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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

National Greatness

Francis Fukuyama on 'The End of History?' twenty-five years later: "liberal democracy still doesn't have any real competitors," but to get there... [more inside]
posted by kliuless on Jun 15, 2014 - 29 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

Affluence and Influence

Gilens and Page analyze 1,779 policy outcomes over a period of more than 20 years. They conclude that “economic elites and organized groups representing business interests have substantial independent impacts on U.S. government policy, while mass-based interest groups and average citizens have little or no independent influence.” Average citizens have “little or no independent influence” on the policy-making process? This must be an overstatement of Gilens’s and Page’s findings, no? Alas, no... (pdf)
posted by anazgnos on Apr 12, 2014 - 34 comments

Meanwhile, across the Black Sea and in the mountains of Pennsylvania

Turkey: The Erdogan-Gulen showdown - "A political fight to the death had just broken out between Recep Tayyip Erdogan, Turkey's prime minister, and his former allies in the movement of Mr Gulen... The prime minister argues that the Gulenists have set up a 'parallel state' within the bureaucracy, following orders from Pennsylvania and pursuing an agenda of their own." [more inside]
posted by kliuless on Mar 22, 2014 - 30 comments

Aggregate Demand Management: "pass a law allowing the Fed to cut checks"

Free Money for Everyone - "A wacky-sounding idea with surprisingly conservative roots may be our best hope for escaping endless, grinding economic stagnation." (via) [more inside]
posted by kliuless on Mar 16, 2014 - 19 comments

Grundeinkommen - ein Kulturimpuls

Switzerland to vote on $2,800 monthly 'basic income' for adults (reddit, mr; previously-er) [more inside]
posted by kliuless on Oct 6, 2013 - 64 comments

The Perils of Presidentialism, in Action

Political theorist Juan Linz died Tuesday at the age of 86. His work focused on comparative government, including studies on totalitarian and authoritarian regimes. Linz was also a prominent critic of the presidential system of government used in the United States and in much of Latin America. In his essay, "The Perils of Presidentialism" (later expanded into book form as The Failure of Presidential Democracy), Linz argued that presidential systems are inherently unstable, as they invariably lead to standoffs between the president and the legislature, each with competing claims to legitimacy. Thus, as in many Latin American countries, presidential systems frequently collapse, and often are replaced with dictatorships. The one exception to that pattern has been the United States--at least until recently. In an interview in January of this year, Linz argued that the US was succumbing to the same dysfunction as other presidential regimes. In Slate, Matthew Yglesias commemorates Linz by warning that the American system of government may be doomed to an endless cycle of crisis and constitutional disintegration, as evidenced by the government shutdown. Dylan Matthews concurs, arguing that the shutdown is "James Madison's fault."
posted by Cash4Lead on Oct 2, 2013 - 72 comments

TP-AJAX

In 2011, the CIA declassified documents admitting its involvement in the 1953 coup that overthrew Iran's elected government and installed Mohammad Reza Shah Pahlavi, details of which were first first disclosed by the New York Times in 2000. Timeline. However, they refused to release them to the public. Today, the National Security Archive research institute has (after a Freedom of Information Act lawsuit) obtained and made the 21 documents public. "Marking the sixtieth anniversary of the overthrow of Iranian Prime Minister Mohammad Mosaddeq, the National Security Archive is today posting recently declassified CIA documents on the United States' role in the controversial operation. American and British involvement in Mosaddeq's ouster has long been public knowledge, but today's posting includes what is believed to be the CIA's first formal acknowledgement that the agency helped to plan and execute the coup. [more inside]
posted by zarq on Aug 19, 2013 - 33 comments

The Priority of Democracy

Dissent Is the Health of the Democratic State - "We live in big, complex societies, which means we are thoroughly interdependent on each other, and that we will naturally have different ideas about how our life in common should go, and will have divergent interests. This means that politics we shall always have with us. It also means that political problems are largely ones about designing and reforming the institutions which shape how we interact with each other..." (via) [more inside]
posted by kliuless on Mar 6, 2013 - 9 comments

"Used to be that the idea was 'once every two years voters elected their representatives.' And now instead it's 'every ten years the representatives choose their constituents.'"

Obama won Ohio by two points, and Democratic Sen. Sherrod Brown won by five, but Democrats emerged with just four of Ohio’s 16 House seats. In Wisconsin, Obama prevailed by seven points, and Democratic Senate candidate Tammy Baldwin by five, but their party finished with just three of the state’s eight House seats. In Virginia, Obama and Democratic U.S. Senate candidate Tim Kaine were clear victors, but Democrats won just three of the commonwealth’s 11 House seats. In Florida, Obama eked out a victory and Democratic Sen. Bill Nelson won by 13 points, but Democrats will hold only 10 of the Sunshine State’s 27 House seats. The Revenge of 2010: How gerrymandering saved the congressional Republican majority, undermined Obama's mandate, set the terms of the sequestration fight, and locked Democrats out of the House for the next decade. It's not a new problem. But if the Supreme Court guts the Voting Rights Act, it could get a whole lot worse. And the electoral college may be next. (What's gerrymandering, you ask? Let the animals explain. Meet the Gerry-mander. Peruse the abused. Catch the movie. Or just play the game. Previously.)
posted by Rhaomi on Nov 14, 2012 - 137 comments

epistolary novel

Clay Shirky: How the Internet will (one day) transform government [1,2,3] [more inside]
posted by kliuless on Sep 26, 2012 - 46 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

“A Republic, if You Can Keep It”

"[T]he corrupting influence of money is the first problem facing this nation. That unless we solve this problem, we won’t solve anything else... The Framers, Lessig says, had just one kind of dependence in mind for members of Congress: a dependence on the people. He quotes The Federalist (the then-anonymous essays by Alexander Hamilton, James Madison, and John Jay that are often used as a contemporary account of the Framers’ intentions) to make this point: number 52 describes the House of Representatives as that “branch of the federal government which ought to be dependent on the people alone” (emphasis added). But in the last two decades, Lessig writes, members of Congress have developed a fearsome dependency: campaign cash. The total amount spent on campaigns by all candidates for Congress in 2010 was $1.8 billion. Fundraising has become a way of life..." (via 3 Quarks Daily)
posted by caddis on Aug 1, 2012 - 48 comments

Agora, a virtual parliament

PDI is a policy-agnostic political party that does not have, nor will ever have, a political ideology. It has a single and radical proposal: PDI elected representatives will vote in congress according to what the people have previously voted through the internet using Agora.
posted by mhjb on Apr 14, 2012 - 89 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

A prehistoric monster which has mysteriously survived into the modern world

The City of London Corporation has been in the news lately related to Occupy London. But the deeper story of how this medieval remnant functions in 21st century England is far stranger... and more sinister.
posted by Joakim Ziegler on Nov 2, 2011 - 51 comments

Who watches the technocrats?

Peter Orszag (previously of Obama's OMB) argues that circumventing democracy is the best way to save it, but Catherine Rampell isn't sold, and Uwe Reinhardt points out that technocrats base "science" on moral values.
posted by klangklangston on Sep 28, 2011 - 91 comments

entrepreneurial paradise

In Norway, Start-ups Say Ja to Socialism - We venture to the very heart of the hell that is Scandinavian socialism—and find out that it's not so bad. Pricey, yes, but a good place to start and run a company. What exactly does that suggest about the link between taxes and entrepreneurship?
posted by kliuless on Jan 20, 2011 - 52 comments

Public Policy, Political Organization, and the Precipitous Rise of Top Incomes in the United States

Winner-Take-All Politics [1,2] (PDF) - "The sources of American economic inequality are largely political – the result of deliberate political decisions to shape markets in ways that benefit the already-privileged at the expense of a more-or-less unaware public." (via bd) [more inside]
posted by kliuless on Oct 21, 2010 - 47 comments

Tea Party and Me

Former president Jimmy Carter speaks about the similarities and differences between the political climate in the mid 1970's and the present rise of the Tea Party.
posted by reenum on Oct 1, 2010 - 20 comments

Four Economic Benchmarks We Need Now

With capitalism in crisis, can it be sustained or is it altogether outdated? As Umair Haque asks though, perhaps a better question is: "are organizations and markets making decisions that help make people, communities, and society better off in the long run, by allocating their scarce resources to the most productive uses?" [more inside]
posted by kliuless on Jul 13, 2010 - 15 comments

a very long article

How America Can Rise Again by James Fallows
Is America going to hell? After a year of economic calamity that many fear has sent us into irreversible decline, the author finds reassurance in the peculiarly American cycle of crisis and renewal, and in the continuing strength of the forces that have made the country great: our university system, our receptiveness to immigration, our culture of innovation. In most significant ways, the U.S. remains the envy of the world. But here's the alarming problem: our governing system is old and broken and dysfunctional. Fixing it—without resorting to a constitutional convention or a coup—is the key to securing the nation's future. (via|previously)
posted by kliuless on Jan 6, 2010 - 61 comments

George Soros on the Way Forward

Soros lectures
You can slog through the video, but I preferred the transcripts 1 | 2 | 3 | 4 | 5 [more inside]
posted by kliuless on Nov 21, 2009 - 13 comments

Mr. Lee's Greater Hong Kong

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

Science and the "Obama Restoration"

The Essential Parallel Between Science and Democracy. "[T]he restorative steps Obama has taken vis-à-vis science are praiseworthy not so much because they respect science as because they respect the grand institutions of democracy. This is no accident, because the very virtues that make democracy work are also those that make science work: a commitment to reason and transparency, an openness to critical scrutiny, a skepticism toward claims that too neatly support reigning values, a willingness to listen to countervailing opinions, a readiness to admit uncertainty and ignorance, and a respect for evidence gathered according to the sanctioned best practices of the moment."
posted by sarabeth on Feb 18, 2009 - 28 comments

Disaster Capitalism

"Like the dotcom bubble, the disaster bubble is inflating in an ad-hoc and chaotic fashion." Journalist Naomi Klein discusses how corporations and governments are working together more closely than ever, using the mandate of catastrophe — whether natural or man-made — to further concentrate power in fewer hands, with less oversight: from illegal sales of American police technology to China to avert hypothetical tragedies during the Beijing Olympics, to the privatization of water supplies in post-tsunami Sri Lanka.
posted by Blazecock Pileon on Aug 17, 2008 - 50 comments

Congress 2.0

Opencongress.org is a website for keeping track of the U.S. Congress. (previously) But, now it also a social network. So, sign-up and see what your favourite Senator has been doing, track bills and, follow important issues. Then, share that information with your friends or write about it on your blog.
posted by geos on Feb 4, 2008 - 20 comments

limits

The dangers of living in a zero-sum world economy - naked capitalism reprints (with added commentary) an FT article by Martin Wolf on why it's vital for (civilised) society to sustain a 'positive-sum' world, otherwise: "A zero-sum economy leads, inevitably, to repression at home and plunder abroad." Wolf's solution? "The condition for success is successful investment in human ingenuity." Of course! Some are calling for more socialism, while others would press on to build more megaprojects. For me, at least part of the solution lies in environmental accounting and natural capitalism :P
posted by kliuless on Dec 19, 2007 - 42 comments

The Common Good

Government is good. An unapologetic defense of a vital institution. [more inside]
posted by edverb on Oct 9, 2007 - 25 comments

another sham

Thought June 30th was a real handover of power to the Iraqis? In a series of edicts issued earlier this spring, Mr. Bremer's Coalition Provisional Authority created new commissions that effectively take away virtually all of the powers once held by several ministries. ... The new Iraqi government will have little control over its armed forces, lack the ability to make or change laws and be unable to make major decisions within specific ministries without tacit U.S. approval, say U.S. officials and others familiar with the plan.
posted by amberglow on May 26, 2004 - 19 comments

Dictatorship.com

The web won't topple tyranny. "The myth that the Internet will utterly transform capitalism has died. The myth that the Web will destroy tyranny should perish as well." [Via /.]
posted by homunculus on Mar 28, 2004 - 18 comments

Civil Disobedience-Thoreau

Civil Disobedience-Henry David Thoreau Nothing in here about blocking traffic but a very important historical document for our time. "The government itself, which is only the mode which the people have chosen to execute their will, is equally liable to be abused and perverted before the people can act through it. Witness the present Mexican war, the work of comparatively a few individuals using the standing government as their tool; for in the outset, the people would not have consented to this measure.".................. ............ "A democracy, is a progress toward a true respect for the individual. Even the Chinese philosopher was wise enough to regard the individual as the basis of the empire. Is a democracy, such as we know it, the last improvement possible in government? Is it not possible to take a step further towards recognizing and organizing the rights of man? There will never be a really free and enlightened State until the State comes to recognize the individual as a higher and independent power, from which all its own power and authority are derived, and treats him accordingly. "
posted by thedailygrowl on Mar 21, 2003 - 10 comments

Let the people decide.

Let the people decide. There's lot's of initiatives trying to push Direct Democracy, like Philadelphia II, as a solution to all of the problems inherent in the political process. A few places like Switzerland, ancient Athens, and some New England towns already have it that way. A lot of them want electronic and phone voting to pave the way. Is it possible, or was Machiavelli right to believe that politics is best left to the politicians. That's what the electoral college is for.
posted by destro on Nov 10, 2002 - 39 comments

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