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Profile: Massachusetts Institute of Technology
Massachusetts Institute of Technology was a participant or observer in the following events:
One of the key variables in the computer simulations used by the National Institute of Standards and Technology (NIST) (see (October 2002-October 2005)) to explain the WTC collapses is the speed of the aircraft that hit the towers. However, there is no consensus on how fast the planes were traveling. The first estimate was contained in an initial research paper by engineers Zdenek Bazant and Yong Zhou, who stated that the planes were traveling at 342 miles per hour. [Bazant and Zhou, 1/2002 ] However, the Federal Emergency Management Agency (FEMA) and American Society of Civil Engineers (ASCE) report said that the plane that hit the North Tower was traveling at 470 miles per hour, whereas the plane that hit the South Tower was traveling at 590 miles per hour (see May 1, 2002). [Federal Emergency Management Agency, 5/1/2002, pp. 31] NIST initially estimates speeds of 435 miles per hour for the plane that hit the North Tower and 497 miles per hour for the plane that hit the South Tower. These estimates closely match figures produced by the Massachusetts Institute of Technology, which finds speeds of 429 miles per hour and 503 miles per hour for the two planes. However, NIST is dissatisfied with these results and does a second study, which finds speeds of 466 and 545 miles per hour. It then uses speeds of 472 and 570 miles per hour in its severe case model, on which its final report is based. In this model, the simulation of the planes traveling faster means greater damage to the towers’ structure, making them more unstable. [Kausel, 5/2002 ; National Institute of Standards & Technology, 9/2005, pp. 152-165 ; National Institute of Standards and Technology, 9/2005, pp. 109]
Chart showing default rate since beginning of surge. [Source: Wall Street Journal]A Massachusetts Institute of Technology economist writes that according to economic indicators, the US military surge in Iraq is not working, and actually may be undermining US military efforts to bring order to that ravaged nation. Until now, few have tried to measure the success of the surge by using financial indicators, in part because of the lack of usable economic data available from Iraq, but Michael Greenstone of MIT’s economics department has made just such an attempt, using the long-term performance of Iraq state bonds to gauge how investors believe the prospects in Iraq are shaping up. Greenstone is not optimistic. “After the surge, there was a sharp decline in the price of those bonds, relative to alternative bonds,” Greenstone writes. He judges the performance of Iraq state bonds and credit default swaps against benchmark performers such as the Lehman Brothers emerging markets bond index, and against bonds issued in Qatar. Greenstone draws the conclusion that the global market is betting more and more on the likelihood that Iraq will default on its bonds, and concludes, “This finding suggests that, to date, the surge is failing to pave the way toward a stable Iraq and may in fact be undermining it.” [Wall Street Journal, 10/11/2007]
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