560 posts tagged with economy.
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Matt Taibbi on the Ripping Off of Young America

Ripping Off Young America: The College-Loan Scandal. "The federal government has made it easier than ever to borrow money for higher education - saddling a generation with crushing debts and inflating a bubble that could bring down the economy."
posted by homunculus on Aug 16, 2013 - 142 comments

"Some things...can only happen once."

The Blip: What if everything we've come to think of as American is predicated on a freak coincidence of economic history? And what if that coincidence has run its course?
posted by Sticherbeast on Aug 12, 2013 - 107 comments

The Opt-Out Revolution, Revisited

In 2003, the New York Times published a lengthy article by Lisa Belkin about women who were choosing to leave the workforce to be stay-at-home moms: The Opt-Out Generation. In the the last ten years, the article's conclusions regarding upper-middle-class women's choices about work and motherhood have been debated, studied, rediscovered, denied, lamented, and defended. It's been noted by many that "most mothers have to work to make ends meet but the press writes mostly about the elite few who don’t." Ms. Belkin's piece also never mentioned what what a disaster divorce or the death of a spouse can create for dependent women in such situations. After a decade, the Times is revisiting the topic: The Opt-Out Generation Wants Back In.
posted by zarq on Aug 7, 2013 - 64 comments

The True Cost of Living Here

This Atlantic article about the EPI Family Budget Calculator tries to calculate the required income to live a comfortable yet modest lifestyle in various parts of the US.
posted by COD on Jul 13, 2013 - 45 comments

You Are Not an Artisan

"So long as you stop thinking in terms of crafts and aim to practice a trade instead, there is more work for humans than people realize... When people talk about saving work or jobs, they mostly talk about saving sexy, income-generating conspicuous production packaged as creative work, in a debt-fueled de facto leisure society." Writer and speaker Venkatesh Rao weighs in on the difference between "Sexy Jobs and Schlub Jobs," and what it means for the future of work. For a slightly different take, see The Death of the 'Prestige Economy'
posted by verb on Jul 13, 2013 - 56 comments

Suddenly, I was rage-reading millennial trend pieces every day.

In "Can We Stop Worrying About Millennials Yet?", editorial cartoonist Matt Bors highlights the absurdity of blaming millennials for inheriting a lousy economy.
posted by tonycpsu on Jul 9, 2013 - 170 comments

President Correa and Ecuador's Economy

Rafael Vicente Correa Delgado was first elected president of Ecuador in Nov. 2006 and most recently for his third presidential term in Feb. 2013. Ecuador is sometimes identified as joining the Latin American leftist "pink tide" movement by electing Correa, and Correa in turn joined the Bolivarian Alliance for the Americas (ALBA) economic bloc in 2009, which also includes the countries of Venezuela, Cuba and Bolivia, and which was explicitly conceived by Hugo Chavez as an alternative to US-lead economic partnerships in the region. [more inside]
posted by airing nerdy laundry on Jun 24, 2013 - 34 comments

Eat the meat you are Fed: It's good, we guarantee it!

The last mystery of the financial crisis. It's long been suspected that ratings agencies like Moody's and Standard & Poor's helped trigger the meltdown. A new trove of embarrassing documents shows how they did it. by Matt Taibbi in Rolling Stone.
posted by lalochezia on Jun 19, 2013 - 34 comments

7 year bookends

25 Things I'm Learning From Closing a Bookstore. (previously)
posted by telstar on Jun 16, 2013 - 138 comments

A threadbare set of ideas

The Austerity Delusion: Why a Bad Idea Won Over the West. "Austerity is a seductive idea because of the simplicity of its core claim -- that you can’t cure debt with more debt. This is true as far as it goes, but it does not go far enough. Three less obvious factors undermine the simple argument that countries in the red need to stop spending. The first factor is distributional, since the effects of austerity are felt differently across different levels of society. The second factor is compositional; everybody cannot cut their way to growth at the same time. The third factor is logical; the notion that slashing government spending boosts investor confidence does not stand up to scrutiny."
posted by spamandkimchi on May 1, 2013 - 153 comments

A funny thing happened on the way to the funeral

The novel resurgence of independent bookstores. {Single page version} [more inside]
posted by Potomac Avenue on Apr 29, 2013 - 31 comments

Taibbi held a gun to my head, er, I mean...

Everything Is Rigged: The Biggest Price-Fixing Scandal Ever The Illuminati were amateurs. The second huge financial scandal of the year reveals the real international conspiracy: There's no price the big banks can't fix
posted by infini on Apr 26, 2013 - 127 comments

The alchemists of Wall Street are at it again.

Wall Street begins playing again with the same matches that burned the economy in 2008 From the New York Times: "The banks that created risky amalgams of mortgages and loans during the boom — the kind that went so wrong during the bust — are busily reviving the same types of investments that many thought were gone for good. Once more, arcane-sounding financial products like collateralized debt obligations are being minted on Wall Street. " (View article on a single page) [more inside]
posted by Sleeper on Apr 20, 2013 - 57 comments

Austerity Bites, especially if you can't Math

"[a]ll I can hope is that future historians note that one of the core empirical points providing the intellectual foundation for the global move to austerity in the early 2010s was based on someone accidentally not updating a row formula in Excel." [more inside]
posted by T.D. Strange on Apr 16, 2013 - 165 comments

The Day Care Dilemma

"Trusting your child with someone else is one of the hardest things that a parent has to do — and in the United States, it’s harder still, because American day care is a mess. About 8.2 million kids—about 40 percent of children under five — spend at least part of their week in the care of somebody other than a parent. Most of them are in centers, although a sizable minority attend home day cares.... In other countries, such services are subsidized and well-regulated. In the United States, despite the fact that work and family life has changed profoundly in recent decades, we lack anything resembling an actual child care system. Excellent day cares are available, of course, if you have the money to pay for them and the luck to secure a spot. But the overall quality is wildly uneven and barely monitored, and at the lower end, it’s Dickensian."
posted by zarq on Apr 15, 2013 - 139 comments

Material Poverty & Privilege in India

What would a poverty map of India look like?
posted by Gyan on Apr 14, 2013 - 10 comments

Your Lifestyle Has Already Been Designed

There is a curious feeling of power you get when you drop a couple of twenties without a trace of critical thinking. "Here in the West, a lifestyle of unnecessary spending has been deliberately cultivated and nurtured in the public by big business." [more inside]
posted by paleyellowwithorange on Apr 14, 2013 - 57 comments

"like most of the working class, I’ve developed a locust morality."

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

"I couldn't afford for Carpentersville to become Detroit"

Tom Roeser was unhappy about the decline of his town, Carpentersville, IL. So he decided to do something about it. Roeser bought some foreclosed properties, renovated them, and then rented them out for below market value.
posted by reenum on Apr 2, 2013 - 56 comments

Workers of the world... Relax!

"Because work is unnecessary except to those whose power it secures, workers are shifted from relatively useful to relatively useless occupations as a measure to assure public order." -- The Abolition Of Work by Bob Black [more inside]
posted by jeffburdges on Jan 29, 2013 - 92 comments

Evaluating the impact of international aid, scientifically

International aid projects come under the microscope Clinical-research techniques deployed to assess effectiveness of aid initiatives.
posted by infini on Jan 24, 2013 - 3 comments

There's a lot of bullshit coming from America

"Of the top 100 Swiss companies, 49 give shareholders a consulting vote on the pay of executives. A few other countries, including the United States and Germany, have introduced advisory "say on pay" votes in response to the anger over inequality and corporate excess that drove the Occupy Wall Street movement. Britain is also planning to implement rules in late 2013 that will give shareholders a binding vote on pay and "exit payments" at least every three years. Minder's initiative goes further, forcing all listed companies to have binding votes on compensation for company managers and directors, and ban golden handshakes and parachutes. It would also ban bonus payments to managers if their companies are taken over, and impose severe penalties — including possible jail sentences and fines — for breaches of these new rules."
posted by vidur on Jan 21, 2013 - 32 comments

The Origins of Neoliberalism

Philip Pilkington writes for naked capitalism: The Origins of Neoliberalism Part I: Hayek's Delusion
Hayek’s entire ideology and career had begun to come apart in the 1930s. His theories were shown to be inconsistent in the academic journals of the time and the practical implications of those theories had shown themselves to be both discredited and dangerous. A man in such a position only has two choices: he can either completely re-evaluate his ideas which, if they were held with unshakeable conviction and constituted a core component of his emotional make-up, as seems to have been the case with Hayek, would have likely resulted in a mental collapse; or, alternatively, he can engage in a massive repression, shut out reality and construct around himself a fantasy world.
[more inside]
posted by the man of twists and turns on Jan 18, 2013 - 136 comments

Secret and Lies of the Bailout

Secret and Lies of the Bailout. "The federal rescue of Wall Street didn’t fix the economy – it created a permanent bailout state based on a Ponzi-like confidence scheme. And the worst may be yet to come." [Via]
posted by homunculus on Jan 7, 2013 - 77 comments

"Victory as recorded on those screens made them feel like Masters of the Universe."

Eunuchs of the Universe: Tom Wolfe on Wall Street Today: [Daily Beast]
"As America teeters on a cliff, Tom Wolfe draws up a sterling indictment of our unscrupulous financial culture. Twenty-five years after Bonfire of the Vanities, the author returns to Wall Street to see what happened to the Masters of the Universe."

posted by Fizz on Jan 4, 2013 - 35 comments

2013 real estate and economy predictions

Garth Turner, the former politician and now cranky (but funny and more or less accurate) blogger opines on real estate and the economy for 2013.
posted by anothermug on Dec 31, 2012 - 26 comments

Old Hansa

Networks of the Hanseatic League - The Hanseatic League was a late-medieval network of economically largely independent long-distance trade merchants which was based on trust, reputation and reciprocal relations. The informal cooperation among its members kept transactional, informational and organizational costs low, allowing the Hanse merchants to make good profits from the long-distance trade between the Baltic and the North Seas. Thanks to personal and institutional links with confederations of towns, the Hanse merchants were initially able to strengthen their international position of power. Since the late 15th century, however, the transaction costs of long-distance trade increased as a result of growing exclusivity and formalization efforts in the Hanseatic league. Moreover, changes in the European economic structure, triggered by the discovery of America, and internal conflicts ultimately led to the disintegration of the Hanseatic networks.
posted by infini on Dec 29, 2012 - 14 comments

Wonky graphs of 2012

2012: The year in graphs - as picked by the Washington Post Wonkblog's favorite economists, political scientist, politicians and other wonkys.
posted by Artw on Dec 28, 2012 - 17 comments

A tax time bomb, slowly ticking away

Income based repayment is touted as a solution to rapidly rising college costs in the US. But there is a hefty tax bill looming for people who take advantage of this program.
posted by reenum on Dec 18, 2012 - 134 comments

"how we learned to stop worrying and embrace the abstraction"

A Brief History Of Money [more inside]
posted by the man of twists and turns on Dec 16, 2012 - 53 comments

Where are the flying cars? I was promised flying cars. I don't see any flying cars!

Global Trends 2030 Alternate Worlds is the latest quadrennial report from The US National Intelligence Council (NIC). (Report: PDF / Talking Points: PDF.) Similar to its predecessors, '2030' attempts to predict 'alternate visions of the future.' An official blog discusses their speculations. The Atlantic Council has published a "companion publication": "Envisioning 2030: US Strategy for a Post-Western World." [more inside]
posted by zarq on Dec 11, 2012 - 21 comments

Fiscal-Cliff-Diving

There's been a lot of talk in the US media about the "Fiscal Cliff" and the "Grand Bargain" What are they?
The "fiscal cliff" is a confluence of three legal changes taking effect Jan. 1: the expiration of a payroll-tax cut, the expiration of the Bush-era tax cuts, and the advent of mandatory spending cuts known as "sequestration."
Fiscal Cliff 101: 5 Basic Questions Answered. What's Happening: Fiscal Cliff Explained [more inside]
posted by the man of twists and turns on Dec 1, 2012 - 214 comments

The New York Times - Complaints Aside, Most Face Lower Tax Burden Than in 1980

The New York Times examines how American taxes have changed since 1980
posted by East Manitoba Regional Junior Kabaddi Champion '94 on Nov 30, 2012 - 105 comments

"Don't call it a comeback/I've been here for years."

Jay Walljasper covers Detroit: Not Your Father's Motor City, The Surprise Behind Detroit's Emerging Comeback, Young People’s Fascination With Motor City is Only Part of Detroit Revitalization, A Food Commons Grows In Detroit. [more inside]
posted by the man of twists and turns on Nov 27, 2012 - 31 comments

Spoiler alert: Northern Europe does well

The 2012 Legatum Prosperity Index ranks the wealth and well-being of the world's countries according to eight sub-indexes. Interestingly, you may individually re-weight those eight sub-indexes, in order to create country rankings closer to your own values and priorities. Foreign Policy has more on the Prosperity Index's unique approach to the ultimately very silly art of numerically ranking nation-states.
posted by Sticherbeast on Nov 23, 2012 - 25 comments

NGO in a box

A polemic against NGOs and the destruction of local innovation However, one issue that has received relatively scant attention is the way in which the notion of civil society has been reduced to being synonymous with non-governmental organisations (NGOs). This is one area that can have malign and far-reaching negative impacts, which I’d like to explore here. And here's another view, this time from India.
posted by infini on Nov 17, 2012 - 22 comments

¿Sí Se Puede?

The November 6th elections saw a lot of historic decisions made in the United States -- the first black president re-elected, marijuana legalized for the first time in two states, gay marriage affirmed by the voters in four, and even the first openly gay senator. But perhaps the most underreported result yesterday came from outside the country altogether: in the commonwealth of Puerto Rico, a solid majority voted to reject the island's current status and join America as the long-fabled 51st state. How the bid might fare in Congress is an open question, but both President Obama and Republican leaders have vowed support for the statehood movement if it proves successful at the ballot box (while D.C. officials ponder a two-fer gambit to grease the wheels). Though it would be the poorest state, joining the Union might bring economic benefits to both sides [PDF]. And politically, some argue the island might prove to be a reliably red state, despite the Hispanic population, although arch-conservative governor and Romney ally Luis Fortuño appears headed toward a narrow loss. But the most important question here, as always, is: how to redesign the flag? (Puerto Rican statehood discussed previously.)
posted by Rhaomi on Nov 7, 2012 - 108 comments

How My Danish Friend Paid Off His Debt By Becoming A Gay Prostitute

How My Danish Friend Paid Off His Debt By Becoming A Gay Prostitute
posted by reenum on Oct 31, 2012 - 51 comments

Who writes this crap?

The 4th Estate corrects its numbers - "That journalism struggles with racial diversity is old news, but a study released on Thursday by The 4th Estate tried to quantify the magnitude of the problem. The organization released an infographic showing that, among the 38 most influential newspapers in the country, 93 percent of front-page articles about the 2012 election were written by white reporters. The infographic received a host of coverage." [more inside]
posted by marienbad on Oct 29, 2012 - 44 comments

Abracadabra, No More Banking Crisis

IMF Economists are suggesting that The Chicago Plan, first proposed in 1936 as a way to avoid another Great Depression, is the answer to our current economic woes. [more inside]
posted by COD on Oct 22, 2012 - 57 comments

"...how great it could still be.”

"Is she O.K.?" a customer asks.
"My mom?" asks Kristy, the waitress.
"Yes," the customer replies.
"No."


Since Sunday, the front page of the New York Times has been featuring a portrait in five parts of Elyria, Ohio (pop: 55,000), seen mostly through the lens of a local diner. (Second link is to a full multimedia feature, but direct links to the five individual articles can be found within.) [more inside]
posted by zarq on Oct 18, 2012 - 42 comments

Rubber Rooms Are Still Open, Just Different

Thought the "rubber rooms" where New York City teachers were sent to wait for disciplinary hearings were closed? Not so much. [more inside]
posted by reenum on Oct 16, 2012 - 32 comments

Why Obama Now

Why Obama Now - from Simpsons/Family Guy animator Lucas Gray [more inside]
posted by East Manitoba Regional Junior Kabaddi Champion '94 on Oct 11, 2012 - 61 comments

"If we're going to get 21st century economic policy right... we have to start moving to a model that measures value creation rather than value capture."

The Clothesline Paradox: A Conversation with Tim O'Reilly - "The thesis is simple: You put your clothes in the dryer, and the energy you use gets measured and counted. You hang your clothes on the clothesline, and it "disappears" from the economy. It struck me that there are a lot of things that we're dealing with on the Internet that are subject to the Clothesline Paradox. Value is created, but it's not measured and counted. It's captured somewhere else in the economy." (a full text transcript of a video interview) [more inside]
posted by flex on Oct 9, 2012 - 77 comments

"No one wants to hear about how tough it is."

This summer, Gawker began soliciting and publishing a weekly series of first person essays submitted by their readers: "True Stories." They include ten stories (to date) from struggling, unemployed Americans: Hello from the Underclass. (Those who dislike Gawker's interface can find direct links to individual essays within.) [more inside]
posted by zarq on Oct 7, 2012 - 20 comments

HE'S A SOCIALIST!

A society where the lucky few reap prodigious financial rewards is one where many will fall short of their dreams through no fault of their own. We must insure all people against disability, against sickness, against hunger, and against homelessness. I realize that these things cost money. I believe that the costs of building and maintaining a great country should be shared by all of us, beginning with the people who benefit the most from our society. I believe that people like me (and people who are far wealthier) should pay more in taxes.

So-called "job creator" acknowledges that he lives in a society and owes a debt to it, as a response to (seemingly in agreement with) a satirical Job Creator Manifesto published in the Washington Post. [more inside]
posted by univac on Oct 6, 2012 - 40 comments

Dodging Corporates Taxes? There Is An App For That.

How Apple uses a Nevada based investment fund to (legally) avoid paying corporate tax on some of its massive profit.
posted by COD on Oct 2, 2012 - 135 comments

Mes Aynak

Golden Buddha, Hidden Copper. "Twelve years after the Taliban blew up the world-famous Bamiyan Buddhas, a Chinese mining firm -- developing one of the world's largest copper deposits -- threatens to destroy another of Afghanistan's archeological treasures." Campaign to Save Mes Aynak.
posted by homunculus on Sep 22, 2012 - 14 comments

Brother, can you spare a dime?

The National Bureau of Economic Research has published a new paper analyzing 138 years of economic history in 14 advanced economies, which proves that high levels of private debt cause severe recessions. (Via) Bonus SLYT: Money As Debt (1hr)
posted by infini on Sep 10, 2012 - 32 comments

The Juris Doctor is 'Versatile' Thanks Mainly to Numerous Logical Fallacies

Many people say that a law degree enables the holder to do virtually anything. Am Law Daily explores the logical fallacies behind this statement.
posted by reenum on Aug 16, 2012 - 55 comments

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