February 24, 2017

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Founded 1876 daily since 1892 online since 1998

Friday February 24, 2017 vol. cxli no. 14

{ www.dailyprincetonian.com } ACADEMICS

New society to reward science research contributor

The Princeton Biomedical Engineering Society hosted an informational presentation on Feb. 22 with Elise Mochizuki, investment analyst at the Akemi Capital family office. She is the founder of the honor society Epsilon Alpha Mu and the nonprofit organization The Elise Foundation, which aims to make available new sources of funding for STEM research and pursuits on campus. The honor society will provide Ivy League-affiliated researchers with funding and the opportunity to enter a new poster contest in which researchers will create exhibits to showcase their current projects. She was accompanied by Kenji Mochizuki, chairman of the board of directors of the honor society. The honor society plans to award current Ivy League students in science fields with monetary awards for research. According to Kenji Mochizuki, grant applications take up close to 75 percent of researchers’ time; this wastes valuable time that could instead be spent doing research with no guarantee of a payoff. In addition, Mochizuki noted that traditional sources of funding like the NIH are harder to access. He

added, “[The NIH has] made it harder for faculty to even apply for grants [because] ... you need to identify a specific genetic causality for a disease. [The NIH] are insisting, and preferring, grant applications to be linked to a single biomarker. But the problem is ... most of [the diseases of interest] are multifactorial, and other biomarkers may not even have been discovered, and there’s a huge environmental component.” “So you have a whole discipline. All of a sudden, it’s not even worth your time applying for grant,” Mochizuki said. “And we’ve heard this from a lot of investigators. We’ve heard it from chairs, chiefs, other senior scientists, at a handful of schools, at the Ivies.” Because of this, the honor society aims to provide funding at every level of involvement in research, from principal investigators to graduate students to temporary or summer visiting researchers. Another one of the society’s aims is to foster an inter-Ivy League network of scientists. “Once you’re a member, you’ll have access primarily to funding and the network,” Mochizuki said. “The trend in science is collaboration, interdisciplinary, interdepartmental research, and See SOCIETY page 3

COURTESY OF CHRISTOPHER PETERS

Junot Dí az will be on campus on Friday to read from his book and speak about activism.

Q&A: Junot Díaz, Pulitzer Prizewinning author and activist By Emily Spalding staff writer

Author Junot Díaz will be on campus for a special book reading and book signing hosted by Princeton Latinos y Amigos on Friday. Díaz will be reading from his book “The Brief Wondrous Life of Oscar Wao.” The ‘Prince’ asked Díaz a few questions about his identity and writing career over email. The Daily Princetonian: It was recently announced that you will be among a group of writers contributing to the book “Radical Hope: Letters of Love and Dissent in Dangerous Times.” What can you say about this project? What sparked your involvement,

BEYOND THE BUBBLE

contributor

The Daily Princetonian sat down with the former Director of the Division of Investment Management of the Securities and Exchange Commission Norm Champ ’85 to discuss his role in the regulation of the finance industry after the Great Recession. Champ’s recent book, “Going Public: My Adventures Inside the SEC and How to Prevent the Next Devastating Crisis,” details the process of

turned away from plenty of troubling materials and have left plenty of things unsaid because I did not have the heart to write about them, because I feared the consequences. Writing (it should surprise no one) takes courage. Sometimes you ain’t got it right when you need it. We ain’t all fearless soldiers — some of us are human. All you can do at times like these is keep at it, keep growing and challenging yourself and eventually you’ll become the person you need to become to write the words you need to write. Perseverance really is everything in this game. One has to remember that in a culture like ours polemSee DIAZ page 3

ACADEMICS

Q&A: Former SEC official Champ ’85

By Norman Xiong

and what are you hoping to achieve through this work? Junot Díaz: Shortly after the election, I wrote an epistolary piece for The New Yorker entitled “RADICAL HOPE” about hope and struggle in the age of Trump. And in less than a month Carolina De Robertis reached out to me to take part in a book project inspired in part by the essay I wrote. DP: Have you ever found yourself censoring your writing because you felt it was too disruptive or controversial? What advice might you give to writers facing this kind of hesitation in going through with writing on polemic topics? JD: As a writer, I have

financial reform both by and within the SEC after the crisis, and is set to be published in March. Champ is currently a lecturer at Harvard Law School and a partner at Kirkland & Ellis LLP Investment Funds Group.

The Daily Princetonian: You concentrated in history when you were at the University, and then studied war studies at King’s College, London, and went to Harvard Law. Can you tell us

COURTESY OF FACEBOOK

Champ worked on two projects concerning the 2008 financial crisis.

about what inspired you to pursue this particular academic path, and how it has influenced and helped you in your career? Norm Champ: I was a history buff from the time I was a little kid, so I used to read these one-dollar Valentine books, history of the Second World War books. I read those as a kid and I was interested in history the whole way along. When I came to Princeton, I was drawn to the history department, and I continued to study military history at Princeton, and that included with James McPherson, who’s a Civil War historian, the best historian of the Civil War. While I was at Princeton, I really enjoyed the history department. I was even considering maybe going for a Ph.D. in history, and so I ended up applying for a Fulbright Scholarship to go to the U.K. and continue studying military history, and I got a master’s degree there, but at that point I decided I wanted to have a little more marketable skills and so instead I decided to continue on with my other original desire, which was to be a lawyer. I ended up applying to Harvard Law School and started there in 1986, graduated in 1989. It was an interesting question, how studies inf luence your career. I think being a histoSee CHAMP page 2

Rogoff promotes “less cash” society By Alexander Stangl contributor

At a lecture on Feb. 23, Kenneth Rogoff, professor of economics at Harvard University, discussed the idea of moving to a society with less cash, which forms the basis of his new book, “The Curse of Cash.” Rogoff prefaced his presentation with a disclaimer, noting that his work is often misunderstood and that he has received several death threats as a result of these misunderstandings. Other critics of his work, he noted, believe him to be promoting an Orwellian government. In response to these criticisms, Rogoff stated that his belief is not that money is inherently bad, and that we should live in a cashless society; rather, he is calling for what he has dubbed a “less cash” society in which we rid ourselves of the “big bills that don’t really have good use.” These big bills include the $100 USD, 500€, and ¥10,000 bills. Rogoff argued that these bills had use in the past, as they facilitated the process of handling and exchanging large sums of money. He added that while this is no longer a limitation for

In Opinion

Today on Campus

The Editorial Board advises the U. of considerations to make before expanding the student body and Senior Columnist Marni Morse and Guest Contributor Matt Błazejewski invite students to the Me Too Monologues

4:30 p.m.: Activism & Academia: A Conversation with Junot Díaz. Díaz will read an excerpt of his book and sign books. The event takes place in McCosh 50.

the government, such large bills continue to be of great value to the underground economy, tax evaders, and criminals. The “black money” that these groups hold comprises a large amount of the wealth, he noted. However, while the capital holdings of currency are vast, Rogoff explained that 80 to 90 percent of all currency remains unaccounted for. He noted that other economists claim this to be the result of foreign groups’ work and that these economists believe that most of the nation’s wealth exists overseas. On the contrary, Rogoff noted that economists have employed very sophisticated methods of tracking currency in order to obtain more reasonable estimates of overseas holdings. These methods show that well over half of U.S. currency is held in the United States, indicating that the problem is primarily domestic. Rogoff claimed that average citizens would hardly be affected by removing large bills from circulation, as many citizens do not often use $50 or $100 bills; he added that these bills are more useful to money launderers See ROGOFF page 2

WEATHER

By Ariel Chen

ON CAMPUS

HIGH

73˚

LOW

53˚

Partly cloudy. chance of rain:

10 percent


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