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]
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]
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]
- 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
How The Economic Machine Works by Ray Dalio actually makes a case against austerity 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]
"Them and Them." "Rockland County, New York's East Ramapo school district is a taxpayer-funded system fighting financial insolvency. It is also bitterly divided between the mostly black and Hispanic children and families who use the schools and the Hasidic and ultra-Orthodox Jewish majority who run the Board of Education and send their children to private, religious schools." Also see: A District Divided. [more inside]
Anthony Weiner and Huma Abedin’s Post-Scandal Playbook (Spoiler: The disgraced Congressman is likely running for Mayor of New York City. SLNYT, Via)
The last King of Rwanda, Kigeli V Ndahindurwa, lives on public assistance in low-income housing, at a dead end between US Route 66 and State Route 655 in Oakton, Virginia. 'He ruled Rwanda for just nine months in the 1960's before fleeing a revolt and has spent the last half century in exile, powerless to stop the violence that ripped through his country. He is 76 years old now, his tottering seven-foot-two-inch frame stooped by age and the vagaries of fate.'
Economists and the theory of politics - "why unions were often well worth any deadweight cost" [more inside]
What really concerns librarians; what do they discuss when they self-organise and decide for themselves? After the inaugural UK event, the second UK Librarycamp, with around 200 attendees, was recently held; reflections by Frank Norman, Carolin Schneider  , Sarah Wolfenden, Amy Faye Finnegan, Shambrarian Knights, Michelle, Jennifer Yellin, Jenni Hughes, Bookshelf Guardian, Amy Cross-Menzies and Simon Barron, and by one of the organisers. [more inside]
In the two years building up to the government’s NHS reform bill, the BBC appears to have categorically failed to uphold its remit of impartiality, parroting government spin as uncontested fact, whilst reporting only a narrow, shallow view of opposition to the bill. In addition, key news appears to have been censored. The following in-depth investigation provides a shocking testimony of the extent to which the BBC abandoned the NHS.
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]
"The Man Who Never Was." Vanity Fair editor Todd S. Purdum follows up his 2007 profile of then-Senator John McCain and a scathing 2009 profile of Sarah Palin by asking whether McCain, "...the leader so many Americans admired — and so many journalists covered — ever truly existed." (Previously)
"Scandal is our growth industry. Revelation of wrongdoing leads not to definitive investigation, punishment, and expiation but to more scandal. Permanent scandal. Frozen scandal." [Via]
Rethinking Public Opinion - the immense importance of public opinion polling in American politics, and the under-reported problems at the heart of the enterprise, combine to call for a serious critique of the polling industry, its assumptions, and its method