gnat + economics   277

Competition in small markets | The Dismal Science
a firm that is nine times less productive than the best in the same industry can survive in New Zealand. In Denmark, for example, the ratio is reported to be around 1.6 to 3.5. Danish firms that can’t achieve at least a quarter of the productivity of the best firms get killed off quickly.
economics  nz 
september 2013 by gnat
PLOS ONE: I Should but I Won’t: Why Young Children Endorse Norms of Fair Sharing but Do Not Follow Them
Children aged 7–8 years endorsed the norm of an equal split as fair, predicted that they and another child would behave in accordance with that norm, and actually did share equally with another child. Children aged 3–6 years also asserted that the resource should be divided equally, whether by themselves or by another child and they predicted that another child would adhere to that norm. Yet they predicted that they themselves would fall short of the norm, and actually did fall short. Age-related increases in inhibitory control failed to account for this closing of the judgment-behavior gap with increasing age. On the other hand, the extent to which children invoked fairness norms when reflecting on their actual sharing did explain the matching of behavior to standards that emerged among older children. The younger children focused on their own desires when explaining their predicted and actual sharing, whereas the older children talked spontaneously and explicitly about issues of fairness. The results provide some support for traditional accounts of moral development by showing that, in the course of development, children’s sharing is increasingly consistent with the norm of fairness that they endorse from an early age.
research  economics 
march 2013 by gnat
E-Commerce and its Effect on the Retail Industry and Government Revenue
(1) lazy: based on literature not actual work;
(2) partial: assumes (p20) what it concludes;
(3) impractical: says they're not considering whether it's POSSIBLE to collect revenue on small amounts;
(4) irrelevant: the research they consult is about US inter-state commerce, and despite each section saying "it's unclear whether this applies to NZ" the conclusion is firmly stated as "charge GST on everything!".

policy  economics 
march 2013 by gnat
Industry clusters: The modern-day snake oil - Washington Post
A recent analysis of 1,604 companies in the five largest Norwegian cities underscores what’s missing from this prescription for a knowledge economy: people. The prerequisite for a regional innovation system is knowledgeable people who have the motivation and ability to start ventures. To succeed, these people need to be connected to one another by information-sharing networks. Basic infrastructure is always needed, but fancy science parks and big industry are just nice to have.

The study, conducted by Rune Dahl Fitjar, of Norway’s Centre for Innovation Research at the International Research Institute of Stavanger, and Andres Rodriguez-Pose of the London School of Economics and Political Science, found that the key drivers of innovation in Norway are the communication channels that local entrepreneurs maintain to the outside world and their open-mindedness toward foreign cultures, change and new ideas. Companies that are “regionally minded” — that maintain ties only with players within the same cluster — are four times less likely to innovate than the globally connected. The study found that regional and national clusters are “irrelevant for innovation.”
economics  innovation 
march 2013 by gnat
Kiwi Cultural Impediments
whine whine we suck whatEVER. As productive as complaining about the weather (which, I admit, I do).
december 2012 by gnat
Modern cargo ships slow to the speed of the sailing clippers | Environment | The Observer
A combination of the recession and growing awareness in the shipping industry about climate change emissions encouraged many ship owners to adopt "slow steaming" to save fuel two years ago. This lowered speeds from the standard 25 knots to 20 knots, but many major companies have now taken this a stage further by adopting "super-slow steaming" at speeds of 12 knots (about 14mph).

Travel times between the US and China, or between Australia and Europe, are now comparable to those of the great age of sail in the 19th century. American clippers reached 14 to 17 knots in the 1850s, with the fastest recording speeds of 22 knots or more.

Maersk, the world's largest shipping line, with more than 600 ships, has adapted its giant marine diesel engines to travel at super-slow speeds without suffering damage. This reduces fuel consumption and greenhouse gas emissions by 30%. It is believed that the company has saved more than £65m on fuel since it began its go-slow.
energy  oceans  environment  economics 
november 2012 by gnat
Do We Pay More To Live in Diverse Neighborhoods? - Neighborhoods - The Atlantic Cities
The more diverse neighborhoods have both higher population growth and stronger price growth in the past year – and they’re a bit more expensive to begin with:
economics  culture 
november 2012 by gnat
The Bretton Woods Transcripts - The Center for Financial Stability
transcripts from the historic economics summit available (dissolve the gold standard, USD, etc.)
economics  history 
october 2012 by gnat
Guest Review by Aaron Swartz: Chris Hayes’ The Twilight of The Elites — Crooked Timber
Hayes pins the blame on an unlikely suspect: meritocracy. We thought we would just simply pick out the best and raise them to the top, but once they got there they inevitably used their privilege to entrench themselves and their kids (inequality is, Hayes says, “autocatalytic”). Opening up the elite to more efficient competition didn’t make things more fair, it just legitimated a more intense scramble. The result was an arms race among the elite, pushing all of them to embrace the most unscrupulous forms of cheating and fraud to secure their coveted positions. As competition takes over at the high end, personal worth resolves into exchange value, and the elite power accumulated in one sector can be traded for elite power in another: a regulator can become a bank VP, a modern TV host can use their stardom to become a bestselling author (try to imagine Edward R. Murrow using the nightly news to flog his books the way Bill O’Reilly does). This creates a unitary elite, detached from the bulk of society, yet at the same time even more insecure. You can never reach the pinnacle of the elite in this new world; even if you have the most successful TV show, are you also making blockbuster movies? bestselling books? winning Nobel Prizes? When your peers are the elite at large, you can never clearly best them.

The result is that our elites are trapped in a bubble, where the usual pointers toward accuracy (unanimity, proximity, good faith) only lead them astray. And their distance from the way the rest of the country really lives makes it impossible for them to do their jobs justly—they just don’t get the necessary feedback. The only cure is to reduce economic inequality, a view that has surprisingly support among the population (clear majorities want to close the deficit by raising taxes on the rich, which is more than can be said for any other plan). And while Hayes is not a fan of heightening the contradictions, it is possible that the next crisis will bring with it the opportunity to win this change.
books  politics  economics 
september 2012 by gnat
Free exchange: Zero-sum debate | The Economist
In a new NBER working paper, Thomas Piketty of the Paris School of Economics and Emmanuel Saez of the University of California at Berkeley poke different holes in the conventional view. The old models, they point out, ignore inheritances. In the real world inheritances strongly influence income levels, particularly among the very rich. Mr Romney recently reinforced this very point by exhorting students to borrow from parents if necessary. Taxes on wages and salaries are inadequate to the task of limiting inequality because they punish those who owe high incomes to greater ability and effort, rather than to inheritances. Messrs Piketty and Saez also question the scale of the threat to growth. They point to ratios of capital to output, which are surprisingly stable over time despite tax swings. Their model finds that the optimal tax rate on inheritance could be 50-60% or more.
politics  economics 
may 2012 by gnat
Latest Impact Research: Inching Towards Generalization
research shows microfinance helps entrepreneurship, but doesn't effectively reduce poverty on any large scale
economics  microfinance  business 
april 2012 by gnat
California and Bust | Business | Vanity Fair
The smart money says the U.S. economy will splinter, with some states thriving, some states not, and all eyes are on California as the nightmare scenario. After a hair-raising visit with former governor Arnold Schwarzenegger, who explains why the Golden State has cratered, Michael Lewis goes where the buck literally stops—the local level, where the likes of San Jose mayor Chuck Reed and Vallejo fire chief Paige Meyer are trying to avert even worse catastrophes and rethink what it means to be a society.
california  economics  politics 
november 2011 by gnat
A special report on global leaders - The rise and rise of the cognitive elite
Demography makes it harder for people who start at the bottom of the ladder to climb up it. And that has political consequences.
demographics  economics  education  business 
february 2011 by gnat
Path to prosperity lies in technology niches |
Tourism can't provide economic growth
our future lies in niches
economics  nz 
february 2011 by gnat
A special report on global leaders: More millionaires than Australians | The Economist
Only 16% of high-net-worth individuals inherited their stash, according to Capgemini. The most common way to get rich is to start a business: nearly half (47%) of the world’s wealthy people are entrepreneurs.
money  economics  startups 
january 2011 by gnat
The sexual cost of female success - Sex News, Sex Talk -
In the book, we report that 35 percent of men's relationships are reported to have become sexual within two weeks; and 48 percent become sexual within a month. That gives you an indication that it doesn't take long for men to access sex, so it must not be all that valuable, right? That's how we get an indirect sense of the price of sex. Now, let's say sex was the highest possible cost. You'd see women never having sex with anyone until a man commits to marry her -- that's the most expensive thing you can charge. But that's just not the way the world is today, and that's not the way the world ever was -- the price of sex has never been that high, but it was certainly higher than it is today. All he has to do is maybe buy her dinner and text her.
sex  economics  culture 
january 2011 by gnat
Should Kids Be Bribed to Do Well in School? - TIME
standout bit for me is where some kids don't improve grades when paid to. reason: they don't know how. doesn't matter what $ you offer if they don't know how to improve.
economics  education  from delicious
april 2010 by gnat
Home |
discover who gets what from the Common Fisheries Policy
fish  economics  europe  open  data 
june 2009 by gnat
Government debt: That’ll be £2.2 trillion, please - Telegraph
“What is prudence in the conduct of every private family can scarce be folly in that of a great kingdom,” wrote Adam Smith.
economics  government  uk  quotes 
june 2009 by gnat
Land deals in Africa and Asia: Cornering foreign fields | The Economist
Neocolonialism is my take on it, too. Land is the primary factor of production, without control of it a nation doesn't control its ability to feed its population. I'd believe "the market" would ensure food needs were met from overseas, but the Scottish and Irish experiences of colonialism (indeed, most experiences of colonialism) show that it's not always the case.
food  economics  politics 
june 2009 by gnat
Face value: The patient capitalist | The Economist
Her advocacy of market-based approaches is inspired not by ideology but the firm conviction that markets are the best “listening device” to ascertain the real needs and wants of poor consumers.
june 2009 by gnat
Secret of Googlenomics: Data-Fueled Recipe Brews Profitability
Google even uses auctions for internal operations, like allocating servers among its various business units. Since moving a product's storage and computation to a new data center is disruptive, engineers often put it off. "I suggested we run an auction similar to what the airlines do when they oversell a flight. They keep offering bigger vouchers until enough customers give up their seats," Varian says. "In our case, we offer more machines in exchange for moving to new servers. One group might do it for 50 new ones, another for 100, and another won't move unless we give them 300. So we give them to the lowest bidder—they get their extra capacity, and we get computation shifted to the new data center."
google  economics 
may 2009 by gnat
Calculated Risk: Business Cycle: Temporal Order
leading and trailing indicators for the economy
economics  business 
april 2009 by gnat
Political constraints and financial crises | The curse of politics | The Economist
hat may well mean violating certain economic principles. Economists generally prefer transparent to hidden subsidies. But Mr Swagel says that the Treasury came to realise that underpricing insurance for bank assets roused less political opposition than overpaying for assets precisely because the insurance is less transparent. The Treasury is also relying on the Fed to finance illiquid assets by printing money because that requires no congressional approval (even if it compromises the Fed’s independence).
economics  usa 
april 2009 by gnat
Biotech in North Carolina | Pipettes at the ready | The Economist
The state has invested more than $1.2 billion in biotechnology in the past ten years, between facilities, research, training programmes and incentives for companies. Those efforts have paid off. North Carolina now has more than 54,000 people working for some 500 biotech companies.
business  bio  technology  usa  economics  government 
april 2009 by gnat
Stable Economy : Traditional Economy : Brief History of Interest
history of lending and interest. Later sections are from the point of view of "money was not intended to be valuable in itself, or to create value, but rather merely to facilitate exchange". It seems to me that this view is untenable given any loan entails risk that must be priced and returned.
money  economics  finance 
april 2009 by gnat
Semyon: The real cause of the financial crisis
incentives encouraged risk-taking with other people's money
economics  finance 
march 2009 by gnat
Wall Street on the Tundra |
fascinating Iceland study by Michael Lewis, author of Moneyball.
economics  politics  finance 
march 2009 by gnat / Comment / Opinion - How bank bonuses let us all down
"banking is not about true risks but perceived volatility of returns: you earn a stream of steady bonuses for seven or eight years, then when the losses take place, you are not asked to disburse anything"
economics  business  finance  money 
february 2009 by gnat
Maurice R. Greenberg Center for Geoeconomic Studies - Council on Foreign Relations
"The Treasury’s remaining $350 billion in TARP funds would be enough to buy the existing common equity of the U.S. banking system". With the Education Dept's budget left over.
economics  politics 
january 2009 by gnat
Single malts flourish | Off to see the world | The Economist
it's a foolish industry that relies on nouveau-riche ostentation for any length of time
food  economics  business  china 
january 2009 by gnat
interesting piece on what next for education. Not sure about the pedagogical brilliancies of video and "JIT info with immediate application" but love the bubble observation (net present value of an education = its cost, so the producers are now sucking all the value from a tertiary education ... so it's a bubble which will burst as incomes readjusted in coming years)
opensource  education  economics  future  trends  business 
january 2009 by gnat
A Modest Proposal for the Publishing Industry -
brilliant parody of bailout language showing how generic the arguments are and how widespread they apply
economics  fun  language 
january 2009 by gnat
Pop Psychology - The Atlantic (December 2008)
some economics research experiments showing causes of bubbles: the possibility of making money from people who are ignorant of "true value", momentum investors, repeated plays show decreasing cycle lengths so bubbles pop sooner, until a fearful equilibrium is established. Not ignorance of bubble happening, but ppl think they can get out first.
research  economics  psychology  markets  investing 
january 2009 by gnat
Op-Ed Contributors - The End of the Financial World as We Know It -
"Created to protect investors from financial predators, the [SEC] commission has somehow evolved into a mechanism for protecting financial predators with political clout from investors"
economics  business  finance 
january 2009 by gnat
George Monbiot: Lord Keynes really did propose the International Monetary Fund | Comment is free | The Guardian
Interesting comments about the IMF (considered a failure by the author) and Keynes's original suggestion for solving the trade imbalance between nations.
history  economics 
january 2009 by gnat
Against Intellectual Monopoly
book by Michele Boldrin and David K. Levine against copyright and patent monopolies, making economic arguments.
law  economics  copyright  ip  patents 
december 2008 by gnat
Is Our Future Really $0? - Fernando Herrera-Gonzalez - Mises Institute
arguing that Chris Anderson's "Free" arguments are largely bollocks. The costs of producing music and software are not "driven to zero". Copying might be cheap, but it takes a fuck of a lot of time with a large opportunity cost.
free  economics  opensource  music 
november 2008 by gnat
Markets tumble once again | The TARP trap | The Economist
why is it okay to talk about commercial property prices having another 25% to fall if they are to return to their historical levels, but nobody in mainstream is talking about this for residential property?
november 2008 by gnat
Health and wealth | The Economist
increasing life expectancy doesn't automatically increase income per head
november 2008 by gnat
Charlie Brooker on the end of the world as we know it | Comment is free | The Guardian
"For years, money was just appearing from nowhere, or so we were told. People bought houses and bragged about how the value kept zooming up, and up, and up. In fact they didn't seem to be houses at all, but magic coin-shitting machines. It was all a dream, a dream in which you bought a box and lived in it, and all the time it generated money like a cow generates farts. Great big stinking clouds of money. And none of it was real. And now it's gone. Your house is worth less than your shoes, and your shoes are now, in turn, worth less than your mouth and your arse. Yes, your most valuable possessions are now your mouth and your arse, and you're going to have to use both of them in all manner of previously unthinkable ways to make ends meet, to pay for that box, the box you live in, the one you mistook for an enchanted, unstoppable cash engine."
funny  economics 
november 2008 by gnat
Baumol's cost disease - Wikipedia, the free encyclopedia
Because the good produced by musicians' labour is the labour itself, you can't get greater productivity from musicians the same way that you can from (say) car manufacturers. So costs will increase for the arts but output will stay constant. Only way out is either unearned income (sponsorship) or rising ticket prices (which the greater output from other industries mean people should be able to afford).
economics  art  music 
november 2008 by gnat
Chopping the Long Tail down to size • The Register
Interesting that the single vendor isn't named. Anderson's work was based on Amazon--could demographics explain the differences?
economics  web2.0  media 
november 2008 by gnat
A green New Deal? | Green, easy and wrong | The Economist
This article commends financial penalties for pollution but not financial incentives for clean energy ("subsidies"). "Subsidising clean energy requires politicians to decide the best way of delivering clean energy, and their judgement is likely to be worse than the market's". Can a government subsidise clean energy across the board, without preempting the market by preferring one over another? I'd say so.
energy  environment  economics  usa 
november 2008 by gnat
Death of the American Empire
Interesting and simply-written piece detailing the history of finance in America. I'm not sure I agree with all its premises, but I do agree with the idea that the economic shitstorm won't stop until the trillions of bad debt is removed from the books of the companies that held it.
economics  finance  usa 
october 2008 by gnat
» The End of ‘Chimerica’ Home Is Where The Heart Dwells
Niall Ferguson on China/America relationship in the last decade, and what it looks like for the future.
china  usa  economics 
october 2008 by gnat
How Government Stoked the Mania -
A cogent summary of the "too much regulation caused it" view of the meltdown.
economics  politics  usa 
october 2008 by gnat
Time to go shopping? | The Economist
Mar 23rd 2008. Um, I think the answer was: no.
economics  finance 
october 2008 by gnat
Making Sense of the Mortgage Meltdown
presentation full of numbers and graphs. My takeaways: house prices have to fall to reach historical norms, and Fannie/Freddy were massively overleveraged.
numbers  finance  economics 
october 2008 by gnat
Brian Gaynor : NZ also lured by Wall St honey pot - 11 Oct 2008 - NZ Herald: New Zealand Business, Markets, Currency and Personal Finance News
"At the end of August a staggering $90.1 billion of the $126.8 billion of overseas borrowings was either at call or was due to be repaid in 90 days or less. Thus our banks have to refinance up to $90.1 billion of overseas debt before the end of next month. This is at a time when the huge honey pot of global funding has disappeared with many of the once friendly bears now wanting their money back."
nz  finance  economics 
october 2008 by gnat
2020 Hindsight » What the meltdown looks like
enraging, appalling, heartbreaking, horrifying. watch this.
video  economics  usa 
october 2008 by gnat
Benchmarking IT Industry Competitiveness
"All, however, face stark challenges in the effort to remain competitive: chief among them are ensuring a steady supply of talent for the industry, and securing the right level of support from government to promote competition and innovation."
economics  nz  politics  innovation 
september 2008 by gnat
SSRN-A Guide to Starting Social Security Benefits by Richard Kaplan
"When a person should begin taking Social Security retirement benefits is a critical question for planning one's retirement. This article explains the various factors at play in determining the optimum starting point, including: longevity considerations; spousal implications, whether for a previously employed or a previously unemployed spouse; the impact of post-retirement employment; the availability of health insurance prior to Medicare eligibility for the worker and the worker's spouse; alternative sources of retirement income, including distributions from retirement savings plan assets and lifetime liquidation of nonretirement assets (and the pertinent income tax ramifications); and anticipated investment strategies." Crying out to be embodied in a web app?
economics  usa 
september 2008 by gnat
Commodities | A petrodollar saved |
"Saudi Arabia plans to set up a state fund to buy farmland in poor countries to meet rising food demand at home."
economics  money 
september 2008 by gnat
Does Studying Economics Inhibit Cooperation?
"our survey of charitable giving lends additional support to the hypothesis that economists are more likely than others to free ride."
economics  psychology  research 
september 2008 by gnat
Debate: 'Behavioural economics: is it such a big deal?' by Pete Lunn | Prospect Magazine September 2008 issue 150
Behavioural economist gets pwned in Prospect Magazine letters column. As the pwner says, "Economics is stronger thanks to the behavioural economists, that much is clear. Yet the picture you paint—of a great intellectual tide, pent up and ready to wash away most of what economists hold true—is not one I recognise."
economics  psychology 
september 2008 by gnat
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