Tag: economics
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Link: On Preferring A to B, while also preferring B to A
‘There is a tendency to think that joint evaluation is always better since it is the “full information” condition. Sunstein pushes against this interpretation because he argues that full information doesn’t mean full rationality.’ Placing value on something is situational and filled mostly with personal (or organization) judgement. Original source: On Preferring A to B,…
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Link: Why Mexico has not become more prosperous—and how it could
“In other words, workers end up in jobs where they are less productive than they might be. Too many individuals who should be workers become entrepreneurs or are self-employed. Efficient businesses are taxed and penalised, while subsidies help sustain unproductive ones. Joseph Schumpeter’s notion of “creative destruction”, in which capitalist competition drives out weaker firms…
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Link: US wages have been flat, despite growing economy
“The conundrum of stuck wages [for “non-managerial workers”?] has vexed economists for more than a decade, but their underlying assumption had been that as joblessness drops — it’s at 4% now — companies will be forced to push up wages to attract and retain workers. Now that that hasn’t happened, the feeling is beginning to…
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Link: Adam Smith, Misanthrope
‘The feminist writer Katrine Marcal recently wrote a critique of modern economics under the title “Who Cooked Adam Smith’s Dinner?” A fair question; for most of Smith’s life the answer was his mother, who predeceased him by only six years.’ Original source: Adam Smith, Misanthrope
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Link: The sky’s the limit
‘But China could add 13% to its GDP by 2025, relative to a baseline, if it increased women’s employment, hours and productivity as quickly as the leading countries in its region or peer group, McKinsey says. That would translate into an extra $2.6trn by 2025 (an economy the size of France). In India the relative…
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Link: Understanding technology today
“Technology isn’t an industry, it’s a method of transforming the culture and economics of existing systems and institutions. That can be a little bit hard to understand if we only judge tech as a set of consumer products that we purchase.” Original source: Understanding technology today
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Link: Trump’s Tariff Plan Leaves Blue-Collar Winners and Losers
“The mills and smelters that supply the raw material, and that would directly benefit from the tariffs, have been shrinking for years. Today, those industries employ fewer than 200,000 people. The companies that buy steel and aluminum, to make everything from trucks to chicken coops, employ more than 6.5 million workers, according to a Heritage…
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Link: Federal Reserve chair says ‘Amazon effect’ could be responsible for low inflation
‘The “Amazon effect” refers to the decline in traditional retail employment despite expansion in the overall retail sector. That paradox is occurring because of the explosion of online retail, driven in part by Amazon. As online shopping becomes more efficient and widely-used, fewer traditional retail workers are needed. The Amazon theory purports that lower demand…
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Link: Why isn’t digital fixing the productivity puzzle?
“In addition, stagnant wages had implications for limiting demand growth. In our sector analysis, we found weak demand dampened productivity growth through other channels than investment, such as economies of scale and a subsector mix shift.” Original source: Why isn’t digital fixing the productivity puzzle?
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Link: The gender wage gap is really a child care penalty
“In Denmark, childbearing creates a 20 percent gender wage gap.” Original source: The gender wage gap is really a child care penalty
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Link: The great experiment
I don’t really understand much of this, as usual, but it’s one of the rare economic pieces that I feel like I kinda get. Original source: The great experiment
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Link: Microsoft results show a distributed computing future
“The company reported 98% Azure revenue growth this quarter and commercial cloud revenue growth of 56% year-on-year to $5.3bn. The shift to Office 365 recurring revenue is also beginning to pay off, with the company reporting a 41% increase in Office 365 commercial revenue from installed base growth.” Original source: Microsoft results show a distributed…
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Link: The Problem With Courting Amazon
‘The question of whether, or how much, incentives actually spark a community’s economic growth is still unsettled. That’s partly because coming to any bottom-line answer is extremely difficult given all the possible variables in any scenario. “The overall conclusion is that effectiveness is there,” says Peter Fisher, a professor emeritus at the University of Iowa…
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Link: Amazon HQ2 blamed for high real-estate, rent, and traffic in Seattle
‘High demand and low inventory creates bidding wars and animosity among those who can’t even afford a starter home in the city they grew up in,” Kurt Schlosser wrote in September for GeekWire. “And the rent is too damn high, too. Workers who don’t wear tech badges for a living are forced to look outside…
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Link: Rupert Murdoch says Facebook needs to pay publishers the way cable companies do
“The publishers are obviously enhancing the value and integrity of Facebook through their news and content but are not being adequately rewarded for those services,” Murdoch wrote. “Carriage payments would have a minor impact on Facebook’s profits but a major impact on the prospects for publishers and journalists.” Original source: Rupert Murdoch says Facebook needs…
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Link: New Economy, Meet Old Continent
‘This is not “sharing” economy; these are fully professionalised marketplaces.’ Original source: New Economy, Meet Old Continent
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Link: Tolerating distraction
“The modern anxiety about distraction betrays a good deal about us. Insofar as we associate attention with power and control, it reflects our fears of losing both in an increasingly unpredictable cultural and natural climate. We also find ourselves living in an economy where we pay for cultural goods with our attention, so it makes…
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Link: Green light for IT spending in 2018
“fully 50% of the 872 respondents said their company is giving a ‘green light’ for IT spending. That was the highest reading since 2007, and 13 basis points higher than the average survey response for the month of November for the previous five years” Original source: Green light for IT spending in 2018
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Link: Apple App Store Continues to Grow
“Since the App Store launched in July 2008, iOS developers have earned over $86 billion.” Link to original
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Link: Lots of M&A in 2017
“Worldwide, more than 50k deals went down, worth in excess of $3.5T. More than a quarter of these (13,024) were in the US, up from 11,470 in 2016.” Link to original
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