1031 posts tagged with Economics.
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Graphs of the Economy

Macrotrends has tons of economic graphs. Interactive historical charts of the Dow Jones Industrials Index, gold, crude oil not to mention oats, wheat, silver and aluminum. Also US unemployment perspectives, US debt-to-GDP, US National debt by President and everyone's favorite the 1929 Stock Market Crash. The data and the graphs are free to download.
posted by storybored on Aug 19, 2016 - 4 comments

We’re in a Low-Growth World. How Did We Get Here?

If you live in the US, EU or Japan, and feel like economic growth today has not been like it was for your parents' or grandparents' generation, you are correct. Growth in mature markets has been very slow since the late 1960s. Economist Robert J. Gordon calls 1870-1970, the "Special Century" because of how abnormally strong the growth was in that period. [more inside]
posted by gen on Aug 10, 2016 - 45 comments

Central bank digital currency: the end of monetary policy as we know it?

I argue that taken to its most extreme conclusion, [central bank digital currency] issuance could have far-reaching consequences for commercial and central banking – divorcing payments from private bank deposits and even putting an end to banks’ ability to create money. By redefining the architecture of payment systems, CBcoin could thus challenge fractional reserve banking and reshape the conduct of monetary policy.
posted by Chrysostom on Jul 26, 2016 - 15 comments

"Liberals got out of the habit of arguing for their beliefs"

"But it goes way beyond that. Some researchers claim that liberals aren't motivated by feeling of moral disgust, but I disagree. Liberals think incidents like these are disgusting. Racism is viscerally wrong, it's unacceptable, and it needs to stop." Four years ago Mark Rosenfelder (metafilter's own) wrote The Practical Case For Liberalism (previously). He follows it up now with The Moral Case For Liberalism.
posted by The Whelk on Jul 25, 2016 - 29 comments

The Entrepreneurial State

Mariana Mazzucato is Rethinking Capitalism (pdf; via) [more inside]
posted by kliuless on Jul 22, 2016 - 16 comments

The open hand and the closed fist

Just print money and give it to everyone by Chris Arnade: "The usual answer to why we don't do this is that it isn't politically feasible and there is no precedent. 1) That has never stopped bank bailouts, which often require a great deal of political and regulatory ingenuity to jam through. (TARP cough TARP) 2) It is a symptom of a system built by and for the bankers to benefit themselves. It is the equivalent of saying, 'We can't do it because we have never wanted to do it'. That we don't do it this way isn't just a small economic quibble with no impact. The most visceral anger I hear from voters across the country is directed at bank bailouts, which they see as evidence of a rigged system. They are right. The system is rigged in the sense that our primary method to stimulate the economy also conveniently bails out bankers." (previously; via) [more inside]
posted by kliuless on Jul 12, 2016 - 55 comments

The Economics of Genius

Genius comes in two very different forms, embodied by two very different types of people.
posted by romados on Jun 30, 2016 - 56 comments

The Ups and Downs of the Baltic Dry Index

Though obfuscated by rapid increases in China's shipping fleet, it has reliably predicted economic downturns. [SL New Yorker] It reflects the rates that freight carriers charge to haul raw materials, and has emerged as an unlikely barometer of economic health.
posted by Bee'sWing on Jun 22, 2016 - 2 comments

Legal Bodies

China has very strict controls on moving money out of the country. China's new president, Xi Jinping, has been cracking down on corruption at the highest levels, consolidating his control over the government. What to do if you're a corrupt official worried you may find yourself on the wrong side of the new regime? Buy a Japanese son. Japanese surrogacy ring producing Japanese-citizen babies for Chinese nationals: Part 1, Part 2
posted by Diablevert on Jun 22, 2016 - 17 comments

Trekonomics

The Economic Lessons of Star Trek's Money-Free Society - "[Manu Saadia] points to technologies like GPS and the internet as models for how we can set ourselves on the path to a Star Trek future. 'If we decide as a society to make more of these crucial things available to all as public goods, we're probably going to be well on our way to improving the condition of everybody on Earth', he says. But he also warns that technology alone won't create a post-scarcity future... 'This is something that has to be dealt with on a political level, and we have to face that.' " (via) [more inside]
posted by kliuless on Jun 21, 2016 - 102 comments

The Uncanny Mind That Built Ethereum

Vitalik Buterin invented the world's hottest new cryptocurrency and inspired a movement — before he'd turned 20 - "I think a large part of the consequence is necessarily going to be disempowering some of these centralized players to some extent because ultimately power is a zero sum game. And if you talk about empowering the little guy, as much as you want to couch it in flowery terminology that makes it sound fluffy and good, you are necessarily disempowering the big guy. And personally I say screw the big guy. They have enough money already." [more inside]
posted by kliuless on Jun 16, 2016 - 62 comments

Johann Wolfgang von Goethe, Amateur Auction Theorist

I am inclined to offer Mr. Vieweg from Berlin an epic poem, Hermann and Dorothea, which will have approximately 2000 hexameters. …Concerning the royalty we will proceed as follows: I will hand over to Mr. Counsel Böttiger a sealed note which contains my demand, and I wait for what Mr. Vieweg will suggest to offer for my work. If his offer is lower than my demand, then I take my note back, unopened, and the negotiation is broken. If, however, his offer is higher, then I will not ask for more than what is written in the note to be opened by Mr. Böttiger.
posted by Chrysostom on Jun 13, 2016 - 7 comments

We have portkeys! Boom! Middle of the ocean!

Cartoonist Boulet (previously, previously, related previously) thinks about the problem with all these elaborate traps in adventure movies.
posted by The Whelk on Jun 1, 2016 - 66 comments

What does it look like when an ideology dies?

You’re witnessing the death of neoliberalism – from within Aditya Chakrabortty comments about the IMF paper titled, "Neoliberalism, Oversold?" that has been making waves. To put it mildly.
posted by cendawanita on Jun 1, 2016 - 41 comments

Sapiens 2.0: Homo Deus?

In his follow-up to Sapiens, Yuval Noah Harari envisions what a 'useless class' of humans might look like as AI advances and spreads - "I'm aware that these kinds of forecasts have been around for at least 200 years, from the beginning of the Industrial Revolution, and they never came true so far. It's basically the boy who cried wolf, but in the original story of the boy who cried wolf, in the end, the wolf actually comes, and I think that is true this time." [more inside]
posted by kliuless on May 24, 2016 - 23 comments

How the rich got richer

Vox cartoon breakdown of rise in US economic inequality.
posted by MoonOrb on May 23, 2016 - 20 comments

La bohème

What is actually happening with San Francisco rental prices?

From mefi's own urban planning, history, infrastructure, transit and walkability obsessed blogger, Eric Fischer. [more inside]
posted by latkes on May 17, 2016 - 74 comments

It's from The Economist, so they should know.

You are on an airplane. Ten ways to tell you might be sitting next to an economist.
posted by storybored on May 11, 2016 - 32 comments

Redefining Wealth and Prosperity in the 21st Century

Kennedy was right - "Much that is valuable is neither tangible nor tradable... Gross domestic product (GDP) is increasingly a poor measure of prosperity. It is not even a reliable gauge of production."* [more inside]
posted by kliuless on May 11, 2016 - 10 comments

A People's History of the Cultural Revolution, 1962–1976

A New Look At China's Cultural Revolution - "Historian Frank Dikötter says newly opened archives offer fresh details about the chaos China experienced in the 1960s, when Chairman Mao urged students to take to the streets." [more inside]
posted by kliuless on May 9, 2016 - 19 comments

WORLD OF TOMORROW

World After Capital by Albert Wenger [Work in Progress; GitHub; GitBook; PDF; FAQ] - "Technological progress has shifted scarcity for humanity. When we were foragers, food was scarce. During the agrarian age, it was land. Following the industrial revolution, capital became scarce. With digital technologies scarcity is shifting from capital to attention. World After Capital suggests ways to expand economic, informational and psychological freedom to go from an industrial to a knowledge society." (previously)
posted by kliuless on May 7, 2016 - 23 comments

“...the public anger about the economy is not without empirical basis.”

President Obama Weighs His Economic Legacy by Andrew Ross Sorkin [The New York Times] Eight years after the financial crisis, unemployment is at 5 percent, deficits are down and G.D.P. is growing. Why do so many voters feel left behind? The president has a theory. [more inside]
posted by Fizz on Apr 28, 2016 - 88 comments

Country of the future; always the future

Perry Anderson - Crisis in Brazil
Long read but probably the most comprehensive account I have read about how this enormous country got to the more chaotic state than usual that it is in today.
(Via LRB and previous).
posted by adamvasco on Apr 27, 2016 - 41 comments

It's not secular stagnation; it's financialization.

Elizabeth Warren has a great idea for making Tax Day less painful - "She's taking on TurboTax and other predatory companies." [more inside]
posted by kliuless on Apr 18, 2016 - 233 comments

The New Astrology

Surveys indicate that economists see their discipline as ‘the most scientific of the social sciences’. What is the basis of this collective faith, shared by universities, presidents and billionaires? Shouldn’t successful and powerful people be the first to spot the exaggerated worth of a discipline, and the least likely to pay for it? In the hypothetical worlds of rational markets, where much of economic theory is set, perhaps. But real-world history tells a different story, of mathematical models masquerading as science and a public eager to buy them, mistaking elegant equations for empirical accuracy.
posted by Alterity on Apr 17, 2016 - 70 comments

Luck is not something you can mention in the presence of self-made men.

Robert H. Frank, professor of economics at Cornell University, for The Atlantic: Why Luck Matters More Than You Might Think. "...the luckiest among us appear especially unlikely to appreciate our good fortune. According to the Pew Research Center, people in higher income brackets are much more likely than those with lower incomes to say that individuals get rich primarily because they work hard. Other surveys bear this out: Wealthy people overwhelmingly attribute their own success to hard work rather than to factors like luck or being in the right place at the right time." [more inside]
posted by amnesia and magnets on Apr 15, 2016 - 114 comments

On poverty, surviving, taxes and economic justice in America

"The Throwaways" by Melissa Chadburn, from 2012. (Via. tw: mentions rape, but not graphically.)
posted by zarq on Apr 9, 2016 - 24 comments

Good riddance, gig economy

Uber, Ayn Rand and the awesome collapse of Silicon Valley’s dream of destroying your job
posted by standardasparagus on Mar 28, 2016 - 156 comments

A proper reckoning

Feminist economics deserves recognition - "In 2014 only 12% of American economics professors were female, and only one woman (Elinor Ostrom) has won the Nobel prize for economics.[1,2,3] But in terms of focus, economists have embraced some feminist causes. Papers abound on the 'pay gap' (American women earned 21% less than men for full-time work in 2014), and the extra growth that could be unlocked if only women worked and earned more. A recent paper, for instance, claimed that eliminating gender discrimination in Saudi Arabia could bring its GDP per person almost level with America's. (Feminists, of course, consider gender equality a worthy goal irrespective of its impact on GDP.) That raises a question. Does 'Feminist economics', which has its own journal, really bring anything distinctive?" [more inside]
posted by kliuless on Mar 25, 2016 - 17 comments

Cameron, Corbyn, The City and Steampunk

Despair Fatigue - How hopelessness grew boring. The big lie of austerity, how the crushing of the working classes was commodified, the rise of Corbofuturism and how it might shape a radical 21st century.
posted by fearfulsymmetry on Mar 20, 2016 - 45 comments

sources of obligation, sources of value

an introduction to fiat money (pdf) by Steve Randy Waldman:* - "Self-reinforcing bootstrap dynamics hold as strongly for a king's token as it would for any other thing, but much more stably so, since the king can reinforce and assure the stability of his token so long as he retains the political capacity to coerce or persuade payment of tax." (via) [more inside]
posted by kliuless on Mar 17, 2016 - 40 comments

Joseph Heath on the benefits of risk-pooling and the social safety net

Privatization and demutualization. A concise explanation of the efficiency gains of health insurance and public pensions, from Canadian philosopher Joseph Heath. Heath points out that the "social safety net" provides tremendous gains from risk-pooling, completely separate from redistribution or reduced inequality. [more inside]
posted by russilwvong on Mar 10, 2016 - 9 comments

What's changed and changing about (American) politics?

The three party system - "There are three major political forces in contemporary politics in developed countries: tribalism, neoliberalism and leftism (defined in more detail below). Until recently, the party system involved competition between different versions of neoliberalism. Since the Global Financial Crisis, neoliberals have remained in power almost everywhere, but can no longer command the electoral support needed to marginalise both tribalists and leftists at the same time. So, we are seeing the emergence of a three-party system, which is inherently unstable because of the Condorcet problem and for other reasons." [more inside]
posted by kliuless on Mar 4, 2016 - 77 comments

Finance, old wood, and flame

How do you make a secure record of a debt or exchange if you can't read or write? Cut a number of notches across a stick to symbolize the assets involved, then split the wood lengthwise: you now have two tamper-proof receipts, one for each party to the transaction. The split tally method formed the basis for much of European bookkeeping between medieval times and the modern era. [more inside]
posted by Iridic on Feb 25, 2016 - 20 comments

Witness the Firepower of This Fully Armed and Operational Battle Station

Helicopter drops might not be far away - "Central banks could be given the power to send money, ideally in electronic form, to every adult citizen. Would this add to demand? Absolutely."
posted by kliuless on Feb 24, 2016 - 36 comments

The Gilded Age, Henry George, the Land Value Tax and the Progressive Era

Kim-Mai Cutler: Nothing Like This Has Ever Happened Before - "San Francisco Bay Area poverty rates in all nine counties have increased in the last economic cycle, even with the Facebook and Twitter IPOs and private tech boom. The main transfer mechanism is land and housing costs, as rising rents and evictions push service and other low-wage workers to the brink. [Henry] George's solution was a single land tax that would replace all other government revenue sources. If an owner wanted to develop their property to make it more useful or productive, George argued that they should have the right to keep the value from those efforts. But increases in the value of underlying land were created by — and ultimately belonged to — the public at large." (previously: 1,2,3) [more inside]
posted by kliuless on Feb 19, 2016 - 33 comments

1 Galleon = $25. 1 Sickle = $1.50. 1 Knut = $0.05.

A Reddit thread recently broke down the exchange rate between Wizard and Muggle money, and in doing so shed some interesting light on the financial disparity between many of the characters in the Harry Potter universe. [more inside]
posted by Hermione Granger on Feb 18, 2016 - 43 comments

Concrete Economics: The Hamilton Approach to Economic Growth and Policy

Why Hamilton—Not Jefferson—Is the Father of the American Economy - "How we can better energize America's economy, create more jobs, and provide more fulfilling lives for our citizens?" By Stephen Cohen and Brad DeLong (previously; [unfinished] book preview) [more inside]
posted by kliuless on Feb 16, 2016 - 23 comments

Fake Online Locksmiths, lead gens and Google Maps (nyt)

Fake Online Locksmiths A locksmith’s shop on a street in Sun City, Ariz. [...] turned out to be a fiction that was created for the locksmith by a web design firm using Photoshop at what is, in fact, a vacant lot. [via marginal revolution] [more inside]
posted by hawthorne on Feb 6, 2016 - 65 comments

Geeta, Rohan, and the Factory

A few weeks earlier, the male elders of their caste had decreed that village women working at nearby meat-processing factories should leave their jobs. The reason they gave was that women at home would be better protected from the sexual advances of outside men. A bigger issue lay beneath the surface: The women’s earnings had begun to undermine the old order. It came as a surprise when seven of the women, who had come to rely on the daily wage of 200 rupees, about $3, refused to stop. The women would have to, the men said, blocking the lane with their bodies. They did not expect the women to go to the police. (SLNYTimes). [more inside]
posted by Diablevert on Jan 30, 2016 - 14 comments

Economic Class != Social Class, and why.

Ever confused about why it's so hard for Americans (US) to talk about class issues? LJ blogger Siderea has some answers for you, having to do with the distinction between social and economic class. [more inside]
posted by suelac on Jan 25, 2016 - 82 comments

Looking Back on Romer (1990)

25 years ago, Paul M. Romer's oft-cited article: "Endogenous Technological Change" (pdf) was published in The Journal of Political Economy. In it, he tried to explain how technological progress and knowledge creation affected the dynamics of growth. Romer’s model (pdf) became the "primary engine that fueled a decade-long re-examination of long-term growth in economics." This past October, Dr. Romer posted 7 follow-up blog entries to his historic paper, in order to 'revisit the basics,' starting with: Nonrival Goods After 25 Years. [more inside]
posted by zarq on Jan 25, 2016 - 5 comments

10 things to know about progress in international development

10 things to know about progress in international development (.pdf) Around the world, amazing progress is being made. More than 1 billion people have been lifted out of extreme poverty since 1990, with major gains made in health and education and in other areas that contribute to human well-being.

Lots of problems remain of course. And you can still be very poor and not be below the $1.25 (in $2005) line. But a big deal.
posted by hawthorne on Jan 23, 2016 - 9 comments

Scrooge McDuck's Giant Pool of Money is Real

Planet Money's Adam Davidson ponders an emerging economic paradox in this week's NYT Magazine: Why are corporations hoarding trillions in cash? The cash stockpiles being held by many major corporations situation are unprecedented in size, and often vastly exceed any sum of money that these corporations could ever dream of spending. This behavior runs in direct opposition to most economic theories, violates assumptions about how rational corporations should act, and is being rewarded by the market (but only in some industries). So, what gives?
posted by schmod on Jan 23, 2016 - 77 comments

Going in a hand basket or wearing shades?

The idea that America’s best days are behind us sits in sharp tension with the high-tech optimism radiating from the offices of the technology start-ups and venture capital firms of Silicon Valley.(NYT) Robert Gordon just published a book on the end of US growth. His TED talk echos this.
posted by JiffyQ on Jan 20, 2016 - 27 comments

when the facts change...

Can Economics Change Your Mind? [more inside]
posted by the man of twists and turns on Jan 15, 2016 - 15 comments

CC: George Pelecanos

Bug Man Pete and I are out on the front porch at Hank Dietle’s Tavern, the last roadhouse in Montgomery County, watching the traffic crawl by on Rockville Pike. An exterminator by trade, he’s finished battling vermin for the day and is ready for a few cold ones. A pitcher of draft beer is on the table, and a lit Maverick cigarette is in his hand. He’s feeling good, as he usually is at Dietle’s. [He] has been coming here for almost half of his 56 years. But people like him have been coming to Dietle’s for a century. They were here when the Pike was a rural toll road. They were here when cold, cheap beers were illegal. They were here when Metro dug its tunnels underneath and when a gleaming new mall went up across the road. Now that the mall has been shuttered, they’re still here. -- Washingtonian Magazine on the Last Roadside Divebar in Suburbia.
posted by Potomac Avenue on Jan 13, 2016 - 39 comments

UBI in NYT

It's Payback Time for Women - "Society is getting a free ride on our unrewarded contributions to the perpetuation of the human race." (via) [more inside]
posted by kliuless on Jan 11, 2016 - 79 comments

The Unseen Threat of Capital Mobility

For the Wealthiest, a Private Tax System That Saves Them Billions -"The very richest are able to quietly shape tax policy that will allow them to shield billions in income." (via) [more inside]
posted by kliuless on Jan 4, 2016 - 31 comments

Happy New Year from the manufacturers of economic inequality

Venture capitalist Paul Graham starts 2016 with an essay on Economic Inequality
Since the 1970s, economic inequality in the US has increased dramatically. And in particular, the rich have gotten a lot richer. Some worry this is a sign the country is broken. I'm interested in the topic because I am a manufacturer of economic inequality. I've become an expert on how to increase economic inequality, and I've spent the past decade working hard to do it.
[more inside]
posted by nickrussell on Jan 3, 2016 - 88 comments

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