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Divided We Fall | New Republic
"The Founders knew that economic inequality would destroy America's democracy. So why can't the Constitution save us?"
america  crisis  politics  history  inequality  wealth  money  progressive  reform 
april 2017 by tsuomela
Episode 19: Eric Rauchway on How FDR and Keynes Ended the Depression | Who Makes Cents
"We’ve been hearing a lot about economist John Maynard Keynes’ midcentury economic plans for the U.S. since the beginning of the financial crisis in 2008. Are the measures that Keynes and FDR took to combat the Depression in 2008 relevant to the present? What is the difference between fiscal and monetary policy, and how might changing our national approach to the monetary supply help our economic circumstances? Listen to find out! Eric Rauchway is Professor of History at the University of California, Davis. He is author of The Money Makers: How Roosevelt and Keynes Ended the Depression, Defeated Fascism, and Secured a Prosperous Peace. You can read more about his work here."
podcast  history  america  great-depression  money  economics 
june 2016 by tsuomela
Rich people rule!
"A forthcoming article in Perspectives on Politics by (my former colleague) Martin Gilens and (my sometime collaborator) Benjamin Page marks a notable step in that process. Drawing on the same extensive evidence employed by Gilens in his landmark book “Affluence and Influence,” Gilens and Page analyze 1,779 policy outcomes over a period of more than 20 years. They conclude that “economic elites and organized groups representing business interests have substantial independent impacts on U.S. government policy, while mass-based interest groups and average citizens have little or no independent influence.”"
politics  rich  money  policy  political-science  oligarchy 
april 2014 by tsuomela
Book - Peter Dauvergne , Genevieve LeBaron - Protest Inc.: The Corporatization of Activism
"Mass protests have raged since the global financial crisis of 2008. Across the world students and workers and environmentalists are taking to the streets. Discontent is seething even in the wealthiest countries, as the world saw with Occupy Wall Street in 2011. Protest Inc. tells a disturbingly different story of global activism. As millions of grassroots activists rally against capitalism, activism more broadly is increasingly mirroring business management and echoing calls for market-based solutions. The past decade has seen nongovernmental organizations partner with oil companies like ExxonMobil, discount retailers like Walmart, fast-food chains like McDonald’s, and brand manufacturers like Nike and Coca-Cola. NGOs are courting billionaire philanthropists, branding causes, and turning to consumers as wellsprings of reform. Are “career” activists selling out to pay staff and fund programs? Partly. But far more is going on. Political and socioeconomic changes are enhancing the power of business to corporatize activism, including a worldwide crackdown on dissent, a strengthening of consumerism, a privatization of daily life, and a shifting of activism into business-style institutions. Grassroots activists are fighting back. Yet, even as protestors march and occupy cities, more and more activist organizations are collaborating with business and advocating for corporate-friendly “solutions.” This landmark book sounds the alarm about the dangers of this corporatizing trend for the future of transformative change in world politics."
book  publisher  activism  corporatism  money  funding  organizations  structure 
march 2014 by tsuomela
302 Found
"Recent evidence suggests that perceptions of social class rank influence a variety of social cognitive tendencies, from patterns of causal attribution to moral judgment. In the present studies we tested the hypotheses that upper-class rank individuals would be more likely to endorse essentialist lay theories of social class categories (i.e., that social class is founded in genetically based, biological differences) than would lower-class rank individuals and that these beliefs would decrease support for restorative justice—which seeks to rehabilitate offenders, rather than punish unlawful action. Across studies, higher social class rank was associated with increased essentialism of social class categories (Studies 1, 2, and 4) and decreased support for restorative justice (Study 4). Moreover, manipulated essentialist beliefs decreased preferences for restorative justice (Study 3), and the association between social class rank and class-based essentialist theories was explained by the tendency to endorse beliefs in a just world (Study 2). Implications for how class-based essentialist beliefs potentially constrain social opportunity and mobility are discussed. (PsycINFO Database Record (c) 2013 APA, all rights reserved)"
social-psychology  wealth  money  essentialism  class  poverty  bias  punishment 
january 2014 by tsuomela
Frank Rich on 'This Town' and Washington's Dysfunctional Bipartisanship -- New York Magazine
"The Stench of the Potomac Washington may be a dysfunctional place to govern, but it’s working better than ever as a marketplace for cashing in. And that’s thanks, more than anything, to the Democratic Establishment."
politics  money  lobbying  class  elites  power  democrats  failure  corruption 
august 2013 by tsuomela
What Careerist Americans Can Learn From Ike, Dorothy Day and Jimmy Buffett - Conor Friedersdorf - The Atlantic
"The paraphrased quote, repeated during a meandering Wednesday conversation between David Brooks and Arianna Huffington, comes as close as any one statement can to distilling what the ideologically not-quite-opposites both regard as a flaw in the American psyche: we overvalue professional success, measured in money and power, and undervalue introspection and the life well-lived*"
american  culture  work  success  money  power  introspection  contemplation  values  medium-chill 
june 2013 by tsuomela
You Can Never Have Too Much Money, New Research Shows | Brookings Institution
"In 1974 Richard Easterlin famously posited that increasing average income did not raise average well-being, a claim that became known as the Easterlin Paradox. Since then, some researchers have acknowledged the existence of a link between income and well-being among those whose basic needs have not been met, but claim that beyond a certain income threshold ( a "satiation point"), further income is unrelated to well-being. But new research by Betsey Stevenson and Justin Wolfers finds a robust link between income and well-being among both the poor and the rich. This finding holds true when making cross-national comparisons between rich and poor countries, and when making comparisons between rich and poor people within a country."
economics  money  psychology  happiness  income  wealth 
april 2013 by tsuomela
The Risk Ownership Society | Dissent Magazine
"Freaks of Fortune provides a timely source of perspective on the financial dislocations of the last decade. We have been here before. Maybe we have been nowhere else since the guns fell silent at Appomattox. Freaks of Fortune is a scholarly and affectionate recounting of a journey, which, despite hustle and heartbreak, controversy and countermovement, seems always to leave us right back where we started. We are left with a difficult question: if we wish to be free in the way that Americans understand freedom, have we no choice but to submit to a faceless, periodically psychotic “economic chance-world”?"
book  review  crisis  financial-services  finance  money  economics  risk  chance 
february 2013 by tsuomela
Rebecca Solnit · Diary: Google Invades · LRB 7 February 2013
"There are ways in which Silicon Valley is nothing like this: it’s clean, quiet work, and here to stay in one form or another. But there are ways in which technology is just another boom and the Bay Area is once again a boomtown, with transient populations, escalating housing costs, mass displacements and the casual erasure of what was here before. I think of it as frontierism, with all the frontier’s attitude and operational style, where people without a lot of attachments come and do things without a lot of concern for their impact, where money moves around pretty casually, and people are ground underfoot equally casually."
business  money  frontier  city(SanFrancisco)  technology  google  silicon-valley 
february 2013 by tsuomela
Dissent Magazine - Online Features - Universities and the Urban Growth Machine -
"With mortgage and other credit markets still in the doldrums, universities have become a very attractive option for investors looking for high returns on debt-financed growth. Money capital has poured into construction bonds, student loans, and other financial instruments spun out of the tuition bubble. When universities become the apple of the financier’s eye, they begin to generate debt in every direction, as I have shown here. NYU’s own long-term debt is a hefty $2.6 billion, far outpacing that of other comparable urban universities: Columbia ($1.3 billion), USC ($0.973 billion), and Penn ($1.7 billion)."
university  college  debt  money  economics  growth  finance  academia  corporate 
october 2012 by tsuomela
Niall Ferguson Newsweek Cover - Culture of Public Speaking - Esquire
"The real issue isn't the substance of Ferguson's argument, though, which is shallow and basically exploded by this point in time. It isn't even the question of how such garbage managed to be written and published. It is, rather, why did Ferguson write it? The answer is simple but has profound implications for American intellectual life generally: public speaking."
public-intellectual  pundits  america  speaking  money  corruption 
august 2012 by tsuomela
Review: “Free Ride: How Digital Parasites are Destroying the Culture Business, and How the Culture Business Can Fight Back” « The Scholarly Kitchen
"I recently finished a book entitled, “Free Ride: How Digital Parasites are Destroying the Culture Business, and How the Culture Business Can Fight Back.” It’s a fascinating insight into how the digital revolution, which was meant to spawn a resurgent era of artistic and creative productivity, has instead turned into an exploitative decade with technology companies and “free content” advocates undercutting the very foundations of what the author, Robert Levine, calls “the culture business.” The result? Droves of dispirited, underfunded, and beleaguered artists, authors, editors, reporters, critics, performers, musicians, and creative businesses in their wake."
book  review  free  technology  open  digital  culture  art  music  money  economics  commons  intellectual-property  copyright  business 
august 2012 by tsuomela
interfluidity » Trade-offs between inequality, productivity, and employment
"I think there is a tradeoff between inequality and full employment that becomes exacerbated as technological productivity improves. This is driven by the fact that the marginal benefit humans gain from current consumption declines much more rapidly than the benefit we get from retaining claims against an uncertain future.

Wealth is about insurance much more than it is about consumption. As consumers, our requirements are limited. But the curve balls the universe might throw at us are infinite. If you are very wealthy, there is real value in purchasing yet another apartment in yet another country through yet another hopefully-but-not-certainly-trustworthy native intermediary. "
money  wealth  income  income-distribution  insurance  inequality  productivity  employment  technology 
august 2012 by tsuomela
UnderstandingSociety: Durable inequality
"Chuck Tilly was an enormously creative historical sociologist, and he also had a knack for a good title. This is certainly true of his 1998 book, Durable Inequality. The topic is of particular interest today, in the contemporary environment of ever-more visible and widening inequalities that pervade American society."
book  review  sociology  inequality  money  class  wealth  income 
july 2012 by tsuomela
The Dark Knight Buyses | Dave Ex Machina
"We live in a world where tremendous physical strength is of little use in getting anything accomplished. Abilities like super-speed or flight would be fun, but more as a novelty than anything else. Even phenomenal brains don’t particularly wow the masses these days. But a seemingly endless supply of money? That would make you a force to be reckoned with. Batman not only has super-powers, he’s got the only one that matters."
title(Batman)  money  wealth  comics  mythology  class 
july 2012 by tsuomela
Listen Up You Primitive Screwheads | Easily Distracted
I hereby volunteer: the next pundit who talks about how MOOCs are going to save higher education some big bucks needs to meet me for drinks at the establishment of his or her choosing, I’ll foot the bill, and in return I just ask for the chance to politely and rationally CHEW THEIR FUCKING EARS OFF. Annotated link http://www.diigo.com/bookmark/http://blogs.swarthmore.edu/burke/2012/07/20/listen-up-you-primitive-screwheads/
mooc  education  digital  future  reform  money  cost  infrastructure 
july 2012 by tsuomela
Rootstrikers
"Our republic is dangerously out of balance. Well-financed special interests routinely bend the levers of power to benefit the few at the expense of our general welfare.

Political bribery has been legalized by the courts, and both major parties have been co-opted and corrupted by the system.

The result: The upper 1% have done well. The other 99% of us have been left behind. And now we’ve reached a breaking point.

Rootstrikers aims to restore power over American politics and government to 100% of the people. We hope patriots of all political persuasions will join us to help build an unstoppable grassroots movement that demands and delivers lasting reforms."
activism  politics  reform  corruption  money  campaign  elections 
july 2012 by tsuomela
BBC - BBC Radio 4 Programmes - Analysis, What Is Money?
"We dream about it, argue about it, worry about it, celebrate it, spend it, save it, we transfer it from one emotion to another. But what exactly is money? And why do we trust it? Frances Stonor Saunders takes a journey through some of the fundamentals of money.
During her journey she dips her toe into the world of quantitative easing. How is that money invented? Is it as real as the pieces of paper in our wallets? And she explores some of the reasons for the calls to return to a gold standard. Essentially, she tries to gain a better understanding of what this stuff which we call money is really about
podcast  economics  money  sociology 
april 2012 by tsuomela
Too Smart to Fail: Notes on an Age of Folly | | Notebook | The Baffler
"Of course there was a place where ideas weren’t simply for sale, I thought: the professions. Ethical standards kept professionals independent of their clients’ gross pecuniary interests.

These days, though, I’m not so sure. Money has transformed every watchdog, every independent authority. Medical doctors are increasingly gulled by the lobbying of pharmaceutical salesmen. Accountants were no match for Enron. Corporate boards are rubber stamps. Hospitals break unions, and, with an eye toward future donations, electronically single out rich patients for more luxurious treatment.
economics  profession  expertise  money  corruption  capitalism 
march 2012 by tsuomela
Thomas Frank: How Americans Have Gotten Played -- Over and Over and Over Again | News
"Of course there was a place where ideas weren’t simply for sale, I thought: the professions. Ethical standards kept professionals independent of their clients’ gross pecuniary interests.

These days, though, I’m not so sure. Money has transformed every watchdog, every independent authority. Medical doctors are increasingly gulled by the lobbying of pharmaceutical salesmen. Accountants were no match for Enron. Corporate boards are rubber stamps. Hospitals break unions, and, with an eye toward future donations, electronically single out rich patients for more luxurious treatment."
economics  profession  expertise  money  corruption 
march 2012 by tsuomela
Money vs. Science | Cosmic Variance | Discover Magazine
"Everyone who has been paying attention knows that there is a strong anti-science movement in this country — driven partly by populist anti-intellectualism, but increasingly by corporate interests that just don’t like what science has to say. It’s an old problem — tobacco companies succeeded for years in sowing doubt about the health effects of smoking — but it’s become significantly worse in recent years."
sts  science  money  lobbying  propaganda 
march 2012 by tsuomela
Higher social class predicts increased unethical behavior
Seven studies using experimental and naturalistic methods reveal that upper-class individuals behave more unethically than lower-class individuals. In studies 1 and 2, upper-class individuals were more likely to break the law while driving, relative to lower-class individuals. In follow-up laboratory studies, upper-class individuals were more likely to exhibit unethical decision-making tendencies (study 3), take valued goods from others (study 4), lie in a negotiation (study 5), cheat to increase their chances of winning a prize (study 6), and endorse unethical behavior at work (study 7) than were lower-class individuals. Mediator and moderator data demonstrated that upper-class individuals’ unethical tendencies are accounted for, in part, by their more favorable attitudes toward greed.
psychology  lying  behavior  morality  ethics  class  income  money  socioeconomic  status  judgment  self-interest 
february 2012 by tsuomela
nsf.gov - National Science Foundation (NSF) News - New Studies Determine Which Social Class More Likely to Behave Unethically - US National Science Foundation (NSF)
A series of studies conducted by psychologists at the University of California, Berkeley and the University of Toronto in Canada reveal something the well off may not want to hear. Individuals who are relatively high in social class are more likely to engage in a variety of unethical behaviors.
psychology  lying  behavior  morality  ethics  class  income  money 
february 2012 by tsuomela
Newspapers, Paywalls, and Core Users « Clay Shirky
"To understand newspapers’ 15-year attachment to paywalls, you have to understand “Everyone must pay!” not just as an economic assertion, but as a cultural one. Though the journalists all knew readership would plummet if their paper dropped imported content like Dear Abby or the funny pages, they never really had to know just how few people were reading about the City Council or the water main break. Part of the appeal of paywalls, even in the face of their economic ineffectiveness, was preserving this sense that a coupon-clipper and a news junkie were both just customers, people whose motivations the paper could serve in general, without having to understand in particular."
journalism  media  publishing  publisher  economics  money  paywall 
february 2012 by tsuomela
Jon Taplin's Home Page » American Crack-Up
"This election should be fought on this pie chart. Where are we going to spend our collective wealth? On guns, jet fighters and tanks or on schools, hospitals and roads. This will mean that the Democrats will have to have the courage to fight the “soft on terrorism” brickbrats thrown by Newt or Mitt. Ron Paul is already used to hearing this bullshit, and it doesn’t seem to be bothering him."
politics  government  defense  budget  money  military-industrial-complex 
february 2012 by tsuomela
interfluidity » Why is finance so complex?
"Finance has always been complex. More precisely it has always been opaque, and complexity is a means of rationalizing opacity in societies that pretend to transparency. Opacity is absolutely essential to modern finance. It is a feature not a bug until we radically change the way we mobilize economic risk-bearing. The core purpose of status quo finance is to coax people into accepting risks that they would not, if fully informed, consent to bear."
banking  complexity  opacity  transparency  game-theory  risk  money  economics 
january 2012 by tsuomela
Graduates Versus Oligarchs - NYTimes.com
"The big gains have gone to the top 0.1 percent. So income inequality in America really is about oligarchs versus everyone else. When the Occupy Wall Street people talk about the 99 percent, they’re actually aiming too low."
economics  money  income-distribution  wealth  inequality  via:cshalizi 
november 2011 by tsuomela
Tea Partiers Want A New Dollar Coin And Refuse To Listen To The Free Market In The Process | Capital Gains and Games
"The problem was that the vending machine operators and owners suddenly realized once the coin was available that it was going to cost them about $50 to retrofit each machine so that it would accept dollar coins...and most flatly refused to spend the money. They wanted the Mint to pay for the retrofitting, which it wasn't authorized to do.

With banks refusing to order the golden dollar in big numbers or distribute them exclusively when they had them, retailers refusing to order them because of the additional cost, consumer wanting them but having a substitute -- the bill -- that they liked at least as much, and vending machine owners refusing to get in the game, the golden dollar died the same ignominious death as the Susan B. Anthony."
history  sts  infrastructure  cost  standards  money  coins 
october 2011 by tsuomela
[Debt: The First 5,000 Years] - C-SPAN Video Library
David Graeber talked about the history of debt and its impact in the world over thousands of years. During this event from Melville House Bookstore in Brooklyn, New York, Professor Graeber was interviewed by Doug Henwood, author of Wall Street and After the New Economy. Professor Graeber also responded to questions from members of the audience.
video  interview  money  debt  economics  anthropology  history 
october 2011 by tsuomela
California and Bust | Business | Vanity Fair
The smart money says the U.S. economy will splinter, with some states thriving, some states not, and all eyes are on California as the nightmare scenario. After a hair-raising visit with former governor Arnold Schwarzenegger, who explains why the Golden State has cratered, Michael Lewis goes where the buck literally stops—the local level, where the likes of San Jose mayor Chuck Reed and Vallejo fire chief Paige Meyer are trying to avert even worse catastrophes and rethink what it means to be a society.
state(California)  economics  money  politics  pensions  bankruptcy  debt  municipal  failure  government  near-far  future 
september 2011 by tsuomela
Contrary Brin: Libertarians and Conservatives must choose: Competitive Enterprise or Idolatry of Property
"Hence, at last, the supreme irony. Those who claim most-fervent dedication to the guiding principle of our Enlightenment: competition, reciprocal accountability and enterprise -- our neighbors who call themselves conservative or libertarian -- have been talked into conflating that principle with something entirely different. Idolatry of private wealth, sacred and limitless. A dogmatic-religious devotion that reaches its culmination in the hypnotic cantos of Ayn Rand."
conservatism  libertarianism  markets  economics  politics  democracy  science  competition  ideology  wealth  power  money 
september 2011 by tsuomela
Twilight of the Social Critics -- In These Times
David Brooks’ latest book, The Social Animal, does not bode well for post-crisis America.
book  review  class  money  economics  wealth  power 
may 2011 by tsuomela
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