23 posts tagged with wealth and technology.
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Dataism: Getting out of the 'job loop' and into the 'knowledge loop'

From deities to data - "For thousands of years humans believed that authority came from the gods. Then, during the modern era, humanism gradually shifted authority from deities to people... Now, a fresh shift is taking place. Just as divine authority was legitimised by religious mythologies, and human authority was legitimised by humanist ideologies, so high-tech gurus and Silicon Valley prophets are creating a new universal narrative that legitimises the authority of algorithms and Big Data." [more inside]
posted by kliuless on Sep 7, 2016 - 44 comments

Trekonomics

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]
posted by kliuless on Jun 21, 2016 - 102 comments

Sapiens 2.0: Homo Deus?

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]
posted by kliuless on May 24, 2016 - 23 comments

Redefining Wealth and Prosperity in the 21st Century

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]
posted by kliuless on May 11, 2016 - 10 comments

WORLD OF TOMORROW

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)
posted by kliuless on May 7, 2016 - 23 comments

What's changed and changing about (American) politics?

The three party system - "There are three major political forces in contemporary politics in developed countries: tribalism, neoliberalism and leftism (defined in more detail below). Until recently, the party system involved competition between different versions of neoliberalism. Since the Global Financial Crisis, neoliberals have remained in power almost everywhere, but can no longer command the electoral support needed to marginalise both tribalists and leftists at the same time. So, we are seeing the emergence of a three-party system, which is inherently unstable because of the Condorcet problem and for other reasons." [more inside]
posted by kliuless on Mar 4, 2016 - 77 comments

The Gilded Age, Henry George, the Land Value Tax and the Progressive Era

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]
posted by kliuless on Feb 19, 2016 - 33 comments

UBI in NYT

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]
posted by kliuless on Jan 11, 2016 - 79 comments

Faced with gaping moral and economic holes in society

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]
posted by kliuless on Nov 11, 2015 - 112 comments

Desire Modification in the Attention Economy

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]
posted by kliuless on Nov 4, 2015 - 22 comments

Basic Income: How to Fix a Broken Monetary Transmission Mechanism

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]
posted by kliuless on Sep 4, 2015 - 24 comments

After Capitalism, Humanism

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]
posted by kliuless on Jul 2, 2015 - 7 comments

How to fix inequality: Squash the finance industry and redistribute more

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]
posted by kliuless on Jun 2, 2015 - 27 comments

A Day In the •Life

A bulbous, friendly little thing - The Verge’s Nilay Patel spends a day with the Apple Watch. [more inside]
posted by Artw on Apr 8, 2015 - 205 comments

The Social Construction of Money (Wealth/Capital in the 21st Century)*

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]
posted by kliuless on Sep 19, 2014 - 62 comments

Utility, welfare, and efficiency

  1. Welfare economics: an introduction
  2. The perils of Potential Pareto
  3. Inequality, production, and technology
  4. Welfare theorems, distribution priority, and market clearing
  5. Normative is performative, not positive

posted by kliuless on Jul 7, 2014 - 7 comments

Evenly distribute the future: Issuing more bio-survival tickets

VC for the people - "It's just that people who have options are much more likely to actually find success than people who don't." [more inside]
posted by kliuless on Apr 18, 2014 - 20 comments

How Obama's tech team saved his presidency a second time

Inside the Nightmare Launch of HealthCare.Gov - "Unknown to a nation following the fiasco, McDonough's assignment from the President had boiled down to something more dire than how to fix the site. As the chief of staff remembers his mission, it was 'Can it be patched and improved to work, or does it need to be scrapped to start over? He wanted to know if this thing is salvageable.' Yes, on Oct. 17, the President was thinking of scrapping the whole thing and starting over." (previously) [more inside]
posted by kliuless on Mar 3, 2014 - 120 comments

Incommensurable values

Economists and the theory of politics - "why unions were often well worth any deadweight cost" [more inside]
posted by kliuless on Mar 25, 2013 - 27 comments

Google Invades

Rebecca Solnit on how Silicon Valley corporations are transforming San Francisco: I weathered the dot-com boom of the late 1990s as an observer, but I sold my apartment to a Google engineer last year and ventured out into both the rental market (for the short term) and home buying market (for the long term) with confidence that my long standing in this city and respectable finances would open a path. That confidence got crushed fast. It turned out that the competition for any apartment in San Francisco was so intense that you had to respond to the listings – all on San Francisco-based Craigslist of course, the classifieds website that whittled away newspaper ad revenue nationally – within a few hours of their posting to receive a reply from the landlord or agency. The listings for both rentals and homes for sale often mentioned their proximity to the Google or Apple bus stops. [more inside]
posted by liketitanic on Jan 31, 2013 - 143 comments

use value vs. exchange value

What Is Value? What Is Money? (via via) [more inside]
posted by kliuless on Sep 1, 2012 - 15 comments

the dawn of a Star Trek generation

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

mad as hell

Dylan Ratigan's Howard Beale Moment (via se) [more inside]
posted by kliuless on Jul 19, 2010 - 35 comments

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