Just print money and give it to everyone by Chris Arnade: "The usual answer to why we don't do this is that it isn't politically feasible and there is no precedent. 1) That has never stopped bank bailouts, which often require a great deal of political and regulatory ingenuity to jam through. (TARP cough TARP) 2) It is a symptom of a system built by and for the bankers to benefit themselves. It is the equivalent of saying, 'We can't do it because we have never wanted to do it'. That we don't do it this way isn't just a small economic quibble with no impact. The most visceral anger I hear from voters across the country is directed at bank bailouts, which they see as evidence of a rigged system. They are right. The system is rigged in the sense that our primary method to stimulate the economy also conveniently bails out bankers." (previously; via) [more inside]
Women Were Included in the Civil Rights Act as a Joke And a racist joke, at that. But working women and black civil rights lawyers had the last laugh when they brought women’s workplace rights to the courts and won.
In his follow-up to Sapiens, Yuval Noah Harari envisions what a 'useless class' of humans might look like as AI advances and spreads - "I'm aware that these kinds of forecasts have been around for at least 200 years, from the beginning of the Industrial Revolution, and they never came true so far. It's basically the boy who cried wolf, but in the original story of the boy who cried wolf, in the end, the wolf actually comes, and I think that is true this time." [more inside]
Kennedy was right - "Much that is valuable is neither tangible nor tradable... Gross domestic product (GDP) is increasingly a poor measure of prosperity. It is not even a reliable gauge of production."* [more inside]
World After Capital by Albert Wenger [Work in Progress; GitHub; GitBook; PDF; FAQ] - "Technological progress has shifted scarcity for humanity. When we were foragers, food was scarce. During the agrarian age, it was land. Following the industrial revolution, capital became scarce. With digital technologies scarcity is shifting from capital to attention. World After Capital suggests ways to expand economic, informational and psychological freedom to go from an industrial to a knowledge society." (previously)
No Labels is an American political organization based in the United States, composed of Republicans, Democrats, and Independents, whose mission is to "usher in a new era of focused problem solving in American politics." As the election draws nearer they have begun promoting their National Strategic Agenda; based on a nationwide survey conducted in the fall of 2013, it's billed as "A Policy Playbook For America's Next President." (Wikipedia)
Elizabeth Warren has a great idea for making Tax Day less painful - "She's taking on TurboTax and other predatory companies." [more inside]
Feminist economics deserves recognition - "In 2014 only 12% of American economics professors were female, and only one woman (Elinor Ostrom) has won the Nobel prize for economics.[1,2,3] But in terms of focus, economists have embraced some feminist causes. Papers abound on the 'pay gap' (American women earned 21% less than men for full-time work in 2014), and the extra growth that could be unlocked if only women worked and earned more. A recent paper, for instance, claimed that eliminating gender discrimination in Saudi Arabia could bring its GDP per person almost level with America's. (Feminists, of course, consider gender equality a worthy goal irrespective of its impact on GDP.) That raises a question. Does 'Feminist economics', which has its own journal, really bring anything distinctive?" [more inside]
an introduction to fiat money (pdf) by Steve Randy Waldman:* - "Self-reinforcing bootstrap dynamics hold as strongly for a king's token as it would for any other thing, but much more stably so, since the king can reinforce and assure the stability of his token so long as he retains the political capacity to coerce or persuade payment of tax." (via) [more inside]
Jane Mayer takes on the Koch Brothers [1,2,3] - "For decades, billionaire libertarians Charles and David Koch have spent millions trying to reduce the size of government and slash regulations, making the brothers a target of the political Left and campaign finance reformers. But few people have dug deeper into the Koch empire and family history than New Yorker staff writer Jane Mayer, author of the new book 'Dark Money'. Among other revelations, she alleges that the brothers hired private detectives to investigate her after she published articles critical of them. We talk to Mayer about the book and about what the rise of Donald Trump means for the Kochs and their allies." (previously)
The case for optimism on climate change - "I'll finish with this story. When I was 13 years old, I heard that proposal by President Kennedy to land a person on the Moon and bring him back safely in 10 years. And I heard adults of that day and time say, 'That's reckless, expensive, may well fail.' But eight years and two months later, in the moment that Neil Armstrong set foot on the Moon, there was great cheer that went up in NASA's mission control in Houston. Here's a little-known fact about that: the average age of the systems engineers, the controllers in the room that day, was 26, which means, among other things, their age, when they heard that challenge, was 18." (via; previously) [more inside]
Helicopter drops might not be far away - "Central banks could be given the power to send money, ideally in electronic form, to every adult citizen. Would this add to demand? Absolutely."
Kim-Mai Cutler: Nothing Like This Has Ever Happened Before - "San Francisco Bay Area poverty rates in all nine counties have increased in the last economic cycle, even with the Facebook and Twitter IPOs and private tech boom. The main transfer mechanism is land and housing costs, as rising rents and evictions push service and other low-wage workers to the brink. [Henry] George's solution was a single land tax that would replace all other government revenue sources. If an owner wanted to develop their property to make it more useful or productive, George argued that they should have the right to keep the value from those efforts. But increases in the value of underlying land were created by — and ultimately belonged to — the public at large." (previously: 1,2,3) [more inside]
Birgitta Jónsdóttir May Be Iceland's Next Prime Minister - "Poetry told Birgitta that she is alive. The internet taught her that she belongs in this world. The crisis showed her that she has a role to play, and politics showed her that everything needs to change." (Jónsdóttir, WikiLeaks & Iceland, previously) [more inside]
Think you can tell a Democrat from a Republican? You are presented with a bill from 2005-2014, and have to decide if that bill was sponsored by a Democrat or a Republican. Some are obvious, some are tricky, and some are really surprising! [via mefi projects]
The Police Use of Force Project investigates the ways in which police use of force policies help to enable police violence in our communities. (Proposed policy solutions from Campaign Zero) [more inside]
A Syrian Refugee's first month in Canada Vanig Garabedian, 47, was on board the first government-organized flight of Syrian refugees to Canada on Dec. 10. He came with his wife Anjilik Jaghlassian and their daughters Sylvie and Lucie, 12, and Anna-Maria, 10. The very first people to leave the plane, the family’s arrival in Toronto was widely photographed, as was their meeting with the prime minister. One month later, Garabedian, an obstetrician/gynecologist for 15 years in Aleppo, has settled into an apartment in the suburbs of Toronto.
For the Wealthiest, a Private Tax System That Saves Them Billions -"The very richest are able to quietly shape tax policy that will allow them to shield billions in income." (via) [more inside]
Kentucky counties with highest Medicaid rates backed Matt Bevin, who plans to cut Medicaid
Owsley County, one of the nation's poorest places [prev], neatly fit the trend. Nearly 1,000 of its 4,508 residents got health insurance after Democratic Gov. Steve Beshear established Kynect two years ago and expanded Medicaid to include people up to 138 percent of the poverty level, which is $16,105 a year for an individual. Newly insured people started to visit the Owsley County Medical Clinic on the outskirts of Booneville. They desperately needed medical care. Even by Kentucky's lax standards, Owsley has high rates of obesity, smoking and poor nutrition, and as a result, greater than normal incidences of cancer, heart disease and diabetes. Some patients wept with relief as longtime ailments finally were treated, clinic officials said. [...] The community's largest-circulation newspaper, the Three Forks Tradition in Beattyville, did not say much about Kynect ahead of the election. Instead, its editorials roasted Obama and Hillary Clinton, gay marriage, Islam, "liberal race peddlers," "liberal media," black criminals and "the radical Black Lives Matter movement."Owsley County voted for Bevin, a Tea Party businessman who vowed to dismantle Kynect, by a 70-25 margin. [more inside]
Rewrite the rules to benefit everyone, not just the wealthy - "If there's one thing Joseph Stiglitz wants to say about inequality, it's that it has been a choice, not an unexpected, unfortunate economic outcome. That's unnerving, but it also means that citizens and politicians have the opportunity to fix the problem before it gets worse." (via) [more inside]
The Future of (Post)Capitalism - "Paul Mason shows how, from the ashes of the recent financial crisis, we have the chance to create a more socially just and sustainable global economy." (previously; via) [more inside]
The District would become the most generous place in the country for a worker to take time off after giving birth or to care for a dying parent under a measure proposed in the D.C. Council. Under the legislation introduced October 6, "almost every part-time and full-time employee in the nation’s capital would be entitled to 16 weeks of paid family leave to bond with an infant or an adopted child, recover from an illness, recuperate from a military deployment or tend to an ill family member," according to The Washington Post. [more inside]
Breaking the Tragedy of the Horizon – climate change and financial stability: Bank of England Governor Mark Carney warns investors face 'huge' climate change losses - "The Financial Stability Board, an international body monitoring the global financial system that Mr Carney chairs, may recommend G20 countries make it easier for investors to compare the 'carbon intensity' of different assets." [more inside]
FINLAND: New Government Commits to a Basic Income Experiment - "The Finnish government of Juha Sipilä is considering a pilot project that would give everyone of working age a basic income."[1,2,3] (via) [more inside]
A short game sheds light on government policy, corporate America and why no one likes to be wrong. [SLNYT]
Inside Obama's Stealth Startup Their mission: to reboot how government works.
In the wake of its split from eBay, online transaction service PayPal will be changing its policies on July 1st, 2015. Under the new arrangement, U.S. based users may opt-out from using PayPal or "consent to receive autodialed or pre-recorded calls and text messages from PayPal at any telephone number that you have provided us or that we have otherwise obtained. [more inside]
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]
After months of undercover work, Williams and Moon had information on more than 40 suspects, but the department realized it didn’t have the funds or the manpower to round them all up. So it had to come up with clever ideas. “Cops used to offer parolees free tickets to the Detroit Lions, then arrest them,” recalls Peggy Lawrence, a Flint historian. On one occasion, Moon quietly arrested and locked up stolen property dealer, announced his death in the newspaper, and arrested gang members who showed up at his fake funeral. “Sometimes you gotta do things that are simply funny,” Moon later told a television reporter. “People gotta go to jail, but it don’t always have to be sad.” In 1990, the department planned a particularly elaborate operation: Officers would throw a fake wedding, invite all the suspects, and arrest them.
China rates its own citizens - including online behaviour: "The Chinese government is currently implementing a nationwide electronic system, called the Social Credit System, attributing to each of its 1,3 billion citizens a score for his or her behavior. The system will be based on various criteria, ranging from financial credibility and criminal record to social media behavior. From 2020 onwards each adult citizen should, besides his identity card, have such a credit code." [more inside]
Foundation: Public Goods and Options for the Bottom Billions - "Human beings just don't handle the very long run well" and that's where government increasingly comes in... (via) [more inside]
"Dying to be free : there’s a treatment for heroin addiction that actually works. Why aren’t we using it?" -- A long-form article, focusing on heroin addiction and its "treatment" in Kentucky, by Jason Cherkis. (Huffington Post Projects) [more inside]
Kochs Plan to Spend $900 Million on 2016 Campaign - "an unparalleled effort by coordinated outside groups to shape a presidential election that is already on track to be the most expensive in history... These donors represent the largest concentration of political money outside the party establishment, one that has achieved enormous power in Republican circles in recent years. Now the Kochs' network will embark on its largest drive ever to influence legislation and campaigns across the country, leveraging Republican control of Congress and the party's dominance of state capitols to push for deregulation, tax cuts and smaller government."
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]
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]
Raj Chetty gives the 2015 Richard T. Ely Lecture (video, slides; talk begins at 9m) for the AEA: [more inside]
Republicans in state governments plan juggernaut of conservative legislation - "Enjoying a majority of unprecedented breadth, Republicans plan a new tide of conservative initiatives targeting the Common Core, abortion, income taxes, labor unions and the EPA." (via) [more inside]
43 ways NYC changed under Mayor de Blaiso (nymag.com)
The most recent episode of the Ruby Rogues podcast — #179 Accountability and Diversity with Meagan Waller — is a treasure trove of insights and info about unconscious biases, diversity, employment, culture, tech, and more. The podcast page features a timestamped topic outline of the discussion, as well as many links to the Ruby community websites, projects, studies, conferences, and controversies they discuss… [more inside]
Nearly a year after his son brutally attacked him and then took his own life, Virginia state senator Creigh Deeds wrestles with conflicting emotions and questions for which there are no easy answers. [more inside]
One-Fifth of Detroit's Population Could Lose Their Homes — Many families could stay put for just a few hundred dollars, if only they knew how to work the system. (SLAtlantic)
The New York Times on regulation and lobbying around cafeteria food: "The average school-nutrition director is not unlike the chief executive of a medium-size catering business, but with a school for a landlord and a menu regulated by the government. With lower subsidies, the lunch ladies needed cheaper calories, and they turned to the increasingly efficient processed-food industry to find them. School cafeterias also began to rely more on revenue from so-called competitive foods — snacks and lunches that are not regulated by federal guidelines and “compete” with the regular school lunch on cafeteria à la carte lines."
Three North Carolina researchers spend 18 months learning about the food and cooking choices of almost 200 households. They learned, perhaps unsurprisingly, that simply encouraging households to cook healthier meals at home was unlikely to address the challenges to healthy eating most families face. [more inside]
According to the American Society of Addiction Medicine, addiction is “a primary, chronic disease of brain reward, motivation, memory and related circuitry.” However, that’s not what the epidemiology of the disorder suggests. By age 35, half of all people who qualified for active alcoholism or addiction diagnoses during their teens and 20s no longer do, according to a study of over 42,000 Americans in a sample designed to represent the adult population.
Only a quarter of people who recover have ever sought assistance in doing so (including via 12-step programs). This actually makes addictions the psychiatric disorder with the highest odds of recovery.Metafilter's own maias on myths surrounding the disease(?) of substance addiction, and their impact on medicine and policy.
A timeline of diseases and vaccines [warning: graphic photo of cutaneous diphtheria at year 1975]. Categories are: diphtheria, measles, polio, smallpox, yellow fever, and 'others'. You can select one keyword to view only that subject's timeline. From the History of Vaccines website (about page | FAQ). Similar timelines at the same site for pioneers, science and society, and there's an En Español timeline, too. [more inside]
The Economic Risks of Climate Change in the United States (PDF); prospectus (PDF); press coverage (YT) - "The signature effects of human-induced climate change—rising seas, increased damage from storm surge, more frequent bouts of extreme heat—all have specific, measurable impacts on our nation's current assets and ongoing economic activity. [The report] uses a standard risk-assessment approach to determine the range of potential consequences for each region of the U.S.—as well as for selected sectors of the economy—if we continue on our current path..." [more inside]