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Economics
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“[T]he basic principle of M.M.T. is seductively simple: governments don’t have to budget like households, worrying about debt, because, unlike households, they can simply print their own money. So M.M.T. proposes that the constraint on government spending shouldn’t be debt but inflation: How much new money can you pump into ...Read More
“Economies have been imagined in macho terms of machines, control, and the aggressive pursuit of growth for so long that it can be difficult to think otherwise. Emotions, care, and interdependence have been imagined as only belonging to a more feminine sphere, so pointing out their relevance for commerce risks ...Read More
"MLS theory makes it crystal clear that unless competition is appropriately structured and refereed, it can do a lot more harm than good."
“To put it bluntly: QTM is obviously wrong. Doubling the amount of gold in a country will have no effect on the price of cheese if you give all the gold to rich people and they just bury it in their yards, or use it to make gold-plated submarines (this ...Read More
V good long read on efforts to make the case for “an economy that suits society, rather than – as we have at present – a society subordinated to the economy.” #economics
"Our reading of this special issue of the Journal of Industrial Ecology, leads us to conclude that there are two major gaps in the Circular Economy’s relevance for achieving global sustainability. It has not developed language or methods, or necessarily acknowledgement, of the need to shrink and slow material throughput… ...Read More
“According to the company’s proxy statement, the median employee was a part-time restaurant crew worker... who made $7,017. The ratio was 3,101 to 1. In other words, it would take that employee 3,101 years to match Easterbrook’s 2017 compensation... Even keeping qualifiers in mind, the disparities are massive. And in the U.S., almost 52% of fast food workers are on public assistance. They can’t make enough money to live on. Many thousands of workers are at the poverty line while CEOs are wealthy. It’s effectively a subsidy from government ...Read More