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An optimistic view on where we are headed as exemplified by local sharing and barter economies popping up in Greece.
Slavery, the argument goes, was an inefficient system. The use of enslaved labor has been presented as premodern, a practice that had no ties to the capitalism that allowed America to become a leading global economy. This is untrue. Slavery, particularly the cotton slavery that existed from the end of (People who applaud the achievements of economic growth tend to omit the fact it was achieved off the back of exploitation like this) ...Read More
"Schumacher's emphasis on what he called "intermediate technology" (neither basic nor large-scale) as the solution to many of the world's problems… "A crank", he said, "is a piece of simple technology that creates revolutions". Nice."
When Gordon Moore first projected the growth of “components per integrated function”, he put the doubling period at just about one year. This leads to expectations that this growth can be matched in other sectors of the economy… a category error based on a misunderstanding of fundamental biophysical realities. Modern (For those who haven't read it, Aaron Bastani's Fully Automated Luxury Communism pretty much depends on the idea that we can get exponential growth Moore's Law style across a bunch of sectors in order to achieve post-work, post-scarcity society before the planet implodes.) ...Read More
This is not a case of a company with a reasonably sound operating business that has managed to inflate stock market expectations a bit. This is a case of a massive valuation that has no relationship to any economic fundamentals. But Uber's narratives convinced most people in the media, invest­ment, ...Read More
Originally, customers were told to continue paying their debt, Reuters reported, but the company confirmed Friday to USA TODAY the debt was now cancelled. "Chase made the decision to exit the Canadian credit card market. As part of that exit, all credit card accounts were closed on or before March 2018. A further business decision has been made to forgive all outstanding balances in order to complete the exit," Maria Martinez, vice president of ...Read More
Neoclassical economics has so deeply entrenched the notion that markets are better than all other ways of organising life, that decisions escape rational scrutiny. All models use a few simplifying assumptions, but those underpinning mainstream economics more often distort and detach from reality. That’s why new groups are emerging to ...Read More
"Is it culture or economics? That question frames much of the debate about contemporary populism. Are Donald Trump’s presidency, Brexit and the rise of right-wing nativist political parties in continental Europe the consequence of a deepening rift in values between social conservatives and social liberals, with the former having thrown their support behind xenophobic, ethno-nationalist, authoritarian politicians? ...Read More
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Is Andrew Yang's $1,000/month "Freedom Dividend" enough to jump start trickle up economics? "The idea mimics a form of social security that guarantees a certain amount of money for every citizen but without work requirements or other tests. He says it aims to shield Americans from the pain brought about by the technical revolution that is replacing human jobs via automation. He proposes ...Read More
Yang’s UBI intends to replace most safety net programs like welfare etc. it’s why libertarian bros like it. People who think equity is unfair can only understand ‘every person gets same same, equality yes’ Still, I think on its own UBI is super great, just shouldn’t be an excuse to dismantle existing support structures.
A very clear and concise argument for the other-than-human and the many worlds... “Could understandings of multiple agencies and more-than-human entanglements and kinships challenge a dominant mode of worlding—what Isabelle Stengers calls ‘a hegemonic machine’ that reduces nature to a resource ?” ...Read More
"This market-driven 'sustainable' vision of economic activity, ecological-conscious diets and 'hipness' within modern capitalism reinforce inequality and still hurt the environment."
"Of Strings and Kings is a set of musical compositions written for strings and machine learning algorithms. The AI duet accompaniment to the essay will serve as an aesthetic counterpart corresponding to the subjects of each chapter."