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The Legend of the Free Labour Market

The Legend of the Free Labour Market. From the excellent HR/Economics blog Flip Chart Fairy Tales.
posted by TheophileEscargot on Dec 21, 2014 - 8 comments

UK's Premier Foods accused over 'pay and stay' practice

Premier Foods, one of the UK's biggest manufacturers, has been asking its suppliers for payments to continue doing business with the firm.
posted by marienbad on Dec 4, 2014 - 20 comments

Oranges, lemons and forex

ON MONDAY: You are on your way to the fruit market, because you want to buy five oranges. Someone you’ve never met before accosts you on your way and says “Hey, you! Could you buy me five oranges please? I’ll give you the money when you come back and pay you ten pence for doing it”. You think what the hell, and say yes.
Daniel Davies tries to explain the FX scandal using the analogy of a fruit market.
posted by MartinWisse on Nov 14, 2014 - 48 comments

The Dreadful Inconvenience of Salad

An article from The Atlantic's Olga Khazan discusses the invention of a $1 fresh salad vending machine in order to make healthier food options available in lower socioeconomic communities like East Garfield Park in Chicago's West side. [more inside]
posted by ourt on Nov 12, 2014 - 81 comments

That's regulatory capture!

LEMONADE WAR: a short film starring Patton Oswalt, Taylor Buck, Mo Collins and Werner Herzog. View more films here from We The Economy: 20 Short Films You Can’t Afford to Miss.
posted by brundlefly on Oct 28, 2014 - 20 comments

Proper pastrami is a painstaking, labor-intensive process.

How NYC's iconic Katz's Deli stays in business
posted by The Whelk on Oct 28, 2014 - 99 comments

Markets in Clinical Trials for the Mega Rich?

If mega-rich people could buy places on clinical trials, would this help drive forward the development of new treatments that could benefit everyone? [more inside]
posted by Another Fine Product From The Nonsense Factory on Oct 27, 2014 - 67 comments

Sex and Drugs and a £1.7 Billion EU bill.

Robert Peston, BBC : "Well you may recall that the Office for National Statistics recently recalculated the size of our national income to take account of unreported or under-reported parts of the economy, such as research and development, illicit drugs and prostitution. So thanks in part to the inclusion in the official economy of our productive sex workers, our EU membership fee has been augmented." - The BBC's economic editor's take on the UK's new, increased (by £1.7 billion) EU subscription. [more inside]
posted by marienbad on Oct 24, 2014 - 17 comments

the lifeblood of our business

In the Billfold: a tale of a day-long tryout for an early stage startup, the author dubs The Start-up From Hell. The COO responds in Valleywag, "While it posted today (October 21), the article [...] relates to an experience she says she had 15 months ago. [...] At that time, Handybook employed less than 15 people. Today, Handy is two and a half years old and employs 200 people. [...] In short, as we continue to grow we're working every day to ensure the happiness of our customers and employees." [more inside]
posted by Potomac Avenue on Oct 22, 2014 - 66 comments

Artists Report Back

What is a work of art in the age of $120,000 art degrees? A new report (PDF) by activist collective BFAMFAPhD laments the shrinking job prospects and growing debt burden for art school graduates. [more inside]
posted by overeducated_alligator on Oct 21, 2014 - 60 comments

Tiger moms and helicopter parents: The economics of parenting style

The return to pushing children hard consists of the increased likelihood that they will do well later in life. How important this is to parents depends crucially on the degree of economic inequality, and in particular on the return to education. In an economy where education and effort are highly rewarded and where people with little education struggle, parents will be highly motivated to push their children hard. Thus, we expect economic inequality to be associated with intensive (authoritarian and authoritative) parenting styles. In contrast, in an economy where there is little inequality and artists and school dropouts earn only slightly less than doctors and engineers, parents can afford a more relaxed attitude, and permissive parenting should be more prevalent. [study here]
posted by forza on Oct 12, 2014 - 27 comments

A "revolution in a cornfield", or a "failed experiment"?

This Is What's the Matter With Kansas: Sam Brownback tried to create a conservative utopia. He created a conservative hell instead. [more inside]
posted by tonycpsu on Sep 30, 2014 - 106 comments

Poor man's bitcoin mining

So you wanna join this bitcoin thing but can't afford the processing cycles to actually mine stuff? Now you can earn bitcoins using pencil and paper!
posted by Foci for Analysis on Sep 29, 2014 - 25 comments

The Social Construction of Money (Wealth/Capital in the 21st Century)*

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]
posted by kliuless on Sep 19, 2014 - 62 comments

Will Portland Always Be A Retirement Community for the Young?(SLNYT)

Portland’s paradox is that it attracts so many of “the young and the restless,” as demographers call them, that it has become a city of the overeducated and underemployed — a place where young people are, in many cases, forced into their semiretirement.
posted by MoonOrb on Sep 16, 2014 - 91 comments

"And I’m going to keep doing it, unless you pay me to stop."

Don’t Want Me to Recline My Airline Seat? You Can Pay Me [New York Times]
"...airline seats are an excellent case study for the Coase Theorem. This is an economic theory holding that it doesn’t matter very much who is initially given a property right; so long as you clearly define it and transaction costs are low, people will trade the right so that it ends up in the hands of whoever values it most. That is, I own the right to recline, and if my reclining bothers you, you can pay me to stop."

posted by Fizz on Aug 27, 2014 - 548 comments

Hello my lovely Sloggers!

"Using contractors it calls "brand ambassadors," Uber requests rides from Lyft and other competitors, recruits their drivers, and takes multiple precautions to avoid detection. The effort, which Uber appears to be rolling out nationally, has already resulted in thousands of canceled Lyft rides and made it more difficult for its rival to gain a foothold in new markets. Uber calls the program "SLOG," and it’s a previously unreported aspect of the company’s ruthless efforts to undermine its competitors."
posted by Potomac Avenue on Aug 27, 2014 - 94 comments

downsides of the ice bucket challenge

Why the Ice Bucket Challenge is bad for you: "The ALS campaign may be a great way to raise money – but it is a horrible reason to donate it" [more inside]
posted by flex on Aug 25, 2014 - 151 comments

It presumably refers to either a kind of sofa or a kind of birth control

The Upshot asked: Where are the hardest places to live in the U.S.? (A bit more on the ranking.) Now, given continuing economic divergence (previously): What do the two Americas search for?
posted by psoas on Aug 19, 2014 - 42 comments

Millennials Don't Stand A Chance (gasp!)

Millennials Don't Stand A Chance. A terrific debate from Intelligence Squared: "...spotlight is shown on millennials and their use of revolutionary technology while growing up in a time of recession. Some think they are coddled, narcissistic and lazy. Have we let conventional wisdom blind us to the millennial's openness to change, innovation, and optimism in the face of uncertainty, which, in any generation, are qualities to be admired?" (running time ~50:00) [more inside]
posted by xtian on Aug 14, 2014 - 51 comments

Another Buzzword Bites the Dust

FiveThirtyEight's Ben Casselman has crunched the economic numbers and determined: Corporate America Has NOT Been Disrupted. "By a wide range of measures, the advantages of incumbency in corporate America have never been greater." There are fewer startups hiring fewer people and failing more often. Considering that "entrepreneurship is a critical source of jobs in the economy (and) a major driver of productivity growth", a more accurate 'd-word' may be Derangement.
posted by oneswellfoop on Aug 8, 2014 - 27 comments

The million-dollar headliners, the Outkast reunions, the Ferris wheels

Why the Summer Music Festival Bubble is About to Burst.
posted by naju on Aug 5, 2014 - 44 comments

Too many brewers hopped on the craft bandwagon

The highway, however, is getting mighty crowded. Hundreds of different beers debut weekly, creating a scrum of session IPAs, spiced witbiers, and barrel-aged stouts scuffling for shelf space. For consumers, the situation is doubly confusing. How can you pick a pint on a 100-brew tap list? Moreover, beer shops are chockablock with pale this and imperial that, each one boasting a different hop pun.
America has too many craft brewers.
posted by MartinWisse on Aug 1, 2014 - 241 comments

social inequality breeds game

Cockblocked by Redistribution: A Pick-up Artist in Denmark [more inside]
posted by flex on Jul 31, 2014 - 30 comments

the three-day workweek

Carlos Slim calls for a three-day working week "We've got it all wrong, says Carlos Slim, the Mexican telecoms tycoon and world's second-richest man: we should be working only three days a week." also btw: The four-day work week (previously)
posted by kliuless on Jul 21, 2014 - 84 comments

Well, that settles that.

Tip The Pizza Guy is the most exhustive, detailed, old-school website about Tipping and Pizza Delivery I have ever seen. (last seen in 2001 and still being updated.)
posted by The Whelk on Jul 19, 2014 - 59 comments

Utility, welfare, and efficiency

  1. Welfare economics: an introduction
  2. The perils of Potential Pareto
  3. Inequality, production, and technology
  4. Welfare theorems, distribution priority, and market clearing
  5. Normative is performative, not positive

posted by kliuless on Jul 7, 2014 - 7 comments

loaded questions

The loaded meaning behind 'What do you do?': [Deb] Fallows says the questions are meant to tease out socioeconomic status, political viewpoints, and cultural background. “You know that somebody’s kind of digging for information to put you into their world – how do you fit into my world?” [more inside]
posted by flex on Jul 7, 2014 - 357 comments

"Maybe I’ll start a fly and broke tumblr or something."

Fat-Booty Butch Buys A Suit On A Budget.
I’m a brown dyke living in the Bronx, working 40 hours a week at an non-profit arts center. I’m finally with it enough to pay all my bills on time, if at all. I’ve got a roof over my head and some change in my savings account. I’m not complaining. It’s been worse for me but fuck, just having a job feels like a blessing sometimes. Living in this city makes it feel like I’m scraping by with every penny just to live. My play money is tight and I don’t know how to sew. I wear clothes until they’ve given up on life and I’m not ashamed. I often wonder how regular people buy new clothes all the time. Clothes in the hood and at super-low discount shops never seem to last very long. Fancy clothes cost so much, like why isn’t everyone just running around in cloth diapers? What is someone like me supposed to do when they need to look good in real life?
[more inside]
posted by Lexica on Jul 3, 2014 - 26 comments

"Free markets killed capitalism," Or really, the other way around.

Monopoly is back: Barry Lynn on the concentration of American economic power — and how we can restore fairness. Highlights: [more inside]
posted by cthuljew on Jun 30, 2014 - 47 comments

Precarity

Generational Poverty Is the Exception, Not the Rule [more inside]
posted by eviemath on Jun 29, 2014 - 65 comments

Risky Business

The Economic Risks of Climate Change in the United States (PDF); prospectus (PDF); press coverage (YT) - "The signature effects of human-induced climate change—rising seas, increased damage from storm surge, more frequent bouts of extreme heat—all have specific, measurable impacts on our nation's current assets and ongoing economic activity. [The report] uses a standard risk-assessment approach to determine the range of potential consequences for each region of the U.S.—as well as for selected sectors of the economy—if we continue on our current path..." [more inside]
posted by kliuless on Jun 24, 2014 - 34 comments

You're way off.

What was the average American college graduate's college-related debt in 2013? What state has the highest rate of poverty in the United States? Answer these and other depressing questions (or submit your own) at How Wrong You Are.
posted by desjardins on Jun 24, 2014 - 40 comments

Dear Marc Andreessen

"Hi, Marc... You seem to think everyone's worried about robots. But what everyone's worried about is you, Marc. Not just you, but people like you. Robots aren't at the levers of financial and political influence today, but folks like you sure are. People are scared of so much wealth and control being in so few hands... Unless we collectively choose to pay for a safety net, technology alone isn't going to make it happen." [more inside]
posted by kliuless on Jun 18, 2014 - 50 comments

We had to sell and no one in Europe wanted to buy

"Maybe Angola will colonise us now," says Vasco Lourenço, the head of Associação 25 de Abril, an organisation that is trying to preserve the spirit of the 1974 revolution. Forty years ago he was one of the young army officers who took up arms to end the Salazar dictatorship and colonial wars.
While Portugal is still in the throws of recession, Angola is booming and investing heavily in its old colonial ruler. Now Portugal is struggling with the effects of this investment and the implications it brings with it.
posted by MartinWisse on Jun 13, 2014 - 17 comments

The Honey Makers

F.D.R 's New Deal explained to the public via cartoons, shorts, and newsreels
posted by The Whelk on Jun 12, 2014 - 7 comments

Open defecation solves the child mortality puzzle among Indian Muslims

“Hindus are, on average, richer and more educated than Muslims. But oddly, the child mortality rate for Hindus is much higher. All observable factors say Hindus should fare better, but they don't. Economists refer to this as the Muslim mortality puzzle. In a new study, researchers believe that they may have found a solution to the puzzle. And, surprisingly, the solution lies in a single factor – open defecation.” [more inside]
posted by XMLicious on Jun 5, 2014 - 33 comments

Bread riots were as rare as the prized Semper Augustus tulip

The Austerity Kitchen (previously) on the Dutch abundance of the 17th Century
posted by The Whelk on May 31, 2014 - 7 comments

“The City is the equivalent of Venice in the middle ages,”

An outsiders guide to the City of London.
Also of interest from the Guardian is the Joris Luyendijk banking blog which includes a ten best quotes from financial insiders and a helpful guide for novices.
posted by adamvasco on May 30, 2014 - 5 comments

The Great American Chain Gang

If our criminal-justice system had to pay a fair wage for labor that inmates provide, it would collapse
posted by MoonOrb on May 29, 2014 - 43 comments

Real Estate Goes Global

We’re all familiar with the stories of Russian oligarchs buying up mansions in London, but this is a much broader phenomenon. A torrent of capital from wealthy people in emerging markets—from China, above all, but also from Latin America, Russia, and the Middle East—has flowed into the real-estate markets of big cities in other countries, driving up prices and causing a luxury-construction boom. ... The globalization of real estate upends some of our basic assumptions about housing prices. We expect them to reflect local fundamentals—above all, how much people earn. In a truly global market, that may not be the case.
James Surowiecki writing in the New Yorker on the rise of a truly global market in real estate.
posted by Jasper Friendly Bear on May 25, 2014 - 87 comments

Baa Baa Black Sheep, have you any, uh… wool?

The Age of Uncertainty, A Personal View by John Kenneth Galbraith was a 12 (or 15) part documentary mini-series about the fickle art of economics, co-produced by the BBC, CBC, KCET & OECA, and broadcast on television in 1977. Galbraith’s dry Scottish Canadian wit, and the 70’s-style art-direction, are worth viewing for those who like this sort of thing. The parody corporate videos for the Conglomerate UGE anticipated some of the ideas explored later in the 2003 documentary The Corporation. Some parts will seem dated, considering that this series was produced in the thick of The Cold War, before the rise of Reaganomics, Thatcherism, The Fall of the Berlin Wall, the rise of the EU, yuan, electronic transfers, etc. The basic insights about the instability of financial markets are still real, as always. [more inside]
posted by ovvl on May 19, 2014 - 5 comments

"enormous transfers of wealth take place from the sheep to the wolves"

"In 1992, George Soros brought the Bank of England to its knees. In the process, he pocketed over a billion dollars. Making a billion dollars is by all accounts pretty cool. But demolishing the monetary system of Great Britain in a single day with an elegantly constructed bet against its currency? That’s the stuff of legends."
posted by MartinWisse on May 19, 2014 - 69 comments

Re-Thinking the Game of Monopoly

K. Mike Merrill at BigThink has some ideas on how to modernize Monopoly while helping players better understand the nature of our financial system.
posted by reenum on May 17, 2014 - 39 comments

The Moral Question Of Our Time: Can We Share The Planet?

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]
posted by kliuless on Apr 23, 2014 - 50 comments

Evenly distribute the future: Issuing more bio-survival tickets

VC for the people - "It's just that people who have options are much more likely to actually find success than people who don't." [more inside]
posted by kliuless on Apr 18, 2014 - 20 comments

AGOT since the year dot

A Geologic Map for Game of Thrones BASED ON CHARACTER OBSERVATIONS, OFFICIAL MAPS, AND EARTH PRINCIPLES OF THE GEOLOGIC SCIENCE [more inside]
posted by feckless fecal fear mongering on Apr 9, 2014 - 13 comments

The Unprofitable Valley

Why is so much stuff mediocre? Matt Stohrer, saxophone repairman, has an explanation he has dubbed The Unprofitable Valley.
posted by Harald74 on Apr 8, 2014 - 41 comments

Wizards finding a path out of the dungeon

How did Pathfinder become the only table-top role-playing game ever to outsell Dungeons & Dragons, outpacing it 2:1? What were the economics of the Open Gaming License, whereby Wizards of the Coast effectively gave away the rules to its flagship D&D product? Why did the table-top market collapse? This and more on Episode 73 of the Game Design Roundtable podcast, with guest Ryan Dancey, architect of the Open Gaming License strategy at Wizards of the Coast, and former marketing exec at CCP Games (makers of EVE Online). Dancey is now the business lead on Pathfinder Online, an upcoming sandbox fantasy RPG broadly in the mold of EVE and Ultima Online. TGDRT is usually about game design, but this episode is a fascinating look into the business side of the RPG world, both online and off -- from someone who has been at the heart of the most interesting business cases in the space. The first 30 minutes are all about business history and economics. [more inside]
posted by grobstein on Apr 2, 2014 - 71 comments

Welfare​+Craigslist​+SocialSecurity​*TheNSA/The prison-industrial complex

A detailed, completely mental, somewhat plausible scheme for how a Guaranteed Minimum Income would work.
posted by Diablevert on Mar 24, 2014 - 142 comments

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