1017 posts tagged with economics.
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Sapiens 2.0: Homo Deus?

In his follow-up to Sapiens, Yuval Noah Harari envisions what a 'useless class' of humans might look like as AI advances and spreads - "I'm aware that these kinds of forecasts have been around for at least 200 years, from the beginning of the Industrial Revolution, and they never came true so far. It's basically the boy who cried wolf, but in the original story of the boy who cried wolf, in the end, the wolf actually comes, and I think that is true this time." [more inside]
posted by kliuless on May 24, 2016 - 23 comments

How the rich got richer

Vox cartoon breakdown of rise in US economic inequality.
posted by MoonOrb on May 23, 2016 - 20 comments

La bohème

What is actually happening with San Francisco rental prices?

From mefi's own urban planning, history, infrastructure, transit and walkability obsessed blogger, Eric Fischer. [more inside]
posted by latkes on May 17, 2016 - 73 comments

It's from The Economist, so they should know.

You are on an airplane. Ten ways to tell you might be sitting next to an economist.
posted by storybored on May 11, 2016 - 32 comments

Redefining Wealth and Prosperity in the 21st Century

Kennedy was right - "Much that is valuable is neither tangible nor tradable... Gross domestic product (GDP) is increasingly a poor measure of prosperity. It is not even a reliable gauge of production."* [more inside]
posted by kliuless on May 11, 2016 - 10 comments

A People's History of the Cultural Revolution, 1962–1976

A New Look At China's Cultural Revolution - "Historian Frank Dikötter says newly opened archives offer fresh details about the chaos China experienced in the 1960s, when Chairman Mao urged students to take to the streets." [more inside]
posted by kliuless on May 9, 2016 - 18 comments

WORLD OF TOMORROW

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)
posted by kliuless on May 7, 2016 - 23 comments

“...the public anger about the economy is not without empirical basis.”

President Obama Weighs His Economic Legacy by Andrew Ross Sorkin [The New York Times] Eight years after the financial crisis, unemployment is at 5 percent, deficits are down and G.D.P. is growing. Why do so many voters feel left behind? The president has a theory. [more inside]
posted by Fizz on Apr 28, 2016 - 88 comments

Country of the future; always the future

Perry Anderson - Crisis in Brazil
Long read but probably the most comprehensive account I have read about how this enormous country got to the more chaotic state than usual that it is in today.
(Via LRB and previous).
posted by adamvasco on Apr 27, 2016 - 41 comments

It's not secular stagnation; it's financialization.

Elizabeth Warren has a great idea for making Tax Day less painful - "She's taking on TurboTax and other predatory companies." [more inside]
posted by kliuless on Apr 18, 2016 - 233 comments

The New Astrology

Surveys indicate that economists see their discipline as ‘the most scientific of the social sciences’. What is the basis of this collective faith, shared by universities, presidents and billionaires? Shouldn’t successful and powerful people be the first to spot the exaggerated worth of a discipline, and the least likely to pay for it? In the hypothetical worlds of rational markets, where much of economic theory is set, perhaps. But real-world history tells a different story, of mathematical models masquerading as science and a public eager to buy them, mistaking elegant equations for empirical accuracy.
posted by Alterity on Apr 17, 2016 - 70 comments

Luck is not something you can mention in the presence of self-made men.

Robert H. Frank, professor of economics at Cornell University, for The Atlantic: Why Luck Matters More Than You Might Think. "...the luckiest among us appear especially unlikely to appreciate our good fortune. According to the Pew Research Center, people in higher income brackets are much more likely than those with lower incomes to say that individuals get rich primarily because they work hard. Other surveys bear this out: Wealthy people overwhelmingly attribute their own success to hard work rather than to factors like luck or being in the right place at the right time." [more inside]
posted by amnesia and magnets on Apr 15, 2016 - 114 comments

On poverty, surviving, taxes and economic justice in America

"The Throwaways" by Melissa Chadburn, from 2012. (Via. tw: mentions rape, but not graphically.)
posted by zarq on Apr 9, 2016 - 24 comments

Good riddance, gig economy

Uber, Ayn Rand and the awesome collapse of Silicon Valley’s dream of destroying your job
posted by standardasparagus on Mar 28, 2016 - 156 comments

A proper reckoning

Feminist economics deserves recognition - "In 2014 only 12% of American economics professors were female, and only one woman (Elinor Ostrom) has won the Nobel prize for economics.[1,2,3] But in terms of focus, economists have embraced some feminist causes. Papers abound on the 'pay gap' (American women earned 21% less than men for full-time work in 2014), and the extra growth that could be unlocked if only women worked and earned more. A recent paper, for instance, claimed that eliminating gender discrimination in Saudi Arabia could bring its GDP per person almost level with America's. (Feminists, of course, consider gender equality a worthy goal irrespective of its impact on GDP.) That raises a question. Does 'Feminist economics', which has its own journal, really bring anything distinctive?" [more inside]
posted by kliuless on Mar 25, 2016 - 17 comments

Cameron, Corbyn, The City and Steampunk

Despair Fatigue - How hopelessness grew boring. The big lie of austerity, how the crushing of the working classes was commodified, the rise of Corbofuturism and how it might shape a radical 21st century.
posted by fearfulsymmetry on Mar 20, 2016 - 45 comments

sources of obligation, sources of value

an introduction to fiat money (pdf) by Steve Randy Waldman:* - "Self-reinforcing bootstrap dynamics hold as strongly for a king's token as it would for any other thing, but much more stably so, since the king can reinforce and assure the stability of his token so long as he retains the political capacity to coerce or persuade payment of tax." (via) [more inside]
posted by kliuless on Mar 17, 2016 - 40 comments

Joseph Heath on the benefits of risk-pooling and the social safety net

Privatization and demutualization. A concise explanation of the efficiency gains of health insurance and public pensions, from Canadian philosopher Joseph Heath. Heath points out that the "social safety net" provides tremendous gains from risk-pooling, completely separate from redistribution or reduced inequality. [more inside]
posted by russilwvong on Mar 10, 2016 - 9 comments

What's changed and changing about (American) politics?

The three party system - "There are three major political forces in contemporary politics in developed countries: tribalism, neoliberalism and leftism (defined in more detail below). Until recently, the party system involved competition between different versions of neoliberalism. Since the Global Financial Crisis, neoliberals have remained in power almost everywhere, but can no longer command the electoral support needed to marginalise both tribalists and leftists at the same time. So, we are seeing the emergence of a three-party system, which is inherently unstable because of the Condorcet problem and for other reasons." [more inside]
posted by kliuless on Mar 4, 2016 - 77 comments

Finance, old wood, and flame

How do you make a secure record of a debt or exchange if you can't read or write? Cut a number of notches across a stick to symbolize the assets involved, then split the wood lengthwise: you now have two tamper-proof receipts, one for each party to the transaction. The split tally method formed the basis for much of European bookkeeping between medieval times and the modern era. [more inside]
posted by Iridic on Feb 25, 2016 - 20 comments

Witness the Firepower of This Fully Armed and Operational Battle Station

Helicopter drops might not be far away - "Central banks could be given the power to send money, ideally in electronic form, to every adult citizen. Would this add to demand? Absolutely."
posted by kliuless on Feb 24, 2016 - 36 comments

The Gilded Age, Henry George, the Land Value Tax and the Progressive Era

Kim-Mai Cutler: Nothing Like This Has Ever Happened Before - "San Francisco Bay Area poverty rates in all nine counties have increased in the last economic cycle, even with the Facebook and Twitter IPOs and private tech boom. The main transfer mechanism is land and housing costs, as rising rents and evictions push service and other low-wage workers to the brink. [Henry] George's solution was a single land tax that would replace all other government revenue sources. If an owner wanted to develop their property to make it more useful or productive, George argued that they should have the right to keep the value from those efforts. But increases in the value of underlying land were created by — and ultimately belonged to — the public at large." (previously: 1,2,3) [more inside]
posted by kliuless on Feb 19, 2016 - 33 comments

1 Galleon = $25. 1 Sickle = $1.50. 1 Knut = $0.05.

A Reddit thread recently broke down the exchange rate between Wizard and Muggle money, and in doing so shed some interesting light on the financial disparity between many of the characters in the Harry Potter universe. [more inside]
posted by Hermione Granger on Feb 18, 2016 - 43 comments

Concrete Economics: The Hamilton Approach to Economic Growth and Policy

Why Hamilton—Not Jefferson—Is the Father of the American Economy - "How we can better energize America's economy, create more jobs, and provide more fulfilling lives for our citizens?" By Stephen Cohen and Brad DeLong (previously; [unfinished] book preview) [more inside]
posted by kliuless on Feb 16, 2016 - 23 comments

Fake Online Locksmiths, lead gens and Google Maps (nyt)

Fake Online Locksmiths A locksmith’s shop on a street in Sun City, Ariz. [...] turned out to be a fiction that was created for the locksmith by a web design firm using Photoshop at what is, in fact, a vacant lot. [via marginal revolution] [more inside]
posted by hawthorne on Feb 6, 2016 - 65 comments

Geeta, Rohan, and the Factory

A few weeks earlier, the male elders of their caste had decreed that village women working at nearby meat-processing factories should leave their jobs. The reason they gave was that women at home would be better protected from the sexual advances of outside men. A bigger issue lay beneath the surface: The women’s earnings had begun to undermine the old order. It came as a surprise when seven of the women, who had come to rely on the daily wage of 200 rupees, about $3, refused to stop. The women would have to, the men said, blocking the lane with their bodies. They did not expect the women to go to the police. (SLNYTimes). [more inside]
posted by Diablevert on Jan 30, 2016 - 14 comments

Economic Class != Social Class, and why.

Ever confused about why it's so hard for Americans (US) to talk about class issues? LJ blogger Siderea has some answers for you, having to do with the distinction between social and economic class. [more inside]
posted by suelac on Jan 25, 2016 - 82 comments

Looking Back on Romer (1990)

25 years ago, Paul M. Romer's oft-cited article: "Endogenous Technological Change" (pdf) was published in The Journal of Political Economy. In it, he tried to explain how technological progress and knowledge creation affected the dynamics of growth. Romer’s model (pdf) became the "primary engine that fueled a decade-long re-examination of long-term growth in economics." This past October, Dr. Romer posted 7 follow-up blog entries to his historic paper, in order to 'revisit the basics,' starting with: Nonrival Goods After 25 Years. [more inside]
posted by zarq on Jan 25, 2016 - 5 comments

10 things to know about progress in international development

10 things to know about progress in international development (.pdf) Around the world, amazing progress is being made. More than 1 billion people have been lifted out of extreme poverty since 1990, with major gains made in health and education and in other areas that contribute to human well-being.

Lots of problems remain of course. And you can still be very poor and not be below the $1.25 (in $2005) line. But a big deal.
posted by hawthorne on Jan 23, 2016 - 9 comments

Scrooge McDuck's Giant Pool of Money is Real

Planet Money's Adam Davidson ponders an emerging economic paradox in this week's NYT Magazine: Why are corporations hoarding trillions in cash? The cash stockpiles being held by many major corporations situation are unprecedented in size, and often vastly exceed any sum of money that these corporations could ever dream of spending. This behavior runs in direct opposition to most economic theories, violates assumptions about how rational corporations should act, and is being rewarded by the market (but only in some industries). So, what gives?
posted by schmod on Jan 23, 2016 - 77 comments

Going in a hand basket or wearing shades?

The idea that America’s best days are behind us sits in sharp tension with the high-tech optimism radiating from the offices of the technology start-ups and venture capital firms of Silicon Valley.(NYT) Robert Gordon just published a book on the end of US growth. His TED talk echos this.
posted by JiffyQ on Jan 20, 2016 - 27 comments

when the facts change...

Can Economics Change Your Mind? [more inside]
posted by the man of twists and turns on Jan 15, 2016 - 15 comments

CC: George Pelecanos

Bug Man Pete and I are out on the front porch at Hank Dietle’s Tavern, the last roadhouse in Montgomery County, watching the traffic crawl by on Rockville Pike. An exterminator by trade, he’s finished battling vermin for the day and is ready for a few cold ones. A pitcher of draft beer is on the table, and a lit Maverick cigarette is in his hand. He’s feeling good, as he usually is at Dietle’s. [He] has been coming here for almost half of his 56 years. But people like him have been coming to Dietle’s for a century. They were here when the Pike was a rural toll road. They were here when cold, cheap beers were illegal. They were here when Metro dug its tunnels underneath and when a gleaming new mall went up across the road. Now that the mall has been shuttered, they’re still here. -- Washingtonian Magazine on the Last Roadside Divebar in Suburbia.
posted by Potomac Avenue on Jan 13, 2016 - 39 comments

UBI in NYT

It's Payback Time for Women - "Society is getting a free ride on our unrewarded contributions to the perpetuation of the human race." (via) [more inside]
posted by kliuless on Jan 11, 2016 - 79 comments

The Unseen Threat of Capital Mobility

For the Wealthiest, a Private Tax System That Saves Them Billions -"The very richest are able to quietly shape tax policy that will allow them to shield billions in income." (via) [more inside]
posted by kliuless on Jan 4, 2016 - 31 comments

Happy New Year from the manufacturers of economic inequality

Venture capitalist Paul Graham starts 2016 with an essay on Economic Inequality
Since the 1970s, economic inequality in the US has increased dramatically. And in particular, the rich have gotten a lot richer. Some worry this is a sign the country is broken. I'm interested in the topic because I am a manufacturer of economic inequality. I've become an expert on how to increase economic inequality, and I've spent the past decade working hard to do it.
[more inside]
posted by nickrussell on Jan 3, 2016 - 88 comments

Memory, Law, and Recording

Sci-Fi Author (and Metafilter's own) Charlie Stross has an interesting thought experiment: Could you get to a technological society without the use of writing? And if so, what would that look like?
posted by The Whelk on Jan 3, 2016 - 58 comments

Thomas Piketty seminar

Discussion of Piketty's book on Crooked Timber On December 7 Crooked Timber began posting a seminar on Thomas Piketty's Capital in the Twenty-First Century. 2 responses to the book so far with 10 more to come, followed by the author's response.
posted by kingless on Dec 9, 2015 - 45 comments

When globalization comes home.

A Grim Bargain: Tax breaks, cheap land, and cheap labor make the American South attractive to foreign companies. Workers don't benefit.
posted by OmieWise on Dec 2, 2015 - 41 comments

“This station is now the ultimate power in the universe!”

It’s a Trap: Emperor Palpatine’s Poison Pill by Zachary Feinstein [.PDF]
In this paper we study the financial repercussions of the destruction of two fully armed and operational moon-sized battle stations (“Death Stars”) in a 4-year period and the dissolution of the galactic government in Star Wars. The emphasis of this work is to calibrate and simulate a model of the banking and financial systems within the galaxy. Along these lines, we measure the level of systemic risk that may have been generated by the death of Emperor Palpatine and the destruction of the second Death Star. We conclude by finding the economic resources the Rebel Alliance would need to have in reserve in order to prevent a financial crisis from gripping the galaxy through an optimally allocated banking bailout.
via: Popular Science [more inside]
posted by Fizz on Dec 2, 2015 - 38 comments

Winning the residential race

When it comes to housing, Australia and Berlin are worlds apart. In Australia, as in much of the English-speaking world, housing is treated as primarily a vehicle for investment and wealth creation, a state of affairs which began with the privately-financed speculative building of colonial times, and is firmly entrenched in the culture; 70% of Australians own their own homes, and the “Australian Dream” is still widely held to be home ownership, though these days the home may well be a trendy inner-city apartment rather than the traditional bungalow on a quarter-acre block. In Berlin, however, the vast majority of residents are renters, and they have considerable political clout, as they have had for decades. [more inside]
posted by acb on Nov 23, 2015 - 22 comments

Too many ships and/or an obsolete economic indicator?

The Baltic’s BDI index, which gauges the cost of shipping resources including iron ore, cement, grain, coal and fertilizer, has dropped to 498 points and is over 95 percent down from its all-time high of 11,793 points in 2008 before the financial crisis first hurt the sector. This index can be used as an overall economic indicator as it shows where end prices are heading for items that use the raw materials that are shipped in dry bulk. It’s important to keep in mind, though, that what the index is measuring isn’t the use of those commodities, but the shipping of them. Judging by wait times at the Panama Canal, you'd think things are busy but that traffic jam seems to be easing. [more inside]
posted by karst on Nov 21, 2015 - 23 comments

Faced with gaping moral and economic holes in society

Rewrite the rules to benefit everyone, not just the wealthy - "If there's one thing Joseph Stiglitz wants to say about inequality, it's that it has been a choice, not an unexpected, unfortunate economic outcome. That's unnerving, but it also means that citizens and politicians have the opportunity to fix the problem before it gets worse." (via) [more inside]
posted by kliuless on Nov 11, 2015 - 112 comments

A Handout Is The Best Hand Up

A generation of evidence affirms cash transfers as among the most powerful means of eliminating extreme poverty in the world. Transfers of money, along with transfers of food vouchers, have seen Brazilian inequality plummet alongside the numbers of the very poor.
posted by blankdawn on Nov 9, 2015 - 46 comments

What happens when America's food banks embrace free-market economics?

Feeding America is a network of food banks that feeds more than 46 million people. In 2005, four professors at the University of Chicago helped replace their centralized distribution system with an auction-based one, allocating "shares" to each bank to bid on donated food. The Week reports on a more detailed paper describing the transition to the new system and its overall success. [via] [more inside]
posted by Rangi on Nov 4, 2015 - 21 comments

The Economics Behind Grandma's Tuna Casseroles

"All too often, cooking is explained in terms of social norms about femininity, or immigrants, or, in one recent New York Times column, the Cold War. This is all very well for sophomore sociology classes, but why does no one ever offer simple theories such as 'they liked it'; 'they thought it looked pretty like that'; or 'that was what they could afford'? Having read quite a lot of the era's cookbooks and food writing, I find these the most likely reasons for the endless parade of things molded, jellied, bemayonnaised and enbechameled."
posted by clawsoon on Nov 4, 2015 - 63 comments

Desire Modification in the Attention Economy

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]
posted by kliuless on Nov 4, 2015 - 22 comments

How do you get to Denmark?

Where do ‘good’ or pro-social institutions come from ? Why does the capacity for collective action and cooperative behaviour vary so much across the world today ? How do some populations transcend tribalism to form a civil society ? How do you “get to Denmark”?
posted by Another Fine Product From The Nonsense Factory on Oct 21, 2015 - 31 comments

웃 i am not here and this is not really happening.

After the triumph of OK Computer, Radiohead fell into a creative tailspin -- and frontman Thom Yorke into a nervous breakdown. Exhausted from touring, hounded by press, and jaded by copycats, he escaped into the electronica scene pioneered by Kraftwerk and Warp Records -- fertile ground, the band discovered. Trading spacey rock for apocalyptic brooding, they teased their new sound not with singles or music videos but with innovative web streaming and cryptic, dreamlike "blips" -- winterlands, flocks of cubes, eyeballs, bears. After nearly breaking up over tracklist angst, they cut the kid in half. Thus fifteen years ago today, Kid A and (later) Amnesiac debuted, a confounding mix of electronic fugue, whalesong, pulsing IDM, drunken piano, and epic jazz funeral whose insights into anxiety, political dysfunction, and climate crisis would make it one of the most revered albums of the twenty-first century. See the documentary Reflections on Kid A for interviews and live cuts, or look inside for much more. [more inside]
posted by Rhaomi on Oct 2, 2015 - 63 comments

BOE Governor Carney joins Xi, Pope and Musk to fight global warming

Breaking the Tragedy of the Horizon – climate change and financial stability: Bank of England Governor Mark Carney warns investors face 'huge' climate change losses - "The Financial Stability Board, an international body monitoring the global financial system that Mr Carney chairs, may recommend G20 countries make it easier for investors to compare the 'carbon intensity' of different assets." [more inside]
posted by kliuless on Sep 30, 2015 - 9 comments

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