tsuomela + profit   23

The Future Isn’t What It Used to Be — Editor's Picks — Medium
"The two reasons I’ve just described as to why the future remains as such — profit motive and device isolation — are obviously not entirely unrelated. In fact, they could be considered two sides of the same Bitcoin. However, there’s still value in examining each individually before bringing them together into a unified theory of dystopia."
future  futurism  profit  business  interoperability  technology 
june 2013 by tsuomela
Economic Manuscripts: Value, Price and Profit, Karl Marx 1865
Speech by Marx to the
First International Working Men's Association, June 1865
marx  karl  speech  capitalism  profit  economics 
february 2010 by tsuomela
Matt Taibbi - Taibblog - The real price of Goldman’s giganto-profits - True/Slant
Taibbi gives a good rant on the subsidies that boosted Goldman Sachs profits to record levels.
business  business-as-usual  economics  regulatory-capture  banking  finance  profit  subsidy  rant 
july 2009 by tsuomela
Postmodern Economists, Empiricist Sociologists? The Problem of Unobservables « A (Budding) Sociologist’s Commonplace Book
In an excellent paper in a similar vein, Espeland and Hirsch (1990) give numerous examples of the kinds of manipulations possible of accounting profits that, they argue, made possible the conglomerates of the 1960s. Especially popular tricks allowed firms to count the earnings of acquired firms retroactively, thus increasing the apparent profitability of the firm post-merger
economics  sociology  profit  accounting  observation  definition  boundaries  unobservables 
july 2009 by tsuomela
Bronte Capital: Watch those baskets: Why Citigroup should be allowed to merge with Wells Fargo
More bluntly I think the US should end this crisis with substantially fewer banks – which because they have a high degree of market power should be highly profitable. The high level of profitability will

(a). Reduce the incentive for banks to take excessive risks (if you have a goose that lays golden eggs it does not make sense to risk killing that goose), and

(b). Increases the chance that the banks can work through any problems that they do have (because the underlying franchise will generate enough profit to fill any holes).
banking  crisis  regulation  size  scale  profit  wall-street 
march 2009 by tsuomela
infinite thØught: marazzi on the violence of financial capitalism
What is a financial market? Textbooks tell you that it is a way of financing the economy. Only 1% of capital accumulated in financial markets is used for investment, the rest is self-financing. Finance is not a way of financing the real economy but of increasing profits beyond the real economy.
finance  financial-services  banking  money  economics  profit  critique 
march 2009 by tsuomela
Interfluidity :: Is the Prime Rate a Scam?
When I was a kid, the "prime rate" was something they announced on the news like it was something important. They don't do that any more, because the prime rate no longer is important. The prime rate is supposedly "the interest rate charged by banks to their most creditworthy customers (usually the most prominent and stable business customers)". But the most prominent businesses no longer benchmark their loans against the prime rate. They use LIBOR instead. Only consumer and small business loans are typically indexed against Prime. LIBOR became prominent, well, around the early nineties I think.
banking  finance  interest  money  credit  debt  crisis  profit 
october 2008 by tsuomela

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