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cote : economics   53

Airplane Maintenance is Offshored
“I don’t worry much about where maintenance occurs. Indeed, if maintenance can be done for less we ought to buy more, so less expensive can mean safer.... Rather than fearing the offshoring of airplane maintenance we ought to ask how we can expand the concept. Medical tourism, for example, is growing. If foreign airplane maintenance is good enough for Delta then foreign human maintenance is good enough for me.”
offshoring  health  healthinsurance  economics  airplanes 
august 2018 by cote
Why Mexico has not become more prosperous—and how it could
“In other words, workers end up in jobs where they are less productive than they might be. Too many individuals who should be workers become entrepreneurs or are self-employed. Efficient businesses are taxed and penalised, while subsidies help sustain unproductive ones. Joseph Schumpeter’s notion of “creative destruction”, in which capitalist competition drives out weaker firms and rewards stronger ones, is paralleled in Mexico by “destructive creation”, quips Mr Levy, in which the environment favours the entry and survival of weak businesses that hinder the growth of stronger ones.”

I don’t understand any of the economic jibber-jabber in there, but I like a food “big systems and complicated” story.
policy  economics  mexico 
july 2018 by cote
US wages have been flat, despite growing economy
“The conundrum of stuck wages [for “non-managerial workers”?] has vexed economists for more than a decade, but their underlying assumption had been that as joblessness drops — it's at 4% now — companies will be forced to push up wages to attract and retain workers. Now that that hasn't happened, the feeling is beginning to creep in that this is the new normal.”
economics  usa  pay  work 
july 2018 by cote
Investors Gave Snap a Gift
'You might point out that you own a share in the company that grows in value as the company does, and that right now you can sell that share on the stock exchange for $13.31. But that evades rather than answering the question: What does the person who buys the share from you expect to get from it? The value of a stock in the market is supposed to be equal to the present value of its future cash flows, and there’s nothing about the stock itself that promises you any cash flows. Or you might say that Snap’s directors and officers have a fiduciary duty to you to  maximize the profits of the company and the value of your shares, but even if that were true—it’s pretty debatable—it continues to avoid the question. If Snap made massive consistent profits for decades, it would still never have to give any money back to shareholders, and the shareholders would have no way to force it to. “I own a 1/1,258,171,112 share of a massive pile of cash,” you could say, but you could never spend it.'
wallstreet  snap  papers  economics 
july 2018 by cote
Adam Smith, Misanthrope
‘The feminist writer Katrine Marcal recently wrote a critique of modern economics under the title “Who Cooked Adam Smith’s Dinner?” A fair question; for most of Smith’s life the answer was his mother, who predeceased him by only six years.’
economics  quotes  johnadams 
may 2018 by cote
What Trump's Fight with Amazon Signals for American Business
“All nations, of course, suffer some degree of corruption. Mathurin told me a simple test to determine if a country’s corruption level is at risk of reaching a point of state capture: just see if there is a class of entrepreneurs and small-business people with enough confidence in the government and the infrastructure to invest in businesses that can only succeed in a market that allows for the unconnected to thrive, based on their merit. In another chat a few years ago, this time in a crowded deli in New York City, Mathurin pointed out the window at the many shops nearby as proof that this country, for its many flaws, has not been captured. Without even thinking about it, those store owners trusted that their venders and bankers and electricity provider would honor their contracts, that the roads and the phone service would be reliable enough to allow businesses to function, and that, every few years, the turnover of leadership, in either the city or the nation, would not have any dramatic impact on their ability to conduct business.”
economics  corruption  business  trump 
april 2018 by cote
Trump’s Tariff Plan Leaves Blue-Collar Winners and Losers
“The mills and smelters that supply the raw material, and that would directly benefit from the tariffs, have been shrinking for years. Today, those industries employ fewer than 200,000 people. The companies that buy steel and aluminum, to make everything from trucks to chicken coops, employ more than 6.5 million workers, according to a Heritage Foundation analysis of Commerce Department data.”

Trade is hard.
politics  trade  economics  jobs  manufactoring 
march 2018 by cote
Federal Reserve chair says ‘Amazon effect’ could be responsible for low inflation
‘The “Amazon effect” refers to the decline in traditional retail employment despite expansion in the overall retail sector. That paradox is occurring because of the explosion of online retail, driven in part by Amazon. As online shopping becomes more efficient and widely-used, fewer traditional retail workers are needed. The Amazon theory purports that lower demand for retail labor keeps wages low and holds down the price of consumer goods. But economists are split on the extent to which this phenomenon actually impacts inflation.’
automation  jobs  economics  retail  amazon 
march 2018 by cote
Why isn't digital fixing the productivity puzzle?
"In addition, stagnant wages had implications for limiting demand growth. In our sector analysis, we found weak demand dampened productivity growth through other channels than investment, such as economies of scale and a subsector mix shift.”
charts  mckinsey  economics  digitaltransformation 
february 2018 by cote
The great experiment
I don’t really understand much of this, as usual, but it’s one of the rare economic pieces that I feel like I kinda get.
economy  numbers  economics 
february 2018 by cote
Left in the lurchGlobalisation has marginalised many regions in the rich world
Between 1990 and 2010 the rate of economic convergence across American states slowed to less than half what it had been between 1880 and 1980. It has since fallen close to zero. Rich cities started pulling away from less well-off counterparts (see chart 1). According to the Brookings Institution, a think-tank, in the decade to 2015 productivity growth in American metropolitan areas was highest in the top 10% and the bottom 20% (where, by definition, the baseline was low). Struggling middle-income cities like Scranton fell further behind. A recent report by the OECD found that, in its mostly-rich members, the average productivity gap between the most productive 10% of regions and the bottom 75% widened by nearly 60% over the past 20 years.
Numbers  economics  studies  links  via:Workflow 
october 2017 by cote
Donald Trump lost most of the American economy in this election - The Washington Post
"The divide is economic, and it is massive. According to the Brookings analysis, the less-than-500 counties that Clinton won nationwide combined to generate 64 percent of America's economic activity in 2015. The more-than-2,600 counties that Trump won combined to generate 36 percent of the country's economic activity last year."
economics  Trump  us 
november 2016 by cote – brucesterling: *American Oligarchy
brucesterling: *American Oligarchy - April 26, 2015 at 06:22PM
IFTTT  Tumblr  charts  class  economics  USA 
april 2015 by cote
Veblen good - Wikipedia, the free encyclopedia
In economics, a Veblen good is a member of a group of commodities whose demand is proportional to their price; an apparent contradiction of the law of demand. A Veblen good is often also a positional good.
via:ifttt  from:tumblr  words  economics  luxery  link  tumblr:link 
september 2014 by cote
"Unsurprisingly, most of the world runs on oil." Also, see if you can find the Crawfish spots. See the rest.
pics  maps  GDP  economics  oil  via:ifttt  from:tumblr  tumblr:photo  photo 
may 2014 by cote
The rich got a lot richer since the financial crisis - The Term Sheet: Fortune's deals blogTerm Sheet
From 2009 to 2012, the top 1% incomes grew by 31.4% while the bottom 99% incomes grew a mere 0.4%, according to an updated study by University of California Berkeley economists Emmanuel Saez and Thomas Piketty. That means the top 1% took more than one-fifth of the income earned by Americans — one of the highest levels since 1913 when the modern federal income tax started, the economists note. More than that, the top 1% incomes are close to full recovery while the bottom 99% incomes have barely started to recover.
via:ifttt  from:tumblr  numbers  1%  usa  economics  wages  link  tumblr:link 
september 2013 by cote
John Kay - Sometimes, a spot of collusion can be a very good thing
Once, market forces and the power of brands and reputation provided reassurance. Many businesses took a long-term view and valued their customers’ loyalty. But a more opportunistic outlook on the part of big companies means that, in many markets, reputations have fallen so low that consumers expect nothing and get little. All the petty frauds I have described were perpetrated by well known companies. In these circumstances, competition is no longer the answer to the problem of tariff complexity but a means of spreading the practice of petty fraud. The company that offers a fair price loses business to the company that provides the misleading tariff.
via:ifttt  from:tumblr  economics  consumers  pricing  marketing  link  tumblr:link 
september 2013 by cote
Coté • If you could in the 1960s buy five cars for the...
If you could in the 1960s buy five cars for the price of one computer and in the 1990s [buy] twenty computers for the price of one car, it is difficult to gauge the relative worth of goods.
inflation  economics  pricing  via:ifttt  from:tumblr  quote  tumblr:quote 
august 2013 by cote
Dubai: Bling City is dead, but the desert dream lives on
"The strategy worked until the credit crisis – prompted by a collapse in property prices – threw a spanner in the works of the global financial system. No one wanted to lend any more to Dubai's property-obsessed economy. No one wanted to buy the "iconic high-rise waterside lifestyle developments" that were planned for the bone-dry desert."
dubai  crator  middleeast  economics  debt 
november 2009 by cote
Software Abundance in a Downturn
"The bottom line is that there is plenty and not enough software and software developers to go around. Software is abundant, but not always the right software, or if it is right, it takes effort to make it righter. Similarly, being abundant doesn’t mean that the software that is going to get your company out of the recession is going to be cheap."
TonyBaer  software  business  economics 
july 2009 by cote
Fool’s Gold - LSE Public Lectures and Events - LSE
"Gillian Tett takes us inside the shadowy world of complex finance and derivatives and explains how the business of slicing and dicing debt led us to the devastating global credit crunch."
via:PaulKedrosky  books  economics  FT  TheCrater 
may 2009 by cote
Global Guerrillas: THE SYSTEMPUNKT
"Within a market, an attack on the systempunkt destabilizes the psychology of the market to induce severe inefficiencies and uncertainties. The ultimate objective of this activity, in aggregate, is the collapse of the target state and globalization."
words  marketing  insurgency  war  economics  globo  terrorism 
march 2008 by cote
What Was I Thinking?
"Our irrational behaviors are neither random nor senseless—they are systematic. We all make the same types of mistakes over and over."
books  economics  psychology 
february 2008 by cote
Consumer-Driven Culture Is Killing Our Democracy
"Corporate social responsibility is a nice idea, but corporations will not be socially responsible, if by socially responsible we are suggesting that they sacrifice consumer deals and investor returns. They won't."
books  via:theconsumerist  captalism  economics  csr 
december 2007 by cote
Podcast about every day economics. Looks nifty.
via:afongen  economics  podcasts  money 
april 2007 by cote
S.E.C. Changes Reporting Rule on Bosses’ Pay
Cynical headline: "shareholder and employee fleecing can now be amortized!"
fleecing  economics  scandal  execs  pay  work  sec  nytims 
december 2006 by cote
Dow Hits New High as Sales of New Homes Pick Up - New York Times
While sales are still -15% from last year, they rose 3.4% in Nov.
nytimes  housing  economics  usa  middleclass 
december 2006 by cote
East Austin homestead-preservation district still isn't a reality
As the previously low-income (is it non-PC to say "poor"?) part of Austin becomes more desirable, the city looks to protect the current residents and eat the cake too.
austin  cityplanning  realestate  economics 
november 2006 by cote
New Baffler coming soon! ACT NOW!!!!
There's a new Baffler issue coming out. Make sure to update your address or subscribe to it now. The Baffler is awesome.
thebaffler  magazine  economics  politics  subscriptions  4stars 
november 2006 by cote
Housing boom over in 28 states
"The decline, which pushed the index down seven points to 32, was blamed on growing unease among builders about record levels of unsold new and existing homes and increased cancellations of contracts for new homes. It was the seventh consecutive drop."
economics  housing  numbers 
august 2006 by cote
LENIN'S TOMB: Warnings from America.
More on the results of short-term greed induced social thinking and planning. If history repeats itself, we're in for a massive Hispanic up-rising. Time to learn Spanish, amigo.
class  greed  usa  politics  economics  via:JamesGovernor 
june 2006 by cote
The Enron model of irresponsible capitalism
"The American economy cannot expect to prosper indefinitely without actually manufacturing or creating anything itself, other than investment value. The obvious eventual result of outsourcing production is the export of America's industry."
economics  politics  globo  usa  via:ceperez 
june 2006 by cote
The Cram-Down Decade
Ya'll know I eat this kind of stuff up: "corporate America has been systematically setting up its employees for United Airlines-like cram downs."
work  cramdown  money  economics  usa  retirement 
may 2005 by cote
Welcome to Post-Autistic Economics Network
Where have I read about this? In Harper's?
economics  pae 
may 2005 by cote

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