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“The trigger for people becoming more aware of inequality was the crisis and the slowdown in real growth,” says Milanovic. “It wasn’t a topic on its own that came up just as people saw Bill Gates or Jeff Bezos being rich. It came as incomes hadn’t risen as they’d been ...Read More
“What Americans young and old are abandoning is not so much the promise of family, faith, and national pride, but the trust that America’s existing institutions can be relied on to provide for them.”
It is a big claim for an artist to suggest that their work is in anyway disconnected from money, or that they don’t think about the money. Even if they try to disconnect it, it is inevitable that art is dependant on its place in the market, such informing their ...Read More
An optimistic view on where we are headed as exemplified by local sharing and barter economies popping up in Greece.
"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."
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
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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.
The characteristic of the shift over the past half-century is that of a structural change that despite provoking a series of crises, has not been effectively addressed. The result has been a widespread increase in inequality, interlinked with stagnation or even a decrease of purchasing power and living standards for ...Read More
“5 million New Yorkers have no rent protection at all. Over half of low-income tenants in the state are currently paying more than 50 percent of their income in rent.” Wild to see this article merely two weeks after I left NYC and set my sights on places like Portland ...Read More
“At the end of the 19th century, American economist and sociologist Thorstein Veblen said that people take their cues about what to consume from the social class immediately above their own. They want things just beyond their reach.”
Canadians are often charged super high international transfer fees to send money back home to family members (these small direct cash transfers have been proven to have more benefits than foreign aid) Blockchain offers a breakthrough alternative
Why we can have nice things. Long read about the difficulty of central planning and shortcomings of markets.