The Locust Economy I was picking the brain of a restauranteur for insight into things like Groupon. He confirmed what we all understand in the abstract: that these deals are terrible for the businesses that offer them; that they draw in nomadic deal hunters from a vast surrounding region who are unlikely to ever return; that most deal-hunters carefully ensure that they spend just the deal amount or slightly more; that a badly designed offer can bankrupt a small business.
He added one little factoid I did not know: offering a Groupon deal is by now so strongly associated with a desperate, dying restaurant that professional food critics tend to write off any restaurant that offers one without even trying it.
[more inside]
posted by the man of twists and turns
on Apr 11, 2013 -
73 comments
Recent posts
here,
here and
here discuss a growing sense that climate change is going to be worse than we thought. A link to Charles Stross's musing on a future that included climate change was discussed on MeFi
here.
But Kim Stanley Robinson asks a slightly different question: If capitalism is the driver of climate change,
what happens next? What does
post-capitalism look like?
posted by BillW
on Apr 9, 2013 -
90 comments
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
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
The Incentive Bubble (
ungated pdf) - "The fraying of the compact of American capitalism by rising income inequality and repeated governance crises is disturbing. But misallocations of financial, real, and human capital arising from the financial-incentive bubble are much more worrisome to those concerned with the competitiveness of the American economy."
[more inside]
posted by kliuless
on Apr 3, 2012 -
54 comments
BBC News asks independent trader Alessio Rastani "
what would keep investors happy, make them feel more confident?" and gets a surprisingly honest answer:
"Personally, it doesn't matter. See, I'm a trader. I don't really care about that kind of stuff. If I see an opportunity to make money, I go with that. So, for most traders, we don't really care that much about how they're going to fix the economy, about how they're going to fix the whole situation; our job is to make money from it. And, personally, I've been dreaming of this moment for three years. I have a confession which is I go to bed every night and dream of another recession, I dream of another moment like this." [SLYT]
posted by finite
on Sep 26, 2011 -
235 comments
Prelude to Federation - Like a neocolonial
SEZ (or
TAZ)
Paul Romer,
not to be confused with
David,
posits "less developed countries contract with capitalist nations to set up Hong Kong's for them... that we rethink sovereignty (respect borders, but maybe import administrative control); rethink citizenship (support residency, but maybe import voice in political affairs); and rethink scale (instead of focusing on nations, focus on cities—on city states like Hong Kong and Singapore)." cf.
neocameralism [
1,
2,
3]
[more inside]
posted by kliuless
on May 21, 2009 -
16 comments
I asked Nathan Myhrvold, C.E.O. of Intellectual Ventures and widely considered to be one of the smartest people in technology, if he is brilliant. "If you put yourself in that camp, you might be correct," he teased. "But then, you're also an asshole." The Brilliant Issue profiles Porfolio's picks for best game-changers, upstarts, rebels, connectors and other influencers.
[more inside]
posted by Non Prosequitur
on May 2, 2008 -
10 comments
Wealth Spawns Corruption.
Socialist economies could be more at risk from corruption than
Liberal ones. Ironically, wealth condensation poses the greatest danger to economies that impose constraints on the accumulation of great wealth - broadly speaking,
Socialist economies.
Liberal economies that maintain free and unrestricted trade are less susceptible.
posted by stbalbach
on Jan 28, 2002 -
8 comments
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?
posted by dagny
on Nov 29, 2001 -
34 comments
