How big data increases inequality and threatens democracy - "A former academic mathematician and ex-hedge fund quant exposes flaws in how information is used to assess everything from creditworthiness to policing tactics, with results that cause damage both financially and to the fabric of society. Programmed biases and a lack of feedback are among the concerns behind the clever and apt title of Cathy O'Neil's book: Weapons of Math Destruction." [more inside]
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]
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)
The Future of (Post)Capitalism - "Paul Mason shows how, from the ashes of the recent financial crisis, we have the chance to create a more socially just and sustainable global economy." (previously; via) [more inside]
Why are little kids in Japan so independent? - 'If we had a nonviolent society, kids could walk around on their own, unafraid, like they do in Japan'. (via)
China rates its own citizens - including online behaviour: "The Chinese government is currently implementing a nationwide electronic system, called the Social Credit System, attributing to each of its 1,3 billion citizens a score for his or her behavior. The system will be based on various criteria, ranging from financial credibility and criminal record to social media behavior. From 2020 onwards each adult citizen should, besides his identity card, have such a credit code." [more inside]
The political economy of a universal basic income: "your view of what is feasible should not be backwards looking. The normalization of gay marriage and legalization of marijuana seemed utopian and politically impossible until very recently. Yet in fact those developments are happening, and their expansion is almost inevitable given the demographics of ideology... UBI — defined precisely as periodic transfers of identical fixed dollar amounts to all citizens of the polity — is by far the most probable and politically achievable among policies that might effectively address problems of inequality, socioeconomic fragmentation, and economic stagnation." [more inside]
- Welfare economics: an introduction
- The perils of Potential Pareto
- Inequality, production, and technology
- Welfare theorems, distribution priority, and market clearing
- Normative is performative, not positive
In the two years building up to the government’s NHS reform bill, the BBC appears to have categorically failed to uphold its remit of impartiality, parroting government spin as uncontested fact, whilst reporting only a narrow, shallow view of opposition to the bill. In addition, key news appears to have been censored. The following in-depth investigation provides a shocking testimony of the extent to which the BBC abandoned the NHS.
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]
The Medill School of Journalism's Washington Program revealed its Pentagon Travel project last week (multimedia). Most privately paid for travel was found to be within the bounds of federal law, but some still show a clear conflict of interest. Key findings: From 1998 through 2007, sources outside the federal government paid for more than 22,000 trips worth at least $26 million. The medical industry paid for more travel than any other outside interest — more than $10 million for some 8,700 trips, or about 40 percent of all outside sponsored travel. Among the targets: military pharmacists, doctors, and others who administer the Pentagon’s $6 billion-plus annual budget for prescription drugs. Medill acquired 10 years worth of trip data and partnered with the Center for Public Integrity to form a searchable database which includes destination, date, sponsor, sponsor nationality, cost of trip or agency.
Convict Heart Transplant A 31 year old 2 time felon just got a heart transplant, costing tax payers close to $1 million dollars. With an annual additional cost of $15,000. Right? Wrong? I'm not so sure.