Attacking billionaires is gaining popularity - especially among candidates to be America’s president. “Every billionaire is a policy failure,” goes a common left-wing slogan. In Britain’s election, too, the super-rich are under fire. Jeremy Corbyn, the leader of the Labour Party, says that a fair society would contain none.
Left-wingers’ criticizing inequality is nothing new. But the idea that huge personal fortunes are made possible only when government goes wrong is a more novel and serious idea. It is also misguided.
The left’s accusation is based on a bit of truth. When competition is fierce and fair, persistently high profits should be difficult to sustain. Yet on both sides of the Atlantic some companies make large profits in concentrated markets, and some billionaires have become successful where competition has failed. For example, Facebook and Google dominate online advertising. About a fifth of America’s billionaires made their money in industries in which government control or market failure is common.
Yet many others operate in competitive markets. The retailers owned by Mike Ashley, one of Mr Corbyn’s targets, are known for low prices and cruel competition. For every Mark Zuckerberg, the boss of Facebook, there are several technology entrepreneurs( 创 业 者 )with lots of rivals. Nobody can seriously accuse these innovators of having dominated their markets or of depending on state favors. The same goes for sportsmen such as Michael Jordan or musicians like Jay-Z, billionaires both.
When capitalism functions well, competition reduces profits for some but also produces them for others as entrepreneurs seize more markets. Their success will eventually set off another cycle of disruption( 颠 覆 ), but in the meantime fortunes can be made. This process creates vast benefits for society. According to estimates by William Nordhaus, an economist, between 1948 and 2001 innovators captured only 2% of the value they created. Perhaps that is why billionaires are tolerated even by countries with perfect social-democratic system: Sweden and Norway have more billionaires per person than America does.
Taxes should be increased progressively. But that does not justify limitless redistribution or punitive(惩罚性的)tax increase. Ms Warren’s wealth tax has already doubled once during her campaign. Thomas Piketty, an economist behind many of the most-cited inequality statistics, proposes a wealth tax of up to 90% on the richest billionaires. Such expropriation(征收)would surely discourage motivation to innovate and to allocate capital efficiently. An economy with fewer entrepreneurs might have fewer billionaires but would ultimately be less dynamic, leaving everyone worse off.
Whatever Mr Corbyn says, Britain is hardly corrupt by global standards. But it does have a problem with inherited wealth, the source of one-fifth of billionaires’ fortunes. Higher inheritance taxes would be welcome there and in America, where it is too easy to pass wealth between the generations. Besides, a broader agenda of attacking monopoly(垄断)while maintaining dynamism would help weaken over-protection of intellectual-property and copyright, and promote competition in old and new industries alike.
Doing all this would achieve much more than an unfair attack on the rich - and without the associated damage. By all means, correct policy failures. But billionaires are usually the wrong target.
1.The examples of Facebook and Google are mentioned in Paragraph 3 to show _____.
A.the situation is unique to America
B.most billionaires benefit from government’s protection
C.some billionaires do succeed in less competitive situations
D.profits are impossible in fiercely competitive industries
2.What will happen when capitalism works well?
A.Tax on the rich will be increased as a punishment.
B.More wealth will be produced for the whole society.
C.Billionaires will get most of the wealth they have created.
D.Billionaires are not accepted even in social-democratic societies.
3.The writer thinks expropriation like Thomas Piketty’s proposal will _____.
A.increase taxes progressively B.allocate capital more efficiently
C.prevent economic development D.motivate people to strive for success
4.What does the writer mainly tell us in the last but one paragraph?
A.Intellectual property and copyright protection must be weakened.
B.It makes no sense for the government to increase inheritance taxes.
C.It’s possible to promote market competition without fighting monopoly.
D.Practical measures can be taken to deal with the gap between rich and poor.
Have you ever wondered why certain pop songs just make you feel so good?
Researchers studying the question found that the right combination of uncertainty and surprise is what gives listeners the most pleasure.
The study, published in the journal Current Biology, involved an analysis of 80,000 chords( 和弦)in 745 pop songs from the US Billboard “Hot 100” chart between 1958 and 1991.
The researchers - from institutes in Germany, Norway, Denmark and the UK - used a machine-learning model to quantify the level of uncertainty and surprise of these chords, and then asked 39 adult volunteers to rate how pleasurable they found each series of chords.
Each song was stripped of its melody and lyrics(歌词)so that only chord progressions were left and the results couldn’t be influenced by other associations to the songs that listeners might have had.
They found two things: that participants got greater pleasure when they were relatively certain what would happen next but then were surprised by an unexpected chord progression. However, the same number of participants found it pleasant when they were uncertain as to what would follow, and then the subsequent chords were more familiar to them.
“It is fascinating that humans can get pleasure from a piece of music just by how sounds are ordered over time,” Vincent Cheung, the lead researcher on the paper from the Max Planck Institute for Human Cognitive and Brain Sciences, Germany, said in a statement.
“Songs that we find pleasant are likely those which strike a good balance between knowing what is going to happen next and surprising us with something we did not expect. Understanding how music activates our pleasure system in the brain could explain why listening to music might help us feel better when we are feeling blue.”
Cheung told CNN that pleasure in music has a lot to do with what listeners expect. Previous studies had looked into the effects of surprise on pleasure, but he and his colleagues’ study also focused on the uncertainty of listeners’ predictions.
The findings may help improve artificial musical algorithms(算法)and could help composers write music or predict musical trends.
“The idea is that hopefully as a scientist analyzing these patterns of pleasure in humans, you can somehow work out where music can go next,” Peter Harrison, a researcher at Queen Mary University, London, who worked on the project, told CNN.
As part of the same experiment, the researchers also used brain imaging to locate the areas of the brain reflected in musical pleasure. They found the regions involved were the amygdala, the hippocampus and the auditory cortex, which process emotions, learning and memory, and sound, respectively.
Cheung added that another part of the brain, the nucleus accumbens - which processes reward expectations - was perhaps responsible for “directing our attention towards the music so that we will try to find out what will happen next.”
1.This passage mainly deals with _____.
A.how composers create pop music trends B.why popular music makes people happy
C.what kind of music makes people most happy D.which part of the brain produces happy music
2.The underlined words in Paragraph 5 have the closest meaning to _____.
A.reserved B.restored C.removed D.refreshed
3.We can learn from the passage that __________.
A.pleasure in music is connected with listeners’ expectations
B.findings of this study are of little help to music composing
C.the regions of the brain mentioned process music composing
D.only uncertainty followed by familiarity can bring about pleasure
Heritage: Tomb, 1,200 years old, unearthed
A tomb dating back to the Tang Dynasty (618-907) has been found in Hebei province, according to the local cultural relics protection department.
The tomb was discovered by a villager. A tombstone, two china pieces, 12 items of pottery and some bronze artistic handworks were unearthed. The inscription on the tombstone, measuring 45 centimeters in length and 9 cm in thickness, consists of 323 Chinese characters recording the name, birthplace and life story of its owner and its inscription year in 733. Two china pieces, as well as other artistic handworks, are important to the research of the china craftsmanship of the local kiln(窑), Zhao Xuefeng, a cultural relics expert, said.
Travel: Kung Fu Panda land coming to Beijing Universal
Beijing Resort(度假区), which is expected to open in 2021, has released a short video about its Kung Fu Panda Land of Awesomeness. The Kung Fu Panda land will be the first Kung Fu Panda-themed land, according to Universal. The entirely indoor experience is designed to transport visitors to “legendary China”. It is based on the animated movie series Kung Fu Panda, bringing to life the brave panda Po with Chinese architecture, festive decoration and excellent performances. The Hollywood film follows the exploits of Po, who wants to be a Kung Fu master.
Films: Saturday Fiction set for screening
Saturday Fiction is set for release in China on Dec 7, according to the China Film Distribution and Exhibition Association. Gong Li plays the role of a film star with a hidden task in the film. Set in Shanghai in 1941, it follows the star who is working undercover gathering intelligence for the Allies( 盟 军 ), while starring in a new play. She discovers the Japanese plan to attack Pearl Harbor but chooses not to share the information. Directed by Lou Ye, the film made its world premiere(首映)at the Venice Film Festival in September.
Tech: 5G smart bus starts trial run
A 5G driver-less microbus started trial operations in Hangzhou, Zhejiang province, on Tuesday. The bus is equipped with 30 smart sensors to help identify obstacles such as pedestrians and vehicles from up to 200 meters away. The smart bus communicates through the road cloud collaborative intelligent system.
Theatre: Lin Zexu to be staged, marking 180th anniversary of Opium War
Directed by Wang Xiaodi and written by scriptwriter Guo Qihong, the play Lin Zexu features actor Pu Cunxin as the protagonist and actress Xu Fan as Guan Shuqing, Lin’s wife. In 1838, the Qing dynasty (1644-1911) official, was sent to Guangzhou, Guangdong province, to stop the illegal importation of opium by the British. Lin launched the destruction of opium in Humen, a port town, on June 3, 1839. About 1,400 metric tons of opium was destroyed within 23 days. The incident triggered the First Opium War (1839-1842). Marking the 180th anniversary of the war, the play will be premiered in Beijing next month. It also incorporates dance to showcase the battle scenes.
1.Which of the following CANNOT reflect Chinese history or traditional culture?
A.The tomb unearthed. B.The play to be staged.
C.The smart bus on trial. D.The theme land to be put into operation.
2.What do we know about the film Saturday Fiction?
A.It is about a film star’s private life. B.It is set in the Second World War.
C.It will make its world premiere on Dec 7. D.It focuses on Pearl Harbor Attack.
Experts are warning about the risks of extreme fussy eating(挑食)after a teenager developed permanent sight loss after living on a diet of chips and crisps.
Since leaving___ school, the teen had been eating only French fries, Pringles and white bread, as well as a(n)___ slice of ham or a sausage. At the age of 14, feeling tired and not well, he was diagnosed with vitamin B12 deficiency(缺乏)and was___ supplements(补充剂), but he did not___ the treatment or improve his poor diet. Three years later, he was taken to the Bristol Eye Hospital because of progressive___ loss.
Dr Denize Atan, who___ him at the hospital, said, “The teenager explained this eating disorder as a dislike of certain textures of food that he really could not____, and so chips and crisps were really the only types of food that he wanted and felt that he could eat.”
__ in B12 as well as some other important vitamins and minerals, he was not over or underweight, but was____ malnourished (lacking nutrition) from his food intake disorder. “He had lost minerals from his bone, which was really quite___ for a boy of his age.”
In terms of his sight loss, he met the___ for being registered blind. Dr Atan said, “He can’t drive and would find it really difficult to____, watch TV or recognize faces. He can walk around on his own,____, because he doesn’t lose peripheral( 周 边 的 )vision.”
The condition the young man has is treatable___ diagnosed early. Left too long, however, the nerve fibers in the optic nerve die and the damage becomes____. Dr Atan said cases like this are thankfully uncommon, but that parents should___ the potential harm that can be caused by picky eating, and seek expert help.
Dr Atan said vegans(素食主义者)are also at increased risk of B12 deficiency-related sight problems if they do not replace what they can lack when___ meat from their diet.
“Multivitamin tablets can supplement a diet, but are not a(n) ___ for eating healthily. It’s much better to___ vitamins through a varied and balanced diet,” she said, adding that too much of certain vitamins, including vitamin A, can be____, “so you don’t want to overdo it”.
1.A.vocational B.primary C.middle D.special
2.A.funny B.rigid C.occasional D.raw
3.A.forbidden B.denied C.prescribed D.offered
4.A.stick with B.cope with C.play with D.go with
5.A.diet B.sight C.weight D.wit
6.A.cured B.studied C.instructed D.treated
7.A.describe B.recognize C.tolerate D.receive
8.A.Abundant B.Lost C.Backward D.Lacking
9.A.severely B.scarcely C.seemingly D.sincerely
10.A.amusing B.normal C.shocking D.typical
11.A.situations B.criteria C.deadlines D.challenges
12.A.read B.sing C.dance D.laugh
13.A.even B.though C.still D.yet
14.A.since B.unless C.after D.if
15.A.persistent B.periodic C.persevering D.permanent
16.A.wake up to B.live up to C.stand up to D.come up to
17.A.excluding B.separating C.including D.distinguishing
18.A.companion B.substitute C.suggestion D.explanation
19.A.take off B.take after C.take in D.take over
20.A.rewarding B.compulsory C.restrictive D.poisonous
---How time flies! We’re near the end of the year.
---_____ I’m looking forward to the winter holiday!
A.Take your time B.You said it C.I don’t buy it D.You have my word
A friend indeed is a friend who won’t _____ on you when you are in need of help.
A.come out B.hold out C.break out D.run out
