dunnettreader + labor_markets   151

To Help Workers Adjust to Technological Change, First Pinpoint Where It Is Happening -
Changes in technology clearly affect people in different sectors and occupations differently, but providing adequate policy support to workers trying to adjust…
technology  Labor_markets  labor_share  productivity  unemployment  from instapaper
march 2018 by dunnettreader
A New Study of Labor Market Concentration - Roosevelt Institute
Labor economists have traditionally focused on worker-side characteristics, such as education, as the crucial causal variable for explaining outcomes like…
Labor_markets  antitrust  monopsony  unemployment  skills  human_capital  wages  Evernote  from instapaper
march 2018 by dunnettreader
New Brandeis Movement: America’s Antimonopoly Debate | Journal of European Competition Law & Practice | Oxford Academic
Over the last two years, a growing number in America have concluded that the United States has a monopoly problem. The Obama Administration’s Council of…
antitrust  monopolies  industry_concentration  competition  Labor_markets  Evernote  from instapaper
march 2018 by dunnettreader
New Study Shows Just How Bad the US Labor Market’s Competition Problem Really Is -
In recent decades, antitrust policy has all but ignored the issue of monopsony power. Yet a new paper shows that across the US economy, labor markets are highly…
Labor_markets  monopsony  labor_share  antitrust  industry_concentration  Evernote  wages  from instapaper
march 2018 by dunnettreader
Antitrust in the Labor Market: Protectionist, or Pro-Competitive? -
Redirecting antitrust enforcement to confront monopsony power would be a substantial departure from the way it has been conducted in recent decades, but just…
Labor_markets  wages  monopsony  antitrust  competition  industry_concentration  Evernote  from instapaper
march 2018 by dunnettreader
Strong Employers and Weak Employees: Study Sheds New Light on How Labor Market Concentration Hurts Workers -
New study finds that wages are significantly lower in concentrated labor markets—and even lower in labor markets where unionization rates are low. Strikers and…
Labor_markets  wages  unions  human_capital  monopsony  antitrust  competition  industry_concentration  Evernote  from instapaper
march 2018 by dunnettreader
Adair Turner - The Skills Delusion | Project Syndicate - Oct 2016
LONDON – Everybody agrees that better education and improved skills, for as many people as possible, is crucial to increasing productivity and living standards…
economic_growth  economic_models  economic_history  inequality  social_mobility  education-higher  education-training  skills  Labor_markets  wages  student_debt  from instapaper
october 2016 by dunnettreader
Nina Boberg-Fazlic & Paul Sharp - Welfare Spending Lessons from Pre-Industrial England | LSE blogs - Oct 2016
Cutting welfare spending is unlikely to lead to an increase in private voluntary work and charitable giving, explain Nina Boberg-Fazlic and Paul Sharp. Using historical data from late eighteenth and early nineteenth century England, they illustrate how parts of the country that saw increased levels of spending under the Poor Laws also enjoyed higher levels of charitable income.
local_government  social_democracy  Poor_Laws  Labor_markets  UK_economy  Tories  welfare  Industrial_Revolution  unemployment  UK_politics  philanthropy  demography  British_history  19thC  economic_history  18thC  agriculture-productivity  landowners  population_growth 
october 2016 by dunnettreader
Peter Solar - Poor Relief and English Economic Development before the Industrial Revolution (1995) | Economic History Review on JSTOR
The English system of poor relief helped to shape the country's distinctive pre-industrial economy. English relief, when set against continental experience, stands out as uniform and comprehensive in coverage; as reliant on local property taxation for funding; and as generous and reliable in benefits. The insurance provided by relief underpinned the growth of a mobile wage-labour force and facilitated changes inland tenure and use. The fiscal impact of relief expenditure gave taxpayers incentives to put labourers to work and to keep local demographic and economic development in balance.
agriculture-productivity  Labor_markets  economic_history  welfare  Industrial_Revolution  local_government  downloaded  jstor  agriculture  18thC  British_history  17thC  Poor_Laws  article  Europe-Early_Modern  19thC  demography  unemployment 
october 2016 by dunnettreader
Does Welfare Spending Crowd Out Charitable Activity? Evidence from Historical England Under the Poor Laws - Boberg-Fazlić - 2015 - The Economic Journal - Wiley Online Library
This study examines the relationship between government spending and charitable activity. We present a novel way of testing the ‘crowding out hypothesis’, making use of the fact that welfare provision under the Old Poor Laws was decided at the parish level, thus giving heterogeneity within a single country. Using data on poor relief spending combined with data on charitable incomes by county before and after 1800, we find a positive relationship: areas with more public provision also enjoyed higher levels of charitable income. These results are confirmed when instrumenting for Poor Law spending and when looking at first differences.
See the LSE blog post that summarizes this study.
bad_economics  British_politics  British_history  Poor_Laws  18thC  budget_deficit  Industrial_Revolution  agriculture  fiscal_policy  Wiley  welfare  Tories  philanthropy  UK_economy  Labor_markets  UK_politics  unemployment  paywall  article  Brexit  19thC  landowners 
october 2016 by dunnettreader
Paolo Malanima - When did England overtake Italy? Medieval and early modern divergence in prices and wages - European Review of Economic History
When did England overtake Italy? Medieval and early modern divergence in prices and wages PAOLO MALANIMA Institute of Studies on Mediterranean Societies (National Research Council), ISSM-CNR, malanima@issm.cnr.it According to Allen, between 1500 and 1750, a “great divergence” among countries in the level of wages occurred in Europe. Italian real wages were already among the lowest in the late medieval and early modern age. Their relative level diminished even more from the seventeenth century. An analysis of prices and wages in Italy and England does not support this view. Actually, until the beginning of the eighteenth century, Italian real wages were either higher than in England (fourteenth and fifteenth centuries) or more or less equal (sixteenth and seventeenth). It was not until the eighteenth century that England began to overtake Italy. However, the disparity in wages before 1800 was modest. It increased fast from then onwards. Downloaded via iPhone to DBOX
labor_history  Italy  15thC  medieval_history  labor_force_structure  competiveness-labor  wages  economic_history  British_history  14thC  economic_growth  downloaded  Renaissance  16thC  Labor_markets  17thC  article  prices  18thC  England 
september 2016 by dunnettreader
Paolo Malanima - Serfdom in Eastern Europe after the Revisions (2013), in S. Cavaciocchi (ed.), Serfdom and Slavery in the European Economy 11th-18th Centuries
Serfdom in Eastern Europe after the Revisions, in S. Cavaciocchi (ed.), Serfdom and Slavery in the European Economy 11th- 18th Centuries, Firenze, Firenze University Press, 2014, II, pp. 677-88. - Multi-day conference - pdf of the paper contains schedule and Table of Contents - Downloaded via iPhone to DBOX
wages  social_order  legal_system  agriculture-surplus  downloaded  Eastern_Europe  labor  jurisdiction  elite_culture  prices  agriculture  nobility  Black_Death  agriculture-productivity  landowners  medieval_history  property_rights  peasants  Europe-Early_Modern  Western_Europe  conference  serfs  agriculture-markets  dispute_resolution  rural  economic_history  access_to_courts  feudalism  contract_law  Labor_markets  tenants  social_history  improvement  food  chapter  political_economy 
september 2016 by dunnettreader
Rafael La Porta and Andrei Shleifer - "Informality and Development" (2014) Journal of Economic Perspectives
In developing countries, informal firms account for up to half of economic activity. They provide livelihood for billions of people. Yet their role in economic development remains controversial with some viewing informality as pent-up potential and others viewing informality as a parasitic organizational form that hinders economic growth. In this paper, we assess these perspectives. We argue that the evidence is most consistent with dual models, in which informality arises out of poverty and the informal and formal sectors are very different. It seems that informal firms have low productivity and produce low- quality products; and, consequently, they do not pose a threat to the formal firms. Economic growth comes from the formal sector, that is, from firms run by educated entrepreneurs and exhibiting much higher levels of productivity. The expansion of the formal sector leads to the decline of the informal sector in relative and eventually absolute terms. A few informal firms convert to formality, but more generally they disappear because they cannot compete with the much more-productive formal firms.
Citation -La Porta, Rafael and Andrei Shleifer. 2014. "Informality and Development." Journal of Economic Perspectives, 28(3): 109-26.
structural_adjustment  informal_economy  LDCs  access_to_finance  article  Labor_markets  doing_business  productivity  tax_avoidance  regulation  poverty_reduction  poverty  tax_policy  access_to_services  conditionality  entrepreneurs  economic_growth  aid  development  formal_economy  industrialization  downloaded 
august 2016 by dunnettreader
Eggertsson, Mehrotra, Singh & Summers - A Contagious Malady? Open Economy Dimensions of Secular Stagnation | NBER June 2016
Gauti B. Eggertsson, Neil R. Mehrotra, Sanjay R. Singh, Lawrence H. Summers - Conditions of secular stagnation - low interest rates, below target inflation, and sluggish output growth - characterize much of the global economy. We consider an overlapping generations, open economy model of secular stagnation, and examine the effect of capital flows on the transmission of stagnation. In a world with a low natural rate of interest, greater capital integration transmits recessions across countries as opposed to lower interest rates. In a global secular stagnation, expansionary fiscal policy carries positive spillovers implying gains from coordination, and fiscal policy is self-financing. Expansionary monetary policy, by contrast, is beggar-thy-neighbor with output gains in one country coming at the expense of the other. Similarly, we find that competitiveness policies including structural labor market reforms or neomercantilist trade policies are also beggar-thy-neighbor in a global secular stagnation.
economic_theory  interest_rates  stagnation  economic_growth  OECD_economies  paywall  capital_flows  paper  international_finance  global_economy  contagion  monetary_policy  FX-rate_management  international_political_economy  competition-interstate  fiscal_policy  fiscal_multipliers  trade-policy  Labor_markets  austerity  competiveness-labor  wages  labor_standards 
july 2016 by dunnettreader
Leonid Bershidsky - Germany's Middle Class Is Endangered, Too - Bloomberg View - May 2016
Manufacturing jobs. Photographer: Sean Gallup/Getty Images Print Europe Leonid Bershidsky is a Bloomberg View columnist. He is a Berlin-based writer, author of…
Instapaper  Labor_markets  labor  middle_class  Germany  job_security  wages  precariat  hollowing_out  manufacturing  OECD_economies  from instapaper
may 2016 by dunnettreader
Mario Bunge, Considérations d'un philosophe sur l'économique du néo-conservatisme néo-libéralisme (1986)
Mario Bunge, “Considérations d'un philosophe sur l'économique du néo-conservatisme (néo-libéralisme)” in ouvrage sous la direction de Lizette Jalbert et Laurent Lepage, Néo-conservatisme et restructuration de l’État. Canada - États-Unis - Angleterre. Première partie : Lectures du néo-conservatisme (pp. 49 à 70) Collection Études d’économie politique. Montréal : Les Presses de l’Université du Québec, 1986, 274 pp.
Downloaded via iPhone to DBOX
social_democracy  capitalism  neoclassical_economics  market_fundamentalism  downloaded  systems_theory  Labor_markets  political_economy  neoconservatism  neoliberalism  post-WWII  etexts  Thatcher  Reagan 
february 2016 by dunnettreader
Mike Konczal, J.W. Mason, Amanda Page-Hoongrajok - Ending Short-Termism: An Investment Agenda for Growth - Roosevelt Institute - Nov 2015
The first part of this agenda will directly counter several of the specific trends known to increase short-termism. It will include ideas that are broadly applicable across industries, such as policies to address skyrocketing CEO pay, as well as more targeted solutions. A policy agenda to address corporate short-termism requires a comprehensive approach focused on building countervailing power, which is addressed in the second part of our proposal. The forces that push firms toward shorttermism will persist and find new ways to exert power, but the reforms outlined in this paper embrace wide-scale, long-term changes, such as granting workers power on boards, designed to attract long-term stakeholders. The agenda also includes practical, simple policy changes for regulators.The third part of our agenda contains solutions that point to a new role for the state. Taxes and full employment are two obvious and necessary ways of checking short-termism, and if companies are less interested in investment, government needs to fill in that gap, whether by providing high-speed cable or funding basic research. -- downloaded pdf to Note
US_economy  investment  investors  capital_markets  corporate_finance  corporate_governance  shareholder_value  shareholders  short-termism  financial_system  equity_markets  capital_formation  capital_allocation  executive_compensation  debt  buybacks  tax_policy  Labor_markets  labor_share  unions  investment-government  downloaded 
november 2015 by dunnettreader
Andrew Haldane: Labour's Share - speech to TUC | Bank of England - Nov 2015 - via Brad DeLong
Good overview of recent work on last 300 years by economic historians and technology impact projections -- lots on internal structural shifts within "labor" and vis a vis capital -- downloaded pdf to Note
speech  economic_history  labor_history  labor_share  Labor_markets  wages  productivity  productivity-labor_share  unemployment  skills  services  AI  IT  unions  UK_economy  monetary_policy  macroeconomic_policy  public_sector  Industrial_Revolution 
november 2015 by dunnettreader
Robert Kuttner - America's Collapsing Trade Initiatives | HuffPost blog - Sept 2015
As Kuttner says, these deals are collapsing under their own (lack of) logic -- though the MNCs that would benefit will do their utmost to keep them alive. The ISDS problem is looking increasingly fatal in the EU - a proposal for a "better" dispute resolution forum is being rejected by both the Friends of the Earth and the US Chamber of Commerce. Kuttner also thinks Canada, regardless of who's the next PM, will struggle to swallow it. The most maddening claim is how the MNCs will accept the US "giving away the store" seen from an American angle of jobs and trade deficits, since their foreign manufacturing operations will benefit.
MNCs  Trans-Pacific-Partnership  investor-State_disputes  FX-rate_management  Labor_markets  wages  Pocket  EU_governance  trade  Transatlantic_Trade_and_InvestmentPartnership  US-China  capital_flows  Obama_administration  China-international_relations  trade-policy  trade-agreements  ISDS  unemployment  US_foreign_policy  FX-misalignment  from pocket
september 2015 by dunnettreader
Gill A. Pratt - Is a Cambrian Explosion Coming for Robotics? (2015) | AEAweb: Journal of Economic Perspectives, 29(3): 51-60.
Affiliation DARPA - About half a billion years ago, life on earth experienced a short period of very rapid diversification called the "Cambrian Explosion." Many theories have been proposed for the cause of the Cambrian Explosion, one of the most provocative being the evolution of vision, allowing animals to dramatically increase their ability to hunt and find mates. Today, technological developments on several fronts are fomenting a similar explosion in the diversification and applicability of robotics. Many of the base hardware technologies on which robots depend—particularly computing, data storage, and communications—have been improving at exponential growth rates. Two newly blossoming technologies—"Cloud Robotics" and "Deep Learning"—could leverage these base technologies in a virtuous cycle of explosive growth. I examine some key technologies contributing to the present excitement in the robotics field. As with other technological developments, there has been a significant uptick in concerns about the societal implication of robotics and artificial intelligence. Thus, I offer some thoughts about how robotics may affect the economy and some ways to address potential difficulties. -- downloaded pdf to Note
article  technology  technology-adoption  tech-mobile_phones  Tech/Culture  robotics  Labor_markets  labor_standards  labor_law  wages  social_process  change-economic  change-social  government-roles  military-industrial_complex  DARPA  investment-government  AI  IT  cloud  telecommunications  downloaded 
september 2015 by dunnettreader
Tim O'Reilly - The WTF Economy
We need a focused, high-level conversation about the deep ways in which computers and their ilk are transforming how we do business, how we work, and how we live. Just about everyone’s asking WTF? (“What the F***?” but also, more charitably “What’s the future?”) That’s why I’m launching a new event called Next:Economy (What’s The Future of Work?), to be held at the Palace Hotel in San Francisco Nov 12 and 13, 2015. My goal is to shed light on the transformation in the nature of work now being driven by algorithms, big data, robotics, and the on-demand economy.
politics-and-technology  careers  Tech/Culture  labor  global_economy  gig_economy  state-and-technology  Labor_markets  globalization  education-continuing  conference  tech-mobile_phones  Pocket  labor_standards  education-training  from pocket
august 2015 by dunnettreader
John Dunn, ed. - The Economic Limits to Modern Politics (1992) | Cambridge University Press
The central problem of modern government and political action is how to choose and implement effective economic policies. For this reason, the economic considerations of public policy have assumed a more prominent place in contemporary political thought. Despite efforts among political scientists, economists, and sociologists to fathom the complexities of this added dimension, none of these solid sciences offers a satisfying approach to the problem. This volume attempts to display the historical novelty and intellectual importance of this dilemma, to uncover its origins, and to procure a remedy through a clearer and steadier focus. The book's contributors range from historians of ideas to economic theorists, who bring the approach of their own intellectual discipline to bear upon the issue. **--** Introduction, John Dunn *-* 1. The economic limits to modern politics, John Dunn *-* 2. The wealth of one nation and the dynamics of international competition, Istvan Hont *-* 3. The political limits to pre-modern politics, J. G. A. Pocock *-* 4. The economic constraints on political programs, Frank H. Hahn *-* 5. International liberalism reconsidered, Robert O. Keohane *-* 6. Capitalism, socialism, and democracy: compatibilities and contradictions John Dunn. -- ebook Adobe Reader - not clear whether in kindle format -- excerpt (10 ogs Intro) downloaded pdf to Note
books  kindle-available  17thC  18thC  19thC  20thC  intellectual_history  economic_history  political_history  political_philosophy  political_economy  judgment-political  public_policy  capitalism  competition-interstate  economic_growth  development  raison-d'-état  British_history  British_politics  British_Empire  trade  trade-policy  Great_Divergence  economic_theory  political_culture  economic_culture  macroeconomic_policy  Innovation  innovation-government_policy  collective_action  property_rights  Labor_markets  redistribution  fiscal_policy  fiscal-military_state  Davenant  Smith  social_order  social_democracy  liberalism  elites-political_influence  IR_theory  globalization  international_political_economy  public_finance  public_goods  class_conflict  downloaded 
august 2015 by dunnettreader
Emmanuel Mourlon-Druol - La zone euro est-elle viable? Une perspective historique - La Vie des idées - 20 mai 2014
La crise de la zone euro a révélé les faiblesses constitutives de la monnaie unique ; mais les débats portant sur sa viabilité se limitent trop souvent à une vision purement économique de la zone euro. L’histoire complexe de la création de l’euro éclaire les enjeux financiers et politiques internationaux de l’unification monétaire. -- in many ways it's the same-old, same-old -- a group of countries with intense economic interaction that gets whip-sawed by exchange rates in a constantly evolving world that's increasingly globalized, especially capital movements -- under a series of arrangements from Bretton Woods onwards, they've been trying to manage or mitigate the problem, but they never solve it -- he repeatedly notes that the entire EC budget isn't more than 1% of the aggregate GNP of the member states -- useful aide-mémoire for each step in the evolution of the EU and European money arrangements paralled with each modification of the international monetary system -- though he notes repeatedly that finance is extremely mobile, not only within the Eurozone or within the EU but globally, and that labor and fiscal adjustments are extremely immobile within the Eurozone by comparison, he doesn't draw the obvious link of these severe mismatches to the repeated problems the EU has faced re money -- downloaded pdf to Note
article  economic_history  political_history  European_integration  post-WWII  post-Cold_War  international_monetary_system  Bretton_Woods  EU_governance  FX  FX-rate_management  FX-misalignment  Eurozone  Eurocrsis  Great_Recession  financial_crisis  sovereign_debt  Europe-federalism  EU-regulation  cross-border  Labor_markets  banking  ECB  EU-elections  political_participation  EU-Parliament  EU-parties  monetary_union  monetary_theory  international_economics  capital_flows  capital_controls  EU-fiscal_policy  convergence-econimic  fiscal_policy  Maastricht  downloaded 
july 2015 by dunnettreader
Hyun-Sung Khang - Help Wanted -- Finance & Development, June 2015
Pretty balanced discussion of youth labor market problems, challenging the excuses of "skills mismatch" and overly burdensome labor regulations. In the F&D issue downloaded as pdf to Note
article  unemployment  unemployment-youth  skills  Labor_markets  labor_standards  labor_law  education-training  austerity  Eurozone  Eurocrsis  hysterisis  migration  Great_Recession  economic_growth  economic_sociology  downloaded 
july 2015 by dunnettreader
VOX ebook -The Age of Global Value Chains: Maps and Policy Issues | VOX, CEPR’s Policy Portal -July 2015
João Amador, Filippo di Mauro -- Global value chains (GVCs) - referring to the cross-border flows of goods, investment, services, know-how and people associated with international production networks - have transformed the world. Their emergence has resulted in a complete reconfiguration of world trade, bearing a strong impact on the assessment of competitiveness and economic policy. The contributions to this eBook are based on research carried out within the scope of the Eurosystem Competitiveness Research Network (CompNet), bringing together participants from EU national central banks, universities and international organisations interested in competitiveness issues. The mapping of GVCs and full awareness about their implications are essential to informed public debate and improved economic policy.-- downloaded pdf to Note
books  global_economy  cross-border  globalization  supply_chains  global_value_chains  economic_sociology  trade-policy  competitiveness  competition-interstate  manufacturing  transport  transaction_costs  tax_policy  business_practices  business_processes  economic_policy  development  development-impact  labor_standards  Labor_markets  downloaded 
july 2015 by dunnettreader
Arash Nekoei, Andrea Weber - Unemployment benefits and job match quality | VOX, CEPR’s Policy Portal 10 - July 2015
The generosity of unemployment insurance is often cited as a reason for long spells of joblessness. But this view neglects other important, and potentially positive, economic aspects of such programmes. Using Austrian data, this column presents evidence that unemployment insurance has a positive effect on the quality of jobs that recipients find. This can in turn have a positive effect on future tax revenues, and has implications for the debate on optimal insurance generosity.
Labor_markets  unemployment  employee_benefits  safety_net 
july 2015 by dunnettreader
Rand Ghayad - US labour market: Broken with and without unemployment benefits | VOX, CEPR’s Policy Portal - 22 July 2013
Will US unemployment benefits help or hinder those out of work? Much recent economic theory suggests that benefits reduce people’s likelihood of getting work. This column presents new research that looks in detail at various types of unemployment – job loser, job leaver, new entrant, re-entrant – suggesting that there is a limit to the extent that unemployment benefits reduce the amount of effort put into searching for a new job. The increase in the unemployment rate relative to job openings will persist when unemployment benefit programmes expire.
US_economy  Great_Recession  Labor_markets  stagnation  unemployment  safety_net 
july 2015 by dunnettreader
Jesse Rothstein - The Great Recession and its aftermath: What role do structural changes play? - Washington Center for Equitable Growth - July 6, 2015
My research, based on a review of extensive data on labor market outcomes since the end of the Great Recession of 2007-2009, finds no basis for concluding that the recent trend of stagnant wages and low employment is the “new normal.” Rather, the data point to continued business cycle weakness as the most important determinant of workers’ outcomes over the past several years. It is only in the past few months that we have started to see data consistent with growing labor market tightness, and even this trend is too new to be confident. The continued stagnation of wages through the end of 2014 implies that, at a minimum, a fair amount of slack remained in the labor market as of that late date. In turn, policies that would promote faster recoveries and encourage aggregate demand during and after recessions remain key policy tools. -- didn't download
paper  US_economy  Great_Recession  Labor_markets  stagnation 
july 2015 by dunnettreader
Felix Salmon - Uber for benefits: An idea that could transform America’s economy
http://fusion.net/story/156255/uber-for-benefits-an-idea-which-could-transform-americas-economy/ -- picjs up proposal from recent Democracy Journal - a sort of micropayments and portable benefits account system - though couldn't have every job with a different bargain for health insurance, retirement savings, vacation, sick leave, parental time etc without a central benefits minimum schedule and central accounts management -' and if have private firms compete for signing up individuals, who's going to guarantee they won't go bankrupt, or wind up with Chilean style system where a big surplus cut from individuals to pay for sales expenses, etc.
Instapaper  Labor_markets  labor_standards  pensions  health_care  sharing_economy  employers  work-life_balance  welfare_state  employee_benefits  from instapaper
june 2015 by dunnettreader
Bert Useem and Anne Morrison Piehl - Prison State: The Challenge of Mass Incarceration | Cambridge University Press - March 2008
Bert Useem, Purdue University, Indiana -- Anne Morrison Piehl, Rutgers University, New Jersey -- Paperback isbn: 9780521713399 -- Within the past 25 years, the prison population in America shot upward to reach a staggering 1.53 million by 2005. This book takes a broad, critical look at incarceration, the huge social experiment of American society. The authors investigate the causes and consequences of the prison buildup, often challenging previously held notions from scholarly and public discourse. By examining such themes as social discontent, safety and security within prisons, and impact on crime and on the labor market, Piehl and Useem use evidence to address the inevitable larger question, where should incarceration go next for American society, and where is it likely to go? **--** Table of Contents -- 1. The buildup to mass incarceration -- 2. Causes of the prison buildup -- 3. More prison, less crime? -- 4. Prison buildup and disorder -- 5. The buildup and inmate release -- 6. Implications of the buildup for labor markets -- 7. Conclusion: right-sizing prison. -- via Mark Kleiman re after a certain percentage of the population incarcerated, each marginal convict you add actually increases the crime rate, due to both internal factors (prisons breed criminals) and external impacts on the community from which prisoners are being taken -- excerpt downloaded pdf to Note
books  US_history  US_society  US_legal_system  US_politics  social_history  20thC  21stC  crime  criminal_justice  prisons  Labor_markets  racism  discrimination  poverty  inequality  law_enforcement  privatization  police  legislation  judiciary  state_government  urban_politics  cities-governance  downloaded 
june 2015 by dunnettreader
Nicolas Duvoux, interview with Erik Olin Wright - Analytic Marxism and Real Utopias | Books & ideas - 16 November 2012
Erik Olin Wright is a prominent American sociologist and the last president of the American Sociological Association. In this interview, E. O. Wright explains the nature of "analytic Marxism”, which renewed the study of Marxism in the late 1970s and 1980s, and comes back on a more recent project called “ Envisioning Real Utopias”, which focuses on radical emancipatory alternatives to existing social structures. -- downloaded pdf to Note
social_theory  Marxist-analytical  social_sciences-post-WWII  methodology  sociology  classes  class_conflict  capitalism  capitalism-alternatives  Labor_markets  labor  labor_share  cooperation  worker_co-ops  open_source  social_movements  social_order  change-social  change-economic  downloaded 
june 2015 by dunnettreader
Ravi Kanbur, Michael Keen - Rethinking informality | VOX, CEPR’s Policy Portal - 05 June 2015
The ‘informal’ economy presents a key challenge for developing-nation policymakers due to its labour-market and tax-revenue implications. Informality is usually defined as the complement to formality, i.e. any activity that isn’t covered by a clear set of laws. This column argues that such a definition risks obscuring more than it reveals, by failing to understand and address the varieties of informality that exist. Sensible policy should focus on tailored interventions across different categories of taxpayer, not on reducing aggregate informality. -- nice way of looking at policy objectives - it's not just revenue collection, there's interactions with other types of regulation - they highlight labor laws, but lots of the "doing business" projects uncover many other regulatory compliance issues in developing countries that would interact as well
Instapaper  paper  development  regulation  regulation-enforcement  regulation-costs  informal_sectors  Labor_markets  labor_law  labor_standards  tax_policy  tax_collection  SMEs  micro-enterprises  doing_business 
june 2015 by dunnettreader
Charles A.E. Goodhart, Philipp Erfurth - Monetary policy and long-term trends | VOX, CEPR’s Policy Portal - 03 November 2014
There has been a long-term downward trend in labour’s share of national income, depressing both demand and inflation, and thus prompting ever more expansionary monetary policies. This column argues that, while understandable in a short-term business cycle context, this has exacerbated longer-term trends, increasing inequality and financial distortions. Perhaps the most fundamental problem has been over-reliance on debt finance. The authors propose policies to raise the share of equity finance in housing markets; such reforms could be extended to other sectors of the economy. -- downloaded page as pdf to Note
macroeconomics  global_economy  globalization  labor_share  Labor_markets  inequality-global  inequality  inequality-wealth  OECD_economies  wages  housing  mortgages  debt  debt-overhang  asset_prices  interest_rates  bubbles  real_estate  equity-corporate  equity_markets  central_banks  monetary_policy  financial_system  financial_crisis  LTV  downloaded 
may 2015 by dunnettreader
Toby Nangle - Labour power sets the neutral real rate | VOX, CEPR’s Policy Portal - 09 May 2015
The recent remarkably low interest rates have puzzled economists. The standard explanation rests on the extraordinary manoeuvres of the world’s largest central banks. This column argues, however, that it is due to economic developments, specifically globalisation and the collapse in labour power in the west. -- downloaded page as pdf to Note
macroeconomics  global_economy  globalization  labor_share  Labor_markets  inequality-global  inequality  OECD_economies  interest_rates  asset_prices  investment  capital  stagnation  central_banks  capital_markets  China-economy  off-shoring  downloaded 
may 2015 by dunnettreader
Martens, Rusconi and Leuze, eds. - New Arenas of Education Governance: The Impact of International Organizations and Markets on Educational Policy Making | Palgrave Macmillan - November 2007
Edited by Kerstin Martens, Alessandra Rusconi, Kathrin Leuze -- How and to what extent is education becoming a field of international and market governance? Traditionally, education policy making has been viewed as the responsibility of the nation state, falling within the realm of domestic politics. But recent years have witnessed the transformation of the state. Globalization has introduced new actors and led to the internationalization and marketization of education. This volume provides the most comprehensive and up-to-date account of these new arenas of education governance, examining the impact of international organizations and the role of the market in policymaking. It demonstrates how education policy is formulated at international levels and what the consequences for national policy making will be. -- excerpt = TOC, Introduction and index -- downloaded pdf to Note
books  public_policy  education  education-higher  education-training  education-privatization  education-finance  international_organizations  globalization  markets_in_everything  market_fundamentalism  privatization  public_goods  governance  global_governance  business-and-politics  business_influence  education-civic  values  accountability  Labor_markets  human_capital  competition  competition-interstate  development  distance_learning  IT  communication  nation-state  national_ID  knowledge_economy  OECD  World_Bank  WTO  trade-policy  trade-agreements  student_debt  democracy_deficit  political_participation  EU  EU_governance  standards-setting  testing  downloaded 
may 2015 by dunnettreader
Ravi Balakrishnan and Juan Solé - Close But Not There Yet: Getting to Full Employment in the United States | IMFdirect May 2015
By Ravi Balakrishnan and Juan Solé (Version in Español) Last month’s report on U.S. jobs was disappointing, with far fewer jobs than expected added in March. A… Nice roundup of all the bits of data that show a lot more slack than headline unemployment rate suggests
US_economy  Labor_markets  unemployment  data  statistics  Instapaper  from instapaper
may 2015 by dunnettreader
Steve Cecchetti and Kim Schoenholtz - Zero matters — Money, Banking and Financial Markets - April 2015
What to conclude? Fears of deflation can surely be overdone: the economic impact of annual price changes of -0.1% would be difficult to distinguish from changes of +0.1%. It would take nearly 700 years for the price level to halve or to double at this pace! Yet, policymakers are warranted in taking the view that even mild deflations of 1% or 2% annually are meaningfully different from comparable inflations. Conventional monetary policy tools – adjusting nominal interest rates – are ill-suited to restoring price stability in the face of modest single-digit deflation. And the presence of downward wage rigidities makes things even worse. -- nice collection of historical and comparative data -- copied to Pocket
economic_theory  macroeconomics  monetary_policy  ZLB  wages  wages-sticky  inflation  inflation-expectations  deflation  interest_rates  economic_growth  economic_culture  Labor_markets  Great_Recession  Pocket 
april 2015 by dunnettreader
Ben Zipperer - How raising the minimum wage ripples through the workforce | Washington Center for Equitable Growth - April 2015
Summary of research by several economists -- the failure to index the minimum wage has been a big part of increasing inequality at the bottom of the income distribution, especially for wonen. Discusses the ripple effects that have fully dissipated by the 25th percentile -- charts and pdf available
US_economy  economic_history  20thC  21stC  post-Cold_War  wages  wages-minimum  gender_gap  inequality  Labor_markets 
april 2015 by dunnettreader
Alan Manning - Shifting the Balance of Power: Workers, Wages and Employers over the Next Parliament | Resolution Foundation - April 2015
Professor of Economics in the Department of Economics and Director of the Community Programme at the Centre for Economic Performance at the LSE -- 40 years ago an improving labour market and prices rising faster than wages would have led trade unions to march into the boardroom demanding higher wages and threatening strike action if those demands were not met. Pretty soon, union leaders would have been invited round to Number 10 for beer and sandwiches to be cajoled into wage moderation to prevent an inflationary spiral taking hold. A lot has changed in the past 40 years.These days the Prosecco remains in the fridge and David Cameron used a speech to the British Chambers of Commerce in February to urge pay rises for workers, a somewhat surprising sight. But, there is a simple explanation. Since the crisis began, the average British worker has suffered a fall in living standards deeper and longer than anything experienced for more than a generation. The recent drop in oil prices and the resulting lower inflation will offer some respite but not much. -- Comparing the situation now and 40 years ago, it is hard to escape the conclusion that there has been a fundamental shift in the balance of power from workers to employers and that perhaps this shift has gone too far and it is time to redress the balance somewhat. -- copied to Pocket
article  political_economy  UK_economy  labor_history  Labor_markets  unemployment  wages  profit  productivity  productivity-labor_share  inequality  unions  British_politics  standard_of_living  employers  working_class  competition  Pocket 
april 2015 by dunnettreader
Lisa Herzog Inventing the Market: Smith, Hegel, and Political Theory (OUP 2013) | The Book Depository
Inventing the Market: Smith, Hegel, and Political Theory analyses the constructions of the market in the thought of Adam Smith and Georg Wilhelm Friedrich Hegel and discusses their relevance for contemporary political philosophy. Combining the history of ideas with systematic analysis, it contrasts Smith's view of the market as a benevolently designed 'contrivance of nature' with Hegel's view of the market as a 'relic of the state of nature.' The differences in their views of the market are then connected to four central themes of political philosophy: identity, justice, freedom, and history. The conceptualization of the labour market as an exchange of human capital or as a locus for the development of a professional identity has an impact on how one conceptualizes the relation between individual and community. Comparing Smith's and Hegel's views of the market also helps to understand how social justice can be realized through or against markets, and under what conditions it makes sense to apply a notion of desert to labour market outcomes. For both authors, markets are not only spaces of negative liberty, but are connected to other aspects of liberty, such as individual autonomy and political self-government, in subtle and complex ways. Seeing Smith's and Hegel's account of the market as historical accounts, however, reminds us that markets are no a-historical phenomena, but depend on cultural and social preconditions and on the theories that are used to describe them. The book as a whole argues for becoming more conscious of the pictures of the market that have shaped our understanding, which can open up the possibility of alternative pictures and alternative realities. -- see 3AM interview April 2015
books  intellectual_history  18thC  19thC  Smith  Hegel  political_philosophy  political_economy  economic_history  economic_theory  economic_sociology  economic_culture  social_theory  liberty  liberty-negative  autonomy  labor  Labor_markets  social_order  justice  identity  self-government  self-development  self-interest  self-fashioning  state-of-nature  Providence  invisible_hand 
april 2015 by dunnettreader
Rajiv Sethi: Innovation, Scaling, and the Industrial Commons - July 2010
When Yves Smith makes a strong reading recommendation, I usually take notice. Today she directed her readers to an article by Andy Grove calling for drastic changes in American policy towards innovation, scaling, and job creation in manufacturing. The piece is long, detailed and worth reading in full, but the central point is this: an economy that innovates prolifically but consistently exports its jobs to lower cost overseas locations will eventually lose not only its capacity for mass production, but eventually also its capacity for innovation: - interesting discussion in updates and comments
US_economy  US_politics  Labor_markets  unemployment  trade-policy  trade-theory  off-shoring  manufacturing  Innovation  technology  technology_transfer  industrial_policy 
march 2015 by dunnettreader
Tom Walker - EconoSpeak: The Hours of Labour and the Problem of Social Cost - Jan 2015
Coase argued that the suggested courses of action in the Pigovian tradition – liability, taxation or regulation – were inappropriate and often undesirable.(..) However, Coase didn't consider the full range of Pigou's examples and analysis. While Coase’s restatement of the problem may have been appropriate to the specific externality problems discussed by Pigou in part II, it entirely overlooked the radically different labour market problem encountered in part III, in which competitive pressure compels an employing firm to inflict harm on both itself and its employees and thus regulatory restraint of the firm (and competing employers) may benefit both. -- downloaded pdf to Note
paper  economic_theory  economic_sociology  intellectual_history  welfare_economics  institutional_economics  Coase  markets  markets-structure  property_rights  transaction_costs  externalities  competition  Labor_markets  social_costs  cost-benefit  regulation-costs  collective_action  common_good  efficiency  labor_law  wages  labor_standards  downloaded  EF-add 
january 2015 by dunnettreader
Andrew Sprung - Reagan Revolution rollback | xpostfactoid - Jan 2015
Thanks largely to Piketty it's become increasingly clear that in the Reagan Revolution, middle class America sold its birthright for a mess of supply-side pottage. Dems willingness to credit GOP dogma -- raising taxes on high incomes and investment gains inhibits growth, deregulation spurs it -- are melting away. Post midterm losses, Dems are beginning to heighten rather than soft-pedal the policy contrasts between the parties. Wounded politically by perceptions that the ACA helps the poor at the expense of working people, they are looking for proposals attractive to the middle class. Emboldened by accelerating growth and employment gains, they are perhaps shedding inhibitions about leveling the playing field between workers and management. (..)To mess up my timeline a bit, Obama delivered a Pikettian narrative in Dec 2013 ..should have been a landmark speech on inequality (..) if he (and Dems) hadn't (tried to) protect their Senate majority. [In the Dec 2013 soeech] Obama zeroed in on policy choices. "As values of community broke down and competitive pressure increased, businesses lobbied Washington to weaken unions and the value of the minimum wage. As the trickle-down ideology became more prominent, taxes were slashes for the wealthiest while investments in things that make us all richer, like schools and infrastructure, were allowed to wither. And for a certain period of time we could ignore this weakening economic foundation (..) But when the music stopped and the crisis hit, millions of families were stripped of whatever cushion they had left. And the result is an economy that’s become profoundly unequal and families that are more insecure. -- terrific links roundup
US_economy  US_politics  Obama  Obama_administration  Reagan  supply-side  trickle-down  neoliberalism  inequality  middle_class  wages  wages-minimum  labor  labor_law  labor_share  labor_standards  Labor_markets  investment  executive_compensation  1-percent  infrastructure  education  education-higher  civic_virtue  common_good  Piketty  economic_growth  economic_culture  distribution-income  distribution-wealth  unemployment  health_care  public_goods  public_opinion  public_policy  elections  political_culture  political_economy  political_discourse  political_participation  Pocket 
january 2015 by dunnettreader
Laurent Belsie - The Link between High Employment and Labor Market Fluidity | NBER Digest - Jan 2015
Declining rates of creative destruction and factor reallocation raise concerns about future productivity growth and youth employment. U.S. labor markets lost much of their fluidity well before the onset of the Great Recession, according to Labor Market Fluidity and Economic Performance (NBER Working Paper No. 20479). The economy's ability to move jobs quickly from shrinking firms to young, growing enterprises slowed after 1990. Job reallocation rates fell by more than a quarter. After 2000, the volume of hiring and firing - known as the worker reallocation rate - also dropped. The decline was broad-based, affecting multiple industries, states, and demographic groups. The groups that suffered the most were the less-educated and the young, particularly young men.
US_economy  economic_history  1990s  2000s  2010s  links  creative_destruction  labor_markets  unemployment  wages  competition  firm-theory  economic_growth 
january 2015 by dunnettreader
Ruben Andersson - TIME TO UNFENCE OUR VIEW OF MIGRATION | Pandaemonium
Ruben Andersson is an anthropologist at LSE’s Civil Society and Human Security Research Unit, and the author of Illegality, Inc: Clandestine migration and the business of bordering Europe. He recently published a post on the LSE politics blog which described how immigration border fences feed the very problem they supposedly address. I am delighted to be able to republish it on Pandaemonium.
Ruben Andersson -- Migration panic is upon Calais yet again. Amid desperate and determined attempts by refugees and migrants to clamber over fences or scramble to reach UK-bound ferries, the media have over the past month painted a picture of yet another impending invasion. Police have launched crackdowns; far-right extremists have massed on the city; and French politicians have lobbied hard for a stronger British involvement in controls. In response to the chaos, the UK first offered to send France the ‘ring of steel’ fences recently used at the NATO summit; now it has pledged £12m over three years, earmarked – among other things – for the building of robust security barriers around Calais port. Fencing, the UK immigration minister has made clear, is one key element in efforts to ‘send out a very clear message… [that] Britain is no soft touch when it comes to illegal immigration’. -- Ruben Andersson’s book Illegality, Inc will be launched at the LSE on 14 October with a public discussion, Secure the borders: The cost and consequences of Europe’s ‘fight against irregular migration’. He tweets at @Ruben_Andersson. -- lots of links including absurd US SBI
21stC  nation-state  geography  migration  Labor_markets  EU  EU_governance  right-wing  EU-foreign_policy  US_government  US_politics  links 
october 2014 by dunnettreader
Nitzan, Jonathan - LSE Public Event: Can Capitalists Afford Recovery? -- Video and Paper (May 2014) | bnarchives
Presentation at the LSE Department of International Relations. 27 May 2014. -- Theorists and policymakers from all directions and of all persuasions remain obsessed with the prospect of recovery. For mainstream economists, the key question is how to bring about such a recovery. For heterodox political economists, the main issue is whether sustained growth is possible to start with. But there is a prior question that nobody seems to ask: can capitalists afford recovery in the first place? If we think of capital not as means of production but as a mode of power, we find that accumulation thrives not on growth and investment, but on unemployment and stagnation. And if accumulation depends on crisis, why should capitalists want to see a recovery? -- Video duration: 2:24 hours -- Keywords: crisis, differential accumulation, economic policy, economic theory, expectations, growth, income distribution, Keynesianism, Marxism, monetarism, neoclassical economics, profit, underconsumption -- Subjects: BN State & Government, BN Power, BN Region - North America, BN Business Enterprise, BN Value & Price, BN Crisis, BN Production, BN Macro, BN Conflict & Violence, BN Money & Finance, BN Ideology, BN Distribution, BN Methodology, BN Capital & Accumulation, BN Policy, BN Class, BN Labour, BN Growth -- links to LSE on YouTube -- downloaded pdf to Note
paper  video  Great_Recession  financial_crisis  economic_growth  capital_as_power  capitalism-systemic_crisis  economic_theory  economic_models  macroeconomics  neoclassical_economics  Keynesian  Marxist  monetarism  monetary_policy  fiscal_policy  austerity  sovereign_debt  public_finance  public_policy  productivity  production  consumer_demand  underconsumption  investment  profit  productivity-labor_share  distribution-income  distribution-wealth  finance_capital  financialization  capitalization  accumulation  accumulation-differential  elites-self-destructive  elite_culture  ruling_class  class_conflict  Labor_markets  inequality  unemployment 
october 2014 by dunnettreader
Hyeng-Joon Park - Korea’s Post-1997 Restructuring: An Analysis of Capital as Power | forthcoming in Review of Radical Political Economics (2015) pp. 1-44 | bnarchives
This paper aims to transcend current debates on Korea’s post-1997 restructuring, which rely on a dichotomy between domestic industrial capital and foreign financial capital, by adopting Nitzan and Bichler’s capital-as-power perspective. Based on this approach, the paper analyzes Korea’s recent political economic restructuring as the latest phase in the evolution of capitalist power and its transformative regimes of capital accumulation. -- Keywords: differential accumulation dominant capital chaebols transnationalization strategic sabotage -- Subjects: BN State & Government, BN Institutions, BN Power, BN International & Global, BN Region - Asia, BN Business Enterprise, BN Value & Price, BN Crisis, BN Production, BN Conflict & Violence, BN Money & Finance, BN Distribution, BN Comparative, BN Capital & Accumulation, BN Policy, BN Class, BN Labour, BN Growth -- downloaded from author's blog to Note
article  international_political_economy  capital_as_power  globalization  Korea  East_Asia  20thC  21stC  economic_history  1990s  2000s  2010s  Asian_crisis  Asia_Pacific  international_finance  FDI  finance_capital  financialization  emerging_markets  oligopoly  chaebols  crony_capitalism  industry  production  capitalism  capitalism-systemic_crisis  capitalization  accumulation  distribution-income  distribution-wealth  cross-border  trade  productivity-labor_share  class_conflict  labor_share  Labor_markets  unions  violence  economic_growth  sabotage-by_business  business-and-politics  business-norms  power-asymmetric  public_policy  public_goods  corporate_finance  corporate_ownership  investment  banking  political_culture  economic_culture  economic_reform  economic_policy  democracy  opposition  downloaded  EF-add 
october 2014 by dunnettreader
Charles Evans - Patience Is a Virtue When Normalizing Monetary Policy | Federal Reserve Bank of Chicago - September 2014
As I think about the process of normalizing policy, I conclude that today’s risk-management calculus says we should err on the side of patience in removing highly accommodative policy. We need to solidify our confidence that our ultimate exit from the zero lower bound will occur smoothly — and in a way that sustains our escape from it. A corollary to this is we should not shy away from policy prescriptions that generate forecasts of inflation that moderately overshoot our 2 percent target for a limited time. Such a policy strategy more properly balances expected costs and benefits. And it would leave me with much more confidence that inflation will not stall out below target once we start raising rates. I agree with Atlanta Fed President Lockhart in thinking that we ought to be “whites of their eyes” inflation fighters. The last thing we want to do is regress back into the ZLB. Indeed, such a relapse would be a sign there was something else going on that was preventing the economy from being as vibrant as we thought possible. To summarize, I am very uncomfortable with calls to raise our policy rate sooner than later. I favor delaying liftoff until I am more certain that we have sufficient momentum in place toward our policy goals. And I think we should plan for our path of policy rate increases to be shallow in order to be sure that the economy’s momentum is sustainable in the presence of less accommodative financial conditions. '- downloaded pdf to Note
US_economy  Fed  monetary_policy  unemployment  inflation  Phillips_curve  interest_rates  Labor_markets  wages  deleverage  financial_system  QE  Great_Depression  Eurozone  central_banks  downloaded  EF-add 
october 2014 by dunnettreader
Roy H. Grieve, ‘Right back where we started from’ | Real-World Economics Review Blog September 2014
Roy H. Grieve, “‘Right back where we started from’: from ‘the Classics’ to Keynes, and back again”, real-world economics review, issue no. 68, 21 August 2014, pp. 41-61, http://www.paecon.net/PAEReview/issue68/Grieve68.pdf -- We have indeed come round in a circle. The whole vision of the working of the macrosystem presented, in terms of the AD/AS model, by far too many contemporary textbooks, is essentially pre-Keynesian. Monetary spending may fluctuate, but whether or not such fluctuations affect employment and output is said to depend on reactions affecting real wages. Slow adjustment of money wages to price changes is held to account for cyclical variations in employment and output. With respect to the longer term, it is presumed that real wages return to their proper full-employment level. There are then no obstacles on the side of demand to prevent re-establishment of the ‘natural’ (full employment) level of activity. The pale shadow of Keynesian theory in the ADAS model – the AD curve – has nothing to do with the values of output and employment at equilibrium, only with the price level. -- downloaded pdf to Note
paper  economic_theory  economic_models  macroeconomics  neoclassical_economics  Keynes  Keynesianism  Labor_markets  wages  unemployment  prices  inflation  deflation  real_economy  economic_growth  business_cycles  equilibrium  downloaded  EF-add 
september 2014 by dunnettreader
theAIRnet.org - Home
The Academic-Industry Research Network – theAIRnet – is a private, 501(c)(3) not-for-profit research organization devoted to the proposition that a sound understanding of the dynamics of industrial development requires collaboration between academic scholars and industry experts. We engage in up-to-date, in-depth, and incisive research and commentary on issues related to industrial innovation and economic development. Our goal is to understand the ways in which, through innovation, businesses and governments can contribute to equitable and stable economic growth – or what we call “sustainable prosperity”.
website  economic_growth  industry  technology  Innovation  green_economy  development  business  business-and-politics  capitalism  global_economy  public-private_partnerships  public_policy  public_health  public_goods  urban_development  health_care  IP  Labor_markets  wages  unemployment  education-training  sustainability  financial_system  corporate_citizenship  corporate_governance  corporate_finance  CSR  firms-theory  management  plutocracy  MNCs  international_political_economy  human_capital  OECD_economies  emerging_markets  supply_chains  R&D  common_good  1-percent  inequality  working_class  work-life_balance  workforce  regulation  regulation-harmonization  incentives  stagnation 
september 2014 by dunnettreader
The 21st Century Investor: Ceres Blueprint for Sustainable Investing — Ceres
Unprecedented risks to the global economy make this a challenging time for the 21st century investor—institutional asset owners and their investment managers—most of which have multi-generational obligations to beneficiaries. Climate change, resource scarcity, population growth, energy demand, ensuring the human rights of workers across global supply chains, and access to fresh water are some of the major issues challenging our ability to build a sustainable economy, one that meets the needs of people today without compromising the needs of future generations. -- This Blueprint is written for the 21st Century investor— institutional asset owners and their investment managers—who need to understand and manage the growing risks posed by climate change, resource scarcity, population growth, human and labor rights, energy demand and access to water—risks that will challenge businesses and affect investment returns in the years and decades to come. -- section of Ceres website devoted to investor related initiatives - proxy voting guides, etc - and corporate and public finance isuues, such as sustainability risk disclosure, listing srandards, Climate Bonds Principles -- downloaded pdf of executive summary of report
report  climate  energy  water  ocean  demography  supply_chains  global_economy  global_governance  sustainability  financial_system  capital_markets  institutional_investors  corporate_governance  corporate_finance  public_finance  investors  disclosure  asset_management  political_economy  international_political_economy  Labor_markets  human_rights  downloaded  EF-add 
september 2014 by dunnettreader
Lance Taylor - Maynard's Revenge: The Collapse of Free Market Macroeconomics (2011) | Harvard University Press
Taylor argues that the ideas of J.M. Keynes and others provide a more useful framework both for understanding the crisis and for dealing with it effectively. Keynes’s basic points were fundamental uncertainty and the absence of Say’s Law. He set up machinery to analyze the macro economy under such circumstances, including the principle of effective demand, liquidity preference, different rules for determining commodity and asset prices, distinct behavioral patterns of different collective actors, and the importance of thinking in terms of complete macro accounting schemes. Economists working in this tradition also worked out growth and cycle models. Employing these ideas throughout Maynard’s Revenge, Taylor provides an analytical narrative about the causes of the crisis, and suggestions for dealing with it. 1. Macroeconomics. 2. Macroeconomic Thought during the Long 19thC. 3. Gold Standard, Reparations, Mania, Crash, and Depression. 4. Maynard Ascendant. 5. Keynesian Growth, Cycles, and Crisis. 6. The Counterrevolution. 7. Finance. 8. The International Dimension. 9. Keynesianism and the
books  intellectual_history  economic_theory  economic_history  economic_models  18thC  19thC  20thC  social_sciences-post-WWII  entre_deux_guerres  political_economy  macroeconomics  classical_economics  neoclassical_economics  Keynes  Keynesianism  Post-Keynesian  finance_capital  financial_economics  microfoundations  EMH  rational_expectations  rationality-economics  rationality-bounded  behavioral_economics  business_cycles  Great_Depression  Great_Recession  financial_crisis  gold_standard  economic_growth  international_monetary_system  balance_of_payments  FX  uncertainty  liquidity  savings  Labor_markets  wages 
september 2014 by dunnettreader
Coen Teulings, Richard Baldwin - Secular stagnation: Facts, causes, and cures – a new Vox eBook | vox 10 September 2014
The CEPR Press eBook on secular stagnation has been viewed over 80,000 times since it was published on 15 August 2014. -- Six years after the Crisis and the recovery is still anaemic despite years of zero interest rates. Is ‘secular stagnation’ to blame? Introduction - Coen Teulings and Richard Baldwin **--** I. Opening the debate -- 1. Reflections on the ‘New Secular Stagnation Hypothesis’, Laurence H Summers. **--** II. Three issues: Potential growth, effective demand, and sclerosis -- 2. Secular stagnation: A review of the issues, Barry Eichengreen -- 3. The turtle’s progress: Secular stagnation meets the headwinds, Robert J Gordon -- 4 Four observations on secular stagnation, Paul Krugman. -- 5. Secular joblessness, Edward L Glaeser. **--** III. Further on potential growth. -- 6. Secular stagnation? Not in your life - Joel Mokyr. -- 7 Secular stagnation: US hypochondria, European disease?, Nicholas Crafts. **--** IV. Further on effective demand. -- 8. A prolonged period of low real interest rates?, Olivier Blanchard, Davide Furceri and Andrea Pescatori. -- 9. On the role of safe asset shortages in secular stagnation, Ricardo J Caballero and Emmanuel Farhi. -- 10. A model of secular stagnation, Gauti B. Eggertsson and Neil Mehrotra. -- 11. Balance sheet recession is the reason for secular stagnation, Richard C Koo. -- 12. Monetary policy cannot solve secular stagnation alone
Guntram B Wolff. **--** V. Further on sclerosis -- 13. Secular stagnation: A view from the Eurozone, Juan F. Jimeno, Frank Smets and Jonathan Yiangou -- downloaded pdf to Note
books  etexts  kindle-available  economic_history  18thC  19thC  20thC  21stC  economic_theory  economic_growth  Great_Recession  stagnation  international_political_economy  capitalism  financialization  productivity  investment  technology  Labor_markets  unemployment  demand-side  supply-side  infrastructure  welfare_state  sovereign_debt  fiscal_policy  monetary_policy  central_banks  leverage  risk  uncertainty  macroeconomics  macroprudential_policies  international_monetary_system  global_economy  global_imbalance  interest_rates  profit  wages  Eurozone  US_economy  downloaded  EF-add 
september 2014 by dunnettreader
Danielle Kurtzleben - Why you need a bachelor's degree to be a secretary today - Vox September 2014
According to a new report from labor market research firm Burning Glass, firms are "up-credentialing": asking for bachelor's degrees for jobs that traditionally have not demanded a diploma. Taken with other recent findings about the causes behind weakness in the labor market, this tells a lot about why employers just don't value a college degree like they used to. Altogether, you could see this report as a signal of a skills gap — that there are too many English majors out there and not enough engineering majors, meaning the people who are good at dissecting poetry will just end up in low-skill jobs. But it may also suggest a newfound laziness among employers. It's not just that firms are using bachelor's degrees as a(n imperfect) signal of a good worker; they also may be looking for ready-made workers who can perform the job duties on Day 1, with minimal training or development. A bachelor's might signal not just higher quality to an employer but lower maintenance as well (rightly or wrongly). "Employers are increasingly keen on hiring college grads," says Matt Sigelman, CEO of Burning Glass. "But employers really are looking for people who can hit the ground running." And that means a big problem for people just entering the labor force, as Cappelli writes in a recent Washington Post column. "The real challenge we face is that if everyone is hiring for the ability to do a job, rather than for the potential to do it well, how does anyone get that initial experience?"
US_economy  Labor_markets  unemployment  skills  mobility  inequality  middle_class  college  education-higher  education-training 
september 2014 by dunnettreader
Suzanne J. Konzelmann - The political economics of austerity | Cambridge Journal of Economics 2013
Birkbeck, University of London. -- The 2007/08 financial crisis has reignited the debate about economic austerity. With the aim of understanding why a government would pursue such a policy in the current context of persistent economic recession, this article traces the social, political and economic developments that have together shaped the evolution of ideas about austerity, from the earliest theorising by the classical political economists some 300 years ago. Throughout the historical narrative, important analytical themes revolve around the arguments used to justify austerity—notably appeals to ethics and morality (reinforced by misleading analogies drawn between government budgets and the accounts of firms and households). These include concerns about inflation and the observed relationship between inflation and unemployment; ‘Ricardian equivalence’ and ‘non-Keynesian’ effects of austerity; and the correlation between public debt levels and economic growth. The class analytics of austerity—who bears the burden of austerity and who benefits—and the process by which alternative ideas penetrate the mainstream and reconstitute the conventional wisdom are also important analytical themes. -- downloaded pdf to Note
article  intellectual_history  political_economy  economic_theory  economic_sociology  economic_policy  17thC  18thC  19thC  20thC  21stC  Great_Recession  austerity  business_cycles  business-and-politics  ideology  macroeconomics  fiscal_policy  monetary_policy  inflation  unemployment  moral_economy  historical_sociology  class_conflict  public_opinion  public_finance  sovereign_debt  economic_growth  debt  debtors  creditors  intermediation  Labor_markets  downloaded  EF-add 
september 2014 by dunnettreader
Anne Mayhew, review - Laurence Shute, John Maurice Clark: A Social Economics for the Twenty-First Century | EH.Net, H-Net Reviews. November, 1997
[F]rom Clark's earliest work through his post-World War II comments on the formalization of Keynes' work, he sought a "non-euclidean" economics that would be more "scientific" than most economic analysis in fact was. In a 1924, essay on "The Socializing of Theoretical Economics," Clark argued that it was "unscientific" to exclude relevant evidence. He wrote: "... comprehensiveness is scientific, even if it involves some sacrifice of other qualities for which science likes to strive" . In a critique of a 1949 essay by Paul Samuelson, Clark repeats the theme by complaining of ... what happens to the Keynesian theory when it is simplified by isolating the central mathematical formula and its corollaries from the context of factors that do not lend themselves to this treatment, and which Keynes handled in 'literary' fashion ... . -- Clark (and his fellow Institutionalists) made major contributions to what was then the "mainstream" of American economics during a period of lively innovation. During the early 1930s Clark had already developed both multiplier and accelerator concepts and he welcomed Keynes' "income-flow analysis." However, in the early 1940s he was worrying--in print and in exchanges with Keynes--that this analysis would be undiscriminatingly applied, and there were problems with sole reliance on deficit spending for stabilization. Clark's concern was a wider variety of stabilization tools--including attention to the legal arrangement of costs--would be required. In his last major work, Competition as A Dynamic Process (1961), Clark returned to some of the issues with which he began his career. Shute stresses that this work was not the "major general treatise" that Clark had once hoped to write, but rather an attempt to develop a practical notion of "workable competition" appropriate for analysis and policy guidance in a dynamic economy. Clark was realist enough to worry that this work would not be well received [inadequate formalism and assumptions they expected from "theory"]
books  reviews  intellectual_history  20thC  entre_deux_guerres  social_sciences-post-WWII  economic_theory  economic_history  institutional_economics  industry  production  investment  costs  labor  Labor_markets  capital  capitalism  business_cycles  Keynes  Keynesianism  macroeconomics  Great_Depression  competition  prices 
september 2014 by dunnettreader
Thomas R. Wells, “Recovering Adam Smith’s ethical economics”| real-world economics review, issue no. 68, 21 August 2014, pp. 90-97 | Real-World Economics Review Blog
Justice was thus central to Smith’s critique of the crony capitalism of his time, and to his alternative proposal of a “system of natural liberty” characterised both by a level playing field (the responsibility of political institutions) and a commitment to “fair play” (the moral responsibility of economic actors). The quotation above is often taken to indicate Smith’s rejection of the interests of the poor by ruling out the kind of redistributive policies found in a modern welfare state as akin to a referee changing the results of a game to favour one “team” over another. Yet that misses Smith’s commitment to procedural fairness, which introduces a concern that the rules of the game—the institutional arrangements that decide who should get what share of the gains of economic activity—should themselves be fair. If a country’s economy creates great wealth but the share going to the workers versus the owners of capital is kept artificially low by unfair institutions—such as restrictions on workers’ ability to bargain (WN I.viii.13)—that is a gross injustice which keeps the country less prosperous than it ought to be. Smith thus appears a more radical critic of the structural origins of economic inequality than many today on the political left. In Smith’s time no less than in our own, a political commitment to a free society and a free economy does not imply that we should simply accept our existing socio-economic institutional arrangements (cf Grusky 2012). On the contrary, it implies rigorous scrutiny and reform.
article  intellectual_history  political_economy  Smith  busisness-ethics  justice  Labor_markets  rent-seeking  downloaded  EF-add 
september 2014 by dunnettreader
Steve Denning - The Copernican Revolution In Management - Forbes - July 2013
Today’s hierarchical bureaucracies are so out-of-step with the current marketplace in which power has shifted from seller to buyer that we cannot wait for the results of definitive long-term scientific studies. As Don Tapscott said in this column last week, “The fundamental problem facing all our institutions today, including government, is not related to conjunctural economic changes. It’s not a business cycle that we are going through. It’s not a cyclical change. It’s a secular change. We are at a punctuation point in human history where the industrial age and institutions have finally come to their logical conclusion. They have essentially run out of gas.” The shareholder value theory is thus only a small part of the problem. It is part of a web of obsolete management ideas that no longer fit the 21st Century marketplace. As noted below, other once-sacred truths in management are part of the same failing paradigm. Absorbing even a couple of these fundamental shifts will take time. Absorbing them all, and acquiring the skills and attitudes necessary to implement them, will not be easy or quick. -- large number of links to recent articles, papers etc
globalization  global_economy  business  management  corporate_governance  technology  networks-business  hierarchy  shareholder_value  capital_markets  investors  financialization  Labor_markets  Innovation  capitalism  executive_compensation  1-percent  inequality  links 
august 2014 by dunnettreader
The Reshoring Initiative Blog: The Reshoring Initiative's Recommendations for the Federal Government
The economic bleeding due to increasing offshoring has stopped. The rate of new reshoring is now equal to the rate of new offshoring. The challenge is now to reshore the 3 to 4 million manufacturing jobs that are still offshored. Recent reshoring announcements and successes by Apple, Caterpillar and GE and analysis of the economics of reshoring suggest that we could raise the net reshoring rate from the current zero jobs/year to 50,000. For the U.S. to achieve its full reshoring potential requires a continuation of offshore cost trends, improvement in U.S. competitiveness and changes in companies’ sourcing decision metrics. The U.S. government can influence all of these factors with minimal expenditure -- most recommendations for Dept of Commerce, especially integrating their reshoring tools and materials in their programs - also some Dept of Education extending encouragement of community college training initiatives - extend use of tool for calculating full costs of off-shoring as e.g. condition of federal contracts -- big issue currency manipulation by e.g. China at end of list is different in kind from the sorts of reorientation or extension of government programs or public-private_partnerships
US_government  US_economy  manufacturing  Labor_markets  exports  off-shoring  business  SMEs  unemployment 
august 2014 by dunnettreader
Looming Ahead - 5 Nobel Prize winners discuss their "biggest problem" of the future global economy -- Finance & Development, September 2014, Vol. 51, No. 3
Five Nobel Prize winners discuss what they each see as the biggest problem facing the global economy of the future -- George Akerlof -climate change; Krugman - demand side; Solow - secular stagnation in developed economies (if that happens, will and means to solve even catastrophic problems like climate won't be forthcoming) Michael Spence (inclusiveness of global economic development to allow adjustments that keep benefiting rich countries but extend beneficiaries of growth - stress on getting basics right like managing limited natural resources): Stiglitz - inequality -- downloaded pdf to Note
economic_theory  global_economy  political_economy  climate  stagnation  OECD_economies  emerging_markets  capitalism  demand  Great_Recession  Labor_markets  inequality  global_governance  international_political_economy  downloaded  EF-add 
august 2014 by dunnettreader
Friedrich August von Hayek - Prize Lecture: The Pretence of Knowledge -- Nobel Prize 1974
MLA style: "Friedrich August von Hayek - Prize Lecture: The Pretence of Knowledge". Nobelprize.org. Nobel Media AB 2014. Web. 9 Aug 2014. <http://www.nobelprize.org/nobel_prizes/economic-sciences/laureates/1974/hayek-lecture.html> -- uses stagflation to attack demand side theories with a hint of liquidationism -- more interesting is his take on Popper and limits to positivism and quantitative methodologies -- can theirize certain patterns and examine empirical evidence re those patterns, but can't predict quantitative outcomes -- though stresses complexity, seems to be an issue of incomplete data (by definition inaccessible since it's in the heads of masses of heterogeneous agents reacting to their own, constantly changing, limited information) rather than emergent properties and complexity dynamics
intellectual_history  20thC  post-WWII  social_sciences-post-WWII  economic_theory  markets  information-markets  Labor_markets  unemployment  inflation  economic_policy  demand  empiricism  uncertainty  epistemology  positivism  quantitative_methods  philosophy_of_science  philosophy_of_social_science  Popper  Hayek  determinism  emergence  equilibrium  complexity  EF-add  scientism  scientific_method  sociology_of_knowledge 
august 2014 by dunnettreader
Alfred Marshall - Industry and Trade (Vol 2) [1919] | Google Books
Vol 2 appears to be available only as a commercial ebook (price c $4) - Vol 1 is a full Google Books copy added to my Google_Books library -- Vol 2 looks interesting in his treatment of the English economy from at least the Black Death -- remarks on "mercantilism" and the economic policies of the British government in the mid 18thC (following Adam Smith characterized as"bad" and "selfish") -- Though the bulk of his work was completed before the turn of the 20th century, the global ramifications of World War I prompted him to reconsider his theories on international economics, and in 1919 he published the two-volume Industry and Trade. Here, in Volume II, he discusses. . how monopolies and competition impact prices . trusts and cartels in the American and German economies . the decline of class differences and advantages in industrial systems . unions, co-opts, and business federations . and much more.
books  etexts  Google_Books  economic_history  British_history  UK_economy  Germany  Prussia  mercantilism  merchants  international_political_economy  international_economics  trading_companies  trade-policy  trade  trade-agreements  17thC  18thC  19thC  20thC  Industrial_Revolution  industrialization  German_unification  monopolies  corporations  corporate_finance  labor  Labor_markets  wages  unions  imperialism  empire-and_business  US_economy  protectionism  Hamilton  Smith  free_trade  laisser-faire  institutional_economics  institution-building  firms-theory  EF-add 
june 2014 by dunnettreader
Suresh Naidu - Capital Eats the World | Jacobin May 2014
A first step could be a multisector model with both a productive sector and an extractive, rent-seeking outlet for investment, so that the rate of return on capital has the potential to be unanchored from the growth of the economy. This model could potentially do a better job of explaining r > g in a world where capital has highly profitable opportunities in rent-seeking ....More fundamentally, a model that started with the financial and firm-level institutions underneath the supply and demand curves for capital, rather than blackboxing them in production and utility functions, could illuminate complementarities among the host of other political demands that would claw back the share taken by capital and lower the amount paid out as profits before the fiscal system gets its take. This is putting meat on what Brad Delong calls the “wedge” between the actual and warranted rate of profit. -- We need even more and even better economics to figure out which of these may get undone via market responses and which won’t, and to think about them jointly with the politics that make each feasible or not. While Piketty’s book diagnoses the problem of capital’s voracious appetite, it would require a different kind of model to take our focus off the nominal quantities registered by state fiscal systems, and instead onto the broader distribution of political power in the world economy.
books  reviews  kindle-available  Piketty  political_economy  economic_theory  heterodox_economics  neoclassical_economics  economic_models  economic_growth  wealth  capital  finance_capital  capitalism  labor  Labor_markets  unemployment  markets_in_everything  tax_havens  investment  investors  savings  inheritance  profit  corporate_governance  corporate_citizenship  inequality  technology  1-percent  rent-seeking  rentiers  class_conflict  oligarchy  taxes  productivity  corporate_finance  property  property_rights  neoliberalism 
june 2014 by dunnettreader
Noah McCormack - Friends without Benefits | Blog | The Baffler
Zappos has apparently decided it is no longer good enough to be a qualified hire who is interested in the job. An interested applicant must also spend unremunerated time pretending to engage in virtual social relationships with existing employees. The American economy has become so warped that it now appears reasonable to a subsidiary of a leading public company to require people who may never be hired to spent large amounts of time pretending to be friends with people with whom they may never work. This represents the convergence of at least three disturbing trends in the current American economy: the long-term unemployment of large numbers of people and the consequent power given to any company which is hiring; the technology industry’s revival of old prejudices under catchy new names; and the way that technology increasingly erodes any sense that our work selves are merely a component of our lives, rather than the entirety of our existence.
US_society  unemployment  Labor_markets  social_media  employers  power  labor  inequality  markets_in_everything  discrimination  work  work-life_balance 
june 2014 by dunnettreader
Frances Coppola - Categorising the poor | Pieria May 2014
We should also stop trying to decide whether someone “deserves” social support. We have been trying to distinguish between the “deserving” and “undeserving” poor for over five hundred years, and we are no better able to make that judgement now than we were in the fourteenth century, or the sixteenth, or the nineteenth. We inevitably end up denying support to those who desperately need it. Let us give up this fruitless attempt to judge people's motives. Simply provide everyone with a basic income so that they can afford to live, then let them get on with whatever they want to do.
economic_history  British_history  British_politics  Poor_Laws  unemployment  Labor_markets  wages  welfare  14thC  16thC  17thC  18thC  19thC  21stC  economic_reform  EF-add 
may 2014 by dunnettreader
Deborah Boucoyannis - The Equalizing Hand: Why Adam Smith Thought the Market Should Produce Wealth Without Steep Inequality | Cambridge Journals Online - Perspectives on Politics - Dec 2013
For long overview of the article, see her post from the LSE blog -- Perspectives on Politics, 11, pp 1051-1070. doi:10.1017/S153759271300282X. - That the market economy inevitably leads to inequality is widely accepted today, with disagreement confined to the desirability of redistributive action, its extent, and the role of government in the process. The canonical text of liberal political economy, Adam Smith's Wealth of Nations, is assumed even in the most progressive interpretations to accept inequality, rationalized as the inevitable trade-off for increasing prosperity compared to less developed but more equal economies. I argue instead that Smith's system, if fully implemented, would not allow steep inequalities to arise. In Smith, profits should be low and labor wages high, legislation in favor of the worker is “always just and equitable,” land should be distributed widely and evenly, inheritance laws liberalized, taxation can be high if it is equitable, and the science of the legislator is necessary to put the system in motion and keep it aligned. Market economies are made in Smith's system. Political theorists and economists have highlighted some of these points, but the counterfactual “what would the distribution of wealth be if all the building blocks were ever in place?” has not been posed. Doing so encourages us to question why steep inequality is accepted as a fact, instead of a pathology that the market economy was not supposed to generate in the first place. --Deborah Boucoyannis is Assistant Professor at the University of Virginia (dab5fw@virginia.edu). Her interests lie in the historical preconditions for the emergence of the liberal order and of constitutionalism.
paper  paywall  political_economy  intellectual_history  economic_theory  Smith  18thC  British_history  Scottish_Enlightenment  inequality  wages  taxes  landowners  monopolies  rent-seeking  luxury  consumer_demand  competition  profit  regulation  power  investment  capital  neoliberalism  Labor_markets  EF-add 
april 2014 by dunnettreader
Deborah Boucoyannis - For Adam Smith, inequality was contrary to the Wealth of Nations | British Politics and Policy at LSE – Feb 2014
Overview of her article in Perspectives on Politics - see Cambridge Journals bookmark - The assumption that Adam Smith accepted inequality as the necessary trade-off for a more prosperous economy is wrong, writes Deborah Boucoyannis. In reality, Smith’s system precluded steep inequalities not out of a normative concern with equality but by virtue of the design that aimed to maximise the wealth of nations. Much like many progressive critics of current inequality, Smith targets rentier practices by the rich and powerful as distorting economic outcomes.
paper  political_economy  intellectual_history  economic_theory  Smith  18thC  British_history  Scottish_Enlightenment  inequality  wages  taxes  landowners  monopolies  rent-seeking  luxury  consumer_demand  competition  profit  regulation  power  investment  capital  neoliberalism  Labor_markets  EF-add 
april 2014 by dunnettreader
EconoSpeak: Inequality and Sabotage: Piketty, Veblen and Kalecki (for anne at Economist's View)
Nearly a century ago, Thorstein Veblen offered insights into this mechanism in his The Engineers and the Price System. To Veblen r>g (although he didn't use that term) was a strategy pursued by business, not simply a statistical finding. As Veblen points out, "this is matter of course, and notorious. But it is not a topic on which one prefers to dwell." -- Kalecki outlined three categories of business objection to a full employment by government spending: "(i) dislike of government interference in the problem of employment as such; (ii) dislike of the direction of government spending... (iii) dislike of the social and political changes resulting from the maintenance of full employment." It is the first and third of these objections that have the most direct bearing on the issue of r>g -- There are different modes of efficiency and those differences result in different effects on the rate of return to capital. In other words, there are r>g efficiencies and there are r<g efficiencies. An example of an r>g efficiency would be a new machine that uses less fuel and less labour to produce a given amount of output. An example of an r<g efficiency would be a reduction in the length of the standard working day that improves worker productivity by reducing fatigue and increasing overall well being. Both are examples of efficiencies but they differ as to whom the benefit of the efficiency gain primarily accrues.
US_economy  US_history  19thC  20thC  Great_Depression  economic_history  economic_growth  political_economy  capital  capitalism  labor  Labor_markets  wages  unemployment  consumer_demand  profit  investment  unions  Veblen  Kalecki  productivity  inequality  EF-add 
march 2014 by dunnettreader
Beryl Lieff Benderly, book review - Academia's Crooked Money Trail | Science Careers Jan 2012
“Follow the money!” -- The strategy also serves Georgia State University economist Paula Stephan extremely well in her illuminating and accessible new book, How Economics Shapes Science. A leading expert on the scientific labor market, Stephan isn’t looking to sniff out high-level government corruption. Rather, using the “tool bag” economics provides for “analyzing the relationships between incentives and costs,” she penetrates the financial structure of university-based science, explaining the motivation and behavior of everyone from august university presidents and professors to powerless and impecunious graduate students and postdocs. Undergraduates also carry an increasing share of the load, she adds: Their tuition, often paid with student loans, rises as more funds go to research. Their teachers, meanwhile, increasingly are cut-rate adjuncts rather than the famous professors the recruiting brochures boast about.
books  reviews  US_society  US_government  scientific_culture  science-and-politics  education-higher  Innovation  Labor_markets  EF-add 
march 2014 by dunnettreader
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