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the three-day workweek

Carlos Slim calls for a three-day working week "We've got it all wrong, says Carlos Slim, the Mexican telecoms tycoon and world's second-richest man: we should be working only three days a week." also btw: The four-day work week (previously)
posted by kliuless on Jul 21, 2014 - 84 comments

Well, that settles that.

Tip The Pizza Guy is the most exhustive, detailed, old-school website about Tipping and Pizza Delivery I have ever seen. (last seen in 2001 and still being updated.)
posted by The Whelk on Jul 19, 2014 - 59 comments

Utility, welfare, and efficiency

  1. Welfare economics: an introduction
  2. The perils of Potential Pareto
  3. Inequality, production, and technology
  4. Welfare theorems, distribution priority, and market clearing
  5. Normative is performative, not positive

posted by kliuless on Jul 7, 2014 - 7 comments

loaded questions

The loaded meaning behind 'What do you do?': [Deb] Fallows says the questions are meant to tease out socioeconomic status, political viewpoints, and cultural background. “You know that somebody’s kind of digging for information to put you into their world – how do you fit into my world?” [more inside]
posted by flex on Jul 7, 2014 - 357 comments

"Maybe I’ll start a fly and broke tumblr or something."

Fat-Booty Butch Buys A Suit On A Budget.
I’m a brown dyke living in the Bronx, working 40 hours a week at an non-profit arts center. I’m finally with it enough to pay all my bills on time, if at all. I’ve got a roof over my head and some change in my savings account. I’m not complaining. It’s been worse for me but fuck, just having a job feels like a blessing sometimes. Living in this city makes it feel like I’m scraping by with every penny just to live. My play money is tight and I don’t know how to sew. I wear clothes until they’ve given up on life and I’m not ashamed. I often wonder how regular people buy new clothes all the time. Clothes in the hood and at super-low discount shops never seem to last very long. Fancy clothes cost so much, like why isn’t everyone just running around in cloth diapers? What is someone like me supposed to do when they need to look good in real life?
[more inside]
posted by Lexica on Jul 3, 2014 - 26 comments

"Free markets killed capitalism," Or really, the other way around.

Monopoly is back: Barry Lynn on the concentration of American economic power — and how we can restore fairness. Highlights: [more inside]
posted by cthuljew on Jun 30, 2014 - 47 comments

Precarity

Generational Poverty Is the Exception, Not the Rule [more inside]
posted by eviemath on Jun 29, 2014 - 65 comments

Risky Business

The Economic Risks of Climate Change in the United States (PDF); prospectus (PDF); press coverage (YT) - "The signature effects of human-induced climate change—rising seas, increased damage from storm surge, more frequent bouts of extreme heat—all have specific, measurable impacts on our nation's current assets and ongoing economic activity. [The report] uses a standard risk-assessment approach to determine the range of potential consequences for each region of the U.S.—as well as for selected sectors of the economy—if we continue on our current path..." [more inside]
posted by kliuless on Jun 24, 2014 - 34 comments

You're way off.

What was the average American college graduate's college-related debt in 2013? What state has the highest rate of poverty in the United States? Answer these and other depressing questions (or submit your own) at How Wrong You Are.
posted by desjardins on Jun 24, 2014 - 40 comments

Dear Marc Andreessen

"Hi, Marc... You seem to think everyone's worried about robots. But what everyone's worried about is you, Marc. Not just you, but people like you. Robots aren't at the levers of financial and political influence today, but folks like you sure are. People are scared of so much wealth and control being in so few hands... Unless we collectively choose to pay for a safety net, technology alone isn't going to make it happen." [more inside]
posted by kliuless on Jun 18, 2014 - 50 comments

We had to sell and no one in Europe wanted to buy

"Maybe Angola will colonise us now," says Vasco Lourenço, the head of Associação 25 de Abril, an organisation that is trying to preserve the spirit of the 1974 revolution. Forty years ago he was one of the young army officers who took up arms to end the Salazar dictatorship and colonial wars.
While Portugal is still in the throws of recession, Angola is booming and investing heavily in its old colonial ruler. Now Portugal is struggling with the effects of this investment and the implications it brings with it.
posted by MartinWisse on Jun 13, 2014 - 17 comments

The Honey Makers

F.D.R 's New Deal explained to the public via cartoons, shorts, and newsreels
posted by The Whelk on Jun 12, 2014 - 7 comments

Open defecation solves the child mortality puzzle among Indian Muslims

“Hindus are, on average, richer and more educated than Muslims. But oddly, the child mortality rate for Hindus is much higher. All observable factors say Hindus should fare better, but they don't. Economists refer to this as the Muslim mortality puzzle. In a new study, researchers believe that they may have found a solution to the puzzle. And, surprisingly, the solution lies in a single factor – open defecation.” [more inside]
posted by XMLicious on Jun 5, 2014 - 33 comments

Bread riots were as rare as the prized Semper Augustus tulip

The Austerity Kitchen (previously) on the Dutch abundance of the 17th Century
posted by The Whelk on May 31, 2014 - 7 comments

“The City is the equivalent of Venice in the middle ages,”

An outsiders guide to the City of London.
Also of interest from the Guardian is the Joris Luyendijk banking blog which includes a ten best quotes from financial insiders and a helpful guide for novices.
posted by adamvasco on May 30, 2014 - 5 comments

The Great American Chain Gang

If our criminal-justice system had to pay a fair wage for labor that inmates provide, it would collapse
posted by MoonOrb on May 29, 2014 - 43 comments

Real Estate Goes Global

We’re all familiar with the stories of Russian oligarchs buying up mansions in London, but this is a much broader phenomenon. A torrent of capital from wealthy people in emerging markets—from China, above all, but also from Latin America, Russia, and the Middle East—has flowed into the real-estate markets of big cities in other countries, driving up prices and causing a luxury-construction boom. ... The globalization of real estate upends some of our basic assumptions about housing prices. We expect them to reflect local fundamentals—above all, how much people earn. In a truly global market, that may not be the case.
James Surowiecki writing in the New Yorker on the rise of a truly global market in real estate.
posted by Jasper Friendly Bear on May 25, 2014 - 87 comments

Baa Baa Black Sheep, have you any, uh… wool?

The Age of Uncertainty, A Personal View by John Kenneth Galbraith was a 12 (or 15) part documentary mini-series about the fickle art of economics, co-produced by the BBC, CBC, KCET & OECA, and broadcast on television in 1977. Galbraith’s dry Scottish Canadian wit, and the 70’s-style art-direction, are worth viewing for those who like this sort of thing. The parody corporate videos for the Conglomerate UGE anticipated some of the ideas explored later in the 2003 documentary The Corporation. Some parts will seem dated, considering that this series was produced in the thick of The Cold War, before the rise of Reaganomics, Thatcherism, The Fall of the Berlin Wall, the rise of the EU, yuan, electronic transfers, etc. The basic insights about the instability of financial markets are still real, as always. [more inside]
posted by ovvl on May 19, 2014 - 5 comments

"enormous transfers of wealth take place from the sheep to the wolves"

"In 1992, George Soros brought the Bank of England to its knees. In the process, he pocketed over a billion dollars. Making a billion dollars is by all accounts pretty cool. But demolishing the monetary system of Great Britain in a single day with an elegantly constructed bet against its currency? That’s the stuff of legends."
posted by MartinWisse on May 19, 2014 - 69 comments

Re-Thinking the Game of Monopoly

K. Mike Merrill at BigThink has some ideas on how to modernize Monopoly while helping players better understand the nature of our financial system.
posted by reenum on May 17, 2014 - 39 comments

The Moral Question Of Our Time: Can We Share The Planet?

UN Climate Report: We Must Focus On 'Decarbonization', and It Won't Wreck the Economy - "The basic message is simple: We share a planet. Let's start acting like it." [more inside]
posted by kliuless on Apr 23, 2014 - 50 comments

Evenly distribute the future: Issuing more bio-survival tickets

VC for the people - "It's just that people who have options are much more likely to actually find success than people who don't." [more inside]
posted by kliuless on Apr 18, 2014 - 20 comments

AGOT since the year dot

A Geologic Map for Game of Thrones BASED ON CHARACTER OBSERVATIONS, OFFICIAL MAPS, AND EARTH PRINCIPLES OF THE GEOLOGIC SCIENCE [more inside]
posted by feckless fecal fear mongering on Apr 9, 2014 - 13 comments

The Unprofitable Valley

Why is so much stuff mediocre? Matt Stohrer, saxophone repairman, has an explanation he has dubbed The Unprofitable Valley.
posted by Harald74 on Apr 8, 2014 - 41 comments

Wizards finding a path out of the dungeon

How did Pathfinder become the only table-top role-playing game ever to outsell Dungeons & Dragons, outpacing it 2:1? What were the economics of the Open Gaming License, whereby Wizards of the Coast effectively gave away the rules to its flagship D&D product? Why did the table-top market collapse? This and more on Episode 73 of the Game Design Roundtable podcast, with guest Ryan Dancey, architect of the Open Gaming License strategy at Wizards of the Coast, and former marketing exec at CCP Games (makers of EVE Online). Dancey is now the business lead on Pathfinder Online, an upcoming sandbox fantasy RPG broadly in the mold of EVE and Ultima Online. TGDRT is usually about game design, but this episode is a fascinating look into the business side of the RPG world, both online and off -- from someone who has been at the heart of the most interesting business cases in the space. The first 30 minutes are all about business history and economics. [more inside]
posted by grobstein on Apr 2, 2014 - 71 comments

Welfare​+Craigslist​+SocialSecurity​*TheNSA/The prison-industrial complex

A detailed, completely mental, somewhat plausible scheme for how a Guaranteed Minimum Income would work.
posted by Diablevert on Mar 24, 2014 - 142 comments

Fished Out

The world's fish are in danger—as is everyone who depends on them (via) [more inside]
posted by kliuless on Mar 23, 2014 - 52 comments

What do you get when you plant kisses?

For those who don't quite "get it" when someone makes a tulip joke in any given Bitcoin thread. This is a short documentary on the phenomenon of Tulip Mania, a period in Dutch economic history when Tulips became such a hot commodity that empires were born and lives ruined all over the value of tulip bulbs. [slyt]
posted by mediocre on Mar 22, 2014 - 27 comments

The Pity-Charity Complex

"I say “you” deliberately here, because much of the writing about low-wage workers tends to obscure just that fact — that these stories could well be about you. Too much writing on the left and the right has tended to treat the people in some of the nation’s most common jobs as if they are some exotic Other rather than our neighbors, our family members and ourselves. " --Sarah Jaffe on the media's strange ways of talking about low-wage workers.
posted by The Whelk on Mar 20, 2014 - 40 comments

Aggregate Demand Management: "pass a law allowing the Fed to cut checks"

Free Money for Everyone - "A wacky-sounding idea with surprisingly conservative roots may be our best hope for escaping endless, grinding economic stagnation." (via) [more inside]
posted by kliuless on Mar 16, 2014 - 19 comments

How Obama's tech team saved his presidency a second time

Inside the Nightmare Launch of HealthCare.Gov - "Unknown to a nation following the fiasco, McDonough's assignment from the President had boiled down to something more dire than how to fix the site. As the chief of staff remembers his mission, it was 'Can it be patched and improved to work, or does it need to be scrapped to start over? He wanted to know if this thing is salvageable.' Yes, on Oct. 17, the President was thinking of scrapping the whole thing and starting over." (previously) [more inside]
posted by kliuless on Mar 3, 2014 - 120 comments

Pizzanomics

You Should Always Get the Bigger Pizza (SL NPR blog post w/interactive graph)
posted by neroli on Feb 28, 2014 - 154 comments

Documentaries and talks from the USC US-China Center

The University of Southern California's US-China Institute has a huge number of videos on YouTube regarding China, Taiwan, history, global diplomacy, etc. [more inside]
posted by jiawen on Feb 22, 2014 - 2 comments

American Promise

American Promise is a PBS documentary (live streaming through March 6) that follows two middle class African-American boys, Idris and Seun, who enter The Dalton School as young children, and follows them for 13 years. [more inside]
posted by roomthreeseventeen on Feb 16, 2014 - 14 comments

The Prisoner's Dilemma For $100, Alex

Arthur Chu has won "Jeopardy" over the last few days by employing strategies rooted in game theory. This has caused consternation among some purists.
posted by reenum on Feb 4, 2014 - 99 comments

offshore companies for everyone!

Want to get away with not paying taxes but don't have the money to make your own offshore company in the Cayman Islands? Fret not - you can hijack an existing offshore company starting from the low low price of 99 cents! [more inside]
posted by divabat on Jan 25, 2014 - 10 comments

Occupy Godwin Street

Silicon Valley venture capitalist Tom Perkins took to the op-ed page of the Wall Street Journal to compare progressive angst over income inequality to the sentiment that led to the Nazi Kristallnacht. Citing the recent kerfuffle over Google buses in San Francisco (previously) and accusations of snobbery by San Francisco resident, bestselling author, and Perkins' own ex-wife Danielle Steel (who he describes as "our number-one celebrity"), Perkins asks "Kristallnacht was unthinkable in 1930; is its descendent 'progressive' radicalism unthinkable now?" [more inside]
posted by tonycpsu on Jan 25, 2014 - 254 comments

The Library as an Economic Model in the Second Machine Age

Congress takes a casual look at the peer-to-peer economy - “Finding new ways to monetise used or existing assets has the obvious and immediate effects of raising their value and the wealth of their owners, while simultaneously reducing the value of comparable stuff owned by incumbent companies — for whom monetisation already wasn’t a problem, and who find themselves burdened by the newly competitive environment. The innovations also provide a surplus to those consumers who previously would have paid more to an incumbent. And all without any new stuff actually having to be made.” [more inside]
posted by kliuless on Jan 23, 2014 - 23 comments

listen to the wealthy scream

The return of "patrimonial capitalism": review of Thomas Piketty's Capital in the 21st century (pdf) - "Thomas Piketty's 'Capital in the 21st century' may be one of the most important recent economics books. It jointly treats theory of growth, functional distribution of income, and interpersonal income inequality. It envisages a future of relatively slow growth with the rising share of capital incomes, and widening income inequality. This tendency could be checked only by worldwide taxation of capital." [more inside]
posted by kliuless on Jan 12, 2014 - 39 comments

2013: Year of the Big Fine

Do big fines actually prompt corporations to mend their ways? Or is it just the cost of doing business? (SLNYT+video) (previously/similarly)
posted by Obscure Reference on Jan 2, 2014 - 53 comments

That's when you started graphing everything.

The 15 Best Behavioural Science Graphs of 2010-13. [more inside]
posted by aka burlap on Dec 21, 2013 - 4 comments

You are either In or you are Out

There is a fundamental disconnect between large-scale, for-profit media and the crushing power of enthusiasm, which is that when they try to control it, it instantly isn't real. It's patently unreal. It's excitement given life by force, Pet Sematary-style. But when they don't control it, it isn't profitable. And that means that when they run into people excited about their stuff, they vacillate between an Ebenezerian lack of generosity and a Professor-Harold-Hillian smarm. To own enthusiasm and to exploit it are competing instincts, much as they often seem to be twins. You can, in fact, sometimes best exploit it — or only exploit it — by leaving it alone. -- In what could be considered a Metafilter Manifesto, Mefi's own Linda Holmes takes on the multivariate economics of fandom and the internet.
posted by Potomac Avenue on Dec 20, 2013 - 23 comments

To test price theory, try a cash gift next Valentine's day.

The IGM Economic Experts Panel tackles the Inefficient Santa question: "Giving specific presents as holiday gifts is inefficient, because recipients could satisfy their preferences much better with cash." [more inside]
posted by hawthorne on Dec 20, 2013 - 59 comments

Why find more? Unburnable carbon as financial assets.

There is another bubble. Before it's burned, Coal, Oil and Gas sit for years on the balance sheets of private (and national) resource companies, as "known reserve" assets. Assets that, someday, will become revenues. Or will they? And if they won't, what will the balance sheets of ExxonMobil, Chevron, BP, Petrochina, and Gazprom actually look like? [more inside]
posted by anthill on Dec 19, 2013 - 22 comments

In Greenspan's book, ideology trumps data

Greenspan’s Iron Law is that the sum of these two numbers is approximately constant, at least for the last half-century in the United States. That is a pretty fraught claim: it means that every time the United States adds a billion dollars to Social Security benefits or Medicare payments or unemployment insurance outlays we are forcing a billion-dollar reduction in family saving or in the retained earnings of business, or an increase in government deficits, or some combination of these. ... So what is the evidence for it? Nobel-prize winning economist Robert Solow finds Alan Greenspan's latest book to be ideologically driven and embarrassing, a pity for someone who, Solow writes, was, when looking at his whole tenure, a very good chairman of the Fed.
posted by shivohum on Dec 17, 2013 - 28 comments

iPads and food banks.

Let's admit it: Britain is now a developing country.
Gender equality? The WEF ranks us behind Nicaragua and Lesotho. Investment by business? The Economist thinks we are struggling to keep up with Mali. Let me put it more broadly, Britain is a rich country accruing many of the stereotypical bad habits of a developing country.
Aditya Chakrabortty discusses the increasing hollowing out of the UK economy, as well as the City as an economically distorting resource curse.
posted by jaduncan on Dec 10, 2013 - 74 comments

“People don’t go nowhere in Brooklyn”

The number of homeless New Yorkers in shelters has risen by more than 69 percent since 2002, when Mayor Bloomberg took office. Each night as many as 60,000 people -- including more than 22,000 children, the highest number since the Great Depression, -- experience homelessness in NYC, and during the course of each year, more than 111,000 different homeless New Yorkers, including more than 40,000 children, will sleep in the city's municipal shelter system. Meet Dasani, one of the city's 'invisible children.' [more inside]
posted by zarq on Dec 9, 2013 - 112 comments

Math with Bad Drawings

Headlines from a Mathematically Literate World [more inside]
posted by Blasdelb on Dec 4, 2013 - 32 comments

Austerity: Still Bad?

Paul Krugman: Monetary and Fiscal Implications of Secular Stagnation
Crooked Timber: If this is “secular stagnation”, I want my old job back
The Global Bezzle – whence it came, where it went and why it matters (repost from 2011) [more inside]
posted by the man of twists and turns on Dec 1, 2013 - 28 comments

Love and Alienation

On Graduate School and 'Love' is yet another commentary on the economics of academic work. A younger student chimes in on the role of education in life: "much of education is oriented, for better or worse, toward making a living, rather than making a life." [more inside]
posted by eviemath on Nov 24, 2013 - 53 comments

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