16 posts tagged with money and technology.
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How to fix inequality: Squash the finance industry and redistribute more

Joe Stiglitz on Inequality, Wealth, and Growth: Why Capitalism is Failing (video; if you don't have 30m, skip to 20m for discussion of political inequality, wealth, credit and monetary policy) - "If the very rich can use their position to get higher returns, more investment information, more extraction of rents, and if the very rich have equal or higher savings rates, then wealth will become more concentrated... economic inequality inevitably gets translated into political inequality, and political inequality gets translated into more economic inequality. The basic and really important idea here is that markets don't exist in a vacuum, that market economies operate according to certain rules, certain regulations that specify how they work. And those effect the efficiency of those markets, but they also effect how the fruits of the benefits of those markets are distributed and the result of that is there are large numbers of aspects of our basic economic framework that in recent years have worked to increase the inequality of wealth and income in our society... leading to a society which can be better described, increasingly, as an inherited plutocracy." [more inside]
posted by kliuless on Jun 2, 2015 - 27 comments

Tomorrow's Advance Man

The New Yorker's 13,000-word profile of Marc Andreessen
posted by mecran01 on May 12, 2015 - 31 comments

Dealing with the transition to the information age

BIG and BOT Policy Proposals (transcript) - "Many of our current economic policies originated during times of scarcity. But now, says investor Albert Wenger, we live in an era of 'digital abundance', when creating new products costs virtually nothing. To adapt to the resulting economic upheavals, we won't need just more tech, says Wenger, but some strong policies. Here he explores two: basic income guarantee and the right to be represented by a bot." [more inside]
posted by kliuless on Jan 23, 2015 - 14 comments

Death of Banks

The End of Banking: Money, Credit, and the Digital Revolution - "Unregulated banking with access to government guarantees is an enticing business model. It offers the profits of excessive risk-taking in good times, and allows passing on the inevitable losses to taxpayers in bad times." [more inside]
posted by kliuless on Jan 21, 2015 - 19 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

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

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

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

Incommensurable values

Economists and the theory of politics - "why unions were often well worth any deadweight cost" [more inside]
posted by kliuless on Mar 25, 2013 - 27 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

the dawn of a Star Trek generation

In Praise of Leisure - "Imagine a world in which most people worked only 15 hours a week. They would be paid as much as, or even more than, they now are, because the fruits of their labor would be distributed more evenly across society. Leisure would occupy far more of their waking hours than work. It was exactly this prospect that John Maynard Keynes conjured up in a little essay published in 1930 called 'Economic Possibilities for Our Grandchildren.' Its thesis was simple. As technological progress made possible an increase in the output of goods per hour worked, people would have to work less and less to satisfy their needs, until in the end they would have to work hardly at all... He thought this condition might be reached in about 100 years — that is, by 2030." (via) [more inside]
posted by kliuless on Jun 22, 2012 - 117 comments

sovereignty and taxation

David Graeber: Of Flying Cars and the Declining Rate of Profit (via) [more inside]
posted by kliuless on Jun 8, 2012 - 85 comments

2061

On November 22, 2011, TEDxBrussels held an all day event whose theme was: "A Day in the Deep Future." Speakers were asked to try and contemplate what life will be like for mankind in 50 years. Overview. [more inside]
posted by zarq on Dec 28, 2011 - 29 comments

PayPal should not exist

Might the consumer banking revolution be coming? "Yodlee is the engine behind the online banking operations of most banks in America — and, for that matter, of mint.com... and it's now going to open up that database to software developers around the world." With mobile internet adoption soaring, the birth of iBanking may not be that far behind. An upgrade of payment and financial information systems could be closer than you think. [more inside]
posted by kliuless on Dec 11, 2009 - 33 comments

The End of Money

The End of Money Interesting article about what money really means in the digital age. "If you want currency backed by something tangible, sign up for 5,000 frequent flier miles on a new Visa card. "
posted by zeoslap on Feb 22, 2001 - 9 comments

Paying for McDonalds drive-thru food without cash

Paying for McDonalds drive-thru food without cash is the latest shameless marketing attempt to make things as "convenient " as possible. The sad thing is, what they're really trying to do is separate the notion of real money from "digital money" so you'll buy more stuff, thinking it's all monopoly money (credit card companies have built an industry on doing exactly this).
posted by mathowie on Jan 26, 2000 - 1 comment

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