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]
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)
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."
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]
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]
Daniel Radcliffe’s Next Trick Is to Make Harry Potter Disappear (slnyt profile, via) [more inside]
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]
Rising Demand for Long-Term Services and Supports for Elderly People (pdf, 574 kb) - "By 2050, one-fifth of the total U.S. population will be elderly (that is, 65 or older), up from 12 percent in 2000 and 8 percent in 1950. The number of people age 85 or older will grow the fastest over the next few decades, constituting 4 percent of the population by 2050, or 10 times its share in 1950. That growth in the elderly population will bring a corresponding surge in the number of elderly people with functional and cognitive limitations."
"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]
When is a private space a public space? When it's a Privately Owned Public Space (POPS). In accordance with the planning codes of some cities, owners or builders of buildings are mandated to provide members of the general public access to spaces which include rooftop gardens, courtyards, and plazas. [more inside]
How Private Is 'Private Charity'? Private charity may be more accurately described as "private donations coupled with involuntary, tax-financed public subsidies." And it's not fair: "very low-income people paying only payroll taxes get hardly any leverage for their donations. Very high-income people in states with high income-tax rates – such as New Jersey and New York – can through the tax code virtually double the money funneled to a charity per dollar of their own sacrifice." (previously)
From the Pentagon to the private sector - In large numbers, and with few rules, retiring generals are taking lucrative defense-firm jobs [more inside]
Shared social responsibility - When customers could pay what they wanted in the knowledge that half of that would go to charity, sales and profits went through the roof ... Gneezy describes the combination of charitable donations and paying what you like as 'shared social responsibility', where businesses and customers work together for the public good. (via mr) [also see 1,2,3]
Exposed: Voyeurism, Surveillance and the Camera is an exhibition at the Tate Modern in London which examines voyeurism through the medium of photography. In addition to works from professionals such as Brassaï, Henri Cartier-Bresson, Lee Miller, Shizuka Yokomizo, Guy Bourdin, Nan Goldin and Robert Mapplethorpe, it includes amateur and CCTV "stolen" images taken both with and without the knowledge of their subjects -- all intended to "explore the uneasy relationship between making and viewing images that deliberately cross lines of privacy and propriety." [more inside]
The U.S. Supreme Court has held that the bed and banks under all rivers, lakes, and streams that are navigable, for title purposes, are owned by the states, held in trust for the public. Mineral extraction interests and other parties often challenge this 'public use' designation by using/abusing the navigabilty designation to keep out fisherman and other recreational users in order to exploit the rivers for private gain. The Upper Sacramento River and McCloud Rivers of Northern California are the latest battleground in recreational river access. In what has become all too common, an ugly fight pitting sportsmen and nature enthusiasts against private interests is unfolding. One blogger has led the good fight to keep the rivers public. He could use your help... but it doesn't look good, and there is not much time!