economics   205959

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America’s Shampoo Economy - The New York Times
The only way to block the cycle is to regulate the sector, dialing up the oversight when amnesia sets in. Yet, largely behind the scenes, President Trump and the Republican majority are busily dismantling many of our newest guardrails. As Stephen Hall of the financial watchdog group Better Markets recently put it: “We are in the early stages of a major wave of financial deregulation that will, without question, increase the likelihood and severity of another financial crisis and once again inflict devastating losses on millions of everyday Americans.”
economics  politics  policy 
21 hours ago by sandykoe
TrueBit
gives Ethereum smart contracts a computational boost. Don't let Ethereum's gas limit drag your imagination! A novel incentive structure guarantees fast, reliable, and affordable results without third-party trust.
Consensus  blockchain  economics 
yesterday by Z303
Robots Will Transform Fast Food
Blaine Hurst, the CEO and president of Panera, told me that because of its new [self-service] kiosks, and an app that allows online ordering, the chain is now processing more orders overall, which means it needs more total workers to fulfill customer demand. Starbucks patrons who use the chain's app return more frequently than those who don't, the company has said, and the greater efficiency that online ordering allows has boosted sales at busy stores during peak hours. Starbucks employed 8 percent more people in the U.S. in 2016 than it did in 2015, the year it launched the app...

James Bessen, an economist at Boston University School of Law, found that as the number of ATMs in America increased fivefold from 1990 to 2010, the number of bank tellers also grew. Bessen believes that ATMs drove demand for consumer banking: No longer constrained by a branch's limited hours, consumers used banking services more frequently, and people who were unbanked opened accounts to take advantage of the new technology. Although each branch employed fewer tellers, banks added more branches, so the number of tellers grew overall. And as machines took over many basic cash-handling tasks, the nature of the tellers' job changed. They were now tasked with talking to customers about products -- a certificate of deposit, an auto loan -- which in turn made them more valuable to their employers. "It's not clear that automation in the restaurant industry will lead to job losses," Bessen told me.

https://hardware.slashdot.org/story/17/12/11/0026237/after-automating-order-taking-fast-food-chains-had-to-hire-more-workers
economics 
yesterday by jellis

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