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tsuomela : capital   29

Nicolas Maisonneuve's blog » Social capital as contribution in participatory projects
"Contributing to a participatory projects like citizen science projects is somehow about asking volunteers to use one of their available capitals."
participation  participatory-culture  citizen-science  capital  contribution  incentive  social-capital 
january 2013 by tsuomela
Robots and Robber Barons -
"Wait — are we really back to talking about capital versus labor? Isn’t that an old-fashioned, almost Marxist sort of discussion, out of date in our modern information economy? Well, that’s what many people thought; for the past generation discussions of inequality have focused overwhelmingly not on capital versus labor but on distributional issues between workers, either on the gap between more- and less-educated workers or on the soaring incomes of a handful of superstars in finance and other fields. But that may be yesterday’s story."
economics  technology  growth  capital  capitalism  labor  marx 
december 2012 by tsuomela
echovar » Blog Archive » A Permanent Sense of Asymmetry: Watching the Non-Human Enter
"As Morton points out, in the age of ecology there is no clean transaction you can walk away from. The fact that everything is connected isn’t something you can turn off when it’s inconvenient. There’s always something still owed, a remaining debt. Morton describes this as the viscous quality of the hyperobject, the more you know about it the more it sticks to you. And as Graeber shows, capital fails to capture the full extent of a transaction because it doesn’t fully represent the object. In the social context of the transaction, there’s always a remainder, the market never fully clears. At the level of capital and pricing, the numbers always add up, but the object of the transaction is broadcasting on multiple frequencies. And if you hold the concept of capital in abeyance for just a moment, you’ll find there were many more parties to the transaction than you had assumed, and if you listen closely, you can hear that the non-human has continued its relationship with you. "
ecology  economics  transaction  exchange  commons  debt  capital  relationship  gifts  meta-analysis  fundamental  objects  object-oriented-ontology  literature  poetry 
april 2012 by tsuomela
Hall’s Law: The Nineteenth Century Prequel to Moore’s Law
"Interchangeability of parts breaks the coupling between scaling and manufacturing capacity by substituting supply-chain limits for manufacturing limits. For a rifle, you can build up a stockpile of spare parts in peace time, and deliver an uninterrupted supply of parts to match the breakdown rate. There is no need to predict which part might break down in order to meaningfully anticipate and prepare. You can also distribute production optimally (close to raw material sources or low-cost talent for instance), since there is no need to locate craftsmen near the point-of-use.

So when interchangeability was finally achieved and had diffused through the economy as standard practice (a process that took about 65 years), demand-management complexity moved to the supply chain, and most problems could be solved by distributing inventories appropriately." Annotated link
history  economic  technology  innovation  manufacturing  interchangeable  industrial  18c  19c  country(UnitedStates)  country(GreatBritain)  military  growth  revolution  capitalism  capital  design 
april 2012 by tsuomela
Steve Rattner, Card Carrying Member of Top 1%, Tells Us We Should Lie Back and Enjoy Much Lower Wages Resulting From Globalization « naked capitalism
"Until the 2000s, in every economic expansion, labor got the bulk of the increase in GDP, typically over 60%, via more jobs and increased pay. Post 2000, there was an astonishing change, a shift from labor share, which fell to below 30%, and a massive increase in corporate profits. In other words, there was huge shift away from labor to capital. This has little to do with globalization and much to do with the weakened bargaining power of US workers. As much as it has become fashionable to look down on unions (and their corruption and short-sightedness hasn’t helped), having well paid blue collar workers helped the negotiating position of non-unionized white collar employees."
economics  capital  labor  outsourcing  international  free-trade 
october 2011 by tsuomela
Stumbling and Mumbling: The wage squeeze, statism
"Can capitalism work in the interests of working people? Mervyn King has, inadvertently, revived this old question*. Last night, he pointed to falling real wages and said:

The squeeze in living standards is the inevitable price to pay for the financial crisis and subsequent rebalancing of the world and UK economies.

But this just raises the question: why must the squeeze be upon workers in the form of falling wages, rather than capitalists in the form of lower profits? As Duncan says, the question of who pays that bill is a political choice."
economics  recession  labor  capital  capitalism  crisis  taxes  socialism 
january 2011 by tsuomela
LRB · Benjamin Kunkel · How Much Is Too Much?
Review of:
The Enigma of Capital: And the Crises of Capitalism by David Harvey
A Companion to Marx’s ‘Capital’ by David Harvey
Plus comments on The Limits of Capital
book  review  marxism  about(KarlMarx)  economics  capitalism  capital  crisis 
january 2011 by tsuomela
UnderstandingSociety: Merchant capital
"Karl Marx was very interested in capital -- an abstract concept referring to society's wealth. And he was interested in the persons who owned and controlled capital -- the capitalists. But the primary focus of his lifelong analysis was upon one particular species of capital, what he referred to as "industrial capital." This is the form of wealth involved in the production process -- factories, mines, railroads. He had less to say about the aspect of capital that designated the exchange process -- what he referred to as "merchant capital" and finance capital. This selective focus reflected one of Marx's main historical opinions -- the idea that history moves forward through the development of the "productive forces," and that industrial capitalists (as well as the industrial proletariat) are the agents of this kind of economic change. "
capital  capitalism  marxism  history  merchant  industrial 
december 2010 by tsuomela
Required Intellectual Capital « The Baseline Scenario
"However, at another level – in terms of the analytical consensus around these issues – there is a great deal of progress in the right direction. In particular, an important new paper by Samuel Hanson, Anil Kashyap, and Jeremy Stein, “A Macroprudential Approach to Financial Regulation” pulls together the best recent thinking and makes three essential points." 1. be more serious about capital requirements 2. set capital requirements by type of asset not type of lender 3. no evidence for adverse effects of increased capital requirements
economics  policy  financial-services  banking  capital  regulation 
july 2010 by tsuomela
interfluidity » Capital can’t be measured
So, for large complex financials, capital cannot be measured precisely enough to distinguish conservatively solvent from insolvent banks, and capital positions are always optimistically padded. Given these facts, and I think they are facts, even “hard” capital and leverage restraints are unlikely to prevent misbehavior. Can anything be done about this? Are we doomed to some post-modern quantum mechanical nightmare wherein “Schrödinger’s Banks” are simultaneously alive and dead until some politically-shaped measurement by a regulator forces a collapse of the superposition of states into hunky-doriness?

Yes, we are doomed, unless and until we simplify the structure of the banks.
economics  banking  finance  financial-services  regulation  capital  law  measurement 
june 2010 by tsuomela
Overcoming Bias : Take Both Econ, Techies Seriously
While technologists are actively thinking about, and writing books about, intelligent machines, the idea that technology will ever truly replace a large fraction of the human workforce and lead to permanent, structural unemployment is, for the majority of economists, almost unthinkable. For mainstream economists, at least in the long run, technological advancement always leads to more prosperity and more jobs.
economics  technology  technology-effects  work  labor  capital 
october 2009 by tsuomela
Will the Politicians Listen to the People? « Jon Taplin’s Blog
The Big Lie of the current economic debate is that we just went through a “hundred year flood”–that this was all caused by the Sub Prime mortgage crisis. But the problems of stagnation and capacity utilization have been increasing since 1975 when overall capacity utilization was at 86%. It hasn’t been above 82% since 1995 and today it is below 77%. But the larger problem has been that we have misallocated our capital since the problems of economic stagnation first raised their head in the mid 1970’s.
economics  crisis  capital  allocation  innovation  productivity  capacity 
june 2009 by tsuomela
Interfluidity :: Rethinking subsidized finance
Banking-as-we-know-it is just a form of publicly subsidized private capital formation. I have no problem with subsidizing private capital formation, even with ceding much of the upside to entrepreneurial investors while taxpayers absorb much of the downside when things go wrong. But once we acknowledge the very large public subsidy in banking, it becomes possible to acknowledge other, perhaps less disaster-prone arrangements by which a nation might encourage private capital formation at lower social and financial cost.
banking  public-interest  governance  politics  society  capital  money  distribution 
march 2009 by tsuomela

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