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After the Retail Apocalypse, Prepare for the Property Tax Meltdown
Big-box retailers nationwide are slashing their property taxes through a legal loophole known as "dark store theory." For the towns that rely on that revenue, this could be a disaster.
retail  economy  america  taxes 
1 hour ago by bradbarrish
If the Rich Really Want To ‘Do Good,’ They Should Become Class Traitors Like FDR
In August Giridharadas released Winners Take All: The Elite Charade of Changing the World, which is a journalistic look at a culture of privatized change-making, where un-elected elites — unmarred by the messiness of democracy — try to tinker with problems they likely had a hand in causing.
review  book  class  economy  elitism 
4 hours ago by dirtystylus
Why ramen is so valuable in prison
Instant ramen noodles have become like cash among inmates in the US. And behind bars, it can buy you anything.

Cash is illegal in prisons. And that means everything from tuna to stamps to cigarettes have their own unique value in a trade and barter market. But ramen has quickly taken over as the most in demand products the prison system offers. Watch this video to see how ramen took over prison economies and why it’s the default item for trade among inmates.

https://www.youtube.com/watch?v=PLt9fRYT92M
ncpin  ncv  Food  VideoEssays  Ramen  Crime  Money  Economy 
8 hours ago by walt74
Why Sweden's cashless society is no longer a utopia
The instant payment app Swish has been downloaded by more than half of the population.
economy  Sweden  cash  finance  government  cashless 
9 hours ago by mirthe
The Earth is in a death spiral. It will take radical action to save us | George Monbiot | Guardian
Death spiral. Bold choice of words. Think about death spirals for a minute. "Decades of institutional failure ensures that only unrealistic proposals – the repurposing of economic life, with immediate effect – now have a realistic chance of stopping the planetary death spiral." There's that phrase again. Death spiral.
ecology  activism  politics  economics  economy 
10 hours ago by gominokouhai
Amazon's HQ2 Will Stress Housing Markets In NY and DC - The Atlantic
But Amazon is also bringing thousands of high-paying workers to two markets where the competition to find affordable housing is already fierce, and it is introducing yet more bodies into cities where transit is crumbling, but people are forced to live further and further from the city center due to rising housing prices.

For decades, economists have said that locating innovative companies in cities helps raise wages and the quality of life for everyone. But that’s no longer the case in all places. In cities with inflexible housing markets, a 2017 paper from the London School of Economics found, the addition of tech jobs in fact reduces real wages, since rents and other costs go up significantly. “While the paychecks in the pockets of barbers and phlebotomists in tech agglomerations might be larger as a consequence, housing and other rising costs might make these workers considerable worse off,” the paper concluded. Another paper that studied the trickle-down effects of high-wage jobs in housing markets put it more succinctly: “In tight housing markets, the poor do worse when the rich get richer.”

If nothing else, Amazon’s HQ2 decisions may accelerate America’s great divergence, where highly educated urbanites are doing better and better, and everyone else is doing worse. Amazon has jobs outside of cities too, of course, but those are often low-paying and grueling jobs that don’t have much room for upward mobility. “If you project forward to the dismal geography of a future in which Amazon utterly dominates, you have a handful of places that are doing well, where there are high-paid tech jobs,” Stacy Mitchell, the co-director of the Institute for Local Self-Reliance, told me. “Then you have a bunch of cities and neighborhoods, that if they’re lucky, will maybe get some warehouse jobs at $15 an hour and nothing else.”
economy  technology  politics  cities 
13 hours ago by dwalbert
Chinese Premier rejects economic stimulus option as latest data shows more weakness | South China Morning Post

The Chinese government has no plans to resort to a “massive stimulus” similar to that of 2008 as a way to manage its slowing economy amid the trade war with the United States, Premier Li Keqiang said on Tuesday.

Instead, Beijing will focus its policies on “energising the market, in particular market entities” and creating “fair and equal regulations” to maintain momentum in the world’s second biggest economy, Li said in a speech before attending the annual summit of the Association for Southeast Asian Nations in Singapore.
china  economy  macro 
16 hours ago by jayyy
China Censorship Moves From Politics To Economics

Topics such as consumers cutting back on spending, local governments struggling with debt repayments, lay-offs by bankrupt private companies and inefficiency at state-owned companies are increasingly off-limits, according to media staff.
china  economy  media  LH 
yesterday by jayyy
Artificial Interest Rate Adjustments Do Not Make Sense | Seeking Alpha
Abstract There is a glaring flaw in using artificial interest rate adjustments to regulate demand: the GDP maximising rate of interest is presumably the free ma
interest  rates  economics  economy 
yesterday by pkrnjevic
China Real Estate May Face ‘Year of Recession’ - Caixin Global

The fundamentals of China’s real estate market will face “a year of recession” in 2019, China International Capital Corp. (CICC) said Monday in a research report. Sales, investments and new construction starts will decline significantly next year, according to researchers at the largest state-backed investment bank in China. In response, the government should alter policies that were put in place to cool the market, the researchers said.
LH  china  realestate  economy 
yesterday by jayyy
The Experience Economy – Stratechery by Ben Thompson
The phrase “The Experience Economy”, like the worst sort of corporate speak, sounds less like a viable business plan than it does a discarded slogan for Las Vegas. Still, that was the explanation for SAP’s $8 billion acquisition for Qualtrics just days before the latter was set to IPO.
Archive  experience  design  economy  strategy 
2 days ago by bruno

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