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German Banks Are Hoarding So Many Euros They Need More Vaults - Bloomberg
Gee, it seems that if you set negative interest rates banks and wealthy individuals will try to hold on to cash.
economics  banking  via:HackerNews 
13 days ago by mcherm
How Capitalism Broke Young Adulthood - The Atlantic
Bernie Sanders is offering young voters some of the socialism older voters already enjoy and claim is unamerican.
politics  economics  via:reddit 
19 days ago by mcherm
Would you give up Google for $17,000 a year? The Fed wants to know
Perhaps the current unexplained economic expansion is due to GDP failing to count the value of free internet services. Surveys of people rank search as the most valuable by FAR.
economics  google  search  via:reddit 
october 2019 by mcherm
The World Wastes Tons of Food. A Grocery ‘Happy Hour’ Is One Answer. - The New York Times
What a brilliant idea! Right before their expiration, put a huge discount on food and use it to bring in extra customers at that hour.
economics  business  via:HackerNews  nytimes 
september 2019 by mcherm
U.S. Economy: Personal Bad Behavior Isn't What Causes Poverty - Bloomberg
Bloomberg Opinion: "US conservatives say poverty is the fault of the poor for doing drugs, having kids out of wedlock, and not working hard. People in Japan do all these things, yet Japan has a high poverty rate."
economics  personal_net  via:reddit 
august 2019 by mcherm
We could fund the transition to green energy with 10-30% of the world's fossil fuel subsidy / Boing Boing
If we spent less than 1/3 of the world's fossil fuel subsidy as a green energy subsidy the green energy would be cheaper.
economics  environment  via:boingboing 
august 2019 by mcherm
Here's how the deficit performed under Republican and Democratic presidents, from Reagan to Trump | PolitiFact
"Reagan took the deficit from $70 billion to $175 billion. Bush 41 took it to $300 billion. Clinton got it to zero. Bush 43 took it from zero to $1.2 trillion. Obama halved it to $600 billion. Trump’s got it back to a trillion."
politics  economics 
august 2019 by mcherm
Book Review: Why Are The Prices So D*mn High? | Slate Star Codex
Book says: prices for education and health care rise because those need educated professionals but don't get more efficient with the advent of tech and stuff. It's not so clear that this is the right answer.
economics  SlateStarCodex  via:SlateStarCodex 
june 2019 by mcherm
US Workers Are Highly Taxed If You Count Premiums – People's Policy Project
If you count health insurance premiums as mandatory tax-like payments, then US workers pay a 43% tax rate: slightly less than the Netherlands, but more than Norway, Sweden, or France.
economics  healthcare  via:HackerNews  taxes 
april 2019 by mcherm
The $70,000-a-Year Minimum Wage - The New York Times
One company set a fixed pay of $70,000 for all employees. So far, they're surviving.
economics  nytimes  via:HackerNews  salary 
march 2019 by mcherm
No Tuition, but You Pay a Percentage of Your Income (if You Find a Job) - The New York Times
Apparently I'm not the only person to ever think of this. But using it for a 4-year college degree program is quite different from charging 17% of salary (if above $50,000/yr) for 2 years.
via:HackerNews  economics  startup  education 
january 2019 by mcherm
Harvard Study: "Gender Wage Gap" Explained Entirely by Work Choices of Men and Women - Foundation for Economic Education
At a bus company where ALL promotions were purely by seniority, there was a gender pay gap. It was 100% due to differences in working time and such.
sexism  economics  via:HackerNews 
december 2018 by mcherm
World GDP by country. - dataisbeautiful
Video showing the countries with the largest GDP, animated from 1960 to 2018.
datavisualization  via:reddit  economics 
december 2018 by mcherm
Not enough people are paying attention to this economic trend | Bill Gates
Gates: the basic supply-demand curve assumes that there's a cost to produce each unit. But this isn't true for software, marketing, and an ever-growing part of the economy.
BillGates  via:HackerNews  economics 
august 2018 by mcherm
Infographic: Visualizing the Most Valuable Companies of All-Time
The East India trade company was (this claims) 10X the size of Apple today.
via:reddit  history  economics  datavisualization 
december 2017 by mcherm
Contra Robinson On Public Food | Slate Star Codex
Capitalism, government, ALL systems have a failure mode where the forces of competition are more significant than the good intentions. The best solution is to "find a couple of elegant systems that all optimize along different criteria approximately aligned with human happiness, pit them off against each other in a structure of checks and balances, hope they screw up in different places, [...] keep enough individual free choice around that people can exit any system that gets too terrible, and let cultural evolution do the rest."
via:SlateStarCodex  ScottAlexander  philosophy  government  libertarian  economics 
november 2017 by mcherm
Myths of the 1 Percent: What Puts People at the Top - The New York Times
In the US, the top 1% make 20% of the income, up from 11% around 40 years ago. It is rising in every country (but US and Russia are by FAR the highest). Cause is not tech or international trade, but it relates to paying more for professionals like finance and insurance.
incomeinequality  nytimes  economics 
november 2017 by mcherm
Lyft’s Radical Experiment in Charging for Free Parking
Instead of offering parking, Lyft charged a rate (set by bidding) for parking and paid employees some money to cover it (or cover their alternate transportation). They liked it, but no one else was willing to give it a try.
economics  benefits  hiring  via:HackerNews 
august 2017 by mcherm
The Myth of the Barter Economy - The Atlantic
Economists say "before the invention of money, there was barter". But actually, anthropologists have some evidence that barter DOESN'T exist as a system. Non-monetary cultures use weirder and wilder systems.
anthropology  economics  TheAtlantic  via:HackerNews 
july 2017 by mcherm
Filing Taxes Could Be Free and Simple. But H&R Block and Intuit Are Still Lobbying Against It. - ProPublica
Tax filing could be free and easy, but companies that sell tax services lobby hard against it. This is an example of where there's not a zero-sum game, but nevertheless there will be losers.
politics  economics  via:HackerNews 
march 2017 by mcherm
Eight men own same as poorest half of world: Oxfam
This statistic is so extraordinary I'm not even sure I believe it.
basicincome  economics  via:reddit 
january 2017 by mcherm
5 Economics Terms We All Should Use - Bloomberg View
Noah Smith suggests 5 terms or ideas we should use: endogenous (might be cause or effect, not sure which), value of marginal item vs value of average item, present value (and discounting), conditional probability, and good for individual != good in aggregate.
words  economics  NoahSmith  via:boingboing 
january 2017 by mcherm
The UBI already exists for the 1% – Medium
The rich get money from investments without working for it. Perhaps it's not so harmful as some claim to receive an income without working for it.
basicincome  economics  via:reddit 
january 2017 by mcherm
These Charts Show Why Minimum Wage Hikes Really Work - CityLab
Actual statistics showing that raising the minimum wage tends to increase salaries without decreasing employment.
statistics  economics  politics 
december 2016 by mcherm
What If We Can't Make Government Smaller? - Niskanen Center
What should conservatives do if the observation that richer countries want more government services turns out to be unavoidable.
economics  via:reddit 
october 2016 by mcherm
Reverse Voxsplaining: Brand-Name Drugs | Slate Star Codex
Interesting analysis making the case against price controls for name brand drugs.
economics  ScottAlexander  via:SlateStarCodex 
september 2016 by mcherm
What Bad Students Know that Good Economists Don't, Bryan Caplan | EconLog | Library of Economics and Liberty
If you're not a good student then the chance of flunking out makes college a bad economic deal.
economics  via:reddit  college 
july 2016 by mcherm
Report: 74% Of Billionaire Wealth From Rent-Seeking
I'm not sure how reliable this data is, but it is asking some of the right questions.
via:reddit  economics  politics 
march 2016 by mcherm
The GOP Must Answer for What It Did to Kansas -- NYMag
Republicans have instituted their "cut taxes and cut Social Services" policies in two states recently and both were utter failures. Nevertheless their presidential candidates still espouse an even more extreme version of this for the nation.
politics  nytimes  economics  via:reddit 
march 2016 by mcherm
Moneyness: The desert dollar industry
Deflation running rampant. I hope this is a joke, isn't it? (Yes, it is.)
economics  via:HackerNews  personal_net 
december 2015 by mcherm
Non-Dual Awareness | Slate Star Codex
Observation: in some professions (professor, doctor, drug dealer, lawyer) you either "made it" or you don't -- a bimodal distribution. Other professions are more continuous. This is probably driven by regulation in the form of some sort of "licensing". It is probably also a bad thing (leads to abuse, etc).
economics  socialcomputing  via:SlateStarCodex  ScottAlexander  sociology 
october 2015 by mcherm
Asymmetric Information in Wage Negotiations: Hockey’s Natural Experiment (2013) [pdf] | Hacker News
Hockey started publishing salary info. Immediately, wages became higher, correlated to performance, and consistent across teams when previously none had been true. Salary secrecy hurts workers.
via:HackerNews  science  economics  hiring  jobs 
july 2015 by mcherm
Los Angeles $15 minimum wage: Labor unions want to be exempt from it.
Labor unions: pay everyone a minimum of $15/hr. But if they work for a labor union you can pay them less. I am shocked. And the justification given in this article rings completely false to me.
law  economics  slate  via:reddit 
june 2015 by mcherm
What liberals could learn from Ted Cruz’s flat tax - Vox
Tax policy: economists say a consumption tax improves growth (compared to an income tax). "Flat tax" proposals are a consumption tax (well disguised) combined with a flat (or regressive) tax structure not a progressive one -- liberals should consider doing a progressive version.
politics  vox  via:vox  economics 
march 2015 by mcherm
Noahpinion: Is human capital really capital?
Nice article: I particularly like how he explains that a model can make ANY simplification and we really ought to be discussing over whether one model's simplifications are USEFUL, not whether they are CORRECT.
economics  via:NoahSmith 
march 2015 by mcherm
Something economists thought was impossible is happening in Europe - Vox
Some European countries are actually selling bonds at negative interest rates.
economics  via:vox  vox 
february 2015 by mcherm
SleuthSayers: The $3500 Shirt - A History Lesson in Economics
Before the industrial revolution, the work that went into producing a normal shirt would be nearly 500 hours, around $3,500 at minimum wage.
economics  history  via:HackerNews 
january 2015 by mcherm
Why Inequality Matters | Bill Gates | LinkedIn
Bill Gates says inequality is an issue, and that we should look at rates of consumption, not just rates of income to understand it best.
via:reddit  BillGates  wealth  economics 
october 2014 by mcherm
Cobra effect - Wikipedia, the free encyclopedia
They offered a bounty on cobras, so people started breeding them. They cancelled the bounty so people released all the snakes they had. Better solution (I say): slowly reduce the bounty.
via:boingboing  economics 
september 2014 by mcherm
The Island Of Stone Money : Planet Money : NPR
About that island where the giant stone coins just sit there and people remember who owns them.
money  npr  via:reddit  economics 
january 2014 by mcherm
Why I want Bitcoin to die in a fire - Charlie's Diary
An anti-bitcoin diatribe by Charlie Stross. And it's quite intelligent.
bitcoin  economics  via:CharlesStross  CharlesStross 
december 2013 by mcherm
Noahpinion: When teaching econ, start with the parts that work
Macroeconomics doesn't really work; so teaching supply and demand first (as we do) is a good thing and we should keep doing it.
economics  personal_net  via:NoahSmith 
december 2013 by mcherm
China bond purchases: Stop being wrong.
China is buying US bonds to keep the trade imbalance going.
economics  personal_net  via:HackerNews 
october 2013 by mcherm
Not Quite Noahpinion: If Fama were Newton, would Shiller be Einstein?
Strangely, a defense of the utility of the "efficient markets hypothesis".
economics  via:NoahSmith  NoahSmith 
october 2013 by mcherm
Wal-Mart heirs worth as much as bottom 41.5% of American families - Los Angeles Times
One family owns as much as the bottom 40% of all households in the US. That's just wrong.
economics  wealth  via:HackerNews 
october 2013 by mcherm
Bloomberg Gas Price Ranking
The price of gasoline in various countries. Nice presentation format.
datavisualization  economics  via:HackerNews 
september 2013 by mcherm
The greatest mystery of the Inca Empire was its strange economy
The Incas apparently didn't invent money and didn't engage in trade.
personal_net  economics  via:HackerNews 
august 2013 by mcherm
Why bitcoins are more expensive in Argentina than the US
Argentina restricts conversions of their currency so bitcoin is doing well there.
economics  bitcoin  via:HackerNews 
august 2013 by mcherm
Who Makes Below Minimum Wage in the Mechanical Turk Sweatshop?
Amazon's Mechanical Turk workers probably make less per hour than the US minimum wage. Surprisingly, most are decent-income US citizens.
economics  amazon  law  via:HackerNews 
july 2013 by mcherm
Noahpinion: Bets do not (necessarily) reveal beliefs
Some think that bets people make indicate their beliefs. But they might be hedges, or just posturing instead.
economics  via:NoahSmith  NoahSmith 
may 2013 by mcherm
The PA Report - How a clever player with a “useless” item almost took down EVE Online’s entire economy
They started giving rewards for taking out ships with valuable cargo. So someone cornered the market on a useless item then sold it (to a confederate) for a billion credits. Then they could get incredible rewards for destroying ships containing this item.
economics  virtualworlds  via:HackerNews  EVEOnline 
may 2013 by mcherm
Bitcoin falls from $266 | Hacker News
Dramatic fall. Also, I help explain what gives a currency its value.
bitcoin  mypostings  economics  via:HackerNews 
april 2013 by mcherm
A New Map Of The U.S., Created By How Our Dollar Bills Move | Co.Exist: World changing ideas and innovation
Use Where's George to map the movement of money in the US. Then draw new regional boundaries based on actual trade and interaction. Really interesting results.
via:HackerNews  maps  economics  datavisualization 
march 2013 by mcherm
Unfit for Work: The startling rise of disability in America | Planet Money
A huge number of people have been moving onto disability -- as many as have been moving OFF of welfare. It's becoming the "employment" of choice for people without an advanced education, and largely for questionable issues like back pain or mental illness.
npr  health  sociology  economics  politics  via:HackerNews 
march 2013 by mcherm
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