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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

Game behind gamed: your narrative programming for the day

How The Economic Machine Works by Ray Dalio[1] actually makes a case against austerity[2] and for redistribution, but also for money printing (and, arguably, for bailouts), while stressing the need to keep making productivity-improving public and private investments. However, it could be equally entitled: How The Industrial Age Political-Economy Doesn't Work Anymore, viz. Surviving Progress (2011)... [more inside]
posted by kliuless on Sep 25, 2013 - 28 comments

"Elites preying on the weak, the gullible, the marginal, the poor."

"We condition the poor and the working class to go to war. We promise them honor, status, glory, and adventure. We promise boys they will become men. We hold these promises up against the dead-end jobs of small-town life, the financial dislocations, credit card debt, bad marriages, lack of health insurance, and dread of unemployment. The military is the call of the Sirens, the enticement that has for generations seduced young Americans working in fast food restaurants or behind the counters of Walmarts to fight and die for war profiteers and elites."
-- War is Betrayal. Persistent Myths of Combat, an essay by Chris Hedges of Truthdig. Responses within. [more inside]
posted by zarq on Aug 9, 2013 - 57 comments

Confusedly being alive is more important than being neatly dead

Five Reasons Why I Am Not An “Artist”, an essay by Tom Ellard (formerly of 1980s industrial electropop band Severed Heads and now an academic and media art practitioner in Australia; previously), touching on areas such as artificial divisions between art and technical practice, the politics of the role of the artist and the conflict between creative exploration and artistic recognition and success.
posted by acb on Jul 13, 2013 - 25 comments

sea & sky

seaQuest: what if we could learn to live on/underneath the oceans (or in orbit)? [previously(er)] [more inside]
posted by kliuless on Mar 18, 2013 - 14 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

use value vs. exchange value

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

"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

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

Executive Compensation

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

The Extractive Institutions in US

Why Nations Fail - In a nutshell: "Proximately, prosperity is generated by investment and innovation, but these are acts of faith: investors and innovators must have credible reasons to think that, if successful, they will not be plundered by the powerful. For the polity to provide such reassurance, two conditions have to hold: power has to be centralised and the institutions of power have to be inclusive." [more inside]
posted by kliuless on Mar 15, 2012 - 78 comments

The Failure of Judges and the Rise of Regulators

The Control Revolution And Its Discontents - "the long process of algorithmisation over the last 150 years has also, wherever possible, replaced implicit rules/contracts and principal-agent relationships with explicit processes and rules."
posted by kliuless on Feb 23, 2012 - 25 comments

And we know that everything falls to dust...

Are small theaters punching a ticket to oblivion? Radical changes in the traditional structure of the lab processing and exhibition sides of the film industry have been filling the lives of small theater operators with uncertainty and worry for the last few years. Will filmstock be the next Kodachrome? (And what will that mean for the future of film preservation?) [more inside]
posted by bubukaba on Sep 28, 2011 - 36 comments

Grouponomics

The Sharing Economy (via) [more inside]
posted by kliuless on May 5, 2011 - 12 comments

brittle efficiency and shallow triumphalism

Fareed Zakaria: Are America's Best Days Behind Us? - "We have an Electoral College that no one understands and a Senate that doesn't work, with rules and traditions that allow a single Senator to obstruct democracy without even explaining why. We have a crazy-quilt patchwork of towns, municipalities and states with overlapping authority, bureaucracies and resulting waste. We have a political system geared toward ceaseless fundraising and pandering to the interests of the present with no ability to plan, invest or build for the future. And if one mentions any of this, why, one is being unpatriotic, because we have the perfect system of government, handed down to us by demigods who walked the earth in the late 18th century and who serve as models for us today and forever. America's founders would have been profoundly annoyed by this kind of unreflective ancestor worship." [for/against]
posted by kliuless on Apr 17, 2011 - 93 comments

Futurama, baby

Goodwill: Monetary policy for the 21st century
Here's my proposal. We should try to arrange things so that the marginal unit of CPI is purchased with "helicopter drop" money. That is, rather than trying to fine-tune wages, asset prices, or credit, central banks should be in the business of fine tuning a rate of transfers from the bank to the public. [more inside]
posted by kliuless on Aug 19, 2010 - 20 comments

The Woman Who Just Might Save the Planet and Our Pocketbooks

What if our economy was not built on competition? Nobel Prize winner Elinor Ostrom talks about her work on cooperation in economics. [more inside]
posted by kliuless on Apr 11, 2010 - 32 comments

Whence Altruism?

A new study suggests that humanity's sense of fair play and kindness towards strangers is determined by culture, not genetics. Speculation: the finding may be directly related to the rise of religion in human history, as well as more complex economies. (Via). [more inside]
posted by zarq on Mar 22, 2010 - 49 comments

Be it resolved that financial 'innovation' does not boost economic growth

Basicland vs. Sorrowland
A parable about how one nation came to financial ruin by Charles Munger. For extra colour there's... [more inside]
posted by kliuless on Mar 2, 2010 - 34 comments

funemployment

How a New Jobless Era Will Transform America
The Great Recession may be over, but this era of high joblessness is probably just beginning. Before it ends, it will likely change the life course and character of a generation of young adults. It will leave an indelible imprint on many blue-collar men. It could cripple marriage as an institution in many communities. It may already be plunging many inner cities into a despair not seen for decades. Ultimately, it is likely to warp our politics, our culture, and the character of our society for years to come. (via rw)
posted by kliuless on Feb 11, 2010 - 84 comments

American declinism

The End of Influence - the latest in a long series documenting the US' relative decline (esp wrt China 1 2 3 4 5) Brad DeLong and Stephen Cohen reflect on what has brought us to our past, but now fast-fading glory: "Roosevelt's strategy [entering WW2] was to make Britain broke before American taxpayers' money was committed in any way to the fight against Hitler." Before delving into our present predicament, however, it might also be useful to briefly consider some of the lessons from Bretton Woods and what the wealth of nations is really built upon.
posted by kliuless on Jan 31, 2010 - 39 comments

"The Plague of Free."

Doug Rushkoff throws down the gauntlet in his “Radical Abundance” speech at the O’Reilly Web 2.0 conference. Some highlights of the speech: “The only real possible competition to Google and their economy of faux openness would be peer-to-peer exchange.” “As a result of all this freedom the abundance of genuine creative output is declining. We are actually getting the scarce market place demanded by our currency legacy system. The same way the early Renaissance got a scarcity by killing off half the people with the plague.” Some Alternatives: 1: The development of a digital culture that actually respects the labor of individuals. 2: The creation of new modes of currency based in abundance rather than scarcity.
posted by joetrip on Nov 22, 2009 - 113 comments

Peak Rock was reached in 1965

US Crude Oil Production vs. Rock Music Quality, by year. Is Rockism the cultural equivalent of Hubbert Peak Theory?
posted by acb on Nov 11, 2009 - 41 comments

On use vs. exchange value: we must be careful about what we pretend to be

Asset inflation, price inflation, and the great moderation
Economists as penance have been trying to locate the origins of the great chain of causation that has led us to our present situation -- the worrying conclusion is that problems remain -- imbalances precipitated by a labour supply shock [1,2] and/or (the rise of) machines [1,2] have not gone away and continue to persist in decimating the ('developed world's) middle class, as evidenced by high and rising unemployment, which has led to a crisis in central banking itself. [more inside]
posted by kliuless on Oct 31, 2009 - 31 comments

On this labour day...

Social mobility, income inequality and wealth disparities. [more inside]
posted by kliuless on Sep 7, 2009 - 54 comments

Tyler Cowen on why it's OK to pay for sex

Tyler Cowen on why it's OK to pay for sex [more inside]
posted by reenum on Jul 22, 2009 - 111 comments

For kids

The story of stuff and how it's currently being played out between the political economies of China and the US (G2 'Chimerica') in an illuminating Fallows vs. Ferguson cage match. [more inside]
posted by kliuless on Jul 19, 2009 - 5 comments

What Would It Look Like?

The Global Oneness Project is exploring how the radically simple notion of interconnectedness can be lived in our increasingly complex world. They travel the globe gathering stories from creative and courageous people who base their lives and work on the understanding that we bear great responsibility for each other and our shared world. [more inside]
posted by netbros on Jun 18, 2009 - 9 comments

The Adaptive Value of Human Institutions:* Building a Better (Secular) 'Religion'

Keynes & Marx thought "that productivity would grow sufficiently to allow our needs to be met with very little labour," and that humankind's biggest preoccupation in the future would be leading lives of comfortable (or comparative) leisure. Obviously, that has not yet come to pass. But why?** Yochai Benkler (previously), for one, is working on it... [more inside]
posted by kliuless on Apr 25, 2009 - 37 comments

your leisure is my pleasure

Idle Theory: Life Does The Least
posted by kliuless on Dec 6, 2008 - 28 comments

The political-economy perspective on women's rights

Women's rights: What's in it for men? - "Women in rich countries largely enjoy gender equality while those in poor countries suffer substantial discrimination. This column proposes an explanation for the relationship between economic development and female empowerment that emphasises changes in the incentives males face rather than shifts in moral sentiment. Technological change that raises demand for human capital may give men a stake in women's rights." [more inside]
posted by kliuless on Jun 29, 2008 - 29 comments

The Coming Collapse of the Middle Class

"The Coming Collapse of the Middle Class" [more inside]
posted by kliuless on May 1, 2008 - 98 comments

It's an Attention Economy, we just live in it

Some say economics is changing so radically that attention is of more value than money or material wealth. If that's true, then should Paris Hilton and Britney Spears be considered role models? Must we each be stars in order to be a success, to get anything achieved, or to gain even the slightest traction?
posted by kmartino on Feb 28, 2008 - 32 comments

Of matrícula accounts and ITIN loans

Embracing Illegals: Companies are getting hooked on the buying power of 11 million undocumented immigrants - The Underground Labor Force Is Rising To The Surface [pdf]
posted by kliuless on Jul 11, 2005 - 30 comments

Where America Meets the World

Foreign Exchange TV with Fareed Zakaria - I'd heard about it, but thought it was only showing on OPB; checked again and lo and behold all the episodes are online! Watched a couple episodes so far; they're pretty good, esp if you're into foreign policy and stuff :D
posted by kliuless on May 26, 2005 - 4 comments

And the food had to be satisfying and taste good too, otherwise, what's the point?

The Challenge: Purchase, prepare and eat healthy, mostly organic meals on a food stamp budget. These are the results.
posted by anastasiav on Jan 4, 2005 - 65 comments

Country Studies

Country Studies: a comprehensive description and analysis of the country or region's historical setting, geography, society, economy, political system, and foreign policy.
posted by hama7 on Feb 8, 2004 - 11 comments

Art in Ruins

Art In Ruins chronicles the economic and cultural transformation of Providence, Rhode Island through the eyes of artists, architects, and urban planners.
posted by PrinceValium on Feb 7, 2004 - 3 comments

Understanding what makes America tick

Understanding what makes America tick "The belief that America is exceptional, in the double sense that it is superior and that it is different...The United States had a mission, a manifest destiny, to change the world in its image. This conviction echoes down through American history....Other countries—France, Britain, Russia—have from time to time in their history felt a sense of mission, of carrying their civilisation to other peoples and territories. But in their cases it has been episodic and not deeply rooted—usually limited to when their power was at its zenith and usually clearly recognisable as a rationalisation for what they were doing for other reasons. In the case of the United States, it has been constant and central." [Centre of Independent Studies in Sydney via aldaily] American Exceptionalism. Mix it with sole super power status and massive military might. Should make it quite an intoxicating ride these next few years.
posted by Voyageman on Apr 4, 2002 - 26 comments

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