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Charter schools do things that all Democrats say they support

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A year ago New York’s governor, Kathy Hochul, a Democrat, proposed to adjust a state cap on charter schools, the publicly funded but privately run schools that have become a locus of innovation and controversy in American education. Ms Hochul’s plan was not ambitious, but it would have allowed dozens of new charter schools to open in New York City, where they already attract about 15% of public-school students and where thousands of families languish on waiting lists. But the governor’s plan drew fervent protests from fellow Democrats, including state legislators aligned with teachers’ unions. After a bruising fight, the governor had to settle last autumn for a small increase.

The row reflected a discouraging change in the politics of charter schools. Once a topic of unusual bipartisan enthusiasm, the schools have become divisive, particularly among Democrats. Barack Obama campaigned on charter-school expansion in 2008, but Joe Biden declared in 2020 that he was not enamoured of them. (His administration has nonetheless maintained federal funding for charters.) Republicans are more favourably inclined overall, and Donald Trump increased support during his presidency. But Republican priorities have shifted since George W. Bush, as president, and his brother Jeb, as governor of Florida, championed charters as beacons of racial equity. These days Republicans prioritise vouchers that allow parents to use taxpayer funds to enroll children in religious schools.

The relative neglect of charters comes just as fresh evidence has arisen that they are successful. Last June a comprehensive new study emerged from Stanford University. It is the latest of three national studies carried out over two decades by the Centre for Research on Education Outcomes (CREDO). The first study analysed 13 states and three big cities between 2000 and 2008 by comparing charter pupils with peers in other public schools. On average charter pupils performed worse in reading and maths. This was hardly inspiring. Four years later, a follow-up study had mixed results: charter pupils performed better in reading but worse in maths.

Image: The Economist

Fast forward to June’s study, which used data from 2014 to 2019. Its results show a positive trajectory over time (see chart). In all 31 geographic locations studied (29 states, New York City and the District of Columbia), pupils in charters outperformed their traditional public-school peers, on average. Pupils gained the equivalent of six days of learning in maths and 16 days in reading each year. “We don’t see a revolution,” says Macke Raymond, the lead researcher of the Stanford studies. “We are seeing thousands of [charter] schools getting a little bit better every year.” Other recent studies, such as research by Douglas Harris at Tulane University and investigators at the University of Arkansas, also report positive results.

This is a departure not just from past findings of CREDO but also from the broader patterns of past research. During the 1990s and early 2000s, as the charter movement gathered momentum, Democrats and Republicans promoted the innovation more from instinct or a preference for parental choice than on the basis of evidence. It can be hard to study how particular schools shape educational outcomes, since so many other factors—economic circumstance and parental educational attainment, for example—are influential. Early studies often delivered mixed results. Research was like a Rorschach test: stakeholders interpreted new studies according to their own biases.

The latest CREDO report provides clear evidence of success and also describes which types of charter schools seem to be working best. Larger charter management organisations (cmos in the jargon), which run multiple schools at a time, have stronger results on average than stand-alone charters. There were also hundreds of successful charters where disadvantaged pupils (black, Hispanic, poor pupils or English-learners) performed similarly to or better than their more advantaged peers.

Charter enrolment is growing and the schools’ impact on American children is substantial. In 2021 about 4m public-school pupils studied in charters, more than double the number enrolled back in 2010. Forty-five states and the District of Columbia allow them. In Chicago, where 15% of public-school students enroll, black and Hispanic families are disproportionately represented, as is typical in cities that offer them. In poverty-stricken Philadelphia, a third of public-school children are educated in charters.

Republican support for charters reflected a preference for parental choice among right-leaning politicians, but the policy did not pay clear dividends at election time, since the schools had the most impact in big cities, which are often dominated by Democrats. Vouchers offer political benefits because they are attractive to religious, home-schooling and suburban voters. Amid great fanfare, Arizona, Arkansas, Florida and other Republican-led states have passed laws allowing parents to use vouchers to direct public dollars to private schools they choose, including religious ones, or for other educational assistance. “Republicans have long been supportive of charter schools even though most of their constituents do not attend,” says Michael Petrilli of the Fordham Institute, a think-tank. However, school-choice plans “can result in money actually in the pockets of Republican constituents…and so I think that has obvious appeal.”

Mr Trump has seized on school choice as a campaign issue for 2024. He hopes to tap into the emotional “parents’ rights” movement visible in the form of shouting matches at school-board meetings, as conservative parents have lately battled teaching about DEI and trans rights while their liberal opponents seek curriculums they regard as inclusive and essential.

Democrats have no obvious parent-friendly education policy to promote now they have turned away from charter-school expansion. According to a survey by Education Next, a journal, while 55% of Republicans support charter schools, only 38% of Democrats do. More white Democratic voters oppose charters than do non-white Democratic voters. Many of the white respondents say they fear charters undermine racial equity, which may surprise the black and Hispanic voters whose children are flourishing in them.

Economics

Renewable Energy Tech and Advancements in Storage Solutions

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Renewable Energy Tech and Advancements in Storage Solutions

The global push for sustainable energy has spotlighted renewable energy technologies and advanced storage solutions. These innovations are pivotal in reducing reliance on fossil fuels, mitigating climate change, and ensuring a reliable energy supply. From solar panels and wind turbines to cutting-edge battery storage systems, the renewable energy sector has made remarkable progress. This article explores the latest advancements in renewable energy technologies and the evolution of energy storage solutions.


Advances in Renewable Energy Technologies

  1. Solar Power Innovations
    Solar energy remains a cornerstone of the renewable energy sector. Advances in photovoltaic (PV) technology, such as bifacial solar panels, have significantly increased efficiency. These panels capture sunlight from both sides, generating more power from the same area. Additionally, thin-film solar cells, made from lightweight and flexible materials, are expanding the applications of solar power in urban areas and portable devices.
  2. Wind Energy Developments
    Wind turbines have become taller and more efficient, capturing wind at higher altitudes where it is stronger and more consistent. Offshore wind farms are also gaining traction, with floating wind turbines enabling installations in deeper waters. These advancements increase energy output while reducing land use and visual impact.
  3. Hydropower and Marine Energy
    Hydropower is evolving to include smaller, modular units that can be deployed in remote areas with minimal environmental disruption. Marine energy, including wave and tidal power, is also gaining momentum. These technologies harness the consistent energy of ocean currents, providing a reliable renewable energy source.

The Role of Advanced Energy Storage Solutions

Renewable energy sources like solar and wind are inherently intermittent, producing energy only when the sun shines or the wind blows. Energy storage solutions bridge this gap, ensuring a stable and reliable energy supply.

  1. Lithium-Ion Batteries
    Lithium-ion batteries dominate the energy storage landscape due to their high energy density and declining costs. They are widely used in electric vehicles (EVs), residential solar systems, and grid-scale storage solutions. Innovations like solid-state batteries, which replace liquid electrolytes with solid materials, promise enhanced safety and efficiency.
  2. Flow Batteries
    Flow batteries are gaining attention for their scalability and long-duration storage capabilities. These batteries use liquid electrolytes stored in external tanks, allowing for easy scaling to meet energy demands. They are ideal for grid applications and large-scale renewable energy projects.
  3. Hydrogen Energy Storage
    Hydrogen is emerging as a versatile energy storage medium. Surplus renewable energy can be used to produce green hydrogen through electrolysis, which can then be stored and converted back into electricity or used as fuel. Hydrogen’s potential extends to industrial applications, heavy transport, and long-term energy storage.
  4. Thermal Energy Storage
    Thermal energy storage systems store heat or cold for later use, often in buildings or industrial processes. Concentrated solar power (CSP) plants use molten salt to store thermal energy, enabling electricity generation even after sunset.

Impact of Smart Grids and IoT

The integration of renewable energy and storage solutions is further enhanced by smart grid technology. Smart grids use IoT devices and AI-driven analytics to manage energy distribution efficiently. They enable real-time monitoring, demand response, and integration of distributed energy resources, ensuring optimal utilization of renewable energy and storage systems.


Challenges and Future Outlook

While renewable energy and storage technologies have made significant strides, challenges remain. High upfront costs, material shortages, and recycling concerns must be addressed for widespread adoption. However, continuous innovation, policy support, and global collaboration are driving the sector forward.

Emerging technologies like perovskite solar cells, next-generation batteries, and artificial intelligence-driven energy management systems hold the promise of a cleaner, more sustainable energy future.


Conclusion

Renewable energy technologies and advanced storage solutions are transforming the global energy landscape. From efficient solar panels and wind turbines to scalable batteries and hydrogen storage, these innovations are key to achieving energy independence and combating climate change. By investing in these technologies and integrating them with smart energy systems, we can create a resilient, sustainable energy infrastructure for generations to come.

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Accounting

Business Transaction Recording For Financial Success

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Business Transaction Recording For Financial Success

In the world of financial management, accurate transaction recording is much more than a routine task—it is the foundation of fiscal integrity, operational transparency, and informed decision-making. By maintaining meticulous records, businesses ensure their financial ecosystem remains robust and reliable. This article explores the essential practices for precise transaction recording and its critical role in driving business success.

The Importance of Detailed Transaction Recording
At the heart of accurate financial management is detailed transaction recording. Each transaction must include not only the monetary amount but also its nature, the parties involved, and the exact date and time. This level of detail creates a comprehensive audit trail that supports financial analysis, regulatory compliance, and future decision-making. Proper documentation also ensures that stakeholders have a clear and trustworthy view of an organization’s financial health.

Establishing a Robust Chart of Accounts
A well-organized chart of accounts is fundamental to accurate transaction recording. This structured framework categorizes financial activities into meaningful groups, enabling businesses to track income, expenses, assets, and liabilities consistently. Regularly reviewing and updating the chart of accounts ensures it stays relevant as the business evolves, allowing for meaningful comparisons and trend analysis over time.

Leveraging Modern Accounting Software
Advanced accounting software has revolutionized how businesses handle transaction recording. These tools automate repetitive tasks like data entry, synchronize transactions in real-time with bank feeds, and perform validation checks to minimize errors. Features such as cloud integration and customizable reports make these platforms invaluable for maintaining accurate, accessible, and up-to-date financial records.

The Power of Double-Entry Bookkeeping
Double-entry bookkeeping remains a cornerstone of precise transaction management. By ensuring every transaction affects at least two accounts, this system inherently checks for errors and maintains balance within the financial records. For example, recording both a debit and a credit ensures that discrepancies are caught early, providing a reliable framework for accurate reporting.

The Role of Timely Documentation
Prompt transaction recording is another critical factor in financial accuracy. Delays in documentation can lead to missing or incorrect entries, which may skew financial reports and complicate decision-making. A culture that prioritizes timely and accurate record-keeping ensures that a company always has real-time insights into its financial position, helping it adapt to changing conditions quickly.

Regular Reconciliation for Financial Integrity
Periodic reconciliations act as a vital checkpoint in transaction recording. Whether conducted daily, weekly, or monthly, these reviews compare recorded transactions with external records, such as bank statements, to identify discrepancies. Early detection of errors ensures that records remain accurate and that the company’s financial statements are trustworthy.

Conclusion
Mastering the art of accurate transaction recording is far more than a compliance requirement—it is a strategic necessity. By implementing detailed recording practices, leveraging advanced technology, and adhering to time-tested principles like double-entry bookkeeping, businesses can ensure financial transparency and operational efficiency. For finance professionals and business leaders, precise transaction recording is the bedrock of informed decision-making, stakeholder confidence, and long-term success.

With these strategies, businesses can build a reliable financial foundation that supports growth, resilience, and the ability to navigate an ever-changing economic landscape.

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Economics

A protest against America’s TikTok ban is mired in contradiction

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AS A SHUTDOWN looms, TikTok in America has the air of the last day of school. The Brits are saying goodbye to the Americans. Australians are waiting in the wings to replace banished American influencers. And American users are bidding farewell to their fictional Chinese spies—a joke referencing the American government’s accusation that China is using the app (which is owned by ByteDance, a Chinese tech giant) to surveil American citizens.

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