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]
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]
Ben Popper writes about the increased faith in strangers and falling crime rates that are enabling services like Lyft, AirBNB, TaskRabbit, and others in the new "sharing economy". [more inside]
Economists and the theory of politics - "why unions were often well worth any deadweight cost" [more inside]
Chimp Fights and Trolley Rides from Radiolab's morality episode: "try to answer tough moral quandaries. The questions--which force you to decide between homicidal scenarios--are the same ones being asked by Dr. Joshua Greene. He'll tell us about using modern brain scanning techniques to take snapshots of the brain as it struggles to resolve these moral conflicts. And he'll describe what he sees in these images: quite literally, a battle taking place in the brain. It's 'inner chimp' versus a calculator-wielding rationale."
Start Your Own Currency - "In the Catalonia region of Spain, a restaurant and a community garden are part of an experiment in alternative cash--they are accepting a home-grown currency called the Eco as well as the Euro." [viz. gated article (Google link), cf. The Wörgl Experiment]
Trust, Coordination Technology* & The Experience Economy - "It could be that the nature of technological change isn't causing the slowdown** but a shift in values.*** It could be that in an industrial economy people develop a materialist mind-set and believe that improving their income is the same thing as improving their quality of life. But in an affluent information-driven world, people embrace the postmaterialist mind-set. They realize they can improve their quality of life without actually producing more wealth." (via mr) [more inside]
The Birth of Sharing Law and the Rise of Co-ops - "A new sharing economy is emerging — but how does it fit within our legal system? Time for a whole new field of cooperation law." (via wc)