Recession prompted 'unprecedented' fall in wages - Wages have fallen more in real terms in the current economic downturn than ever before, according to a report.
On top of the rising cost of living, a third of workers who stayed in the same job saw a wage cut or freeze between 2010 and 2011, said the Institute for Fiscal Studies (IFS).
"The falls in nominal wages... during this recession are unprecedented," said Claire Crawford from the IFS.
Labour said the figures showed there was a "living-standards crisis".
posted by marienbad
on Jun 12, 2013 -
62 comments
House of Cards is a new original "TV" series that is not destined for any TV distribution channel. Instead, it was developed by, and is only available through, Netflix. Netflix posted the entire first "season," 13 1-hour episodes, on Friday.
(Is this the new thing?) Some of us, cough, watched the whole thing.
[more inside]
posted by grobstein
on Feb 3, 2013 -
106 comments
Has politics gone peer-to-peer? A rich 90-minute panel discussion with Steven Johnson, author of "Future Perfect: The Case for Progress in a Networked World", featuring Yochai Benkler, Susan Crawford and Lawrence Lessig.
posted by mhjb
on Nov 26, 2012 -
6 comments
"Liberals have not always been very good at communicating why liberalism works. There’s many reasons for this, but part of it is that it can be hard to defend the obvious from an absurd and deceptive attack. For half a century you had to be a crank to oppose what Roosevelt accomplished; liberals got out of the habit of arguing for their beliefs.
I hope this page will help. Liberals don’t need to apologize for their vision of how American society should work. Liberalism saved American capitalism and democracy, defeated Naziism, created a prosperous middle class, and benefited every sector of society, from the back streets to Wall Street. " Mefi's own Zompist (
previously) on
Why Liberalism Works.
posted by The Whelk
on Sep 30, 2012 -
109 comments
Financial Markets, Politics and the New Reality:
"Louis M. Bacon is the head of Moore Capital Management, one of the largest and most influential hedge funds in the world. Last week, he announced that he was returning one quarter of his largest fund, about $2 billion, to his investors, [saying] it is impossible to make money when there is heavy political involvement, because political involvement introduces unpredictability in the market… Adam Smith and David Ricardo, who modern investors so admire, [never] used the term "economics" by itself, but only in conjunction with politics; they called it political economy… The investors' problem is that they mistake the period between 1991 and 2008 as the norm and keep waiting for it to return."
posted by the mad poster!
on Aug 9, 2012 -
36 comments
In less than an hour, the Supreme Court will hand down its final judgment in what has become one of the most crucial legal battles of our time: the constitutionality of President Obama's landmark health care reform law.
The product of a strict party line vote following a
year century of debate,
disinformation, and tense legislative wrangling, the
Affordable Care Act would (among
other popular reforms) require all Americans to buy insurance coverage by 2014,
broadening the risk pool for the benefit of those with pre-existing conditions.
The fate of this "individual mandate," bitterly opposed by Republicans despite its similarity to
past plans touted by conservatives (including presidential contender
Mitt Romney) is
the central question facing the justices today. If the conservative majority takes
the dramatic step of striking down the mandate, the law will be toothless, and in danger of wholesale reversal,
rendering millions uninsured, dealing a crippling blow to the president's re-election hopes, and possibly
endangering the federal regulatory state.
But despite the
pessimism of bettors,
some believe the Court will demur, wary of
damaging its
already-fragile reputation with
another partisan 5-4 decision. But
those who know don't talk, and those who talk don't know. Watch the
SCOTUSblog liveblog for updates, Q&A, and analysis as the truth finally comes out shortly after 10 a.m. EST.
posted by Rhaomi
on Jun 28, 2012 -
1173 comments
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
Why Nations Fail -
In a nutshell: "Proximately, prosperity is generated by investment and innovation, but these are acts of faith: investors and innovators must have credible reasons to think that, if successful, they will not be
plundered by the powerful. For the polity to provide such reassurance, two conditions have to hold: power has to be centralised and the institutions of power have to be inclusive."
[more inside]
posted by kliuless
on Mar 15, 2012 -
78 comments
The 'precariat' "consists of a multitude of insecure people, living bits-and-pieces lives, in and out of short-term jobs, without a narrative of occupational development, including millions of frustrated educated youth who do not like what they see before them, millions of women abused in oppressive labour, growing numbers of criminalised tagged for life, millions being categorised as ‘disabled’ and migrants in their hundreds of millions around the world".
[more inside]
posted by hydatius
on Mar 4, 2012 -
27 comments
This is the story of one cut. Back in October 2010 George Osborne announced £95 billion in cuts to public services, saying he’d leave it to councils to choose what to shut down. Inevitably most of the casualties ended up being unrenowned places, unlikely to stir up much protest - drop-in centers in housing estates, inner-city park rangers, community theatres, etc. I wanted to write about just one of them, about the ripples created by a single closure. I made my selection quite randomly. I chose a place called Youthreach. I didn’t know much about them, only that they offered weekly counseling sessions to young people, aged 11–25, in Greenwich, South East London. Jon Ronson
posted by fearfulsymmetry
on Dec 29, 2011 -
16 comments
Critics of the Occupy Wall Street movement have complained that the protestors have no clear goals, so
WE DON'T MAKE DEMANDS composed a list of 12 concrete, specific suggestions focusing on economic reform, stronger regulation, and closing loopholes.
posted by The Whelk
on Nov 30, 2011 -
193 comments
From 1935 to 1951, Time Magazine bridged the gap between print & radio news reporting and the new visual medium of film, with
March of Time: award-winning newsreel reports that were a combination of objective documentary, dramatized fiction and pro-American, anti-totalitarian propaganda. They “often
tackled subjects and themes that audiences weren’t used to seeing —
foreign affairs,
social trends, public-health issues — and did so with a combination of panache and subterfuge that today seems either absurd or visionary.”
(Previous two links have autoplaying video.) By 1937, the short films were being seen by as many as 26 million people every month and
may have helped steer public opinion on numerous issues,
including (
eventually) America’s
entry to WWII. Video samples are available at
Time.com, the
March of Time Facebook page and the entire collection is available online,
(free registration required) at
HBO Archives. [more inside]
posted by zarq
on Aug 22, 2011 -
8 comments
Researchers at the
New England Complex Systems Institute say they've uncovered a pattern that triggers riots wherever it's found. What is that pattern?
The price of food. When it rises to a certain level, social unrest & violence are soon to follow. According to their calculations the food price index is due to peak in August of 2013, assuming no corrective action is taken. The original paper is
here.
posted by scalefree
on Aug 21, 2011 -
49 comments
Fareed Zakaria: Are America's Best Days Behind Us? - "We have an Electoral College that no one understands and a Senate that doesn't work, with rules and traditions that allow a single Senator to obstruct democracy without even explaining why. We have a crazy-quilt patchwork of towns, municipalities and states with overlapping authority, bureaucracies and resulting waste. We have a political system geared toward ceaseless fundraising and pandering to the interests of the present with no ability to plan, invest or build for the future. And if one mentions any of this, why, one is being unpatriotic, because we have the perfect system of government, handed down to us by demigods who walked the earth in the late 18th century and who serve as models for us today and forever. America's founders would have been profoundly annoyed by this kind of unreflective ancestor worship." [
for/
against]
posted by kliuless
on Apr 17, 2011 -
93 comments
