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The recent financial meltdown was perhaps the biggest economic crisis since the great depression, and a team of economists says that current macroeconomic models used to diagnose and treat the causes of the ongoing recession are woefully inadequate.

Their study, appearing in the November issue of Strategic Organization, argues that macroeconomics is not equipped to offer full solutions to this crisis. Its basic assumption is that factors of production, firms, and industries in the economy are homogeneous and interchangeable. Research in strategic management has consistently shown that the assumption that the economy is made up of homogeneous or interchangeable factors of production is incorrect.
The first large black holes in the universe likely grew deep inside gigantic, starlike cocoons that smothered their powerful x-ray radiation and prevented surrounding gases from being blown away, says a new study published in Monthly Notices of the Royal Astronomical Society.
Ignoring all of the likely reasons why Africa may see more civil wars in the future, a study published this week in the Proceedings of the National Academy of Sciences suggests that global warming could increase the likelihood of civil war in sub-Saharan Africa by over 50 percent within the next two decades.

The study, conducted by researchers at UC Berkeley as well as at Stanford University, New York University and Harvard University, provides the first "quantitative" evidence linking climate change and the risk of civil conflict, the authors claim. They conclude by urging accelerated support by African governments and foreign aid donors for new and/or expanded policies to assist with African adaptation to climate change.
A new study published in Palaeogeography, Palaeoclimatology, Palaeoecology suggests that the volcanic super-eruption of Toba on the island of Sumatra about 73,000 years ago deforested much of central India, some 3,000 miles from the epicenter.

The volcano ejected an estimated 800 cubic kilometers of ash into the atmosphere, leaving a crater (now the world's largest volcanic lake) that is 100 kilometers long and 35 kilometers wide. Ash from the event has been found in India, the Indian Ocean, the Bay of Bengal and the South China Sea.
While surveying monkeys in the Magombera Forest in Tanzania, environmental scientists this week unexpectedly discovered a new species of chameleon called Kinyongia magomberae, or the Magombera chameleon.

The researchers distinguished the new specimen by collecting, testing and comparing it to two others found in the same area of the Udzungwa Mountains National Park. Their results are documented in the African Journal of Herpetology.

"Discovering a new species is a rare event so to be involved in the identification and naming of this animal is very exciting, said co-discoverer Dr Andrew Marshall.
The capacity of oceans and terrestrial ecosystems such as forests and grasslands to store carbon emissions is considered one of the primary ways the effects of climate change can be mitigated. Unfortunately, such natural carbon sinks may not be much help to Europe thanks to the continent's intensive land management practices, according to a new published online in Nature Geoscience.