The Economic Lessons of Star Trek's Money-Free Society - "[Manu Saadia] points to technologies like GPS and the internet as models for how we can set ourselves on the path to a Star Trek future. 'If we decide as a society to make more of these crucial things available to all as public goods, we're probably going to be well on our way to improving the condition of everybody on Earth', he says. But he also warns that technology alone won't create a post-scarcity future... 'This is something that has to be dealt with on a political level, and we have to face that.' " (via) [more inside]
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]
After nine years of censorship, Canadian scientists can speak about their work. Although it may take time for the policy changes to make their way through the bureaucracy. [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)
The New York Public Library has digitized the diary of one Elizabeth De Hart Bleecker as part of their Early American Manuscripts Project. Bleecker wrote about her life in New York City for seven years, beginning in 1799 when she was eighteen years old and ending in 1806.
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]
How do you quantify the effects of things that don't happen to you? "The whole point of living in a culture is that much of the labor of perception and judgment is done for you, spread through media, and absorbed through an imperceptible process that has no single author." (previously; via)
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]
Why Hamilton—Not Jefferson—Is the Father of the American Economy - "How we can better energize America's economy, create more jobs, and provide more fulfilling lives for our citizens?" By Stephen Cohen and Brad DeLong (previously; [unfinished] book preview) [more inside]
Anchor, which seems to be to audio what Twitter is to writing or Instagram to photography, launched a few days ago as a new "truly public" radio where everyone can contribute and comment. [more inside]
In Sweden, a Cash-Free Future Nears - "Few places are tilting toward a cashless future as quickly as Sweden, which has become hooked on the convenience of paying by app and plastic." [more inside]
The rise of grief policing. The notion that there is but one way to grieve, and that deviation from that way is wrong. Grief policing was on display recently, during the aftermath of David Bowie’s death. Camilla Long, the film critic for The Sunday Times, witnessed the outpouring of emotion posted online as people learned, and tried to make sense, of Bowie’s passing. She did not like the way they mourned. Their grieving, she suggested—or, well, “grieving”—was self-indulgent, and, like so much else on social media, purely performative. “Bowie Blubberers,” she called the grievers. [more inside]
Yosemite to Rename Several Iconic Places - "The National Park Service said today it will rename many well-known spots in Yosemite, as part of an ongoing legal dispute with an outgoing concessionaire that has trademarked many names in the world-famous park."
It's Payback Time for Women - "Society is getting a free ride on our unrewarded contributions to the perpetuation of the human race." (via) [more inside]
In 1981, NPR affiliate station KUSC hatched a bold plan to adapt George Lucas’ Star Wars for radio. Easily the most visual film of the last decade, Star Wars as a listening experience seemed like an unlikely idea, but Lucas sold them the rights to adapt the hit movie for one dollar, and opened the Lucasfilm vaults to the show’s producers: Star Wars sound effects would be available to them in their raw form, along with every note of John Williams’ music. The cast was a mixture of original Star Wars cast members, Hollywood veterans, and future TV and movie stars still in the early stages of their careers. Novelist Brian Daley and Director John Madden then turned the first three films into "movies to watch with your eyes closed." [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]
One mathematician’s formula suggests that all-male lineups don’t “just happen,” despite what conference organizers might claim. "...in any conference with over 10 speakers, say, it would be extremely rare to have no female speakers at all—less than 5 percent chance, depending on one’s assumption about the percentage of women in mathematics as a whole."
Dallas County district attorney Susan Hawk's life fell apart after she took office: divorce, depression and thoughts of suicide. After she fired some of her most experienced staff and amid allegations of erratic or unstable behavior, she vanished from public view in late July. Nine weeks later, she re-emerged to announce that she had undergone two months of treatment at a mental health facility for Major Depressive Disorder. She says she’s ready once again to serve. Is she up to the job? (Some links in this post discuss suicide / suicidal ideation. Some readers may find linked content disturbing.) [more inside]
Vankadarath Saritha, Delhi's first female bus driver - "Women have been to space so why can't we drive a bus?"
Why are little kids in Japan so independent? - 'If we had a nonviolent society, kids could walk around on their own, unafraid, like they do in Japan'. (via)
For nine seasons, (1995-2004) comedienne and actress Kathy Kinney played Mimi Bobeck, the "outrageously made-up, flamboyantly vulgar, and vindictive nemesis" of Drew Carey on the sitcom The Drew Carey Show. Lately, she's been busy with a new role: professional children's storyteller. Welcome to Mrs. P's Magic Library. [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]
All over America, people have put small "give one, take one" book exchanges in front of their homes. Then they were told to tear them down.
Sexual-Preference Cakes We Are Willing to Build (a parody in light of the recent ruling in Colorado that Masterpiece Cakeshop discriminated against two men by refusing to sell them a wedding cake.)
Shared Prosperity, Common Wealth, National Equity and a Citizen's Dividend: Nirit Peled takes a look at social experiments in basic incomes for VPRO Tegenlicht, a Dutch public television documentary series. Starting with a German crowdfunded UBI chosen by raffle -- kind of like the opposite of Le Guin's Omelas (or Shirley Jackson's Lottery in reverse) -- the focus moves on to Albert Wenger who wants to disconnect work from income not only as automation progresses but to accelerate the process. Then it's on to Guy Standing who has conducted basic income experiments in India and Namibia (pdf) and is trying to get one off the ground in Groningen (Utrecht apparently is also a go). Finally, a stop in Alaska to ask some of its residents about their views on the state-owned Permanent Fund. This last part brings to mind the question: just what is wealth anyway? [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]
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]
A Tour of David Černý's Prague. David Černý is shaping Prague’s personality - one sculpture at a time. (previously)
Anyone who writes articles on the web knows the maxim: "Don’t read the comments." Fortunately for Yoni Appelbaum, a recent Ph.D. in history from Brandeis University, the well-known writer Ta-Nehisi Coates routinely ignores that rule.How a history Ph.D. who was on the tenure-track market ended up in with a pretty good gig in journalism, primarily because of the quality of his comments.
Let Us Face the Future - "All parties pay lip service to the idea of jobs for all. All parties are ready to promise to achieve that end by keeping up the national purchasing power and controlling changes in the national expenditure through Government action. Where agreement ceases is in the degree of control of private industry that is necessary to achieve the desired end. In hard fact, the success of a full employment programme will certainly turn upon the firmness and success with which the Government fits into that programme the investment and development policies of private as well as public industry." [more inside]
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]
"It’s absurd to be forced to make an argument in 2014 about why a country needs to invest in long term basic science" [more inside]
"But having survived myself, what I want to do now is help other victims of the shame game survive too. I want to put my suffering to good use and give purpose to my past."Monica Lewinsky gives her first major public speech to speak out against online abuse. Full transcript here.
The Solace of Oblivion by Jeffrey Toobin [The New Yorker] "In Europe, the right to be forgotten trumps the Internet."
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]
"If you need a sign to tell people to slow down, you designed your street wrong." Going from "Forgiving Highways" to "Self-Explaining Roads": A longitudinal look at the Dutch and American responses to motor vehicle traffic safety. [more inside]
The Public Art Archive is a free database of publically visible and accessible works of art, primarily in the United States. It currently contains 8605 works of art, by 3578 artists. For an idea of what's there, they also produced an overview map
Why the modern bathroom is a wasteful, unhealthy design (The Guardian): "Piped water may be the greatest convenience ever known but our sewage systems and bathrooms are a disaster" [more inside]
“Every time the paper blade falls a camera will be triggered to capture the expression of the those who have put their neck on the line for an art experience like no other. Each fearful facial expression, forever immortalized on the PaperCuts-Exhibtion.com.”
- Welfare economics: an introduction
- The perils of Potential Pareto
- Inequality, production, and technology
- Welfare theorems, distribution priority, and market clearing
- Normative is performative, not positive
A Giant Network of Trampolines Suspended in an Abandoned Welsh Slate Mine Open to the public July 4th, 2014
“Hindus are, on average, richer and more educated than Muslims. But oddly, the child mortality rate for Hindus is much higher. All observable factors say Hindus should fare better, but they don't. Economists refer to this as the Muslim mortality puzzle. In a new study, researchers believe that they may have found a solution to the puzzle. And, surprisingly, the solution lies in a single factor – open defecation.” [more inside]