Archive for the ‘economics’ Category

Today’s Economy: Agnes Török Explains It All to You

July 19, 2015

“Worthless,” written and performed by Agnes Török of Loud Poets. Film by Perry Jonsson; music by Robbero.

h/t: S. Abbas Raza

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Panicking Plutocrats Ponder Wealth Inequality

March 13, 2015

Panicking Plutocrats Ponder Wealth Inequality
Daily Show correspondent Hasan Minhaj recently explored the growing income gap in the millionaire population. “According to a recent study,” he concluded, “the insanely rich people are leaving behind the lowly, average, regular rich people.”

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Patricia Arquette Minds the Gap

February 24, 2015

Patricia Arquette Minds the Gap

When Patricia Arquette accepted the Academy Award for Best Supporting Actress, she had words of support for other working women (especially working moms): “It’s our time to have wage equality once and for all and equal rights for women in the United States of America.”

While not everyone gave her performance (or her backstage chatter) rave reviews, Jesus smiled on it (okay, it’s Jared Leto). And so did  Meryl Streep and Jennifer Lopez:

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Entrepreneurs Take Wild Risks, Right?

January 26, 2015

Entrepreneurs Take Wild Risks, Right?

Since capitalism rewards risk-taking, entrepreneurs must be be less risk-averse than the rest of us, right? Not so fast. A 2004 paper by Hongwei Xu and Martin Ruef concludes that “entrepreneurs are significantly more risk-averse than the general population in pursuing pecuniary benefits.” They tend to limit financial risks that may endanger autonomy and business viability.

More:

“Maybe Entrepreurs Don’t Like Risk Much After All,” Livia Gershon, JSTOR Daily

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Short link: http://wp.me/p6sb6-kMD

Image by Mike Licht. Download a copy here. Creative Commons license; credit Mike Licht, NotionsCapital.com

Comments are welcome if they are on-topic, substantive, concise, and not boring or obscene. Comments may be edited for clarity and length.

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Davos 2015

January 23, 2015

Davos 2015

Deep thoughts at Davos this week at the 2015 World Economic Forum. 80 billionaires and many more multi-millionaires are meeting in the exclusive Swiss resort to solve the global problem of economic inequality. They flew to the alps on 1700 private jets to end Global Warming. We anxiously await the auguries and edicts of our oligarch overlords.

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The New GOP Math: ‘Dynamic Scoring’ Doesn’t Add Up.

January 7, 2015

The New GOP Math: 'Dynamic Scoring' Doesn't Add Up.

Republicans now rule Congress, so the House of Representatives has a new rule: “Above All, Do No Math.” From now on, there’s no problem that can’t be solved by cutting taxes for rich people and corporations. The GOP calls this “Dynamic Scoring,” but others have called it “Voodoo Economics” and “Magical Thinking.” Why? Because it doesn’t work. Paul Ryan wants to call it “Reality-Based Scoring,” but clearly he lives in an Alternate Reality.

The assumption underlying “Dynamic Scoring” is the “Trickle-Down Theory” of economics. In a pre-automobile age this was called the “Horse-and-Sparrow Theory,” because if you fed your horse enough oats surely some would filter through the horse, fall on the road, and feed the sparrows. Then as now, this produces pitifully few oats but a whole lot of horsecrap.

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Congress: Just Like You, Only Much Richer

December 7, 2014

Congress: Just Like You, Only Much Richer

“Congress is rich. The average net worth in Congress is a bit more than $6 million, while the median net worth is $1 million. To put that in context, $4 million in net worth is enough to put someone in the top 1 percent, and $660,000 is enough to put an individual in the top 10 percent. Meanwhile, the median family wealth for whites is $134,000 and for blacks is $11,000. Emerging political science research suggests that the implications of this class bias are profound and important.”

— “The death of working-class politics: How the wealthy conquered Congress and abandoned blue-collar America,” Sean McElwee, Salon

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Short link: http://wp.me/p6sb6-kfB

Image by Mike Licht. Download a copy here. Creative Commons license; credit Mike Licht, NotionsCapital.com

 Comments are welcome if they are on-topic, substantive, concise, and not boring or obscene. Comments may be edited for clarity and length.

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Park Avenue Food Drive for Walmart Workers

November 29, 2014

Park Avenue Food Drive for Walmart Workers
On this Thankgiving holiday, many low-paid Walmart employees held food drives — for each other. They typically make under $25,000 a year, have no medical benefits, and many must use food stamps. Activists thought Walmart owner Alice Walton might want to pitch in, so they put a giant food drive bin outside her $25 million Park Avenue condo.

Robert Reich has some background:

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Small Business Saturday. Shop Local.

November 29, 2014

Small Business Saturday. Shop Local.

Yesterday, on “Black Friday,” millions of Americans spent billions of dollars with the multi-national corporations that sell imported products in U.S. shopping malls. Some of us resisted this retail feeding frenzy and bought nothing. Today people from both camps will buy local, shopping with neighborhood shops on Small Business Saturday.

$100 spent with local businesses returns $68 to the community vs. $43 spent at big box stores. So think outside the big box and shop local. The Small Business Saturday campaign was started by American Express, but your local shopkeepers will really thank you if you pay cash and leave your Amex card at home (they have to pay Amex swipe fees).

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Short Link:  http://wp.me/p6sb6-ki7

Image (“Small Business Saturday, after Edward Hopper”) by Mike Licht. Download a copy here. Creative Commons license; credit Mike Licht, NotionsCapital.com

Comments are welcome if they are on-topic, substantive, concise, and not boring or obscene. Comments may be edited for clarity and length.

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Big Savings!

November 28, 2014

Big Savings!

The Friday after Thanksgiving or ”Black Friday“ is reserved by global corporations for whipping Americans into a frenzy of over-consumption.  Millions camp out and line up for hours hoping for bargains. Most end up buying things they don’t need at prices they can’t afford.

Save big today. Don’t buy a single thing. If you want to spend something, spend the day with friends and family. Spend time at the library; borrow a book and spend time reading it. Spend time making something. You’re not what you buy. You’re not a “consumer.” You’re a human being.

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