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]
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]
Inside the Nightmare Launch of HealthCare.Gov
- "Unknown to a nation following the fiasco, McDonough's assignment from the President had boiled down to something more dire than how to fix the site. As the chief of staff remembers his mission, it was 'Can it be patched and improved to work, or does it need to be scrapped to start over? He wanted to know if this thing is salvageable.' Yes, on Oct. 17, the President was thinking of scrapping the whole thing and starting over." (previously
) [more inside]
From the mid 40s to the mid 50s Coronet Instructional Films
were always ready to provide social guidance for teenagers on subjects as diverse as dating
, preparing for being drafted
, and shyness
, as well as to children on following the law
, the value of quietness in school
, and appreciating our parents
. They also provided education on topics such as the connection between attitudes and health
, what kind of people live in America
, how to keep a job
, supervising women workers
, the nature of capitalism
, and the plantation System in Southern life
. Inside is an annotated collection of all 86 of the complete Coronet films in the Prelinger Archives
as well as a few more. Its not like you had work to do or anything right? [more inside]
"I can say with confidence that rich people don't create jobs, nor do businesses, large or small," said über-rich venture capitalist Nick Hanauer in a March 1st TEDx talk, which TED is refusing to put on its website. [more inside]
Robert Reich talks
at Google about the biggest problem facing the US economy. [SLYT, 57min]
The World Top Incomes Database
(click on "Graphics" and select countries, years and other variables) (via
9 Things The Rich Don't Want You To Know About Taxes
- "4. Many of the very richest pay no current income taxes at all: Paulson made himself $9 billion in fees in just two years. His current tax bill on that $9 billion? Zero... 9. Other countries do it better: no one in Germany or the rest of the modern world goes broke because of accident or illness" (via
) [more inside]
How much money do you make with that webcomic internet thing? Dorthy Gambrell of Cat And Girl Answers.
"We infer that beyond about $75,000/y, there is no improvement whatever in any of the three measures of emotional well-being."
Two social scientists at Princeton, Angus Deaton
and Nobelist Daniel Kahneman
, have a new paper in PNAS about money and the determinants of happiness. Increased income above $75,000 is not associated with higher subjective happiness, though it is associated with superior scores on measures of overall life satisfaction. Other tidbits: "Religion has a substantial influence on improving positive affect and reducing reports of stress, but no effect on reducing sadness or worry... The presence of children at home is associated with significant increases in stress, sadness, and worry."
“Being willing to sit in a boring classroom for 12 years, and then sign up for four more years and then sign up for three or more years after that—well, that’s a pretty good measure of your willingness to essentially do what you’re told,” - The Santa Fe Reporter talks to Economist Samuel Bowles about New Mexico's income gap, welfare, social mobility, and a radical way to help. (Via)
A new U.S. Treasury Report
) reports that tax returns from 1996 to 2005 show that income mobility in the U.S. is "considerable," with rising earnings, and top earners who often stumble. The WSJ crows
. Pew releases its own research (reports
, press release
) on income inequality today with a multi-decade outlook, but summarizes the findings as that American families' income mobility is still highly dependent on their parents' position. Forbes
and a The New Republic blog
try to reconcile the reports. Meanwhile, blacks appear to be downwardly mobile
other half top quintile lives...
Coldwell Banker has released the first Coldwell Banker(R) Luxury Index
, a "study conducted in August 2004 of U.S. luxury homeowners -- those owning homes valued at $1 million or more -- concerning their attitudes, preferences and purchasing behavior related to luxury goods and services." You might be interested to discover that 61% of those surveyed stated recent increases in interest rates would have no impact on their luxury item purchases.
US income distribution moves towards 3rd world profile?
- US Census Bureau
data on growing family income inequality, 1947 to 2001. Also see: The
(for a graphic depiction of current US wealth distribution).
"The most egalitarian countries have a Gini index in the 20s. European
countries like Germany, Austria, Belgium, Hungary, Poland, Norway, and Sweden all fall in that
range, according to World Bank figures. Canada and Australia are just over 30. The United States
is around 40...Once inequality reaches 50 percent, disparities become glaringly obvious, to the
point where they undermine a society's sense of unity and common purpose....Sierra Leone takes
the prize. At 63 percent, it offers the world's most extreme example of inequality."
By multiple measures, income
in the US is rapidly increasing, and a substantial percentage of middle class Americans may be gradually sliding into poverty.