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We Deserve Better Dressed Billionaires

"You're a rich white man. You're used to being listened to. But while you're jabbering away, all anyone can see is your garbage shirt that you bought for twenty bucks and have been wearing all year, shoved nastily into your shiny off-the-rack suit. Why would you do this to your brand?" - Shirterate, a clothing consultation service for tech moguls by opinionated homosexuals.
posted by The Whelk on Jul 10, 2014 - 75 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

What The Poor Deserve

"When our donors met the actual people they were helping they often didn’t like them. During our Secret Santa drive, volunteers sometimes refused to drop gifts at houses with TVs inside. They got angry when clients had cell phones or in some other way didn’t match their expectations. Other times, the donations we got were too disgusting to pass along—soup cans that bulged with botulism and diapers so dry rotted they crumbled in our hands. One Thanksgiving, a board member called from the parking lot, requesting help carrying a frozen turkey from her trunk to our office. “Can you find a deserving family?” she asked. I lugged the bird up three flights of stairs. Somewhere near the top, I noticed the expiration date. It was seventeen years old." Anya Groner talks about working for Hudson Outreach in up-state New York and the sobering, chilling effect it had on her idealism.
posted by The Whelk on Jul 7, 2014 - 95 comments

an overconfident autodidact’s imitation of a Lewis Lapham essay

“Moldbug.” The name sounds like it belongs to a troll who belches from the depths of an Internet rabbit hole. And so it does. (SLTheBaffler) [more inside]
posted by Rustic Etruscan on Jul 1, 2014 - 67 comments

Some are red. Some are blue. All are green.

Greenhouse is a browser app for Firefox, Chrome, and Safari that allows you to mouse over any Congressperson's name in your browser to reveal where their campaign money comes from. [more inside]
posted by sockermom on Jun 24, 2014 - 23 comments

Financial Friend-Fiction?

How much do Belchers of "Bob's Burgers" actually pay in rent?
posted by The Whelk on Jun 23, 2014 - 67 comments

...for everyone who contributed too much to MeFi and ran out of money

Poorcraft is on the Web. The acclaimed comic book guide to "living well on less", written by C. Spike "Templar, Arizona" Trotman* and drawn by Diana "Intrepid Girlbot" Nook, after two years in print, is getting a second life as a free webcomic**, publishing a page a day for the next five months. So don't declare insolvency until you've gotten all the moneysaving tips! Recommended by notable MeFites. [more inside]
posted by oneswellfoop on May 27, 2014 - 28 comments

WHY CAN'T BANDS WITH UNLIMITED RESOURCES MAKE GOOD ALBUMS?

When the band announced they’d be getting back together in 2000 after a three-year hiatus, people were understandably excited. Here was a band with a cannon of music that included everything from “Say It Ain’t So” to “El Scorcho” getting ready to unleash a new set of works on the world, the way we all wished J.D. Salinger would. Then “The Green Album” came out and although it featured Mikey Welsh instead of Matt Sharp, everything from the artwork to the use of producer Ric Ocasek seemed to indicate a return to form for the celebrated geek rock act. Except it wasn’t. I’d like to think that even the most strident Weezer supporters would admit that a song like “Hash Pipe” would never have fit on the first two albums, not because Cuomo had vastly evolved as a songwriter, but because it completely lacked the spark and character that typified the band’s earlier works. In fact, Weezer reportedly wrote 75 songs for this album yet this was the best collection they could come up with.
posted by josher71 on May 22, 2014 - 73 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

The Last Shot, 20 Years On

Amos Barshad of Grantland talks to Darcy Frey and the basketball players featured in the classic book The Last Shot 20 years after the book's release.
posted by reenum on May 15, 2014 - 1 comment

“Myer, invest the money with your friend Warren.”

Rabbi Myer Kripke, of Omaha, dies at 100. The New York Times obituary tells the story of the Kripkes and a couple they played bridge with and became friends with, Susan and Warren Buffett. In 1966, they approached Buffett to manage their savings, and they wound up making $25 million, all of which they gave away. The Times piece also devotes a half a sentence to Rabbi Kripke's son, "Saul Kripke, a Princeton scholar who has been called the world’s greatest living philosopher" (cynics should note that Saul Kripke shot to prominence before his parents were rich).
posted by grobstein on May 5, 2014 - 19 comments

Mayday, Mayday, democracy in danger . . .

The Mayday SuperPAC. Yesterday Lawrence Lessig announced the launch of the Mayday SuperPAC, "The SuperPAC to end all SuperPACs." Its ultimate goal is to achieve constitutional campaign finance reform. They've set out specific funding goals--$1 million in 30 days, $5 million in the next 30--which will be matched by Lessig and other (currently) anonymous funders once achieved. Their initial goal is to influence races in five House districts and if successful they hope to expand in 2016.
posted by schroedinger on May 2, 2014 - 94 comments

“So… do you… do you suppose we should… talk about money?”

Introducing Sociology: Tim Kreider's influential 1999 essay (previously) on how Stanley Kubrick's Eyes Wide Shut uses sex and infidelity to cover up a story of greed and murder by the elite gets a brand new afterward by the author to introduce a new site for his non-fiction writing, TimKreider.com
posted by The Whelk on Apr 23, 2014 - 51 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

For Richer Or Poorer

Ask Polly: Will Our Class Differences Tear Us Apart?
I've been with my current boyfriend for three years. We're really great together—similar interests, senses of humor, great sex. I love him so much—the only issue is that of our respective backgrounds. He grew up in a tony suburb, went to prep school, then to a very prestigious college, and finally the very prestigious graduate school where we met. I went to public school in a bad neighborhood, put myself through a not-so-prestigious college, made a name for myself in my field, then got into that same prestigious grad school. Our families could not be more different. I didn't think it would matter so much, but something happened recently that I can't shake.
[more inside]
posted by the man of twists and turns on Apr 12, 2014 - 86 comments

The Canadian Beaver & Our Furry Heritage

Out in the field with one of Alberta's few female trappers. Emily the Trapper is smart, loves animals, and thinks your ideas about fur trapping are all wrong. [more inside]
posted by arcticseal on Mar 21, 2014 - 14 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

The business of internet cat videos

“It isn’t just the crazy cat ladies, although they’re there in droves. It’s the six year-olds chanting the name of their favourite cats. It’s the hipsters there smoking cigarettes, hip-hop dudes, country dudes… It is the kind of thing where you have to learn to make everybody happy,”
posted by jason's_planet on Mar 9, 2014 - 6 comments

London Calling

Britain will betray the United States and Ukraine to keep laundering dirty Russian money. "The city has changed. The buses are still dirty, the people are still passive-aggressive, but something about London has changed. You can see signs of it everywhere. The townhouses in the capital’s poshest districts are empty; they have been sold to Russian oligarchs and Qatari princes."
posted by four panels on Mar 8, 2014 - 67 comments

Money and finance: For an anthropology of globalization

There is much talk today of a financial and economic crisis comparable to the 1930s. With the threat of a currency war and the euro’s collapse looming, the specter of the Great Depression’s bloody aftermath has returned with a vengeance. Several versions of how to make human beings and build society co-existed during the Cold War, when much of the world won independence from colonial empire. Yet, discussion of humanity’s growing interdependence is today limited to a one-world capitalism driven by finance. What have anthropologists to say about that? It would seem very little. But a positive case can be made for the discipline’s contribution to public debate. We make such a case here. We review recent developments in the anthropology of money and finance, listing its achievements, shortcomings and prospects, while referring back to the discipline’s founders a century ago. Economic anthropologists have tended to restrict themselves to niche fields and marginal debates since the 1960s. We hope to reverse this trend by focusing on money’s role in shaping global society and bringing world history into a more active dialogue with ethnography.
Money and finance: For an anthropology of globalization by Keith Hart and Horacio Ortiz
posted by infini on Feb 12, 2014 - 17 comments

Con Men! Artistocrats! Nancy Boys! Radiothearpy and More!

The Trickster Prince is academic and historian Matt Houlbrook's blog about the ephemera and little-known stories of the English inter-war period (and before) with a focus on class-jumping, queer narratives, "faking it", and urban society in the 20s and 30s.
posted by The Whelk on Feb 5, 2014 - 13 comments

A government of the many, not a government of money

The “Government by the People Act”, proposed by N. Pelosi and J. Sarbanes in a WP op-ed, is presented as one of the first concrete steps towards the removal of the influence of quasi-unlimited money in US politics. The act doesn’t limit the amount of money that corporations, PACs, etc can pay but rather takes the opposite approach, by encouraging and subsidizing citizen participation. The influence of money on American politics has exploded since the Citizens United ruling… resulting in often disturbing bias. [more inside]
posted by Riton on Feb 5, 2014 - 52 comments

Coin Rules Everything Around Me

In 2014, Bitcoin (BTC) has become established as increasingly "real" money with government regulatory interest, law enforcement, and growing acceptance in commerce, but also as the reserve cryptocurrency for hundreds of "altcoins," making them also convertible to legacy money. Foremost among these is Litecoin (LTC), which introduced the scrypt hashing algorithm to cryptocurrency, democratizing coin mining by being best suited to common GPUs rather than Bitcoin's dedicated mining equipment. Recently donated LTC paid for a forest in Madagascar. Peercoin (PPC), next in prominence, introduces "proof of stake" where less energy is spent mining and existing coins pay interest. Dogecoin (DOGE), a fork of Litecoin (previously covered on Metafilter), continues heading to the moon, with more transactions than all other coins combined, thriving markets in digital goods, tipbots, an upcoming party in NYC's Bitcoin Center on Wall Street, much charity, and the recent announcement that new Dogecoins will be generated indefinitely. A selection of other foremost and interesting cryptocurrencies is within. [more inside]
posted by save alive nothing that breatheth on Feb 5, 2014 - 319 comments

Full Of Juveniles Not Using Seat Belts

What does the police blotter look like in one of the most expensive zip-codes in the US?
posted by The Whelk on Jan 22, 2014 - 65 comments

A History of Pain

As part of a settlement between the Archdiocese of Chicago and the victims of 30 pedophile priests, a cache of 6000 documents has been made public, detailing the Catholic Church's efforts over many years to cover up sexual abuse and protect accused priests.
posted by reenum on Jan 22, 2014 - 56 comments

Civic Crowdfunding

Rodrigo Davis of the MIT Center for Civic Media is currently researching crowdfunding for civic and community purposes. Some of the issues he covers includes the ethics of crowdfunding (including Kickstarter's seduction guide debacle and Gawker's attempt to crowdfund a video showing Toronto Mayor Rob Ford smoking crack), a case study of Kansas City's crowdfunding campaign for their bikeshare program, a timeline of online crowdfunding since 2000, and how the Statue of Liberty was made possible via crowdfunding.
posted by divabat on Jan 19, 2014 - 8 comments

I Have a Chinese Banknote That Everyone in China Is Scared Of

In China, there are certain "bad notes" that frighten people and are refused as legal tender. Why?
posted by reenum on Jan 16, 2014 - 77 comments

Catch Me If You Can: Real Estate Edition

Ryan Mullen was on the run for over 14 years. Then, a professional skip tracer named Michelle Gomez got on the case.
posted by reenum on Dec 29, 2013 - 20 comments

Where Are the People?

The waning influence of evangelical Christianity can be seen through the story of Orange County's Crystal Cathedral.
posted by reenum on Dec 16, 2013 - 59 comments

I love the smell of francs in the morning

Have you dreamed of owning a money bin a la Scrooge McDuck? Your dreams can now become a reality.
posted by reenum on Dec 13, 2013 - 33 comments

In The Jungle

"Mbube", a song that morphed into "The Lion Sleeps Tonight", illustrates the convoluted legalities surrounding music publishing rights and payments.
posted by reenum on Dec 11, 2013 - 19 comments

A Hundred Bucks Says You Won't Read This Story

Esquire's Chris Jones looks at the old techniques used to make the new US $100 bill.
posted by reenum on Dec 9, 2013 - 50 comments

America's New Masters

This shift in how companies are governed and raise money is bringing with it a structural change in American capitalism. That should be a matter of great debate. Are these new businesses, with their ability to circumvent rules that apply to conventional public companies, merely adroit exploiters of loopholes for the benefit of a plutocratic few? Or do they reflect the adaptability on which America’s vitality has always been based? - Rise of the distorporation - how changes in the way companies are financed and managed is changing the wealth distribution of America.
posted by Artw on Nov 2, 2013 - 23 comments

Millions of people follow his biblically inspired advice.

The Prophet: Meet Dave Ramsey, the most important personal finance guru in America. There's probably no better way to learn about the financial lives of individual Americans than to spend a few hours listening to The Dave Ramsey Show, which airs in every major media market in the United States...Listen long enough and you realize you are hearing the raw, unfiltered tragedy of the economic plagues facing 21st-century America. [via]
posted by mediareport on Nov 1, 2013 - 86 comments

“You know what you are, you franchise bastards.”

When the announcement had been made that Wimbledon FC would be moved to Milton Keynes, to later be rebranded MK Dons, a meeting was called by Wimbledon fans. Toward the end of a charged meeting in the Wimbledon Community Centre, Kris Stewart, then chair of the Wimbledon Independent Supporters Club, realized that the fans had no chance of hanging on to their club and that no amount of protests would stop the franchise moving to Milton Keynes. In that moment Stewart made his walk through the crowd toward the microphone. “I’m tired of fighting,” he said before issuing a spontaneous rallying cry that has become legendary among fans of AFC Wimbledon. “I just want to watch football.” (SLTheMorningNews)
posted by Rustic Etruscan on Oct 24, 2013 - 9 comments

I hope the beer in hell is non-alcoholic.

Ruby-Strauss learned his craft working for the notorious Judith Regan, in whose shadow all lowbrow publishing still operates. In college at the University of California, Santa Cruz, he had been a comp-lit major who scoffed when friends talked up popular sci-fi books. “I was too pretentious,” he says. “I was reading Camus.” (A far way from that to Tucker Max, I noted. “Is it?” he replied.) Under Regan, he came to appreciate the simpler beauty of “books that sell.” He acquired a book by shock-rock star Marilyn Manson and then a series of pro-wrestling books, still his highest-selling titles ever. He once took Regan to a match, where he remembers her looking around the arena and declaring happily of the crowd, “You could sell them blank pages!” (SLNewRepublic) [more inside]
posted by Rustic Etruscan on Oct 23, 2013 - 15 comments

Why People Mistake Good Deals for Rip-Offs

Why People Mistake Good Deals for Rip-Offs. In another experiment, the ventral putamen, a region of the brain that processes reward, was more active when people drank Pepsi than when they drank Coke—except when they were told that they were drinking Pepsi. Coke’s brand appeal is so powerful, and our ability to determine the value of cola so fickle, that our brains respond differently as soon as we learn that what we’re drinking isn’t Coke. The physical experience doesn’t change at all, but we’re unable to peg the value of a brown, caffeinated soda until we know where its life began.
posted by crossoverman on Oct 22, 2013 - 97 comments

Money

Money by Robert Wechsler
posted by Blazecock Pileon on Oct 19, 2013 - 13 comments

"How do you calculate the effect that demons have on property value?"

Does Satan worship lower a Las Vegas mansion's value? [latimes.com] How do you determine a price people might pay for such “stigmatized properties?” It’s simple, really. You call Randall Bell.
posted by Fizz on Oct 13, 2013 - 40 comments

Who Sits On All The Money?

The Guardian presents an animated video explaining the distribution of wealth in the UK (and how it's getting worse).
posted by The Whelk on Oct 10, 2013 - 14 comments

McCutcheon v. FEC

Supreme Court to consider lifting campaign contribution limits. Reversing McCutcheon v. Federal Election Commission would allow unlimited individual campaign contributions.
posted by kliuless on Oct 7, 2013 - 101 comments

When To Start Caring About the Powerball Jackpot

Walter Hickey at Business Insider looks at when you should buy a Powerball ticket and whether to take the lump sum or annuity if you win.
posted by reenum on Sep 28, 2013 - 50 comments

Ripe For The Picking

Ask A Native New Yorker: How Guilty Should I Feel About Being A Horrible Gentrifier? Passionate response from a Bushwick native.
posted by The Whelk on Sep 27, 2013 - 205 comments

Game behind gamed: your narrative programming for the day

How The Economic Machine Works by Ray Dalio[1] actually makes a case against austerity[2] and for redistribution, but also for money printing (and, arguably, for bailouts), while stressing the need to keep making productivity-improving public and private investments. However, it could be equally entitled: How The Industrial Age Political-Economy Doesn't Work Anymore, viz. Surviving Progress (2011)... [more inside]
posted by kliuless on Sep 25, 2013 - 28 comments

Giant Bomb

PayPal locked down the developer’s account, and said it could only have 50% of the funds. The rest would be released as development continued, based on PayPal’s assessment of the situation. PayPal was, essentially, going to become a producer going forward. Crowdfunding's Secret Enemy is PayPal
posted by East Manitoba Regional Junior Kabaddi Champion '94 on Sep 20, 2013 - 73 comments

Good Job

In a “third-world” city, a self-styled tour guide might be tipped in return for leading a group of sightseers. In Italy, a Neapolitan street urchin might offer to protect a parked car in return for a gratuity.

In both cases, the inference is clear: if you don’t employ me, I will hurt you. This thinly veiled extortion is the subtext to much tipping: if the propertied individual doesn’t comply with the demands of the semi-employed, something terrible might happen to them or their things. So tipping began essentially as a way to stave off violence by the indigent, forgotten people; it is a social contract adhered to by the privileged class who fear and disdain the less fortunate and are aware of the failure of their own class to create equity.
posted by four panels on Sep 18, 2013 - 42 comments

all the financial advice you’ll ever need

...pretty much everything you need to know [on personal finance] on a 4x6 index card.
posted by latkes on Sep 16, 2013 - 119 comments

Using cash is expensive - especially if you're poor

The costs of cash. Economists know that using cash has a built-in cost, compared to electronic forms of payment like credit cards or direct deposits. (Prepaid cards, not so much.) This creates a "digital divide" that may contribute to income inequality. A new study out today from Tufts quantifies these costs, which hit the poor over three times as much as wealthier folks, on average.
posted by gottabefunky on Sep 9, 2013 - 136 comments

That's what I waaaaaa-aaaaaa-aaaa-aaaa-aaant, yeah

You've more than likely heard this early recording of Money by the Beatles, or perhaps this version by the Rolling Stones. But Barrett Strong, the man who originally recorded it and who was the primary songwriter hasn't shared in the millions of dollars the song has earned over the years.
posted by flapjax at midnite on Sep 2, 2013 - 30 comments

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