An anonymous reader shares a report:

> The volume of activity on Polymarket, one of the most popular prediction markets, has been [1]significantly inflated by so-called wash trading in which users rapidly buy and sell the same contracts, according to a new study by Columbia University researchers. The "artificial trading," as the authors call it, varied over time but accounted for an average of 25% of all buying and selling on Polymarket over the past three years, the researchers concluded.

>

> The [2]paper , which has not undergone peer review, was posted Thursday on the open-access research platform SSRN. The authors do not suggest that Polymarket itself was responsible for the wash trading, but they point to elements of the exchange's crypto-based structure that make it possible.



[1] https://www.bloomberg.com/news/articles/2025-11-07/polymarket-volume-inflated-by-artificial-activity-study-finds

[2] https://papers.ssrn.com/sol3/papers.cfm?abstract_id=5714122

Rockstar Games has announced that Grand Theft Auto VI won't launch in May of next year [1]as planned . Kotaku:

> The highly anticipated sequel is now [2]set to arrive in November 2026 . On Thursday, Rockstar announced on social media that the long-awaited next entry in its open-world blockbuster franchise would need a bit more time, delaying the game an additional six months from May to November 19, 2026.

Rockstar said "these extra months will allow us to finish the game with the level of polish you have come to expect and deserve."



[1] https://games.slashdot.org/story/25/05/02/1156254/gta-6-delayed-to-may-2026

[2] https://kotaku.com/gta-6-grand-theft-auto-vi-delayed-november-rockstar-games-2000641787

An anonymous reader shares a report:

> The Netherlands is prepared to [1]suspend its powers over Chinese-owned chipmaker Nexperia in a move that would de-escalate a fight with Beijing that threatens to disrupt automotive production around the world. The Dutch government is ready to shelve the ministerial order that gave it the power to block or change key corporate decisions at Nexperia, if China allows exports of its critical chips again, according to people familiar with the matter.

>

> If the shipment of supplies resumes and is verified in the coming days, the Dutch are willing to revoke its powers as soon as next week, said the people, who spoke on the condition of anonymity. Financial issues between Nexperia and its Chinese operations would also need to be resolved. [...] In a sign of easing tensions, the Dutch government said in a statement late Thursday that it expects Nexperia's Chinese unit to resume chip supplies in the coming days.



[1] https://www.msn.com/en-us/money/other/dutch-ready-to-drop-nexperia-control-if-chip-supply-resumes/ar-AA1PYwjj

An anonymous reader quotes a report from BleepingComputer:

> The U.S. Congressional Budget Office (CBO) [1]confirms it suffered a cybersecurity incident after a suspected foreign hacker breached its network, potentially exposing sensitive data. In a statement shared with BleepingComputer, CBO spokesperson Caitlin Emma confirmed the "security incident" and said the agency acted quickly to contain it. "The Congressional Budget Office has identified the security incident, has taken immediate action to contain it, and has implemented additional monitoring and new security controls to further protect the agency's systems going forward," Emma told BleepingComputer.

>

> "The incident is being investigated and work for the Congress continues. Like other government agencies and private sector entities, CBO occasionally faces threats to its network and continually monitors to address those threats." The Washington Post [2]first reported the breach, stating that officials discovered the hack in recent days and are now concerned that emails and exchanges between congressional offices and the CBO's analysts may have been exposed. While officials have reported told lawmakers they believe the intrusion was detected early, some congressional office have allegedly halted emails with the CBO out of security concerns.



[1] https://www.bleepingcomputer.com/news/security/us-congressional-budget-office-hit-by-suspected-foreign-cyberattack/

[2] https://www.washingtonpost.com/business/2025/11/06/cbo-hack-congress-foreign/

The Scandinavian furniture giant has [1]unveiled 21 new ultra-affordable Matter-over-Thread smart home devices across three launch segments: lighting, sensors, and control. With prices starting at just a few dollars, Ikea is pushing hard to replace its old Zigbee lineup and become a serious player in the Matter ecosystem. Forbes reports:

> Back to the 21 new devices specifically and they are all native Matter ones though, so you don't actually need Ikea's hub to get involved, as Matter controllers from other brands will be able to sync them up to your existing smart home platform as well; provided that Matter controller also doubles up as a Thread border router. The good news is that many existing devices you may already have in your house - think Apple HomePod mini, Google Nest Hub Max, most of the recent Amazon Echo range, SmartThings hubs and even some Eero routers - all do.

>

> This being Ikea, there are some quirky names involved... the new lineup starts with the Kajplats smart bulb range, with eleven bulbs in total, covering everything from compact spotlights to large decorative globes. They come in a mix of shapes, brightness levels, and finishes, with options for full-color control or just tunable white light. Ikea says each model now offers a wider intensity range and smoother dimming compared to the outgoing Tradfri lineup.



[1] https://www.forbes.com/sites/paullamkin/2025/11/06/ikeas-big-smart-home-push-arrives-with-21-new-matter-devices/

In a recent article published in the New York Times, author Casey Michael Henry argues that today's tech industry [1]keeps borrowing dystopian sci-fi aesthetics and ideas -- often the parts that were meant as warnings -- and repackages them as exciting products without recognizing that they were originally cautionary tales to avoid. "The tech industry is delivering on some of the futuristic notions of late-20th-century science fiction," writes Henry. "Yet it seems, at times, bizarrely unaware that many of those notions were meant to be dystopian or satirical -- dismal visions of where our worst and dumbest habits could lead us." Here's an excerpt from the report:

> You worry that someone in today's tech world might watch "Gattaca" -- a film that features a eugenicist future in which people with ordinary DNA are relegated to menial jobs -- and see it as an inspirational launching point for a collaboration between 23andMe and a charter school. The material on Sora, for instance, can feel oddly similar to the jokes about crass entertainment embedded in dystopian films and postmodern novels. In the movie "Idiocracy," America loved a show called "Ow! My Balls!" in which a man is hit in the testicles in increasingly florid ways. "Robocop" imagined a show about a goggle-eyed pervert with an inane catchphrase. "The Running Man" had a game show in which contestants desperately collected dollar bills and climbed a rope to escape ravenous dogs. That Sora could be prompted to imagine a game show in which Michel Foucault chokeslams Ronald Reagan, or Prince battles an anaconda, doesn't feel new; it feels like a gag from a 1990s writer or a film about social decay.

>

> The echoes aren't all accidental. Modern design has been influenced by our old techno-dystopias -- particularly the cyberpunk variety, with its neon-noir gloss and "high tech, low life" allure. From William Gibson novels to films like "The Matrix," the culture has taken in countless ruined cityscapes, all-controlling megacorporations, high-tech body modifications, V.R.-induced illnesses, deceptive A.I. paramours, mechanical assassins and leather-clad hacker antiheroes, navigating a dissociative cyberspace with savvily repurposed junk-tech. This was not a world many people wanted to live in, but its style and ethos seem to reverberate in the tech industry's boldest visions of the future.



[1] https://www.nytimes.com/2025/11/05/magazine/ai-tech-industry-sora-science-fiction.html

Mark Zuckerberg [1]opened an unlicensed school named after the family's pet chicken -- and it was the final straw for his neighbors, writes Slashdot reader [2]joshuark , citing a report from Wired. The magazine obtained 1,665 pages of documents about the neighborhood dispute -- "including 311 records, legal filings, construction plans, and emails." Here are excerpts from the report:

> The documents reveal that the school may have been operating as early as 2021 without a permit to operate in the city of Palo Alto. As many as 30 students might have enrolled, according to observations from neighbors. [...] Over time, neighbors became fed up with what they argued was the city's lack of action, particularly with respect to the school. Some believed that the delay was because of preferential treatment to the Zuckerbergs. "We find it quite remarkable that you are working so hard to meet the needs of a single billionaire family while keeping the rest of the neighborhood in the dark," reads one email sent to the city's Planning and Development Services Department in February. "Just as you have not earned our trust, this property owner has broken many promises over the years, and any solution which depends on good faith behavioral changes from them is a failure from the beginning." [...]

>

> In order for the Zuckerbergs to run a private school on their land, which is in a residential zone, they need a "conditional use" permit from the city. However, based on the documents WIRED obtained, and Palo Alto's public database of planning applications, the Zuckerbergs do not appear to have ever applied for or received this permit. Per emails obtained by WIRED, Palo Alto authorities told a lawyer working with the Zuckerbergs in March 2025 that the family had to shut down the school on its compound by June 30. [...] However, Zuckerberg family spokesperson Brian Baker tells WIRED that the school didn't close, per se. It simply moved. It's not clear where it is now located, or whether the school is operating under a different name. [...] Most of the Zuckerbergs' neighbors did not respond to WIRED's request for comment. However, the ones that did clearly indicated that they would not be forgetting the Bicken Ben saga, or the past decade of disruption, anytime soon.



[1] https://www.wired.com/story/mark-zuckerberg-school-palo-alto-shut-down/

[2] https://slashdot.org/~joshuark

[1]alternative_right shares a report from The Conversation:

> Countries around the world have been discussing the need to rein in climate change for three decades, yet global greenhouse gas emissions -- and global temperatures with them -- keep rising. When it seems like we're getting nowhere, it's useful to step back and examine the progress that has been made. Let's take a look at the United States, historically the world's largest greenhouse gas emitter. Over those three decades, the U.S. population soared by 28% and the economy, as measured by gross domestic product adjusted for inflation, more than doubled. Yet U.S. emissions from many of the activities that produce greenhouse gases -- transportation, industry, agriculture, heating and cooling of buildings -- [2]have remained about the same over the past 30 years .

>

> Transportation is a bit up; industry a bit down. And electricity, once the nation's largest source of greenhouse gas emissions, has seen its emissions drop significantly. Overall, the U.S. is still among the countries with the highest [3]per capita emissions , so there's room for improvement, and [4]its emissions (PDF) haven't fallen enough to put the country on track to meet its pledges under the 10-year-old Paris climate agreement. But U.S. [5]emissions are down about 15% over the past 10 years.

The report mentions how the U.S. managed to replace coal with cheaper, more efficient natural-gas plants while rapidly scaling wind, solar, and battery storage as their costs fell. At the same time, major gains in appliance, lighting, and building efficiency flattened per-capita power use. This also coincided with improved vehicle fuel economy that helped keep transportation emissions in check.



[1] https://slashdot.org/~alternative_right

[2] https://theconversation.com/how-the-us-cut-climate-changing-emissions-while-its-economy-more-than-doubled-268763

[3] https://ourworldindata.org/co2-and-greenhouse-gas-emissions

[4] https://unfccc.int/sites/default/files/2024-12/United%20States%202035%20NDC.pdf

[5] https://www.epa.gov/ghgemissions/inventory-us-greenhouse-gas-emissions-and-sinks

[1]BrianFagioli writes:

> Google has [2]released Magika 1.0, a stable version of its AI-based file type detection tool, and rebuilt the entire engine in Rust for speed and memory safety. The system now recognizes more than 200 file types, up from about 100, and is better at distinguishing look-alike formats such as JSON vs JSONL, TSV vs CSV, C vs C++, and JavaScript vs TypeScript. The team used a 3TB training dataset and even relied on Gemini to generate synthetic samples for rare file types, allowing Magika to handle formats that don't have large, publicly available corpora. The tool supports Python and TypeScript integrations and offers a native Rust command-line client.

>

> Under the hood, Magika uses ONNX Runtime for inference and Tokio for parallel processing, allowing it to scan around 1,000 files per second on a modern laptop core and scale further with more CPU cores. Google says this makes Magika suitable for security workflows, automated analysis pipelines, and general developer tooling. Installation is a single curl or PowerShell command, and the project remains fully open source.

The project is available [3]on GitHub and documentation can be found [4]here .



[1] https://slashdot.org/~BrianFagioli

[2] https://opensource.googleblog.com/2025/11/announcing-magika-10-now-faster-smarter.html

[3] https://github.com/google/magika

[4] https://securityresearch.google/magika/

According to the [1]Wall Street Journal , Ford executives are [2]considering scrapping the electric version of the F-150 pickup truck as losses, supply setbacks, slow sales, and the arrival of a cheaper midsize EV truck undermine the business case for its full-size electric pickup. Reuters reports:

> Last month, a union official told Reuters that Ford was pausing production at the Dearborn, Michigan, plant that makes its F-150 Lightning electric pickup due to a fire at a supplier's aluminum factory. "We have good inventories of the F-150 Lightning and will bring Rouge Electric Vehicle Center back up at the right time, but don't have an exact date at this time," Ford said in a statement on Thursday.

>

> The WSJ report added that General Motors executives have discussed discontinuing some electric trucks, citing people familiar with the matter. The Detroit three, which includes Ford, GM and Chrysler-parent Stellantis, have rolled back their ambitious plans for EVs in the United States, pivoting to their gasoline-powered models.



[1] https://www.wsj.com/business/autos/ford-150-lightning-ev-decision-89dc0d84?gaa_at=eafs&gaa_n=AWEtsqdci6OFPfEpaoFGiIzGEt6eMuCA6rcBEkSoeum5lj3EjgIGnFpM67pt&gaa_ts=690d38b9&gaa_sig=7OdFP1SuAtH4i3cORXVHKLevaKrsh3f12n49fEiQn54cswRguqXjKD-LNEH2xim7lFAayGRSIscBgV-ujXdvPg%3D%3D

[2] https://www.reuters.com/business/autos-transportation/ford-considers-scrapping-f-150-ev-truck-wsj-reports-2025-11-06/

An anonymous reader quotes a report from The Verge:

> What did Ilya see?" Two years ago, it was the meme seen 'round the world (or at least 'round the tech industry). OpenAI CEO Sam Altman had been [1]briefly ousted in November 2023 by members of the company's board of directors, including his longtime collaborator and fellow cofounder Ilya Sutskever. The board claimed Altman "was not consistently candid in his communications with the board," [2]undermining their confidence in him . He was out for less than a week before being reinstated after hundreds of employees threatened to resign. But observers wondered: What hadn't Altman been candid about? And what led Sutskever to turn against him?

>

> Now, [3]new details have come to light in a legal deposition involving Sutskever , part of Musk's ongoing lawsuit against Altman and OpenAI. For nearly 10 hours on October 1st, bookended by repeated sniping between Musk's and Sutsever's attorneys, Sutskever answered questions about the turmoil around Altman's ouster, from conflicts between executives to short-lived merger talks with Anthropic. He testified that from personal experience and documentation he'd viewed, he'd seen Altman pit high-ranking executives against each other and offer conflicting information about his plans for the company, telling people what they wanted to hear.

>

> The testimony paints a picture of a leader who could be manipulative and chameleon-like in the relentless pursuit of his own agenda -- though Sutskever expressed hesitation about his reliance on some of the secondhand accounts later in testimony, saying he "learned the critical importance of firsthand knowledge for matters like this." In a statement toThe Verge, OpenAI spokesperson Liz Bourgeois said that "The events of 2023 are behind us. These claims were fully examined during the board's independent review, which unanimously concluded Sam and Greg are the right leaders for OpenAI." The comment echoes a 2024 statement by board chair Bret Taylor, following an investigation conducted by the company.

Altman "exhibits a consistent pattern of lying, undermining his execs, and pitting his execs against one another," reads a quote from the memo Sutskever. Altman told him and Jakub Pachocki, who is now OpenAI's chief scientist, "conflicting things about the way the company would be run," leading to internal conflict and repeated undermining.

Sutskever said he also faulted Altman for "not accepting or rejecting" former OpenAI research executive Dario Amodei Dario's conditions when he wanted to run all research and fire OpenAI president Greg Brockman, implying Altman played both sides.

Furthermore, OpenAI CTO Mira Murati surfaced claims that Altman left Y Combinator for "similar behaviors. He was creating chaos, starting lots of new projects, pitting people against each other, and thus was not managing YC well."



[1] https://news.slashdot.org/story/23/11/17/2137216/sam-altman-fired-as-ceo-of-openai

[2] https://slashdot.org/story/23/12/09/059212/before-sam-altmans-ouster-openais-leaders-were-warned-of-abusive-behavior

[3] https://www.theverge.com/ai-artificial-intelligence/814876/ilya-sutskever-deposition-openai-sam-altman-elon-musk-lawsuit

Microsoft is [1]launching a new MAI Superintelligence Team under Mustafa Suleyman to [2]build practical, controllable AI aimed at digital companions, medical diagnostics, and renewable-energy modeling . "We are doing this to solve real concrete problems and do it in such a way that it remains grounded and controllable," Suleyman wrote. "We are not building an ill-defined and ethereal superintelligence; we are building a practical technology explicitly designed only to serve humanity." CNBC reports:

> The new Microsoft AI research group will focus on providing useful companions for people that can help in education and other domains, Suleyman wrote in his blog post. It will also pursue narrow areas in medicine and in renewable energy production. "We'll have expert level performance at the full range of diagnostics, alongside highly capable planning and prediction in operational clinical settings," Suleyman wrote.

>

> As investors and analysts are increasingly voicing their concerns about overspending on AI without a clear path to profits, Suleyman said he wants "to make clear that we are not building a superintelligence at any cost, with no limits."



[1] https://microsoft.ai/news/towards-humanist-superintelligence/

[2] https://www.cnbc.com/2025/11/06/microsoft-forms-superintelligence-team-under-ai-head-mustafa-suleyman-.html

Japan's new competition rules are [1]forcing Apple to open the iPhone to third-party app stores , and iOS 26.2 will quietly flip that switch ahead of the December deadline. MacRumors reports:

> According to [2]a post shared on X by @Tzzlala, iPhones running the beta in Japan are able to install alternative app stores like AltStore PAL and Epic Games, and download apps from them, though Fortnite in-app purchases are currently region-blocked by Epic. [...] The guidelines are set to come into effect by December 18, 2025, while Apple is expected to release iOS 26.2 in December, sometime between December 9 and December 16. Epic Games has already announced plans to bring Fortnite and its game store platform to iOS in Japan by late 2025.



[1] https://www.macrumors.com/2025/11/05/ios-26-2-third-party-app-stores-japan/

[2] https://x.com/Tzzlala/status/1985857946082070604

An anonymous reader quotes a report from TorrentFreak:

> In a submission for the [1]2026 National Trade Estimate Report (PDF), Cloudflare warns the U.S. government that site blocking efforts [2]cause widespread disruption to legitimate services . The complaint points to Italy's automated [3]Piracy Shield system , which reportedly blocked "tens of thousands" of legitimate sites. Meanwhile, overbroad IP address blocks in Spain and new automated blocking proposals in France are serious concerns that harm U.S. business interests, Cloudflare reports. [...]

>

> Cloudflare urges the USTR to take these concerns into account for its upcoming National Trade Estimate Report. Ideally, it wants these trade barriers to be dismantled. These calls run counter to requests from rightsholders, who urge the USTR to ensure that more foreign countries implement blocking measures. With potential site-blocking legislation being considered in U.S. Congress, that may impact local lobbying efforts as well. If and how the USTR will address these concerns will become clearer early next year, when the 2026 National Trade Estimate Report is expected to be published.



[1] https://torrentfreak.com/images/USTR-NTE-Cloudflare-2026.pdf

[2] https://torrentfreak.com/cloudflare-tells-u-s-govt-that-foreign-site-blocking-efforts-are-digital-trade-barriers/

[3] https://yro.slashdot.org/story/25/04/03/2257221/massive-expansion-of-italys-piracy-shield-underway

An anonymous reader shares a report:

> Amazon just introduced an AI tool that will automatically [1]translate books into other languages . The appropriately-named Kindle Translate is being advertised as a resource for authors that self publish on the platform.

>

> The company says the tool can translate entire books between English and Spanish and German to English. Amazon promises that more languages are coming down the pike. It's available right now in a beta form to select authors enrolled in the Kindle Direct Publishing platform. There's a broader rollout planned for a later date.



[1] https://www.engadget.com/ai/amazon-is-testing-an-ai-tool-that-automatically-translates-books-into-other-languages-183056809.html

An anonymous reader [1]shares a report :

> On Wednesday, Reuters reported that Google is planning to build a large AI data center on Christmas Island, a 52-square-mile Australian territory in the Indian Ocean, following a cloud computing deal with Australia's military. The previously undisclosed project will reportedly position advanced AI infrastructure a mere 220 miles south of Indonesia at a location military strategists consider critical for monitoring Chinese naval activity.

>

> Aside from its strategic military position, the island is famous for its massive annual crab migration, where over 100 million of red crabs make their way across the island to spawn in the ocean. That's notable because the tech giant has applied for environmental approvals to build a subsea cable connecting the 135-square-kilometer island to Darwin, where US Marines are stationed for six months each year.

>

> [...] Christmas Island's annual crab migration is a natural phenomenon that Sir David Attenborough reportedly once described as one of his greatest TV moments when he visited the site in 1990. Every year, millions of crabs emerge from the forest and swarm across roads, streams, rocks, and beaches to reach the ocean, where each female can produce up to 100,000 eggs. The tiny baby crabs that survive take about nine days to march back inland to the safety of the plateau.



[1] https://arstechnica.com/ai/2025/11/google-plans-secret-ai-military-outpost-on-tiny-island-overrun-by-crabs/

The FBI has [1]subpoenaed popular Canadian domain registrar Tucows , demanding information about the owner of archive[dot]today, a popular archiving site used to bypass paywalls and avoid sending traffic to original publishers. The subpoena states it relates to a federal criminal investigation but provides no details about the alleged crime.

Archive.today posted the document on X the same day. The site, also known as archive.is and archive.ph, started in the early 2010s and rose to prominence during GamerGate when users took snapshots of articles to avoid sending traffic to websites. It now has hundreds of millions of saved pages. The FBI requested the customer name, address, billing information, telephone connection records, payment methods, internet connectivity session times, and device identifiers.

Very little is known about who operates the site. A 2013 analysis by Gyrovague suggested it is "a one-person labor of love, operated by a Russian of considerable talent and access to Europe." A 2013 FAQ states the site is privately funded. A 2021 blog post said "it is doomed to die at any moment."



[1] https://www.404media.co/fbi-tries-to-unmask-owner-of-infamous-archive-is-site/

Venture capitalist David Sacks, who is serving as President Donald Trump's AI and crypto czar, said Thursday that there will be " [1]no federal bailout for AI ." From a report:

> "The U.S. has at least 5 major frontier model companies. If one fails, others will take its place," Sacks wrote in a post on X. Sacks' comments came after OpenAI CFO Sarah Friar said Wednesday that the startup wants to establish an ecosystem of private equity, banks and [2]a federal "backstop" or "guarantee" that could help the company finance its infrastructure investments.

>

> She softened her stance later in a LinkedIn post and said OpenAI is not seeking a government backstop for its infrastructure commitments. She said her use of the word "backstop" clouded her point. [...] Sacks said the Trump administration does want to make permitting and power generation easier, and that the goal is to facilitate rapid infrastructure buildouts without raising residential electricity rates. "To give benefit of the doubt, I don't think anyone was actually asking for a bailout. (That would be ridiculous.)," he wrote.



[1] https://www.cnbc.com/2025/11/06/trump-ai-sacks-federal-bailout-openai-friar.html

[2] https://tech.slashdot.org/story/25/11/06/1654233/openai-cfo-says-company-isnt-seeking-government-backstop-clarifying-prior-comment

AI labs are paying skilled professionals [1]hundreds of dollars per hour to train their models in specialized fields . Companies like Mercor, Surge AI, Scale AI and Turing recruit bankers, lawyers, engineers and doctors to improve the accuracy of AI systems in professional settings. Mercor advertises roles for medical secretaries, movie directors and private detectives at rates ranging from $20 to $185 per hour for contract work and up to $200,000 for full-time positions. Surge AI offers as much as $1,000 per hour for expertise from startup CEOs and venture capital partners. Mercor pays out over $1.5 million daily to professionals it hires for clients including OpenAI and Anthropic.

Some contractors are former employees of Goldman Sachs and McKinsey. Others moonlight in this work while keeping their regular jobs. Brendan Foody, Mercor's 22-year-old CEO, acknowledged at a conference last week that trade secrets could potentially be compromised given the volume of work submitted. Uber CEO Dara Khosrowshahi said on this week's earnings call that some AI training gigs on its platform require PhDs.



[1] https://www.bloomberg.com/news/newsletters/2025-11-06/ai-startups-creating-new-gig-economy-for-bankers-lawyers

American manufacturing's postwar boom from the 1940s through the 1970s resulted from conditions that [1]cannot be recreated , a story on WSJ argues. Global competitors had been destroyed by war. Energy was cheap. Unions could demand concessions without fearing job losses to foreign rivals.

Strikes were frequent in steel, auto, trucking, rubber and coal mining. That relentless pressure from an organized working class raised real wages and created fringe benefits including health insurance and retirement pay. Government support for unions kept executive salaries at just a few times median income. Stock buybacks were illegal or frowned upon. President Eisenhower declared at the 1956 dedication of the AFL-CIO national headquarters that "Labor is the United States."

The system began unraveling by the mid-1960s. The Vietnam War drained federal coffers. Inflation accelerated as government deficits exploded. Nixon abandoned the gold standard in 1971, unleashing currency volatility. The 1973 OPEC oil embargo quadrupled energy prices. Foreign competition returned from Japan, Korea and West Germany. American companies carried mounting legacy costs like pensions that discouraged investment in upgrades and research.

Milton Friedman declared in a 1970 New York Times essay that the social responsibility of business is to increase its profits. Clinton signed NAFTA in 1993 and championed the World Trade Organization in 1995. Bethlehem Steel employed around 150,000 people in the mid-1950s. The company filed for bankruptcy in 2001. Its former hometown plant in Bethlehem, Pa., is now a casino.



[1] https://www.msn.com/en-us/money/economy/why-manufacturing-s-last-boom-will-be-hard-to-repeat/ar-AA1PWrug