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The New York Times - Complaints Aside, Most Face Lower Tax Burden Than in 1980

The New York Times examines how American taxes have changed since 1980
posted by East Manitoba Regional Junior Kabaddi Champion '94 on Nov 30, 2012 - 105 comments

Some Of That Soul Searching That We Were Told Was Called For

Bruce Bartlett tells the story of how he lost faith in the Republican Party.
posted by Ipsifendus on Nov 28, 2012 - 162 comments

Obliged Subjects

Her Majesty the Queen has been pleased to approve the appointment of Mark Carney as Governor of the Bank of England from 1 July 2013. He will succeed Sir Mervyn King. [more inside]
posted by vozworth on Nov 27, 2012 - 48 comments

Has politics gone peer-to-peer?

Has politics gone peer-to-peer? A rich 90-minute panel discussion with Steven Johnson, author of "Future Perfect: The Case for Progress in a Networked World", featuring Yochai Benkler, Susan Crawford and Lawrence Lessig.
posted by mhjb on Nov 26, 2012 - 6 comments

Social Enclosures “R” Us

Who's the Shop Steward on Your Kickstarter? "The true product for sale on Kickstarter is not your art project, but your community and networks. ... Our projects that facilitate the funding are a side effect, a cost of doing business—the business of drilling our relationships for all they are worth."
posted by mykescipark on Nov 26, 2012 - 35 comments

social impact bonds

Are Social Impact Bonds a good way to invest in public services? "Imagine a contract where private investors are paid by the government if there's a decrease in homelessness or convicts re-offending. It's a an idea that's taking shape in the UK and some US states. And now the Canadian government is considering piloting social impact bonds. Critics say it's a way of governments shirking their responsibilities." CBC's "The Current" reports. [more inside]
posted by flex on Nov 20, 2012 - 29 comments

The Morgenthau Plan and the Marshall Plan

Perhaps the most fruitful way to look at the debate between Morgenthau and Marshall that was carried on--largely below the surface, largely without explicit confrontation--at the end of WWII is that it was an attempt to figure out how to resolve call it two historical problems: the problem of European military culture, and the problem of modern industrial war. Economist Brad DeLong explains.
posted by shivohum on Nov 11, 2012 - 22 comments

WILD MASS GUESSING

The Futurist Magazine along with The World Future Society predicts the future with a list of the top trends and forecasts for 2013 and beyond.
posted by The Whelk on Nov 9, 2012 - 53 comments

Gas shortages in wake of Sandy prompt price gouging debate

A massive shortage of gas all over New York and New Jersey is fueling hours-long lines stretching blocks or even miles. A big part of the problem has been power shortages to gas stations and refineries. Nevertheless, some argue that laws preventing gas prices from spiking in response to the disaster ("price gouging") are making things much worse, discouraging businesses from staying open in tough conditions and preventing entrepreneurs from profiting from any clever ways of increasing supply. Others admit gouging has some advantages, but still consider it ethically dubious. Gouging seems to be happening informally regardless.
posted by shivohum on Nov 4, 2012 - 494 comments

Coronet Instructional Films

From the mid 40s to the mid 50s Coronet Instructional Films were always ready to provide social guidance for teenagers on subjects as diverse as dating, popularity, preparing for being drafted, and shyness, as well as to children on following the law, the value of quietness in school, and appreciating our parents. They also provided education on topics such as the connection between attitudes and health, what kind of people live in America, how to keep a job, supervising women workers, the nature of capitalism, and the plantation System in Southern life. Inside is an annotated collection of all 86 of the complete Coronet films in the Prelinger Archives as well as a few more. Its not like you had work to do or anything right? [more inside]
posted by Blasdelb on Nov 1, 2012 - 41 comments

You mean they sat on the platform with you?

In the spirit of the Nobel season, Yasha Levine discusses the history of the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel as a PR gimmick for laissez-faire economics, and how its existence is an affront to the Nobel legacy.
posted by clarknova on Oct 26, 2012 - 26 comments

Are Healthy Foods Really More Expensive?

Are Healthy Foods Really More Expensive? (6.78 MB PDF) It turns out that it depends on how you measure the price. In a recent study by the USDA, some 4,439 foods were compared using the following metrics: the price of food energy ($/calorie), the price of edible weight ($/100 edible grams), the price of an average portion ($/average portion), and the cost of meeting the federal dietary recommendations for each food group. The study found that for all metrics except the price of food energy ($/calorie) healthy foods cost less than less healthy foods (defined as foods that are high in saturated fat, added sugar, and/or sodium, or that contribute little to meeting dietary recommendations).
posted by Jasper Friendly Bear on Oct 20, 2012 - 123 comments

Sinking.

How Venice's 1% put an end to social mobility, and what the US can learn from it - SLNYTOP
posted by The Whelk on Oct 14, 2012 - 50 comments

Why Obama Now

Why Obama Now - from Simpsons/Family Guy animator Lucas Gray [more inside]
posted by East Manitoba Regional Junior Kabaddi Champion '94 on Oct 11, 2012 - 61 comments

The in-world economics of online games

“Economic theory has come to a dead end — the last real breakthroughs were in the 1960s,” says Yanis Varoufakis, a Greek economist recently hired by the video-game company Valve. “But that’s not because we stopped being clever. We came up against a hard barrier. The future is going to be in experimentation and simulation — and video game communities give us a chance to do all that.”
posted by Chrysostom on Oct 1, 2012 - 25 comments

Buying useful things, like roads and universities and health care and solar energy and spaceships, should be better stimulus than fighting wars.

"Liberals have not always been very good at communicating why liberalism works. There’s many reasons for this, but part of it is that it can be hard to defend the obvious from an absurd and deceptive attack. For half a century you had to be a crank to oppose what Roosevelt accomplished; liberals got out of the habit of arguing for their beliefs. I hope this page will help. Liberals don’t need to apologize for their vision of how American society should work. Liberalism saved American capitalism and democracy, defeated Naziism, created a prosperous middle class, and benefited every sector of society, from the back streets to Wall Street. " Mefi's own Zompist (previously) on Why Liberalism Works.
posted by The Whelk on Sep 30, 2012 - 109 comments

15 hour working week, where art thou?

The Golden Age, an essay by prominent Australian economist John Quiggin, reflecting on the current relevance and future possibilities of Keynes 1930 essay, Economic Possibilities for our Grandchildren.
posted by wilful on Sep 27, 2012 - 16 comments

gr0wth

Have we reached the end of economic growth?
posted by adamdschneider on Sep 27, 2012 - 74 comments

Is the juice worth the squeeze?

It seems as if stealing bikes shouldn’t be a lucrative form of criminal activity. Used bikes aren’t particularly liquid or in demand compared to other things one could steal (phones, electronics, drugs). And yet, bikes continue to get stolen. What happens to these stolen bikes and how do they get turned into criminal income?
posted by Obscure Reference on Sep 20, 2012 - 95 comments

TARP's former Inspector General is mad as hell

The American people “should be enraged by the broken promises to Main Street and the unending protection of Wall Street” writes Neil Barofsky, former Inspector General of the Troubled Asset Relief Program in his new book, Bailout, about his time in that office. His trenchant criticisms of Washington egos, moneyed interests, and political games has some calling him an "idealistic alien" and others vehemently defending him. Treasury Secretary Timothy Geithner comes off particularly poorly in Bailout, unsurprising in light of his well-known feud with Barofsky over the efficacy of the bailouts. (previously)
posted by shivohum on Sep 11, 2012 - 39 comments

The limit does not exist

The complete guide to America's jobs crisis and the failure of monetary policy using animated gifs
posted by Hypnotic Chick on Sep 11, 2012 - 16 comments

"Distribution is the core of the problem we face."

Trade-offs between inequality, productivity, and employment - "The poor do not employ one another, because the necessities they require are produced and sold so cheaply by the rich. The rich are glad to sell to the poor, as long as the poor can come up with property or debt claims or other forms of insurance to offer as payment..." [more inside]
posted by kliuless on Sep 4, 2012 - 45 comments

use value vs. exchange value

What Is Value? What Is Money? (via via) [more inside]
posted by kliuless on Sep 1, 2012 - 15 comments

China in Revolt?

"Today, the Chinese working class is fighting. More than thirty years into the Communist Party’s project of market reform, China is undeniably the epicenter of global labor unrest." Eli Friedman from Jacobin
posted by ageispolis on Aug 29, 2012 - 78 comments

Pick your side. Pick your history.

"Some date the crisis to August 9 2007, the day it became clear that Europe’s banks were up to their necks in US housing debt. The ECB flooded markets with €95bn of liquidity. It seemed a lot of money then. The term “trillion” was still banned by the Telegraph style book in those innocent days. We have since learned to swing with the modern dance music from central banks." [Five years on, the Great Recession is turning into a life sentence]
posted by vidur on Aug 13, 2012 - 101 comments

Taxes and inequality

The comparative experience thus suggests that for inequality reduction, it is the quantity of taxes rather than the progressivity of the tax system that matters most. Affluent countries that achieve substantial inequality reduction do so with tax systems that are large but no more progressive than ours [America's]. [more inside]
posted by mattn on Aug 13, 2012 - 31 comments

Paul Ryan as Romney's running-mate

Paul Ryan. Seven-term congressman for Wisconsin's 1st District. Chairman of the powerful House Budget Committee. Architect of the controversial Ryan Budget -- a "Path to Prosperity" [PDF - video - CBO] that would slash trillions from the federal budget, sharply curtail taxes on the wealthy, and transform Medicare into a private voucher system. Proponent (vid) -- and renouncer -- of Ayn Rand 's Objectivism. Social Security beneficiary. Hunter. Weinermobile driver. And as of this morning, the 2012 Republican candidate for Vice President of the United States of America. [more inside]
posted by Rhaomi on Aug 11, 2012 - 1550 comments

Financial Markets, Politics and the New Reality

Financial Markets, Politics and the New Reality: "Louis M. Bacon is the head of Moore Capital Management, one of the largest and most influential hedge funds in the world. Last week, he announced that he was returning one quarter of his largest fund, about $2 billion, to his investors, [saying] it is impossible to make money when there is heavy political involvement, because political involvement introduces unpredictability in the market… Adam Smith and David Ricardo, who modern investors so admire, [never] used the term "economics" by itself, but only in conjunction with politics; they called it political economy… The investors' problem is that they mistake the period between 1991 and 2008 as the norm and keep waiting for it to return."
posted by the mad poster! on Aug 9, 2012 - 36 comments

Hierarchies of hats will still be allowed (nay, encouraged)

The current system of corporate governance is bunk. Capitalist corporations are on the way to certain extinction. Replete with hierarchies that are exceedingly wasteful of human talent and energies, intertwined with toxic finance, co-dependent with political structures that are losing democratic legitimacy fast, a form of post-capitalist, decentralised corporation will, sooner or later, emerge.
An analysis of the management and organizational style of Valve Software.
posted by barnacles on Aug 5, 2012 - 31 comments

How much is enough?

Robert and Edward Skidelsky talk about their book "How much is enough." Mixing economics and philosophy will obviously cause a lot of debate, but they do raise some valid points.
posted by 00dimitri00 on Aug 2, 2012 - 25 comments

Mitt Romney's cousin explains the history of the GOP and Mormonism through twitter (and other interesting things)

Miles Kimball tells the history behind the Mormon church's close ties to the GOP through his twitter account. [more inside]
posted by scunning on Jul 28, 2012 - 25 comments

Thank God for Taxes

...But most of all, I am emerging from this drama with a renewed appreciation for the value of my taxpayer-supported public services. The Berkeley Fire Department did right by me — not only by saving most of my house from burning to the ground, but also by demonstrating real human kindness and connection in the middle of fire and chaos. In the rubble, I found magic. And in a strange way, I feel like I deserved it. In Berkeley, we are addicted to high taxes — in the 25 years I’ve lived here, I can’t even count how many times I and my fellow citizens have said a resounding yes to yet another tax hike or bond measure. Two weeks ago, I got my money’s worth. [more inside]
posted by latkes on Jul 13, 2012 - 86 comments

carbon pricing for Australia

Yesterday Australia joined many developed nations in putting a price on carbon pollution (fixed at $23/tonne CO2e for three years) (prev). Despite extensive compensation, this moderate economic reform has proved enormously unpopular ("based on a lie") and is expected to be repealed if/when the Federal Opposition are returned to government.
posted by wilful on Jul 1, 2012 - 106 comments

"Whereas the left is always in danger of talking itself into the ground."

What's also obvious is that this phase of Occupy, with talk of credit unions and occupying the SEC, while eminently worthy, is also kind of boring, especially when compared to the thrill of Occupy's park phase. Some, though, are ready to move on. "It's easy to go back to the park occupation and fetishize it, in a way," says Occupy Chicago's Brian Bean. "I prefer not to run a mini-society – I want to run society." - The Battle For The Soul Of Occupy Wall Street - Rolling Stone - Mark Binelli.
posted by The Whelk on Jun 30, 2012 - 193 comments

See Paradise for a mere $625,000 a week.

Jon Ronson (whose book The Psychopath Test was the basis of a This American Life episode ) interviews folks living in America at several varied levels of income in: GQ - Amber Waves of Green.
posted by 1f2frfbf on Jun 29, 2012 - 39 comments

Tie game. Bottom of the 9th. Bases loaded. Two outs. Three balls. Two strikes. And the pitch...

In less than an hour, the Supreme Court will hand down its final judgment in what has become one of the most crucial legal battles of our time: the constitutionality of President Obama's landmark health care reform law. The product of a strict party line vote following a year century of debate, disinformation, and tense legislative wrangling, the Affordable Care Act would (among other popular reforms) require all Americans to buy insurance coverage by 2014, broadening the risk pool for the benefit of those with pre-existing conditions. The fate of this "individual mandate," bitterly opposed by Republicans despite its similarity to past plans touted by conservatives (including presidential contender Mitt Romney) is the central question facing the justices today. If the conservative majority takes the dramatic step of striking down the mandate, the law will be toothless, and in danger of wholesale reversal, rendering millions uninsured, dealing a crippling blow to the president's re-election hopes, and possibly endangering the federal regulatory state. But despite the pessimism of bettors, some believe the Court will demur, wary of damaging its already-fragile reputation with another partisan 5-4 decision. But those who know don't talk, and those who talk don't know. Watch the SCOTUSblog liveblog for updates, Q&A, and analysis as the truth finally comes out shortly after 10 a.m. EST.
posted by Rhaomi on Jun 28, 2012 - 1173 comments

The Economic History of the Last 2,000 Years in 1 Little Graph

GDP since Jesus. That headline is a big promise. But here it is: The economic history of the world going back to Year 1 showing the major powers' share of world GDP, from a research letter written by Michael Cembalest, chairman of market and investment strategy at JP Morgan. everything to the left of 1800 is an approximation of population distribution around the world and everything to the right of 1800 is a demonstration of productivity divergences around the world. [more inside]
posted by Golden Eternity on Jun 22, 2012 - 79 comments

the dawn of a Star Trek generation

In Praise of Leisure - "Imagine a world in which most people worked only 15 hours a week. They would be paid as much as, or even more than, they now are, because the fruits of their labor would be distributed more evenly across society. Leisure would occupy far more of their waking hours than work. It was exactly this prospect that John Maynard Keynes conjured up in a little essay published in 1930 called 'Economic Possibilities for Our Grandchildren.' Its thesis was simple. As technological progress made possible an increase in the output of goods per hour worked, people would have to work less and less to satisfy their needs, until in the end they would have to work hardly at all... He thought this condition might be reached in about 100 years — that is, by 2030." (via) [more inside]
posted by kliuless on Jun 22, 2012 - 117 comments

Stop measuring happiness!

Happyism: The Creepy New Economics of Pleasure. Economist Dierdre McCloskey, in the New Republic, digs into the mathematical underpinnings of the scientific study of happiness. Executive summary: she doesn't like what she finds.
posted by escabeche on Jun 17, 2012 - 26 comments

"And by the way, your kid's stroller sucks."

The Mommy-Fight Site. What does it mean to raise a child in "America’s highest-income, best-educated Census area? D.C. Urban Moms and Dads might be as close as it gets to a field guide to parentis Washingtonianis" [more inside]
posted by zarq on Jun 14, 2012 - 80 comments

99p Stores vs Poundland

Why 99p is sometimes worth more than £1
posted by mippy on Jun 14, 2012 - 40 comments

Tails of the unexpected

Tails of the Unexpected: "Normality has been an accepted wisdom in economics and finance for a century or more. Yet in real-world systems, nothing could be less normal than normality. Tails should not be unexpected, for they are the rule." An eminently human-readable explanation of why normal models fail to describe the uncertainties of our abnormal world. [more inside]
posted by ecmendenhall on Jun 9, 2012 - 19 comments

sovereignty and taxation

David Graeber: Of Flying Cars and the Declining Rate of Profit (via) [more inside]
posted by kliuless on Jun 8, 2012 - 85 comments

Firing Aversion

How do managers decide who to lay off?
posted by reenum on Jun 7, 2012 - 52 comments

Debunking the Myth of Intuition

"Can doctors and investment advisers be trusted? And do we live more for experiences or memories? In a SPIEGEL interview, Nobel Prize-winning psychologist Daniel Kahneman discusses the innate weakness of human thought, deceptive memories and the misleading power of intuition."
posted by vidur on Jun 3, 2012 - 43 comments

Clown car counts noses

The Global Middle Class Is Bigger Than We Thought A new way of measuring prosperity has enormous implications for geopolitics and economics.[...] the number of passenger cars in circulation serves as the most reliable gauge we have about the size of a country's middle class.
posted by infini on Jun 2, 2012 - 26 comments

How Markets Crowd Out Morals: A Forum On The Corrupting Effects Of Markets

How Markets Crowd Out Morals: A Forum On The Corrupting Effects Of Markets [more inside]
posted by jhandey on May 30, 2012 - 31 comments

“Outrageous facts,” “evil villains” and “sympathetic clients.”

Louisiana monks go to court to sell their caskets. “The number one thing you should do as a public interest litigator is to get monks as your clients in every single case.”
posted by Ice Cream Socialist on May 30, 2012 - 90 comments

A small player in a bad neighbourhood.

Take a holiday in Somaliland: journey to the state that isn’t. "Positioned on the upper haunch of the Somali dog-leg the Republic of Somaliland looks initially unpromising. It is mainly dry and rocky, there are few paved roads, and the population is small and generally dispersed. ... Whilst the economy may be on the up, Somaliland still feels extremely isolated. An employee of a big international NGO who I met in the lobby of my hotel, The Mansoor, looked at me with astonishment when I said I’d come to Hargeisa for fun. 'The biggest danger here,' he said 'is dying of boredom.'"
posted by mykescipark on May 28, 2012 - 10 comments

Democrats’ gay marriage excuse

"Are Democratic politicians, like Andrew Cuomo, using social issues to distract from the economic status quo?" Article by David Sirota in Salon.
posted by Trochanter on May 26, 2012 - 37 comments

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