daguti + economics   164

The Origin Of 'The World's Dumbest Idea': Milton Friedman
This was the jackass who turned America into an endless cycle of "rich get richer, poor get poorer" - He reminds me of the same lack of social responsibility seen in Libertarians.

But there are heroes... Make sure you get down to the section, "Peter Drucker got it right..."

The one thing I keep getting conked over the head with is Rob's "It's not a positive or a negative, it's an attribute.", because earlier in the article it talks about the "magic moment" (my words) when Friedman's argument converges with the pressures of globalization to help usher in this era of maximizing shareholder value to the detriment of everything else...

But then later on it mentions "Peter Drucker’s argument about the primacy of the customer didn’t have much effect until globalization and the Internet changed everything. Customers suddenly had real choices, access to instant reliable information and the ability to communicate with each other. Power in the marketplace shifted from seller to buyer."

So globalization helped usher in this anti-consumer (anti-employee, anti-etc) era, but it also helped consumers find and communicate with each other.

capitalism-done-right = You have to get down to the section on Peter Drucker and after that "The primacy of the consumer...", but it lists out the companies that are doing it right. I will say that it mentions Amazon, even though we know they treat their delivery people shittily (no benefits, low pay, uncertain hours, tons of delivery in a short amount of time), but that's in a world where the competition is squeezing them (i.e. Walmart) -- if everyone were to up their game, we might have a positive situation all around.
economics  people-milton-friedman  analysis  anti-something  me-stuff  capitalism-done-right 
6 weeks ago by daguti
The Libertarian Who Accidentally Helped Make the Case for Regulation: George Mason economist Alex Tabarrok set out to prove that federal regulations are strangling the economy. That’s not what he found. : TrueReddit
"Alex Tabarrok is no one’s idea of a big-government liberal. A libertarian economist at George Mason University, he’s best known for cofounding Marginal Revolution, one of the most popular economics blogs on the internet. A deep skeptic of government bureaucracies, he has written favorably of private prisons, private airports, and even private cities.

That’s why a study he co-published earlier this year is so noteworthy. When Tabarrok and his former grad student Nathan Goldschlag set out to measure how federal regulations impact business growth, they were sure they’d find proof that regulations were dragging down the economy. But they didn’t. No matter how they sliced the data, they could find no evidence that federal regulation was bad for business."

Pretty shocking that he actually published the data, being that it contradicted his ideology. As someone said after reading the above intro, "Kudos to him for publishing it."
counterintuitive  politics-philosophies-republicans  economics  economics-free-market 
april 2018 by daguti
NPR - In 1886, a Coca-Cola cost a nickel. Over half a century...
Simple, easy shots, with some sound effects and quaint music make for an engaging video.
video  filmmaking-technique  economics  business  history-business 
march 2018 by daguti
If You Aren't Worried About A Trade War, You Don't Know About The Chicken Tax
This is Forbes - a financially conservative publication basically calling out Trump's recent idiotic protectionism of the steel industry.
politics  economics  people-donald-trump 
march 2018 by daguti
Donald Trump’s experts are basing his trade policy on a remarkably silly mistake - Vox
Like many managers (looking at you, Scott Hallman), Trump's economic team thinks that if you change a variable in a formula, you mechanically change the other variables in that formula. They fail to realize that a formula is a method of calculating, not a causal relationship. FTA:

"But this is an accounting procedure, not a causal theory. The accounting procedure says that government purchases are an element of GDP — higher G means higher GDP, and absolutely everyone agrees on that. But whether increasing government spending will boost or harm the economy is obviously a hot topic of political debate. A sensible high-level take would be “it depends.” It matters what you spend the money on; it matters how you raise the revenue and what the larger economic situation is.

The net exports situation is just the same. If America’s net exports grow because America becomes a fashionable tourist destination and sales of Boeing airplanes surge, then that will boost the economy. But if America’s net exports grow because new Trump-imposed taxes cause the price of imported goods to surge, then the economy is going to shrink."
people-donald-trump  economics  election-2016-presidential 
september 2016 by daguti
How Markets Magnify the Role of Luck and Create the Illusion of Meritocracy - Evonomics
"...a gifted salesperson, for example, will be far more productive if her assignment is to sell financial securities to sovereign wealth funds than if she’s selling children’s shoes."

"It’s of course a good thing that their superior offerings are now available to more people. But an inevitable side effect has been that producers with even a slight edge over their rivals went on to capture most of the industry’s income.

Therein lies a hint about why chance events have grown more important even as markets have become more competitive. When shipping costs fell dramatically, producers who were once local monopolists serving geographically isolated markets found themselves battling one another for survival. In those battles, even a tiny cost advantage or quality edge could be decisive. Minor random events can easily tip the balance in such competitions— and in the process spell the difference between great wealth and economic failure. So luck is becoming more important in part because the stakes have increased sharply in contests whose outcomes have always hinged partly on chance events."
capitalism  analysis  wealth-income-distribution  small-things-bring-big-results  history-business  economics  economics-80s-through-today  success  success-luck 
may 2016 by daguti
Why Google finally has to worry about the stock market
SUMMARY: 2016 could be a rocky year for tech companies, and the market in general, as the free money party ends. (Fed Reserve raises interest rates above 0% and Silicon Valley's wild money takes a rest.)
stock-exchange  stocks  economics  news  2016  history-computer 
january 2016 by daguti
The Sharing Economy Isn't a Niche. It's the Future of Market Capitalism.
"Rather than cause the death of capitalism, these technological developments will redefine what it means to be an employer, an employee and a customer." .............. restaurants = "Take ChowNow, which offers restaurants a platform to manage online orders. Instead of reinventing the wheel and building out its own delivery platform, it leveraged the growing shared economy movement and launched a partnership with Uber to fulfill deliveries."
capitalism  future  predictions  economics  analysis  work  career  restaurants 
november 2015 by daguti
IMF data shows Iceland's economy recovered after it imprisoned bankers and let banks go bust - instead of bailing them out : worldnews
As usual, read the comments for another perspective. See this one by scalfin: http://www.reddit.com/r/worldnews/comments/39b13c/imf_data_shows_icelands_economy_recovered_after/cs21mhg "Let's make two things clear: the Icelandic banks owed money to foreign investors while the US owed money to itself and "going bust" means entering bankruptcy protection to discharge debts. Basically, Iceland told foreign investors to fuck off while the US would have been letting the savings accounts of average citizens disappear had it done the same."
countries-iceland  economics  economic-recession-2008  banks 
june 2015 by daguti
Why Ordinary People Bear Economic Risks and Donald Trump Doesn’t : politics
"The basic question is who should bear these risks. As long as the laws shield large investors while putting the risks on ordinary people, investors will continue to make big bets that deliver jackpots when they win but create losses for everyone else. Average working people need more fresh starts. Big corporations, banks, and Donald Trump need fewer."
people-donald-trump  wealth-income-distribution  economics  economic-recession-2008  debt-personal  credit-cards 
september 2014 by daguti
US Fiscal Debate Could Learn From Norway | The Progressive Press
"Contrary to the myth of job creators, high rates have not crippled Norwegian entrepreneurs. In fact, Norway produces more successful business start-ups than the US." ----------- The whole article is mind-blowing. US corporate taxes are the 2nd lowest in the world, yet the rhetoric is that we have to lower corporate taxes more, in fear of corporations leaving. This Randism taken to the extreme is killing the country.
counterintuitive  europe  economics  politics-philosophies-republicans  me-stuff 
september 2014 by daguti
Obama To Americans: You Don't Deserve To Be Free - Forbes
The first few paragraphs up to this quoted one below are kind of ok, but then he goes on to say we need to get rid of every regulatory agency. What a dumbass. "I pick 100 years deliberately, because it was exactly 100 years ago that a gigantic anti-capitalist measure was put into effect: the Federal Reserve System. For 100 years, government, not the free market, has controlled money and banking. How’s that worked out? How’s the value of the dollar held up since 1913? Is it worth one-fiftieth of its value then or only one-one-hundredth? You be the judge. How did the dollar hold up over the 100 years before this government take-over of money and banking? It actually gained slightly in value."
economics  analysis  interesting 
february 2014 by daguti
Tim Harford — Article — Fairness is shared by our environment
"‘The idea that hard work needs to be rewarded is a farmer’s view. The claim that “we’re all in this together” is hunter-thinking’"
evolvify-topics  culture  society  economics 
february 2014 by daguti
Feudal Japan's Class Structure - The Four Tiered Class System
Feudal Japan had an interesting four-tiered class system, with samurai warriors on top and merchants on the bottom. Unlike European feudal society, in which the peasants (or serfs) were at the bottom, the Japanese feudal class structure placed merchants on the lowest rung. Confucian ideals emphasized the importance of productive members of society, so farmers and fishermen had higher status than shop-keepers in Japan.
society  economics  culture  countries-japan 
june 2013 by daguti
Who controls the world? More resources for understanding
Perfectly shows why a few companies can take down the globaly economy while avoiding (and actually discrediting) the conspiracy theory angle.
large-systems  visualization  tedtalks  anti-something  conspiracy  economics 
february 2013 by daguti
Thomas Thwaites: How I built a toaster -- from scratch | Video on TED.com
Guy tries to build a homemade toaster from scratch and in the process, realizes that it takes an entire society. 2015-09-17: Guy builds a sandwich from scratch, takes 6 months and $1500: http://digg.com/video/sandwich-from-scratch-6-month-1500-dollars
large-systems  tedtalks  technology  society  art  economics  diy 
december 2012 by daguti
Economy Watch - China slowdown threatens US factory revival
paradigm-shifts = "China continues to pursue an ambitious, 30-year plan to transform itself from a rural agrarian society to an urbanized manufacturing and consumer-driven economy. The ongoing flood of workers from farms to factories -- the largest peace-time migration in human history -- will continue to drive demand for new housing, cars and other consumer products."
economics  economy  paradigm-shifts  2012  news  countries-china 
may 2012 by daguti
The Ideas America Sells To The World : Planet Money : NPR
U.S. exports aren't limited to stuff. We also sell billions of dollars worth of ideas to people around the world.
visualization  piracy-intellectual-property  intellectual-property  economy  economics  countries-united-states-america 
may 2012 by daguti
Why the US is collapsing - Falkvinge on Infopolicy
Found this post back in March 2008. Curious to see how it turns out.

UPDATE 4/4/2012: It seems to be unfolding as stated...

He mentions 2 resources:
A book and a 42 minute video that I want to follow up on and read.
people-rik-falkvinge  me-stuff  money  predictions  government  finance  economy  economic-recession-2008  economics  countries-united-states-america 
march 2011 by daguti
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