International investors have a private court of appeal even in criminal matters - "A parallel legal universe, open only to corporations and largely invisible to everyone else, helps executives convicted of crimes escape punishment. [ISDS] operates unconstrained by precedent or any significant public oversight, often keeping its proceedings and sometimes even its decisions secret." (via) [more inside]
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]
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]
To a Chinese Scrap-Metal Hunter, America's Trash Is Treasure: Johnson Zeng is a Chinese trader who travels across the U.S. in search of scrap metal. By his estimate, there are at least 100 others like him driving from scrap yard to scrap yard, right now, in search of what Americans won’t or can’t be bothered to recycle. His favorite product: wires, cables, and other kinds of copper. His purchases, millions of pounds of metal worth millions of dollars, will eventually be shipped to China. [more inside]
A Renaissance in Economics The American President Ronald Reagan once quipped, “The nine most terrifying words in the English language are, ‘I’m from the government and I’m here to help.’” I get the same shivers when someone introduces themselves as an economist.
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.
History Repeats Itself in Different Hues -- a readable Q&A data dump comparing the economics and policy responses of 1990s Japan and current events
Nassim Nicholas Taleb, author of the award-winning book The Black Swan, (previously), was interviewed recently by Charlie Rose: A conversation about economics with Nassim Taleb (as well as Time Magazine.) Taleb is more pessimistic than Nouriel Roubini, (previously, previously) who thinks that the total sum for this current global meltdown may be somewhere between 10-20 Trillion US dollars.
The Scholar Ship, an international floating university stewarded by top universities in Morocco, the United Kingdom, China, Australia, Mexico, USA, and Ghana, have temporarily suspended all voyages due to lack of funds - mainly caused by the withdrawal of main sponsor and initiator Royal Caribbean International. The program ran two voyages in 2007 and 2008 before shutdown. Alumni and prospective students on Facebook and Ning are busily sourcing options to revive the organization, while Semester at Sea is offering spaces to students who were accepted for the now-cancelled voyages. [more inside]
Fair Price Energy. One persons idea for a free market solution to the fossil fuel problem.
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...