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Nailed It! The cooking show that bakes capitalism to a crisp | Jack Bernhardt | Opinion | The Guardian
In some ways, competitive reality TV is a microcosm for the competitive nature of society: every contestant is pitted against each other, fighting to be recognised as the best baker/butcher/candlestick maker (Love Productions is probably already filming the Great British Candlestick Carving, hosted by Jo Whiley), and the panic and stress they go through is what makes it compelling viewing – that and the slight chance that at some point Gordon Ramsay will scream so hard, he’ll turn inside out.
Capitalism  Media  Competition  competitive  competitiveness  Entertainment  Individualism  hyper  status  anxiety 
6 hours ago by asterisk2a
Malcolm Harris on Glitch Capitalism and AI Logic
"In one disturbing example, a flight simulator discovered that a very hard landing would overload its memory and register as super smooth, so it bashed planes into an aircraft carrier. In 2018, it’s very easy to feel like the whole country is one of those planes getting crashed into a boat. American society has come to follow the same logic as the glitch-hunting AIs, and in the process, we’ve become vulnerable to these glitches, at an increasingly large scale. "
ai  hahaonlyserious  us  2018  capitalism  from:nymag 
7 hours ago by mechazoidal
Opinion | The Democrats’ Gentrification Problem - The New York Times
"Research that focuses on the way city neighborhoods are changing by income, race and ethnicity, while not specifically addressed to political consequences, helps us see the potential for conflict within the Democratic coalition.

Robert J. Sampson, a sociologist at Harvard, published a detailed study in 2015 for the St. Louis Federal Reserve of the economic composition of neighborhoods. Overall, he found, “middle-income neighborhoods are tenuous,” while neighborhoods at the top and bottom of the economic ladder have remained strikingly stable."

"Upscale liberal whites “who consider themselves committed to racial justice” tend to be “NIMBYists when it comes to their neighborhoods,” Cain wrote, “not living up to their affordable housing commitments and resisting apartment density around mass transportation stops.”"

"As intraparty economic and racial divisions have increased within the Democratic coalition, the political power of the well-to-do has grown at the expense of racial and ethnic minorities."

"The maneuvers in California are a reflection of a larger problem for Democrats: their inability to reconcile the conflicts inherent in the party’s economic and racial bifurcation."

"Democratic politicians should respond by imposing higher taxes on the wealthy and spending the proceeds on the less well off."

"The progressivity of income taxes has decreased, reliance on regressive consumption taxes has increased, and the taxation of capital has followed a global race to the bottom. Instead of boosting infrastructure investment, governments have pursued austerity policies that are particularly harmful to low-skill workers. Big banks and corporations have been bailed out, but households have not. In the United States, the minimum wage has not been adjusted sufficiently, allowing it to erode in real terms."

Rodrik cites the work of the French economist Thomas Piketty, who argues that political parties on the left have been taken over, here and in Europe, “by the well-educated elite” — what Piketty calls the “Brahmin Left.” The Brahmin Left, writes Rodrik,
is not friendly to redistribution, because it believes in meritocracy — a world in which effort gets rewarded and low incomes are more likely to be the result of insufficient effort than poor luck.

"The Democrats will become the party of urban cosmopolitan business liberalism, and the Republicans will become the party of suburban and rural nationalist populism."

"The force that had historically pushed policy to the economic left — organized labor — has for the most part been marginalized. African-American and Hispanic voters have shown little willingness to join Democratic reform movements led by upper middle class whites, as shown in their lack of enthusiasm for Bill Bradley running against Al Gore in 2000 or Sanders running against Clinton in 2016.

The hurdle facing those seeking to democratize elite domination of the Democratic Party is finding voters and donors who have a sustained interest in redistributive policies — and the minimum wage is only a small piece of this. Achieving that goal requires an economically coherent center-left political coalition. It also requires the ability to overcome the seemingly insuperable political divisions between the white working class and the African-American and Hispanic working classes — that elusive but essential multiracial — and now multiethnic — majority. Establishing that majority in a coherent political coalition is the only way in which the economic interests of those in the bottom half of the income distribution will be effectively addressed."
inequality  us  politics  democrats  meritocracy  2018  democracy  taxes  capitalism  capital  gentrification  cities  urban  urbanism  nimbyism  california  policy  progressives  wealth  unions  labor  thomaspiketty  michaellind  danirodrik  elitism  liberalism  neoliberalism  republicans  donaldtrump  race  racism  class  classism  segregation  thomasedsall 
2 days ago by robertogreco
Artist's project: free ($10 shipping), crappy, drop-shipped watches from Alibaba. Fake companies with cookie-cutter squarespace websites, watches advertised on instagram.
art  capitalism  econ  biz  pdf  clothes 
2 days ago by ngm01
Brokers May Have to Put Customers First - Bloomberg
We deal with the unresolvable conflict by telling her to resolve it in the client's best interests, and looking very stern and serious when we tell her that. 

if you say "hey from now on we will expect used-car dealers to look out for their customers' best interests" -- then people might not find it wholly credible.

Manipulation is fundamentally an issue of intent, and the way you prove intent is by (1) noticing unusual trading and then (2) finding the dumb chat where a trader says "I intend to manipulate, hope it works!"
levine  trust  capitalism 
3 days ago by elrob

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