a stock to entice others to buy shares, thus pushing the price higher.

Today, a slightly more sophisticated scheme is called “banging the close,” in which transactions are made in one market at the end of the day to benefit a trader’s positions in another market, say derivatives. Same scheme, different means. […]

The growth of high-frequency trading firms and transactions executed on alternative trading systems, called dark pools, have made it more difficult to police potential manipulative conduct. High-frequency traders buy and sell millions of financial instruments but rarely hold a position for more than a day. While such trading provides greater liquidity to the markets, helping to lower costs for all investors, it can also offer new opportunities for manipulating prices. […]

Manipulation can also involve benchmark indexes, which are incorporated into a wide variety of transactions, including mortgage interest rates. When an index relies on reports provided by rival market participants, the temptation to furnish false information to affect its value can be powerful because a small shift in value can affect billions of dollars. Several large banks have already paid billions in penalties for manipulation of the London interbank offered rate, or Libor, and investigations are gaining steam into how currency prices were reported in the foreign exchange markets.

{ NY Times | Continue reading }

The future of computing, after about 2035, is adiabatic reservable hardware. When such hardware runs at a cost-minimizing speed, half of the total budget is spent on computer hardware, and the other half is spent on energy and cooling for that hardware. Thus after 2035 or so, about as much will be spent on computer hardware and a physical space to place it as will be spent on hardware and space for systems to generate and transport energy into the computers, and to absorb and transport heat away from those computers. So if you seek a career for a futuristic world dominated by computers, note that a career making or maintaining energy or cooling systems may be just as promising as a career making or maintaining computing hardware.

{ Overcoming bias | Continue reading }

Almost all rich countries are rich because they exploit technological progress. They have moved the bulk of their labor force out of agriculture and into cities, where knowhow can be shared more easily. Their families have fewer children and educate them more intensively, thereby facilitating further technological progress.

Poor countries need to go through a similar change in order to become rich: reduce farm employment, become more urban, have fewer children, and keep those children that they have in school longer. If they do, the doors to prosperity will open. And isn’t that already happening?

Let us compare, for example, Brazil in 2010 with the United Kingdom in 1960. Brazil in 2010 was 84.3% urban; its fertility rate was 1.8 births per woman; its labor force had an average of 7.2 years of schooling; and its university graduates accounted for 5.2% of potential workers. These are better social indicators than the United Kingdom had in 1960. At that time, the UK was 78.4% urban; its fertility rate was 2.7; its labor force had six years of schooling on average, and its university graduates accounted for less than 2% of potential workers.

Brazil is not a unique case: Colombia, Tunisia, Turkey, and Indonesia in 2010 compare favorably to Japan, France, the Netherlands, and Italy, respectively, in 1960. […]

So today’s emerging-market economies should be richer than today’s advanced economies were back then, right?

Wrong – and by a substantial margin. Per capita GDP at constant prices was 140% higher in Britain in 1960 than in Brazil in 2010. It was 80% higher in Japan back then than in Colombia today, 42% higher in old France than in current Tunisia, 250% higher in the old Netherlands than in current Turkey, and 470% higher in old Italy than in current Indonesia.

{ Project Syndicate | Continue reading }

Fishing operations have expanded to virtually all corners of the ocean over the past century. […] How badly are we overfishing the oceans? Are fish populations going to keep shrinking each year — or could they recover? Those are surprisingly contentious questions, and there seem to be a couple of schools of thought here.

The pessimistic view […] is that we may be facing “The End of Fish.” One especially dire 2006 study in Science warned that many commercial ocean fish stocks were on pace to “collapse” by mid-century. […]

Other experts have countered that this view is far too alarmist. […] Overfishing isn’t inevitable. We can fix it.

Both sides make valid points — but the gloomy view is hard to dismiss. […] One reason the debate about overfishing is so contentious is that it’s hard to get a precise read on the state of the world’s marine fisheries.

{ Washington Post | Continue reading }

photo { Playboy, Miss December 1971 }

Shares of Internet companies are soaring again, and signs of pre-2000 exuberance can be seen in Silicon Valley and the nearby area. Home prices in San Francisco and surrounding counties rose more than 15% in the past year. Office rents in San Francisco are 23% above their 2008 peak. […]

Pinterest, an electronic-scrapbook service that began testing ads this month, said Wednesday that it had raised $225 million from venture-capital firms. Pinterest didn’t need the money; the company said it hadn’t spent any of the $200 million it raised in February when it was valued at $2.5 billion.

The new investment values the three-year-old company at $3.8 billion, a 52% jump in eight months.

{ WSJ | Continue reading }

With every quarterly earnings call, my Twitter feed lights up with jokes about how Amazon continues to grow its revenue and make no profits and how trusting investors continue to rewards the company for it. The apotheosis of that line of thoughts is a quote from Slate’s Matthew Yglesias earlier this year: “Amazon, as best I can tell, is a charitable organization being run by elements of the investment community for the benefit of consumers.”

It’s a great quote, one that got so much play Amazon even featured it in its Annual Letter to Shareholders. But like much of the commentary about Amazon, it’s a misreading of Amazon’s business model.

[…]

If Amazon has so many businesses that do make a profit, then why is it still showing quarterly losses, and why has even free cash flow decreased in recent years?

Because Amazon has boundless ambition. It wants to eat global retail.

{ Eugene Wei | Continue reading }

Shoppers are more likely to buy a product from a different location when a pleasant sound coming from a particular direction draws attention to the item, according to a new study in the Journal of Consumer Research.

“Suppose that you are standing in a supermarket aisle, choosing between two packets of cookies, one placed nearer your right side and the other nearer your left. While you are deciding, you hear an in-store announcement from your left, about store closing hours,” write authors Hao Shen (Chinese University of Hong Kong) and Jaideep Sengupta (Hong Kong University of Science and Technology). “Will this announcement, which is quite irrelevant to the relative merits of the two packets of cookies, influence your decision?”

In the example above, most consumers would choose the cookies on the left because consumers find it easier to visually process a product when it is presented in the same spatial direction as the auditory signal, and people tend to like things they find easy to process.

{ EurekAlert | Continue reading }

A handful of technology companies from Knack.it Corp. to Evolv Inc. are doing just that, developing video games and online questionnaires that measure personality attributes in a job applicant. Based on patterns of how a company’s best performers responded in these assessments, the software estimates a candidate’s suitability to be everything from a warehouse worker to an investment bank analyst.

Welcome to hiring in the age of big data, an ambition marrying automation with analysis in the race to better allocate talent. […]

Some 3.7 million U.S. jobs went unfilled in July, even though more than 11 million Americans were looking for work, according to Labor Department figures.

“You have this enormous pool of people that’s being missed because of the way the entire industry goes after the same kinds of people, asking, did you go to Stanford, did you work at this company?” said Erik Juhl, head of talent at Vungle Inc., a San Francisco-based video advertising startup, and formerly a recruiter at Google Inc. and LinkedIn Corp. “You miss what you’re looking for, which is — what is this person going to bring to the table?”

To aid that search, Juhl this month will begin using an online video game designed to track, record and analyze every millisecond of its players’ behavior. Developed by Knack in Palo Alto, California, Wasabi Waiter places job-seekers in the shoes of a sushi server who must identify the mood of his cartoon customers and bring them the dish labeled with the matching emotion. On a running clock, they must also clear empty dishes into the sink while tending to new customers who take a seat at the bar.

{ Bloomberg | Continue reading }

photo { Dennis Hopper }

By 1790, the new republic was in arrears on $11,710,000 in foreign debt. These were obligations payable in gold and silver. Alexander Hamilton, the first secretary of the Treasury, duly paid them. In doing so, he cured a default.

Hamilton’s dollar was defined as a little less than 1/20 of an ounce of gold. So were those of his successors, all the way up to the administration of Franklin D. Roosevelt. But in the whirlwind of the “first hundred days” of the New Deal, the dollar came in for redefinition. The country needed a cheaper and more abundant currency, FDR said. By and by, the dollar’s value was reduced to 1/35 of an ounce of gold.

By any fair definition, this was another default. Creditors both domestic and foreign had lent dollars weighing just what the Founders had said they should weigh. They expected to be repaid in identical money. […]

The lighter Roosevelt dollar did service until 1971, when President Richard M. Nixon lightened it again. In fact, Nixon allowed it to float. No longer was the value of the greenback defined in law as a particular weight of gold or silver. It became what it looked like: a piece of paper.

Yet the U.S. government continued to find trusting creditors. Since the Nixon default, the public’s holdings of the federal debt have climbed from $303 billion to $11.9 trillion.

If today’s political impasse leads to another default, it will be a kind of technicality. Sooner or later, the Obama Treasury will resume writing checks. The question is what those checks will buy.

{ Jim Grant/Zero Hedge | Continue reading }

art { Luigi Serafini }

England is the only country in the developed world where the generation approaching retirement is more literate and numerate than the youngest adults, according to the first skills survey by the Organisation for Economic Co-operation and Development.

In a stark assessment of the success and failure of the 720-million-strong adult workforce across the wealthier economies, the economic thinktank warns that in England, adults aged 55 to 65 perform better than 16- to 24-year-olds at foundation levels of literacy and numeracy. The survey did not include people from Scotland or Wales.

The OECD study also finds that a quarter of adults in England have the maths skills of a 10-year-old.

{ The Guardian | Continue reading }

In the industrial revolution — and revolutions since — there was an invigoration of jobs. For instance, assembly lines for cars led to a vast infrastructure that could support mass production giving rise to everything from car dealers to road building and utility expansion into new suburban areas. But the digital revolution is not following the same path, said Daryl Plummer. “What we’re seeing is a decline in the overall number of people required to do a job,” he said.

{ ComputerWorld | Continue reading }

photo { David Campany }

To measure the degree of relatedness between populations, we used genetic distance. […] Genetic distance is like a molecular clock – it measures average separation times between populations. […] Our hypothesis is that, at a later stage, when populations enter into contact with each other, differences in cultural traits create barriers to exchange, communication, and imitation. […]

Our model implies that after a major innovation, such as the Industrial Revolution, the effect of genealogical distance should be pronounced, but that it should decline as more and more societies adopt the innovations of the technological frontier.

{ Vox | Continue reading }

{ giveitbackto.us | See also: US Government Shutdown: Good News For Patent Trolls }