#Economics
Elon Musk has said:
In a few weeks, X/Twitter will start paying creators for ads served in their replies. First block payment totals $5M.
Note, the creator must be verified and only ads served to verified users count.
In April, it was also reported that 25% of college graduates weren't able to make more compared to a typical high school graduate.
Read more: https://unusualwhales.com/news/over-half-of-americans-dont
While the Federal Reserve began to raise interest rates last year, 30-year fixed mortgage loans reached over 7% from just around 3%.
I don't think it's a matter of #optimistic vs. #pessimistic. It's that the #engineering, #infrastructure, #economics, #population, population #density, and #remoteness of #France are utterly #unlike what they are here in the #prairies.
2 years? Not possible here. If we wanted to replace 80% of ICE vehicles with BEVs, we need major electrical #generation and #transmission upgrades. I'm #guesstimating it it started today, it would take 20 years.
US has bought 3 million barrels for its oil stockpile, and has announced a plan for 3 million more
Unintuitive results of interest rate increases on house building:
#economics
RT https://twitter.com/buccocapital/status/1667177312515764232
Trump has been indicted for 37 counts.
If found guilty, per ABC. there are numerous sentencing possibilities.
Minimum sentence: No minimum
Maximum sentence: 400 years in prison
Here is a full list of the counts he is charged with, per ABC:
US Federal government agencies are now prohibited from buying ads on TikTok, per the Information. https://twitter.com/i/web/status/1667269615179956230
Tesla, $TSLA, short sells are down $6 billion since $TSLA 11 day rally.
Cryptocurrency exchange Crypto .com has said that it will wind down its institutional service for American clients on June 21.
The Eurozone has entered a recession.
In the first three months of the year, economic output in the Eurozone dropped 0.1% compared with the previous quarter, according to revised data per Reuters.
Donald Trump took secret documents dealing with US nuclear and weapons programs from the White House after leaving office, per ABC.
Saudi crown prince threatened ‘major’ economic pain on U.S. amid oil feud, per WaPo.
Target, $TGT, foot traffic has reportedly decreased dramatically, per Carl Quintanilla:
This post includes 12 recently
published examples of papers that summarize their results in the introduction, from top #sociology (qualitative and quantitative) and #economics journals. Try it! https://familyinequality.wordpress.com/2023/06/09/best-practice-alert-summarize-your-results-before-the-literature-review/
$UBER to launch Uber Carshare in Boston, Toronto, which lets people rent their own cars for cash
#UCL: Understanding #Neoliberalism as a System of Power:
BREAKING: Trump indictment unsealed.
See the full indictment here: https://unusualwhales.com/news/trump-indictement-unsealed
BREAKING: Trump indictment unsealed, with charges including conspiracy, obstruction, false statement charges.
Crypto exchange Kraken officially rolls out new NFT marketplace
@Dtraslerwriting @ernie
I think there are some mechanics in #economics with predictable effects, but those in power don’t like those outcomes
Like falling stock prices tend to mean wages are going up
So we don’t get a “good” outcomes for most people, because most people aren’t in charge
Las Vegas share of homes purchased without a mortgage (all cash) in May, per Nick Timiraos:
2023: 22%
2022: 34%
2013: 60%
BREAKING: The 2011 hackers of more than 600K bitcoin from the Mt. Gox exchange have been identified as two Russians, according to a DOJ indictment.
40% of Gen Z investors in the US, Canada, and UK cited the fear of missing out as a major influence in their decision to start investing, per BI.
That climbs to 60% of Gen Z in China who started investing because of FOMO.
Bank of America, $BAC, says it is bullish on stocks, per CNBC.
Americans looking for a new home are facing the least affordable market ever, according to data from the Mortgage Bankers Association.
U.S. Pentagon has announced a new $2 billion air defense package for Ukraine
"De-dollarization is evident in FX reserves where USD share has declined to a record as share in exports declined, but is still emerging in commodities," JPMorgan said.
Epstein accuser seeks new testimony from JPMorgan, $JPM, CEO Jamie Dimon
The market is having its best performance on Fridays of any year since 1953. As of last week, the S&P has averaged a gain of 0.42% on Fridays this year, per Bespoke.
In trying to meet financial goals, over 80% of American Gen Z started investing before the age of 21, per BI.
Manufacturing now accounts for about 13% of all non-government construction, the highest share on record in a data series stretching back to the early 1990s, per Bloomberg:
Customers are being asked to tip even at self check-out, per BI.
Interested in learning about foundations of #machinelearning & how ML might be useful in #economics?
Consider our summer school at @OxfordEconDept, where I will discuss topics such as deep learning, adaptive experiments, and the social impact of AI.
BREAKING: Robinhood, $HOOD, ends trading for tokens cardano, $ADA, polygon, $MATIC, and solana, $SOL, per Blockworks
56% of Americans think earning a four-year degree is a waste of time, per WSJ.
Book Review: The Controversial Secret of Lying Flat
Or maybe we should title this: "How to adjust to the new economy"
Investors withdrew a net $18.84 billion from global equity funds, the largest weekly net selling since March 15, per Reuters.
UBS has signed an agreement with the Swiss government to cover up to $10 billion in losses from its emergency takeover of Credit Suisse, per Reuters.
WikiLeaks' founder Julian Assange has lost his latest attempt to fight extradition from Britain to the United States, per Reuters.
"On election day in 2019 I received a call from Mark Carney, the governor of the Bank of England, who in the normal course of events I had met regularly as shadow chancellor and had established a helpful working relationship. The call was to reassure me that the Bank, with its resources, stood ready for whatever the outcome the election would produce"
John McDonnell skewers Rachel Reeves woeful rowing back on Labour's £28bn #GreenProsperityPlan.
Ah, found it at long last...
The poor have been rebels but they never have been anarchists; they have more interest than anyone else in there being some decent government; the poor man really has a stake in the country. The rich man hasn't; he can go away to New Guinea in a yacht. The poor have sometimes objected to being governed badly; the rich have always objected to being governed at all. – G. K. #Chesterton
"""
As Ely Devons famously quipped, "If economists wished to study the horse, they wouldn’t go and look at horses. They’d sit in their studies and say to themselves, ‘What would I do if I were a horse?’"
In the pre-economicist age, economists focused on "history and the dynamics of change." (...) These economists were seduced by "beauty, clad in impressive-looking mathematics," which they "mistook for truth," in the words of Paul Krugman.
"""
https://pluralistic.net/2022/10/27/economism/#what-would-i-do-if-i-were-a-horse
#Care for humans and the #environment should be at the centre of a political vision for #degrowth. How can we put socially necessary work - including #CareWork, #reproductive work and social reproduction - at the front and center of degrowth #politics?
Tune in on 13 June at 1 PM CEST for the third seminar in our Online Degrowth Seminar Series, to learn about "Caring for future: #feminist perspectives on degrowth", with Dr. Corinna Dengler (Vienna University of Economics and Business).
The talk will be followed by a half-hour open Q&A and discussion with the audience.
Registration: https://ucph-ku.zoom.us/meeting/register/u5Ykf-utrTMjHNZePmsYuIlb1hlLQkjceBBV#/registration
#GenderEquality #Decroissance #AlternativeEconomics #Feminism #Ecology #SocialJustice #Economics #socioecological
"Most of the models that economists currently use ignore the role of market power in today’s economy. And in the gizzards of the models are a variety of other assumptions that affect how the consequences of any policy are calculated, including the macroeconomic consequences that determine the size of the pie and the nature of the trade-offs."
https://prospect.org/economy/2023-04-03-how-models-get-economy-wrong/
Chinese State-Owned Banks Cut Dollar Deposit Rates — Dismiss Government Influence Claims - Major Chinese state-owned banks have lowered interest rates on U.S. dollar deposit... - https://news.bitcoin.com/chinese-state-owned-banks-cut-dollar-deposit-rates-dismiss-government-influence-claims/ #federalreserveratehikes #chinesebanksdollars #u.s.dollardeposits #chinesebanks #yuandeposits #economics #china
Our latest #InvaCost paper now out:
'Unveiling the hidden economic toll of biological invasions in the European Union'
https://enveurope.springeropen.com/articles/10.1186/s12302-023-00750-3
#invacost #invasivespecies #biologicalinvasions #EU #economics
Just started reading Kate Raworth's book, "Doughnut Economics: Seven Ways to Think Like a 21st-Century Economist" to learn more about economic models that AREN'T based on unsustainable growth – and was surprised to discover that the City of Nanaimo (on Vancouver Island here in BC) has officially based its official community plan on the model of Doughnut Economics.
Go Nanaimo!!
-------
#DoughnutEconomics #economics #sustainability #nanaimo #BritishColumbia #future
Modi govt intelligence shines when it says ₹2K will be out of circulation soon but expects business to value that note.
US District Judge Michael Fitzgerald: “Defendants do not offer a single benefit of allowing celebrities to endorse unvetted products without disclosing that they are being paid to do so.”
Kim was charged by the SEC last year.
Link: https://unusualwhales.com/news/emax https://twitter.com/i/web/status/1666941299851939840
The Real Reason Companies Have Become Obsessed With Your Data - How Money Works
Online companies seem to be obessed with gathering as much user data as possible. What is the real reason they are collecting so much data and is it worth it?
And the complexity is really unacceptable. “Comprehensive” only applies to *some* things—or something? “Collision” versus “limited collision”? And it’s unclear when you have to pay a deductible b4 coverage kicks in—to name just a few complexities.
I hope the myth of a free market is destroyed sooner than later.
#economics #mapoli #transportation #warOnCars
We’ve gotta imagine something outside this box. #degrowth
Eurozone Officially In Recession.
Euro area annual inflation is expected to be 6.1 % in May 2023.
Down from 7.0 % in April 2023.
Wired: Marc Andreessen Is (Mostly) Wrong This Time https://www.wired.com/story/artificial-intelligence-marc-andreessen-labor-politics/ #Tech #wired #TechNews #IT #Technology via @morganeogerbc #artificialintelligence #disinformation #SiliconValley #economics #politics #ethics #Ideas #Labor
Fossil Fuel Economics
The #economics of #fossilfuel production will determine the fate of #oilandgas. Come explore with us. https://albertabeyondfossilfuels.ca/fossil-fuel-economics/?utm_source=dlvr.it&utm_medium=mastodon
Great! ❤️💕👌
The Atlas of #Economic Complexity - Harvard Growth Lab’s research and data visualization tool used to understand the #economics dynamics and new growth opportunities for every country worldwide https://atlas.cid.harvard.edu/ #dataviz
Economists often summarize their findings in the last paragraph of the introduction to their papers. Sort of a tell in reviewing papers. Do any sociologists do this? Should they?
#academia #sociology #economics
From 08 Jun: Years of rising operating profits and cash reserves did not translate to greater charity care across the nation’s nonprofit hospitals, according to a study published this week in Health Affairs - https://www.fiercehealthcare.com/providers/nonprofits-hospitals-charity-care-shrank-operating-incomes-cash-reserves-grew-study #healthcare #charity #economics #greed
From 08 Jun: Top Insurance CEOs Took Home 35 Million Last Year, Fueled by Stock Buybacks - Fresh outrage over the pay of insurance industry CEOs comes amid a renewed Medicare for All push in Congress. - https://truthout.org/articles/top-insurance-ceos-took-home-335-million-last-year-fueled-by-stock-buybacks/ #healthcare #economics #greed #medicare
It really is corporate profits driving inflation. Even the OECD says so. https://australiainstitute.org.au/post/oecd-confirms-that-inflation-has-been-mostly-driven-by-corporate-profits/
How 19th century USA copied tech from UK and Europe
https://www.history.com/news/industrial-revolution-spies-europe
#patents #ip #economics #history
#Ocean and #Economics: The ocean is a critical part of the climate change solution, and provides innumerable benefits to society. It is rich in life-sustaining resources, regulates our climate—soaking up 90% of human-made greenhouse-gas emissions—and contributes trillions to the global economy. (2/5)
https://impact.economist.com/ocean/ocean-and-climate/infographic-oceans-for-good
BREAKING: Kim Kardashian, Floyd Mayweather and Paul Pierce are not allowed to throw out the case that they deceptively promoted now-defunct cryptocurrency, EthereumMax, per Reuters.
Google, $GOOGL, and $META are using 'bullying tactics' against Canada news bill, Canadian PM Trudeau has said regarding proposed legislation is designed to compel internet giants like Google and Meta's Facebook to negotiate commercial deals and pay publishers for their content.
"To proponents of green growth, new innovations such as electric cars will help “decouple” growth from carbon emissions and allow humans to live a life of plenty within the limits of the planet.
That’s the theory, at least. But there is little evidence that this will be possible on the timescale required. Global carbon emissions have risen to their highest levels in history."
#greenGrowth #degrowth #Doughnut #Economics #climateChange #climateCrisis
‘De-Dollarization Emerging’ but Greenback Will Retain Its Dominance — JP Morgan Strategists - Two JP Morgan strategists have said the U.S. dollar will retain its dominant posit... - https://news.bitcoin.com/de-dollarization-emerging-but-greenback-will-retain-its-dominance-jp-morgan-strategists/ #societyforworldwideinterbankfinancialtelecommunication(swift) #octaviapopescu #meerachandan #economics #jpmorgan #brics #cny
An interesting long read on Kate Raworth, the post-growth economist who coined the term doughnut economics.
the wealthiest make the decisions about where society should apply its resources. That is literally what "capitalism" means. The wealthy (capital) decide where investment goes, instead of government ("We the People"). So those investments are make to benefit the wealthy instead of We the People.
Democracy "We the People") should decide how we run our economies, and where we invest.
"Marxism" (Marx's analysis of how the 19th-century economy worked) and socialism just say regular people should have more control over society's economic priorities, in order for regular people to receive the benefits of society's economic priorities.
That's really all it says.
Currently ... /1
রাজ্য ও দেশের অর্থনীতির হাল হকিকত সহজ কথায় বোঝাচ্ছেন সৌভিক ঘোষ। আজ প্রথম পর্ব #economics
https://nagorik.net/economics/matter-of-daily-living-not-exotic-figures/
Ron Paul Warns Fiscal Responsibility Act Will Erode US Dollar Value, Hasten Loss of Reserve Currency Status - Former U.S. Representative Ron Paul has warned that the Fiscal Responsibility Act,... - https://news.bitcoin.com/ron-paul-warns-fiscal-responsibility-act-will-erode-us-dollar-value-hasten-loss-of-reserve-currency-status/ #reservecurrencystatus #ronpaulusdollar #ronpaulusd #economics #ronpaul
Bless Kat for making understanding this stuff so much easier.
By the numbers: Why did the Bank of Canada raise the interest rate?
https://www.tvo.org/article/by-the-numbers-why-did-the-bank-of-canada-raise-the-interest-rate #News #Finance #Economics
"Depending on how you measure it, about one in 10 people in Ontario live in poverty. Though not everyone knows what that, assumptions are sometimes made. Journalist Deborah Dundas, books editor at the Toronto Star, does know what that's like, having grown up in poverty. Her new book, 'On Class,' invites readers to learn why hearing the stories from those who live them can be transformative."
https://www.youtube.com/watch?v=tMzBnrOIkwY #OnPoli #Economics #Poverty
Just for the heck of it I'm letting people know that there is a site that explains Modern Monetary Theory (MMT) and has links to videos, people, everything that can be rounded up explaining MMT.
I helped put this together a few years back and it's still kept up. (Sort of.)
We CAN Have Nice Things! at https://wecanhavenicethings.com/
Deutschland ist wirklich Abgrundtief, was die Finanzierung von Unternehmen angeht... #economics #politics
https://www.faz.net/aktuell/karriere-hochschule/unternehmergespraech/chipindustrie-wack-gruppe-muss-um-foerderung-und-aufmerksamkeit-kaempfen-18941188.html
BREAKING: SEC chair Gensler has said on CNBC: we don’t need more digital currency
@juddlegum @skye ty for doing this investigation. I hope we adopt #degrowth #economics ASAP (like yesterday) and give these companies hell in the meantime
@FantasticalEconomics @jwcph @breadandcircuses
For what it's worth, I think JW is the one making the most coherent points here, by quite a large margin.
Whatever theoretical claim can be made about technology bettering things is dim when seen in context because it's really clear that markets love an externality, and so if someone bent on growth can say that it's possible that somehow that growth can be compensated for, then that compensation becomes the responsibility of someone else or the market. The problem is that unless people are held to account in that, the theoretical balance that Kyle is claiming has about zero chance of happening. And we have far too little time to be waiting on such miracles.
In practical terms, which is all we can focus on in the extraordinarily limited time humanity has left on earth, it's more correct to say that the theoretical options Kyle sees are just smokescreen that will enable continued ills. Maybe your intent is better, Kyle, but if so it's blinding to to a practical effect that is likely VERY negative.
The problem is simple: We have an addiction to growth. We are practiced at it. We enjoy it. We have developed habits around it. But it is killing us. None of that will be fixed by creating theoretical discussions about how there's a world in which reform is not necessary. There might be such a world. But if we are not making plans to get there, taking steps aggressively that get us there within our window of healthy life, then the theoretical case is irrelevant. We're addicts who have rationalized not quitting.
But also, with every crank of the winch, creating more reliance on tech, we also create potential energy waiting to snap if something goes wrong, something slips, and the system unwinds. If an acre of land can support 10 people but we find tech to have it support 100, that's great but if that acre of land is lost to a storm, let's say, then 100 people will starve, not 10. Every time we rely on tech to help us live past capacity, we up the stakes that way. They noticed a similar thing in airplanes as they figured out how to pack them tighter and tighter: when a crash happens, more die.
So I decided at some point that the test of carrying capacity of the planet is not the steady state on a good day kind of measure, but rather the ability of that system to withstand crashes, the temporary unavailability of parts of it, etc. We are not prepared for disaster. Shareholder capitalism treats robustness and sustainability as economic inefficiencies to be removed because they generally don't show on the quarterly bottom line except as an expenditure with no benefit. It's hard to quantify a counterfactual.
We need metrics not of Gross Domestic Product but of Gross Domestic Sustainability, of getting ourselves to a system that is robust against the kinds of catastrophes that are potentially forseeable to encounter. Economic, political, and weather/climate. A company or product that does not measure up as highly sustainable and robust against potential problems should be taxed very heavily so that the state can make preparations in lieu, so that there is no way for a company to make money by shortcutting sustainability.
Presently the reason people like Trump so much is the sugar high he creates in businesses by allowing them to pretend to profit by eliminating safety and sustainability and other environmental "red tape" that he sees as superfluous. This serves a culture in which profits are regularly harvested from companies into private bank accounts that cannot be drawn back out of when we see what a horror these profiteers have left us. They are racing to suck all the value out of the world before it collapses.
For a brief parable on this, see my 2009 essay "Hollow Support". It's not about climate, but about how markets under shareholder capitalism like to invest and what the consequences of that are:
http://netsettlement.blogspot.com/2009/03/hollow-support.html
#Capitalism #ShareholderCapitalism #HollowSupport #Climate #Consumption #Growth #DeGrowth #Economics #Sustainability #Environment
🚨 One of the more important #ClimateEcon posts anywhere: Work for the White House OMB to help quantify the climate impact on the US budget
https://www.usajobs.gov/job/728754200
Position closes June 13th.
#climate #economics #job
The rise of ChatGPT could spark the Roaring 20's for the stock market, Ed Yardeni has said.
"In Capitalism and Freedom, published in 1962, Friedman [writes]: There is no systemic tendency towards monopolies as most of them only come into existence through state interference, and even in the case of ‘natural monopolies’ Friedman says, the best of many bad options is still to leave it be rather than try to regulate it or even transform it into a public monopoly."
Americans removed $472 billion out of their bank accounts in the first quarter of this year, an all time record since 1984, per the FDIC.
Oh, look! Oil is too cheap again.
> Saudi Arabia cuts oil output by 1 million barrels per day to boost sagging prices. https://www.politico.com/news/2023/06/04/saudi-arabia-cuts-oil-output-million-barrels-00100122
Might I also suggest Saudi Arabian authorities know USAians will blame their president (and not them) for higher gas prices? Because, as a country, we are stupid and do not understand #economics and global markets?
@jda @pluralistic 🤯 😠
> "The Healthcare Private Equity Association boasts that its members are poised to spend more than $3t to create "the future of healthcare."
^^^This is the area that causes most concern for me!
And our representatives are captured by monied interests, so I'm ***very*** skeptical we'll see effective regulation.
Our values are upside down so often.
Thank you so much for sharing.
Appendix: EcOnOmIcS!!1!!
If you have ever been told to "go learn some economics!", this post is for you. Here are links to a surplus of valuable thoughts on the subject, starting with the @blair_fix piece that was excerpted in the fifth post of this thread, in case you didn't read the whole thing then:
Can the World Get Along Without Natural Resources?
https://economicsfromthetopdown.com/2020/06/18/can-the-world-get-along-without-natural-resources/
Exponential Economist Meets Finite Physicist
https://dothemath.ucsd.edu/2012/04/economist-meets-physicist/
Free Market Genocides: The Real History of Trade
https://evonomics.com/free-market-genocide-the-real-history-of-trade/
GDP and the Idolatry of Growth
https://www.counterpunch.org/2023/05/25/gdp-and-the-idolatry-of-growth/
The Lie At The Heart Of Consumer Society
https://indica.medium.com/the-lie-at-the-heart-of-consumer-society-1a6fe24d832f
The problem with economic models
https://pluralistic.net/2023/04/03/all-models-are-wrong/#some-are-useful
David Graeber: What is the meaning of money?
https://theanarchistlibrary.org/library/david-graeber-note-worthy-what-is-the-meaning-of-money
The tyranny of nostalgia: demolishing the myth of Tory economic competence | One of the enduring myths of British politics is the notion of Conservative economic competence, a new book by Russell Jones shatters the illusion | John Cole
#TyranyOfNostalgia #Books #Economics https://yorkshirebylines.co.uk/politics/the-tyranny-of-nostalgia-demolishing-the-myth-of-tory-economic-competence/
Good analysis of the recent inflation by @DolanEcon https://www.niskanencenter.org/the-inflation-of-2021-22-was-different-what-we-should-learn-from-it/
First was a fantastic discussion on the BLS' May #jobs, wages, and unemployment report at the Burnes Center for Social Change with Seth Harris, Alicia Modestino, and @aaronsojourner. This is my go-to for interpretation of this monthly report, and as always the conversation did not disappoint. If you are interested in understanding the state of the labor market in the US, I highly recommend this conversation https://www.youtube.com/watch?v=WxQKDhI4y7k (2/6) #economics
2/2 The 1st #AI threat is the massive potential for job loss and the absolute denial by any government to deal with the fallout by creating #SocialSecurity structures such as Universal Basic Income to keep people going.
When people on the far left are joined by folks like #Bezos, #Gates and #Musk calling for #UBI to be implemented, it's obviously not an idealism issue, it's just that #politicians are terrified of even talking about it because it's hard to understand in #economics #science terms
1/2 General Purpose AI is a huge double #threat to #humanity, but people are only concentrating on the 2nd part of the threat, the #Singularity, which is something we won't be able to do anything about anyway because it's mostly in the hands of #BadActors who won't listen to #regulation at all.
We will likely be in a world where #NorthKorea will be the #AI equivalent of being a primary nuclear power, for example.
THE MYTH OF THE “SELF-MADE” PLUTOCRAT and its impact throughout US society, with some encouraging dispatches from places where other ideas, like mutual aid and cooperatives, are working. Well researched, wide-ranging reporting. B PLUS
https://www.harpercollins.com/products/bootstrapped-alissa-quart?variant=40517189599266
#book #Books #bookreview #bookreviews #nonfiction #history #economics #politics #journalism
"What economics?" asks what I imagine was a frustrated reader of the Atlantic Advocate (April 1915), Nova Scotia's first Black news magazine. #NovaScotia #economics #history
Source: https://archives.novascotia.ca/newspapers/archives/?ID=3496&Page=201412515
"First edition of one of the most influential and popular expositions of classical liberalism ever published." https://www.raptisrarebooks.com/product/the-road-to-serfdom-friedrich-a-hayek-first-edition-signed-1944-karl-popper/ #book #economics #philosophy #bookstodon @bookstodon @philosophy
Source: https://twitter.com/DavidDeutschOxf/status/1664341379525255174
You don't remember the Alamo.
In April 1832, the Mexican government closed a loophole allowing settlers to reclassify their human chattel as indentured servants. This finally outlawed slavery, full stop.
For Stephen Austin, this was the last straw. “Texas must be a slave country,” he wrote a friend, “circumstances and unavoidable necessity compels it.”
When you get reminded to sign your own sign-on letter.
It's about Circular #A4 & #A94, and yes, please do remember to indicate whether you are a past or current Treasury Secretary, Federal Reserve Bank President, and/or Nobel Laureate.
If you do want to sign (non-Nobel Laureates OK!), lemme know.
For more: https://gwagner.com/science-bca/
#climate #economics
Leeches rejoice.
And yes, there's a climate angle.
There's always a climate angle.
#DebtCeiling #economics #climate
https://www.cnn.com/2023/05/30/business/debt-ceiling-these-companies-are-winners/index.html
@JuliusGoat
This is their view of literally every employed human on the face of the Earth.
We just assumed they'd manage a more thorough job of displacing manual laborers before cracking creative pursuits.
The dream was that automating labor would free people to pursue what they enjoy. Turns out not when the owners of the automation hoard all the profits, and the efforts of non-owner-class now have increasingly diminished monetary value.
#AI
#Economics
#RentSeeking
ANALYSIS: How Britain’s Covid support for big business entrenched inequality.
We researched exec pay, shareholder dividends and wage gaps in firms that received public cash. Here’s what we found.
Last was the final day of the #NBER's megafirms and the economy event. As with yesterday, I highly recommend the event in its entirety, but I'll particularly call out the fascinating modeling of big #tech acquisitions and regulatory regimes by @luismbcabral and the impressive talk by Cristina Tello-Trillo on pay, productivity, and management https://www.youtube.com/watch?v=3owVTOcfA94 (7/7) #economics
Next was a wide-ranging talk by Raquel Ortega-Argilés on regional economic development at Alliance #Manchester Business School. Too often economists and policy makers look at country-level economic variables, and this talk gets into why that is problematic and how analyzing growth at the regional level can lead to more targeted development interventions https://lnkd.in/e2ThFez7 (5/7) #economics
JUST IN: JPMorgan, $JPM, CEO Jamie Dimon has said that he never met with Epstein, and never emailed him, per Reuters.
Letter in @sciencemagazine just out today: “US benefit-cost analysis requires revision”
Props to the White House Office of Management and Budget for revising 30-year-old guidance
https://gwagner.com/science-bca/
#climate #economics
@markigra Disciplines currently supported by the Find Academics on Mastodon (https://find.sciences.social/) tool:
#Anthropology
#Archaeology
#Atmospheric science and air quality
#Bioinformatics
#Communication and Media Studies
#Dendrochronology
#Earth Science
#Economics
#Education
#History and Philosophy of Science
#Islamic Studies/Middle Eastern Studies/Islamicate Studies/Oriental Studies
#Law
#Marketing and Consumer Research
#Nuclear Fusion
#Open Science
[more...]
FT lunch with Daron Acemoglu:
"Technological progress is the most important driver of human flourishing but what we tend to forget is that the progress is not automatic."
Recently I've been thinking about how #climateChange is going to affect the #economy. First measure I wanted to look at is #GDP.
🧵...
We are just greyhounds on the track, endlessly chasing a mechanical rabbit that we will never catch.
https://odonnellweb.com/pelican/the-gospel-of-consumption.html
#economics #consumerism #capitalism #government #advertising #marketing #labor
First was an interesting panel on the state of global economic governance at #LSE with Abraham Newman, Stephanie Rickard, Jamie Martin, and @mpaulsen. I did feel like this talk mostly ignored the Global South, but it was still quite informative https://www.youtube.com/watch?v=WofSDwOj2Nc&t=1s (2/11) #economics
Wow.
The former execs of failed banks Silicon Valley Bank and First Republic refused to commit to giving up their compensation when questioned about it.
They made millions as the banks collapsed, per Bloomberg.
@web3isgreat Decades past I openly considered doing this in a board game with some people I didn't know, just to demonstrate how messed up the rules were. (This was Supremacy, where you literally paid more to get the full rules.)
One guy got so angry that I might have taken the money and run - even though the rules of this very competitive game allowed it - that everyone missed the point, which was that the rules are messed up.
#TheRulesAreMessedUp #games #economics #web3 #capitalism #crypto
JUST IN: An FEC complaint has called for a federal probe of Senator Kyrsten Sinema's spending.
She spent more than $180,000 on luxury hotels, resorts & wine, dubbing them as "campaign expenditures."
This occurred, however, while Sinema was not actively campaigning.
Market prices of the riskiness of US debt have climbed, with credit default swaps on one-year US Treasury notes being at an all time high, per FT:
As boomers retired, workforce growth will plunge for decades, per BI:
BROKEN NEWS: The median cost of renting an apartment in Manhattan was $4,241 in April, an all time high.
Florida built as many housing units as the UK in 2021, despite having a population one third the size, per Joey Politano.
We are looking for:
'Postdoctoral Researcher on the Economics and Behavioural Economics of Digitalisation'
Deadline: 27 May.
Research topics: we're open-minded!
The @iHub & @Radboud_uni are a great place to work. And the Netherlands is a nice country to live.
@gregeganSF
Me: Working on a TTRPG setting satirising real world intergenerational wealth transfer problems through the assumption that a couple thousand years ago the crop of aristocrats decided undeath was the solution to "You can't take it with you when you go."
https://fantasyheartbreak.blogspot.com/2021/12/setting-tomb-world.html
#TTRPG #Undead #Economics #WealthDisparity #IntergenerationalWealth
@Vrimj
Thank you!
We need smart people to help rewrite these rules
The reason there are billionaires is because arbitrary tax laws made them that way, not because they work harder
We need to change the rules that created #ClimateChange and #billionaires and #homelessness and the #housingCrisis
When you lay it out so plainly, we can change words and readjust formulas
It doesn’t have to be this way, the world can be a better place
#economics