predicted by Stephen Roach
, the chief economist at investment banking giant Morgan Stanley. He's been right before
A pattern map for a conservation economy
[Flash.] "The pattern map offers a visual guide to the sustainability patterns that provide a framework for developing a conservation economy." [Via WorldChanging
Liberals are going the extra mile to validate economic insanity by Conservatives. Do some people have an economic advantage? Do majorities have something in common that minorities don't share? I went to Japan this year, and sure, being a minority sucks. Does that mean that there is whiteness or blackness or asianness, or the new and exciting hispanicness? No. There's no such thing.
Stop the madness: Race and Gender are just more games for people who need hobbies. Insanity inside.
Oops! IMF Admits Failed Policies
International financial integration should also help countries to reduce economic volatility, the study said, but in reality this has not happened.
"Indeed, the process of capital account liberalization appears to have been accompanied in some cases by increased vulnerability to crises," the report said.
"Globalization has heightened these risks since cross-country financial linkages amplify the effects of various shocks and transmit them more quickly across national borders."
In the last 10 years, developing countries from Thailand and Russia to Argentina, have seen their economies collapse, even though many of them were trying to follow IMF-prescribed open market policies.
So does this mean corporate facism harms the world's poor?
US income distribution moves towards 3rd world profile?
- US Census Bureau
data on growing family income inequality, 1947 to 2001. Also see: The
(for a graphic depiction of current US wealth distribution).
"The most egalitarian countries have a Gini index in the 20s. European
countries like Germany, Austria, Belgium, Hungary, Poland, Norway, and Sweden all fall in that
range, according to World Bank figures. Canada and Australia are just over 30. The United States
is around 40...Once inequality reaches 50 percent, disparities become glaringly obvious, to the
point where they undermine a society's sense of unity and common purpose....Sierra Leone takes
the prize. At 63 percent, it offers the world's most extreme example of inequality."
By multiple measures, income
in the US is rapidly increasing, and a substantial percentage of middle class Americans may be gradually sliding into poverty.
My Union Is Bigger Than Your Union:
On May 1 2004 the European Union will become 25-country strong and the most powerful political and economic force in the world. And?
Jiang outlines plans to make China wealthier
Ah, Adam Smith in and K. Marx out. Brting on the Krispy Kreeme franchises. Bet there won't be labor unions in the near future but an economically powerful China plus the EU will give America some strong competition.
Ever wonder just who's fattening who's wallet? The Transnational Corporations
Observatory [multilingual] seems to know quite a bit.
Now if i can only figure out how the ad council
gets their money...
Someone we trust says something reassuring.
Fed Chairman Alan Greenspan, arguably the most powerful man in the world, blames "infectious greed" for the recent panic-like tail-spins on Wall Street, but says that the economy is on the way to recovery. One comment held that Greenspan was finally able to let out how he feels about what's going on, without shrouding his opinion in economic jibber-jabber.
"For once he really spoke his mind. He usually tends to obfuscate things quite a bit."
But really, how many of you expected Greenspan to say anything other than "the fundamentals are in place for a return to sustained healthy growth"? Does Greenspan actually feel this way? Could it be that he is actually majorly pessimistic, but is using his soothing sweet-song voice and obvious clout and earned respect to somehow buck recent trends? Bush's speech didn't do much for our faltering economy, but will Greenspan's? Can one man's mere words possibly change the course of history? Well?
J.K. Galbraith shocked at scale of corporate failures.
"I can only say I hadn't expected to see this problem on anything like the magnitude of the last few months – the separation of ownership from management, the monopolisation of control by irresponsible personal money-makers." Myself and chrispy
came to the same conclusion on the drive home from the resolutely un- (rather than anti-) corporate Glastonbury Festival
today. Profit is valued and rewarded by the vast majority of corporations above all else. As a consquence, people with the same values dominate executive positions, to the exclusion of those with more 'humanitarian' or longer-term outlooks. Where is the balance? Should we make hippie non-exec directors compulsory? Or should I just go back to bed and let the drugs wear off???
Understanding what makes America tick
"The belief that America is exceptional, in the double sense that it is superior and that it is different...The United States had a mission, a manifest destiny, to change the world in its image. This conviction echoes down through American history....Other countries—France, Britain, Russia—have from time to time in their history felt a sense of mission, of carrying their civilisation to other peoples and territories. But in their cases it has been episodic and not deeply rooted—usually limited to when their power was at its zenith and usually clearly recognisable as a rationalisation for what they were doing for other reasons. In the case of the United States, it has been constant and central
." [Centre of Independent Studies
in Sydney via aldaily
] American Exceptionalism. Mix it with sole super power status and massive military might. Should make it quite an intoxicating ride these next few years.
How geeks can do away with cash and be their own banks.
We've been around the topic of alternative economics
a few times before on MeFi, but this piece from the reliably clever Shift
makes it all clear to me. How you can do it, and why. And it actually suggests that programmers are the best people to manage a new money system.
There's even a Bay Area monetary guru
to hand. Does this make as much sense to anyone else as it does to me?
Walk for Capitalism
is scheduled for this weekend (Sunday, December 2nd) in over 100 cities around the world. One of the few rallies actually for
something, and certainly first global campaign for capitalism
in history. Will you stand up for the principles set forth in their position statement
an interesting article about the economics of globalization.
Why the world needs America to cheer up
This article claims America and New York in particular have lost faith in an economic recovery. Can any New Yorkers tell me whether this is true?
A side note: The (London) Times
has been excellent since 9/11 IMO, although the site desperately needs a redesign. I'll do it! Employ me!
Recognising "Renegage Economics"? Joseph Stiglitz
, who was famously cast into the wilderness by the IMF and World Bank
, walked off with a share of this year's Nobel Prize for Economics, for his work on the asymmetric benefits of unrestricted "open markets": in short, the way that promoting "free trade" favours the developed nations over the developing. A calculated fuck-you to the neo-liberal mainstream, or a recognition that the critique of globalisation extends well beyond street protesters?
Is Wage Insurance the Answer?
Central to the ongoing debate on globalization is whether free trade is a good thing or not because it pits capital against labor. Like a lot of policy issues (and politics :) trade helps some but hurts others, while polarizing and often making enemies of people on either side of the debate. Wage insurance might provide a middle ground where people can come together. (more inside!)
Alberta will face a disastrous competitive and economic disadvantage
if Canada signs the Kyoto accord. Meanwhile, this year has been one of the worst for smog in Toronto.
Some municipalities in Ontario are voluntarily looking towards alternate energy sources because they feel, in the long run the costs will be lower (lower health costs, avoiding higher fossil fuel costs, etc. - sorry, no link) What do you think? Is it possible to have economically viable alternative energy, and is the US setting a bad example for countries that feel they need to compete?
This is truly awesome.
Awesome. Awesome. Awesome. Awesome. Awesome.
Just the best use of flash, collaborative model/data building and use of interactive interface to explain a complex issue... i.e. the interconnections of money, influence and power in boardrooms of the global economy.
Conceived designed and built by Josh ON and the FutureFarmers
I think it's going to move to a more permanent and snappier URL once it's fully ready for prime-time... I hope Josh and the gang don't mind me posting it here... but it's just too good not too... It genuinely deserves a lot of praise and attention, IMHO.
Was the bust really a Bust
(See below)? Douglas Rushkoff doesn't think so. But then, he's a pretty optimistic guy, if you ask me. (Warning, his article links to MetaFilter... Does that count as a self-link?)
Is the downturn over?
Looks like the dotcom downturn is levelling. Have most of the bad ideas seem to have shaken out of the market?
the arrogance of wealth
from of all places the notoriously faux-american national post
"Be nice to business and rich people. They pay the bills."
excuse me, but i don't see any millionaires paying my
"At some point
Yahoo! will shift emphasis towards a billing relationship, that is as good as fact. What they need to decide, however, is whether to lead with a subscription or ISP model."
Abolish corporate taxes!?
Just saw this on c-span. I doubt it'll happen, but this is the view of our Treasury Secratary (and former CEO of Alcoa). It's on the frontpage of the FT, wonder if it'll make headlines in the States.
¿Headed south anytime soon?
This fun, if somewhat depressing, little site is the work of the South to the Future
gang. These wicked, evil folks have taken it upon themselves to try and educate
the masses here in the SF bay area. What troubles me is despite the pervasive nature of the dang ol' Innernet
on our everyday lives, I don't see a lot of people buying into causes of this nature. Maybe I am just jaded and exhausted from dodging SUVs all over town. I mean, there are a lot of hills in SF so why shouldn't people have monster 4X4s? On a lighter note, this seems to be a neat little side project
Anti-globalisation protesters "make me want to vomit"
says Michael Moore, head of the World Trade Organisation. Which is funny, since *he* makes *me* want to vomit, too. "Because the poorest people on our planet, they are the ones that need us the most", says Mr. Moore. Oh, the sincerity in his words...
Charging for software as a service.
As soon as the software vendors get this ironed out the hardware vendors are going to want in too. Soon you'll be paying monthly service fees based on how much you use your computer. (More ranting inside) ->
"Mr Bush, the World Doesn't Want to Be American"
"... it is time for America's electorate to be told the blunt truth: that the present situation of the United States, with a part of its population able to enjoy a life of extraordinary comfort and privilege, is not tenable as long as an enormous portion of the world lives in abject poverty, degradation and backwardness."
One Year After Seattle
-- "A year has passed since the World Trade Organization's "Millennium Round" collapsed under clouds of tear gas in Seattle," writes Mark Weisbrot
, in this useful overview of what was -- and is -- at stake. "The debate over globalization has been altered, perhaps permanently, to include some of the concerns of civil society: poverty and inequality, economic instability, and the environmental costs of globalization...."
marchFirst circles the bowl...
Too bad. I thought it would be cool to work for them but now analyst are predicting the demise of the company. I wonder if they will have a great deals on Macs when they go bankrupt?
Here is an interesting account of S11
written by a journalist who went to protest on his day off. More inside...
How to tilt at windmills.
What these guys don't undestand is that Apple can't make money selling software. They develop software so that they can sell the hardware on which it runs, which is their real profit center.
China, our new buddy
It seems like history may be made today. I hope that if China does receive favorable trade status that it will go to improve human life in that nation and improve ties between our countries.
I'd like to buy China a Coke...
Worth has a great story
on how easy it would be for Goto.com to exploit its paying customers. (There may be some registration issues with this link; if it fails, go to the Worth home page
and click on "The Easy Way to Get Rich Click.")
The Top Economic Events of the Twentieth Century
is an interesting list. It's good to know that people truly realize the economic importance of things like the Apple II and the Web browser.