Connect with us

Economics

Will Joe Biden benefit from falling murder rates across America?

Published

on

Listen to this story.
Enjoy more audio and podcasts on iOS or Android.

Your browser does not support the <audio> element.

Few politicians talk about violence as much as Donald Trump. In early April, when the former president held his first rally since wrapping up the Republican nomination in Grand Rapids, Michigan, he came onto the stage flanked by uniformed sheriffs. America, he argued, is being overwhelmed by murderous foreigners deliberately sent by hostile governments seeking to empty their prisons at home. Gang members, Mr Trump claimed, are “hiding in bushes, actually, they say”. Overall, he argued, crime rates are “only going in one direction and it’s going to be very bad”.

Unfortunately for Mr Trump, but happily for most Americans, what data there are suggest that most crime is indeed only going in one direction—down. In March the fbi released (partial) national data showing that violent crime of all sorts dropped in cities, suburbs and rural areas alike in the final quarter of 2023. That confirmed what city-level data were already indicating by the middle of last year: that the wave of violence that started almost everywhere across America in the summer of 2020 (when Mr Trump was still president) had crested in most places in 2022. Murder, both the most damaging and the most reliably counted of all crimes, is now heading back towards pre-pandemic levels.

Last year, according to data published by the Major Cities Chiefs Association, which represents police chiefs in the United States and Canada, in the 69 American police departments covered, the total number of murders declined by roughly 10%. More recent data gathered from police departments by ah Datalytics, a private analysis firm, suggest that the total has continued to drop so far this year (see chart 1). In some big cities, such as Boston, Philadelphia and Baltimore, the size of the falls has been especially striking. The firm’s figures also suggest that even the flood of car theft that swelled last year may have begun to ebb slightly.

Chart: The Economist

Explaining why crime falls or rises is tricky. The best explanation for this fall, says Jeff Asher, of ah Datalytics, is simply the end of the pandemic. Most murders in America are the result of arguments that escalate to gunfights, typically between young men. When the virus was spreading, schools and other public services closed, and so more youngsters were pushed onto the streets. Higher levels of stress may have led to more arguments. Now things are somewhat back to normal. Added to that are a few policy changes. For example, many cities have invested plentiful federal money in “violence interrupters” who try to identify and de-escalate fights before they turn into shootings.

Will lower crime help Joe Biden win re-election? Certainly, it is better than the opposite. But the gains are likely to be limited. Polling suggests much of the public thinks crime is still rising. One of the bigger problems Mr Biden has is that police officers are generally conservative, and many are backing Mr Trump, who they think will let them continue to do their job the way they always have.

In the past few years, Republicans in general have enthusiastically hugged cops. For example, earlier this month Florida’s governor, Ron DeSantis, signed a law that criminalises “harassment” of police officers and bans civilians from “carrying out extra-judicial investigations against law enforcement”. Mr Biden, by contrast, is at least rhetorically committed to police reform. “It is a bit of a danger zone” for the president, says Neil Gross, a professor at Colby College in Maine.

Chart: The Economist

The irony is that Mr Trump’s approach seems more likely to generate crime. Under Mr Biden trust in the police has risen among Democrats (see chart 2). When police are trusted, crimes are solved, and crime rates tend to fall. When trust is destroyed—by, say, a police killing—crime rises.

Among the places that saw a rise in the murder rate last year was Memphis, Tennessee. That city was shaken up last January when a young, unarmed and innocent man, Tyre Nichols, was brutally beaten to death by plainclothes officers from a “tactical squad” who had stopped his car. Murders in Memphis have edged down this year. But last month Republicans in the state overturned a city-level ordinance intended to end such unwarranted stops. If Mr Trump wins the election, he may get more violence to talk about.

Stay on top of American politics with The US in brief, our daily newsletter with fast analysis of the most important electoral stories, and Checks and Balance, a weekly note from our Lexington columnist that examines the state of American democracy and the issues that matter to voters.

Economics

Renewable Energy Tech and Advancements in Storage Solutions

Published

on

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.

Continue Reading

Accounting

Business Transaction Recording For Financial Success

Published

on

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.

Continue Reading

Economics

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

Published

on

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.

Continue Reading

Trending