700 Matching Annotations
  1. Last 7 days
  2. Apr 2024
  3. Mar 2024
    1. As Reverend Bolzius had observed, if slaves were encouraged to“breed like animals,” then poor whites could not reproduce at the same rateand hold on to their land or their freedom.
    2. By 1760, only 5 percent of white Georgians owned even a singleslave, while a handful of families possessed them in the hundreds. JonathanBryan was the perfect embodiment of the “Slave Merchants” whoOglethorpe had warned would dominate the colony.59
    3. Georgia also instituted a policy of keeping the land “tail-male,”which meant that land descended to the eldest male child. This feudal rulebound men to their families. The tail-male provision protected heirs whosepoor fathers might otherwise feel pressure to sell their land.53
    1. Die Abhängigkeit Europas von russischem Pipelinegas ist in zwei Jahren von 40% auf 10% gesunken. Die Importe von LNG haben um 40% zugenommen, wobei auch da ein erheblicher Anteil aus Russland stammt. Die USA sind der weltgrößte LNG-Exporteur. Mit großer Wahrscheinlichkeit werden bei LNG Überkapazitäten aufgebaut. In Österreich ist die Abhängigkeit von russischem Gas noch immer hoch, weil rein betriebswirtschaftlich entscheiden wird. Die OMV war 2023 verpflichtet, Gas für gut 60 TWh aus Russland zu beziehen und jedenfalls zu bezahlen. https://www.derstandard.at/story/3000000206989/warum-der-abschied-von-russischem-gas-noch-immer-so-schwer-faellt

  4. Feb 2024
  5. Jan 2024
    1. Equal Pay for Equal Work

      This post discusses the arguments for and against equal pay for equal work, highlighting the potential chaos and disadvantages of implementing such a system. The author emphasizes the importance of education and skill acquisition in increasing earnings and suggests creating transparency in pay to motivate individuals to improve their skills.

    2. Equal Pay for Equal Work
      • Who: The author (Just A Gamer).
      • What: Exploring the arguments for and against equal pay for equal work.
      • Why: To discuss the potential benefits and drawbacks of implementing equal pay.
      • How: The author presents their personal opinion against equal pay, highlighting reasons such as potential laziness, impact on company systems, and reduced incentives for talent and skill acquisition. They also suggest creating awareness about education and skill acquisition and promoting transparency in pay as potential solutions.
  6. Dec 2023
    1. SDGs
      • for: recommendation - replace SDG with downscaled earth system boundaries / doughnut economics

      • recommendation

        • recommend syncing local actions to global impacts via downscaled earth system boundaries instead of just SDGs due to the urgent nature of the climate crisis
    2. the SoNeC approach could potentiallybring about results related to these areas, but not limited to these
      • for: good match - SONEC - TPF, good match - SONEC - downscaled earth system boundaries, good match - SONEC - doughnut economics
    1. Jogerst, Karen. If I Could Just Get Organized: Home Management Hope for Pilers & Filers. Manhattan, MT: Rubies Publishing, 1999. http://archive.org/details/ificouldjustgeto0000joge.

      The author is a "piler" and patently not a "filer", so she's definitely going to be anti-card index based here.

      Small publishing company. Definite religious slant to the discussion.

      Only worth a quick scan.

      • for: futures - neo-Venetian crypto-networks, Global Chinese Commons, GCC, cosmolocal, coordiNation, somewheres, everywheres, nowheres, Global System One, Global System Two, Global System Three, contributory accounting, fourth sector, protocol cooperative, mutual coordination economics

      • summary

      • learned something new
        • I learned a number of new ideas from reading Michel's article. He gives a brief meta-history of our political-socio-economic system, using Peter Pogany's framework of Global System One, Two and Three and within this argues for why a marriage of blockchain systems and cosmolocal production systems could create a "fourth sector" for the transition to Global System Three.
        • He cites evidence of existing trends already pointing in this direction, drawing from his research in P2P Foundation
    1. the GS2 transition was more painful than GS1, and so very likely, the GS3 transition will be harder
      • for: GS3, Global System Three transition, mutual coordination economics

      • paraphrase

        • GS3 will be more difficult than GS2
        • social contract needs to be updated to include
          • new relation with nature and non-human beings
          • stronger multilateral relasionships to protect the planet
        • In Michel's view, a cosmolocal coordination will be required
        • The alternative is coercive eco-fascism to prevent massive ecological damage while we continue to overconsume planetary resources
        • definition: mutual coordination economics
          • an economic system that maximizes freedom of choice within earth system boundaries with minimal coercion
          • it is a new synthesis of markets, states and commons via decentralized p2p networks
  7. Nov 2023
    1. State Treasurer Robert Sprague said the program comes as many Ohioans face increased obstacles when it comes to buying a home in terms of price and availability

      Since prices are high due and availability is low, their Keynesian solution is to flood the market with free money, which will cause even more demand, less availability, and even higher prices. Basic economics.

    1. https://en.wikipedia.org/wiki/Boots_theory

      “The Sam Vimes "Boots" Theory of Economic Injustice runs thus:<br /> At the time of Men at Arms, Samuel Vimes earned thirty-eight dollars a month as a Captain of the Watch, plus allowances. A really good pair of leather boots, the sort that would last years and years, cost fifty dollars. This was beyond his pocket and the most he could hope for was an affordable pair of boots costing ten dollars, which might with luck last a year or so before he would need to resort to makeshift cardboard insoles so as to prolong the moment of shelling out another ten dollars.<br /> Therefore over a period of ten years, he might have paid out a hundred dollars on boots, twice as much as the man who could afford fifty dollars up front ten years before. And he would still have wet feet.<br /> Without any special rancour, Vimes stretched this theory to explain why Sybil Ramkin lived twice as comfortably as he did by spending about half as much every month.”<br /> ― Terry Pratchett, Men at Arms (1993)

  8. Oct 2023
    1. incentive-misalignment problem

      This is provably wrong. 1. Less power-hungry chips are in high demand thanks to mobile computing. 2. Manufacturers keep touting how much less power they consume. 3. Greater power costs greater money. So the incentives are aligned.

    1. And if you look at the total consumption of semiconductors by the Chinese manufacturing industry, then China imports more semiconductors than they import oil.

      China spends more importing semiconductors than on importing oil? really?

      This is from Peter Wennink, CEO of ASML

  9. Sep 2023
  10. Aug 2023
    1. In finance, the greater fool theory suggests that one can sometimes make money through the purchase of overvalued assets — items with a purchase price drastically exceeding the intrinsic value — if those assets can later be resold at an even higher price.
    1. Undoubtedly the first task of the statesman in such countriesis to raise the standard of living to such a point that thepeople may be freed from economic slavery and given thetime to get the education appropriate to free men.

      A bulk of America was stuck in a form of economic slavery in the 1950s. See description of rural Texans in Robert Caro's LBJ biography for additional context --- washing/scrubbing, carrying water, farming, etc. without electricity in comparison to their fellow Americans who did have it.

      In the 21st century there is a different form of economic slavery imposed by working to live and a culture of consumption and living on overextended credit.

      Consider also the comedic story of the capitalist and the rural fisherman and the ways they chose to live their lives.

    1. the Auto industry built for us and what's most Insidious is the financials behind all of this
      • for: adjacency - urban decay, suburbs, history- suburbs, history - car culture, urban decay - economics
      • paraphrase

        • as the suburbs expanded they need more and more roads highways Bridges infrastructure to stay afloat
        • but because the nature of the suburb is spread out single-family housing as opposed to the densely packed City Apartment dwelling the suburbs have too few people to be able to fund this infrastructure
        • subsequently, they so they have to keep expanding in order to fund themselves and even then they still can't fund themselves
        • so they often rely on tax dollars from City dwellers to subsidize their Suburban excesses
        • who lives in the cities because of white flight ?... people of color
        • when it comes to housing, people of color have been screwed over in literally every way in imaginable

        • so we have this self-perpetuating cycle

          • the growth of suburbs leads to more suburban sprawl
          • this increases the need for cars
          • this leads to the building of more highways and Roads
          • this leads to not enough income to pay for the suburbs
          • this leads to black and brown communities being forced to subsidize Suburban Lifestyles at the expense of the beautification of their own communities leading to the degradation of inner city neighborhoods
    1. so here we go to number six why transform
      • for: doughnut economics, climate change - societal impacts, whole system change - motivation
      • question: why transform?
        • answer
          • The word transformation is carefully chosen by John and here he explains why.
          • We face an extreme and growing polycrisis that threatens to overpower our capacity to cope with it unless we act now for whole system transformation.
          • Voices across all of society are becoming more vocal of the need to transform the existing system.
          • This transformation program does not need everyone to participate, just a sufficient but small percentage of the population who are aligned to these ideas.
          • Not everyone believes such transformation is necessary but the R+D project only needs to onboard a small percentage of the population who does believe to change the entire system for the benefit of even the non-believers.
      • comment
        • John is implying social tipping points as well as social engineering
    1. Oreskes, Naomi, and Erik M. Conway. The Big Myth: How American Business Taught Us to Loathe Government and Love the Free Market. Bloomsbury Publishing, 2023.

    1. For largely financial reasons, the intensity of bookings is increasing (the number of artists scheduled to perform per year, per season, etc.) and the bookings themselves are growing more and more extensive (the kilometres/miles travelled by artists continue to rise with fewer and fewer performance dates in each region)
      • for: music industry - touring economics, concert booking arms race, unsustainable booking
        • the intensity of bookings ( number of artists scheduled to perform per year or per season) is increasing
        • the average booking is becoming more geographically widespread ( more kilometers travelled per artist) with fewer performance dates per region
        • increase in artistic fees and technical requirements force organizers to attract more audiences who come from further away, creating a concert booking arms race
    1. Der Guardian hat Fachleute zu Carbon Capture and Storage (CCS) befragt. Die britische Regierung legitimiert neue Öl- und Gasbohrlizenzen mit gleichzeitigen CCS-Projekten. Einige Experten sind nach ersten Erfahrungen sehr skeptisch, was die grundsätzliche Realisierbarkeit von CCS an vielen Stellen der Erde angeht. CCS werde vor allem zur Dekarbonisierung von Industrien gebraucht werden, die bisher nicht CO<sub>2</sub>-frei betrieben werden können, es sei aber keine Rechtfertigung für neue fossile Entwicklungsprojekte. https://www.theguardian.com/environment/2023/aug/01/is-carbon-capture-and-storage-really-a-silver-bullet-for-the-climate-crisis

  11. Jun 2023
    1. Technology is valuable and empowering, but at what end direct cost? Consumers don't have available data for the actual costs of the options they're choosing in many contexts.

      What if that reprocessing costs the equivalent of three glasses of waters? Is it worth it for our environment, especially when the direct costs to the "consumer" are hidden into advertising models.

      (via Brenna)

  12. May 2023
    1. https://www.amazon.com/s?k=complexity+exonomics+textbook&crid=2SZP0E6DIIR6J&sprefix=complexity+exonomics+text%2Caps%2C630&ref=nb_sb_noss

      While I'm reading Doughnut Economics, it's interesting to contemplate the images on common economics textbooks as an indicator of how the authors/publishers think about the models of the information inside them.

      Some broad ideas represented here: - bustling people (consumers) walking over curvy 3D graph grids - greenish abstract cover (representing the green idea of money) - a compass rose (indicating finding one's direction; on a book about managerial economics and business strategy) - a globe of the world with a colorful infographic heat map - a bunch of blue and silver metal balls connected in a network-like configuration - a montage of images of numbers (credit card numbers, numbers on money, a ticker with stock prices, etc.) - a solar panel with blue sky and clouds in the background - blue sky with white fluffy clouds (indicating what, exactly?) - an ipad with an image of a busy street in the 1800s held up as if taking a photo of the same street today - puzzle pieces being put together with an image of people exchanging money at a farmer's market - abstract grid of a map outline of the Americas

    1. the Carthusian monks decided in 2019 to limit Chartreuse production to 1.6 million bottles per year, citing the environmental impacts of production, and the monks' desire to focus on solitude and prayer.[10] The combination of fixed production and increased demand has resulted in shortages of Chartreuse across the world.

      In 2019, Carthusian monks went back to their values and decided to scale back their production of Chartreuse.

  13. Apr 2023
    1. A writer collective is a set of editorial and financial structures designed to give writers the autonomy and upside that they get from writing alone, and the support and security they get from working for a media company. 

      If the "whole is greater than the sum of its parts" who benefits from the excess value and how is that economically broken up in a fair manner?

    1. It is difficult to see interdependencies This is especially true in the context of learning something complex, say economics. We can’t read about economics in a silo without understanding psychology, sociology and politics, at the very least. But we treat each subject as though they are independent of each other.

      Where are the tools for graphing inter-dependencies of areas of study? When entering a new area it would be interesting to have visual mappings of ideas and thoughts.

      If ideas in an area were chunked into atomic ideas, then perhaps either a Markov monkey or a similar actor could find the shortest learning path from a basic idea to more complex ideas.

      Example: what is the shortest distance from an understanding of linear algebra to learn and master Lie algebras?

      Link to Garden of Forking Paths

      Link to tools like Research Rabbit, Open Knowledge Maps and Connected Papers, but for ideas instead of papers, authors, and subject headings.

      It has long been useful for us to simplify our thought models for topics like economics to get rid of extraneous ideas to come to basic understandings within such a space. But over time, we need to branch out into related and even distant subjects like mathematics, psychology, engineering, sociology, anthropology, politics, physics, computer science, etc. to be able to delve deeper and come up with more complex and realistic models of thought.Our early ideas like the rational actor within economics are fine and lovely, but we now know from the overlap of psychology and sociology which have given birth to behavioral economics that those mythical rational actors are quaint and never truly existed. To some extent, to move forward as a culture and a society we need to rid ourselves of these quaint ideas to move on to more complex and sophisticated ones.

    1. Much popularization work remains to put newer evolutionary lessons on par with pop-science selfish-gene logic. But billions of years of harsh testing have taught all living systems to suppress certain sorts of disruptive selfishness. Economists should reflect long and hard on why the systems they study would be any exception.

      Kate Raworth's Donut Economics thesis is a step in the direction of reframing economics towards cooperation and creating a self-sustaining world.

    1. The $11.8 billion mistake that led to Bed, Bath & Beyond’s demise by Chris Isidore

      Share repurchases of $11.8 billion since 2004 may have led to the downfall and ultimate bankruptcy of Bed, Bath, & Beyond.

    2. Share repurchases are a way for companies to return cash to shareholders indirectly, without them having to pay taxes as they would on a stock dividend. The idea is that by reducing the number of shares outstanding, each remaining share of stock in the hands of investors becomes more valuable.
    1. Based on yesterday's discussion at Dan Allosso's Book Club, we don't include defense spending into the consumer price index for calculating inflation or other market indicators. What other things (communal goods) aren't included into these measures, but which potentially should be to take into account the balance of governmental spending versus individual spending. It seems unfair that individual sectors, particularly those like defense contracting which are capitalistic in nature, but which are living on governmental rent extraction, should be free from the vagaries of inflation?

      Throwing them into the basket may create broader stability for the broader system and act as a brake via feedback mechanisms which would push those corporations to work for the broader economic good, particularly when they're taking such a large piece of the overall pie.

      Similarly how might we adjust corporate tax rates with respect to the level of inflation to prevent corporate price gouging during times of inflation which seems to be seen in the current 2023 economic climate. Workers have seen some small gains in salary since the pandemic, but inflationary pressures have dramatically eaten into these taking the gains and then some back into corporate coffers. The FED can increase interest rates to effect some change, but this doesn't change corporate price gouging in any way, tax or other policies will be necessary to do this.

    2. Why do we devalue education? Is it such a commodity now that its transmission value is worth pennies on the dollar?

      Is Government requirement and support for education part of what causes the devaluation of the "educational market"? If so, how would one decouple this process to increase the wages of educators? Is a capitalistic version the best way to go, or is it better to socialize it further and inject more money into it versus other choices?

      Major nationwide strike forming minimum wage with variances for local consumer indices and city/state costs of living? Something which would drive competition for child care and teaching spaces? Wages that would push up the social value of education? Create a market for competition for teachers at the local level as well as between areas?

    3. Link to: https://hypothes.is/a/lV19ytGBEe2ynWMu34UKUg

      This depreciation is done at the lowest level of exchange and caused the system to collapse rather quickly. What level is our current exchange done at such that the inequalities are pushed up multiple levels making the system seem more stable? How is instability introduced? How could it be minimized?

      Our current system is valued both by time and skill (using the measure of payment per hour).

      Compare this with salespeople who are paid on commission rather than on an hourly basis. They are then using their skill of sales ability and balancing time (and levels of chance) to create their outcomes, but at the same time, some of their work is built on the platform that sales management or the company provides. Who builds this and how do they get paid for it? Who provides sales leads? How is this calculated into the system costs?

      How do these ideas fit into the Bullshit Jobs thesis?

    4. Tradesmen, too, were quick to see that the exchange might be worked to their advantage; they brought unsaleable stock from their shops, exchanged it for labour notes, and then picked out the best of the saleable articles. Consequently the labour notes began to depreciate; trouble also arose with the proprietors of the premises, and the experiment came to an untimely end early in 1834.

      The labour exchange at Gray's Inn Road which began on September 3, 1832, which was based on Robert Owen's idea in The Crisis (June 1832), eventually collapsed in 1834 as the result of Greshham's Law in which "bad money drives out good." In this case, rather than money the object was the relative value of goods which were exchanged based on Labour notes. Labour notes were used to exchange unsaleable stock in shops for labour notes which were then used to purchase more valuable goods. This caused depreciation of the labor notes ultimately causing the experiment to collapse in 1834.

  14. Mar 2023
    1. Ads, Andrew and James discuss where the the climate movement is right now, how deep time plays into the effects we are having on the planet, when good people do bad things because of poor systems and what happens next if 1.5C fails.
      • 21:52 Carbon credits, carbon markets
        • it's a scam designed to perpetuate fossil fuel use, in a phoney war against the climate crisis
        • Offsets were designed to allow polluters to pay others to create schemes that would compensate or "offset" that pollution. The classic example WAS afforestation, the planting of trees that can sequester that carbon.
        • Carbon neutrality comes from this idea that you can keep polluting if you offset it and become "carbon neutral"
        • A company may decarbonize a lot of their supply chain but may struggle to get rid of airflights around the world. In that case, they use offsets. When companies analyze the very difficult choices, they take the easy way out and use carbon offsets
        • However, there is so much offsets for afforestation now that there isn't enough land on earth
        • Carbon markets are a recipe for grifting and fraud or zero impacts
        • This is the current state of offsets

      31:00 Shell oil carbon offset greenwashing scam - the sky zero proposal - Shell claims they can offset all the O+G emissions out of the ground - it is preposterous - there's not enough land on earth when you tally up all the carbon offset afforestation schemes

      • 32:30 Neo-colonialism

        • rich white man can offset his emissions by buying land from a developing nation. Now the indigenous people cannot use that land for any reason.
        • also, will require huge amount of water to grow those trees
        • we don't have enough land and we don't have 100 years, only 5 years.
        • nature-based solutions are an industrial, myopic approach
      • 37:00 Deferred Emission Reduction

        • a lot of carbon credits are called deferred emission reduction credits.
        • this is avoided emissions - ie. trees in a forest with 100 ton of sequestering potential
        • this is promise to not destroy the biosphere any further so it's not removing any existing carbon
        • maybe multiple people might own the same forest, or someone might come along and burn it down
        • Trees are vulnerable to climate impacts - ie. Microsoft bought a large forest in California that later burned down in a climate change intensified wildfire
      • 40:00 can we do anything within the extractive capitalist system?

        • some people claim that as long as extractivist capitalism still persists, we cannot have system change
        • also a neocolonialist element - global north exploited the global south to create most of the emissions in the atmospheric commons
        • a number of people are beginning to see that an extractivist capitalist system is not in line with effectively addressing the climate crisis
        • wind, solar, etc has displaced electricity generation in a number of countries like in the UK. However, these are only a few countries.Renewables are helping increase overall energy production
      • 44:22: Stop burning fossil fuels

        • t doesn't matter if investments in renewables triple. It won't make a difference if we don't significantly stop burning fossil fuels at the same time.
      • 47:00 economic growth prevents real change

        • Insisting on 1, 2 or 3% growth, will limit the response to the climate threat to render it irrelevant
        • Climate change is still mostly an optimization problem. They are more concerned with economic damage.
        • Economists believe that anything that threatens economic growth cannot be accepted
      • 51:00 Degrowth making headway

        • Degrowth scholars are getting more attention on the need to decouple economic grwoth from climate policies
      • 52:10 Is there a positive future scenario - The role of solidarity

        • Solidarity is the greatest strength we can harness.
        • The success of Doughnut Economics gives me hope
        • The richest 1% must reign in their impacts and redistribute to allow the impoverished to live humane lives
        • We can all have good lives and we don't have to manufacture that wonder
        • This is what it is to be human
    1. Within the Earth Commission, we aim to propose ‘safe and just Earth system boundaries’ (ESBs) that go beyond planetary boundaries as they also include a justice perspective and suggest transformations to achieve them3.
      • The = Earth Commission,
      • proposes ‘safe and just Earth system boundaries’ (ESBs)
      • that go beyond planetary boundaries as
        • they also include a justice perspective
        • suggest transformations to achieve them.
      • Safe and just ESBs aim to:

        • stabilize the Earth system,
        • protect species and ecosystems,
        • avoid tipping points,
        • minimize ‘significant harm’ to people while ensuring access to resources for a dignified life and escape from poverty.
      • If justice is not considered,

      • the biophysical limits may not be adequate
      • to protect current generations from significant harm

      • Comment

      • Similar to aims of doughnut economics
    2. Raworth and colleagues have pushed for social issues and equity to underpin the planetary boundaries by highlighting the social foundations in ‘doughnut economics’27. We build on these ideas (Fig. 1) to propose the concept of Earth system justice
      • = Earth system justice
      • build upon = Doughnut economics socio-economic boundaries.
    1. On the public end of the spectrum, good protocols for environmental stewardship can bring endangered species back from the brink of extinction, and restore delicate ecosystems.

      Reminds me of some of the work of the Center for New Economics like: - Community Land trust program - The Commons Program

      and I imagine this is strongly referencing the Yellowstone story? More here in this amazing Wollheben book

    1. //

      • This is a good resource to explore doughnut economics at a national scale for many countries of the world.
      • The two quadrants show a major pattern and dualism between 1) many developed countries that can meet socio-economic well-being, but only at the high price of exceeding planetary boundaries, and 2) many countries that stay under planetary boundary limits, but only at the expense of poor socio-economic indicators.
      • The conclusion of the study is that currently, a good life for all within planet boundaries does not exist
    1. TheCalculagraph

      Beyond having people make direct copies of cards by hand or using carbon paper, The Calculagraph Company manufactured a copying machine for duplicating data.

      There is an accompanying picture (which I haven't copied here). Advertisement from 1906 System Magazine:

      The Calculagraph<br /> Makes individual records of actual<br /> working time on separate cards<br /> which may be used interchangeably<br /> for Cost Accounting, for Pay-rolls and<br /> for a number of other purposes with-<br /> out copying or transcribing a single<br /> figure, by simply assorting the cards<br /> and adding the records directly from<br /> their faces.<br /> A card containing all the work<br /> records of one man for a week may<br /> be useful for pay-roll purposes, but it<br /> is utterly worthless for learning the<br /> cost of products, until all the items<br /> have been copied or transcribed for<br /> classification.<br /> The Calculagraph requires a large<br /> number of cards in a factory employ-<br /> ing several hundred persons, but it<br /> Saves Clerical Labor. (In one<br /> factory it saves $150.00 per week).<br /> Cards Are Cheaper Than Labor<br /> The Calculagraph Makes No<br /> Clerical Errors.<br /> Let us send you our printed matter.<br /> CALCULAGRAPH COMPANY<br /> 1414 JEWELERS BUILDING, NEW YORK CITY

    1. Piketty, Thomas. A Brief History of Equality. Translated by Steven Rendall. Harvard University Press, 2022. https://www.hup.harvard.edu/catalog.php?isbn=9780674273559.

      annotation target: url: urn:x-pdf:61f07d62a5664b0280bb35ee2d6a69e5



    1. In short, in the absence of legal tender laws, the seller will not accept anything but money of certain value (good money), but the existence of legal tender laws will cause the buyer to offer only money with the lowest commodity value (bad money), as the creditor must accept such money at face value.

      During the coronavirus pandemic, many vendors facing inflation began to pass along the 3% (or more) credit card processing fees to their customers. Previously many credit card companies would penalize vendors for doing this (and possibly cut them off). This fee was considered "the cost of doing business".

      Some vendors prior to the pandemic would provide cash discounts on large orders because they could circumvent these fees.

      Does this affect (harm) inflation? Is it a form of Gresham's law at play here? What effect does this have on credit card companies? Are they so integral to the system that it doesn't affect them, but instead the customers using their legal tender?

    2. In economics, Gresham's law is a monetary principle stating that "bad money drives out good". For example, if there are two forms of commodity money in circulation, which are accepted by law as having similar face value, the more valuable commodity will gradually disappear from circulation.[1][2] The law was named in 1860 by economist Henry Dunning Macleod after Sir Thomas Gresham (1519–1579), an English financier during the Tudor dynasty. Gresham had urged Queen Elizabeth to restore confidence in then-debased English currency. The concept was thoroughly defined in medieval Europe by Nicolaus Copernicus and known centuries earlier in classical Antiquity, the Middle East and China.

      Gresham's law is an economic monetary principle which states that "bad money drives out good."

      It relates to commodity value, particularly in coinage, where cheaper base metals in coins will cause more expensive coinage to disappear from circulation.

    1. Studies published so far either use a per-capita approach that assigns a value derived from the global threshold, whether it can have consequences on the stability of the Earth System or not, or they calculate a local boundary that ignores the global relevance of the concept. Only Zipper et al. (2020) have developed a framework for the regional application of the freshwater Planetary Boundary. This framework is able to combine both a fair share based on the global boundary and a local safe operating space based on locally relevant control and response variables. They divided the water Planetary Boundary into six sub-boundaries as per Gleeson et al. (2020), which reflect the different functions of water within the Earth System, and represent five different stores of water (atmospheric water, soil moisture, surface water, groundwater and frozen water). Each store of water can either have a boundary only at the global/local level, in which case only the relevant boundary will be used, or it can be relevant at both scales. In this case, if the control variable of the boundary is different for the global and the local scale, two boundaries will result, with two different control variables. If the control variable is the same, the more conservative boundary will be

      This cpatures the key challenges to downscaling esp to regional levels, along with a possible solution

    2. The review is organized around three key questions:1-How can one downscale a global concept (with physical borders) for operability for a country (within political borders)? (Section 2).2-What is the role of interactions among different boundaries? (Section 3).3-Can the concept of ecosystem services help to downscale the Doughnut and define the life within the SJOS? (Section 4).

      Article is sceptical of capacity to downscale global concepts, and of the capacity to link social and ecological dimensions of the doughnut

  15. Feb 2023
    1. Dieser Aufsatz ist eine argumentativ durchgeführte Übersicht zu ökonomischen Konzepten für eine regenerative Wirtschaft und Gesellschaft. Die Autor:innen verarbeiten sehr viel und – so weit ich das beurteilen kann – sehr relevante Literatur, und sie bringen dabei unterschiedliche Stränge zusammen. Zentrale Positionen sind dabei die biophysikalisch begründetet Kritik an der Wachstumsökonomie durch Georgescu-Roegen und seine Nachfolger, die Historisierung von Märkten duch Karl Polanyi, die institutionelle Ökonomie sowie Ansätze der Social and Solidarity Economy.

    1. Ever since President Reagan decided to stop enforcing U.S. anti-monopoly laws, the easy solution to competitive threat is to simply buy the competitor.

      Note for historical purposes.

    1. Mattei, Clara E. The Capital Order: How Economists Invented Austerity and Paved the Way to Fascism. Chicago, IL: University of Chicago Press, 2022. https://press.uchicago.edu/ucp/books/book/chicago/C/bo181707138.html.

      I've always wondered why the United States never used the phrase austerity to describe political belt tightening.

  16. Jan 2023
    1. Modern factory discipline was born on ships and on plantations. Itwas only later that budding industrialists adopted those techniques ofturning humans into machines into cities like Manchester andBirmingham.
    2. Kandiaronk, who took the position of anegalitarian and skeptical rationalist and held that the punitiveapparatus of European law and religion was made necessary only byan economic system arranged in such a way that it would inevitablyproduce precisely the behaviors that apparatus was designed to


    1. Spencer, in turn, was struck by how much the forces driving natural selection in On the Origin of Species jibed with his own laissez-faire economic theories. Competition over resources, rational calculation of advantage, and the gradual extinction of the weak were taken to be the prime directives of the universe.
    1. Sustainability researchers from the Rochester Institute of Technology point out that there is significant variation in the types and amounts of critical materials present in different reservoirs of coal waste. This means that not all waste will be profitable to purify. As the researchers have written, “The value of rare earths in a single ton of coal ash can vary from US$99 at a coal plant in Ohio to $534 at a West Virginia plant. With extraction costs expected to range between $380 and $1,200 per ton, not every coal plant’s ash will be a profitable place to find rare earths.” There are also concerns that the chemicals used to harvest critical minerals could be damaging.

      In the best case, the cost of extraction is about 70% of the possible value of the recovered minerals.

    1. Euronext today announced the launch of the CAC SBT 1.5°

      Euronext launches CAC SBR 1.5 - designed to facilitate.the adoption of mainstream ESG investment tools for investors and market

  17. Dec 2022
    1. doughnut economics does questionthe dominant economic growth paradigm [1,14]. How-ever, Brand et al. [49] see the absence of upper limits onthe social foundation as a particular limitation of thedoughnut, proposing that ‘societal boundaries’ areneeded to address injustice and slow the metabolism ofsocieties that overshoot ecological boundaries. Indownscaling efforts, determining such societal bound-aries would require powerful local leadership and in-tensive public engagement to foster their legitimacywhile also helping to identify the social and culturalresources that can support collective self-restraint [49].Such engagement may also help to counter the interestsof powerful actors who oppose socioeconomic limits orbenefit from greater inequality [69].

      !- local doughnut economics : challenges - incumbent power will resist constraints to socio-economic limits - local doughnut economic champions will need to provide strong leadership to counter such actors

    2. Translating the ambition behind the doughnut to localaction is inherently political given the demand for socialand economic shifts that imply a significant redistribu-tion of power and resources [23,65]. Critical social sci-ence research highlights the need for principles tounderpin such decision-making processes, ensuring thatgovernance for sustainable development is transparent,accountable, and responsive, particularly to those whoare marginalised [49].

      !- doughnut economics : local governance -will require major power shifts so becomes political - there is a need for transparency, accountability and responsiveness, especially to those who are marginalized

    3. he concept of planetary boundariesprioritising scientific expertise and discussed primarily inacademic debates [14], and the doughnut commonlyappealing to policy-makers and practitioners at nationalor subnational scales, neither has the traction acrossspatial scales that has been achieved through the steerby the UN in the case of SDGs.

      !- downscaling : planetary boundaries and doughnut economics - neither has the traction as SDGs

    4. If the doughnut is to bea practical tool for governance it will need to involve newconversations incorporating political institutions, civilsociety organisations, and the wider public

      !- downscaling : doughnut economics - challenges - wider stakeholder engagement than just scientific community is required

    5. downscaling poses the additional complexity ofunderstanding place-based dynamic systems to identifypathways that are safe and just over time [26,37]. Incomparison to national processes, where issues are ad-dressed by separate government departments and siloedpolicy agendas [22], local institutions may be better ableto generate integrative place-based policy and action[43,44]. However, institutional capacity and integrationmechanisms may be needed to support these kinds ofpolicies [45]. Applications of the doughnut present fur-ther challenges in this regard because of a need to in-tegrate and respond to changing scientific knowledgeregarding non-linear change, tipping points, interactionsand feedbacks [35], for which it may be difficult toidentify the implications for local contexts.

      !- downscaling : doughnut economics - challenges related to place-based dynamic systems

    6. Downscaling the doughnut may require more attentionto connectivity across scales than has been demanded bypast approaches to local governance for sustainable de-velopment. The task of downscaling global models in-tensifies established challenges around goal setting,indicator selection, data availability and ongoing mon-itoring [18,22,23,26,39] because it requires goal setting tobe informed by an understanding of context-specificsocial and ecological trends and how they interact toinfluence both local and planetary outcomes. There areparticular complications in incorporating a burden-sharing approach that explores the extent to which localactivity contributes to global trends and problems.

      !- downscaling : doughnut economics - challenges in downscaling

    1. Human choices and actions could narrow or widen the safe and just corridor for human development. Considering the complex interactions, feedbacks, and non-linearities within and between societal activities and Earth system behavior, we need to advance beyond previous frameworks such as the “donut” (Raworth, 2018) to understand when “safe” and “just” ranges do and do not overlap.

      !- limitations of : doughnut economic model - the interactions, feedbacks and nonlinearities between societal activity and earth system behavior is far too complex for the doughnut economic model

    2. safe as primarily referring to a stable Earth system and just targets as being associated with meeting human needs and reducing exposure to risks.

      !- in other words : "safe" and "just" - thinking in terms of doughnut economics, safe refers to staying within biophysical constraints and just refers to staying within socio-economic constraints of human civilization to ensure wellbeing

    1. in ecological economics and or environmental economics grandfathering is typically seen as the most unfair distribution and the reason why we do it also in a mission training system the first five 00:40:19 years I started with grandfathering because it's feasible as you start from where you are so it's realistic in a way and then you approach Industries or countries where they are so all the road maps start from 00:40:31 grandfathering because you start from where you are it doesn't mean that it's fair that some counters have very very high emissions per capita is it fair the United States had three times higher than Sweden per capita 00:40:43 and therefore they should have three times more allocation than Sweden well we can argue that so generally it's not fair but it's it might be feasible and the common budget differentiate 00:40:56 responsibility increases perspective capabilities principle there is no unique scientific answer to this it's an ethical issue that is worth a sincere public discussion and political 00:41:08 negotiation so we cannot really answer this in scientific way

      !- explanation : ecological economics grandfathering - starting where the country is at - is not fair, because currently, some countries have much higher carbon footprint - why should they be allowed to carry on and incrementally decrease - while other low carbon, undeveloped countries cannot?

    1. They didn't block new features for shits and giggles, though – the method to this madness was rent-extraction. The iron-clad rule of the Bell System was that anything that improved on the basic service had to have a price-tag attached. Every phone "feature" was a recurring source of monthly revenue for the phone company – even the phone itself, which you couldn't buy, and had to rent, month after month, year after year, until you'd paid for it hundreds of times over. This is an early and important example of "predatory inclusion": the monopoly carriers delivered universal service to all of us, but that was a prelude to an ugly, parasitic, rent-seeking way of doing business:

      Predatory inclusion is a form of rent-seeking in which one preys on customers using monopoly power to extract excessive value for small add-on services.

    1. to lowered economic productivity through reduced earnings. In addition,increased health costs amount to $192 billion, whereas costs associated withincreased crime and incarceration (increased victimization costs of street crime;increased corrections and crime deterrence; increased social costs of incarcer-ation) total $406 billion.

      Childhood poverty results in an annual loss of $294 billion due...

    2. Human capital consists of those skills and resources that eachof us brings into the labor market. They include the quantity and quality ofeducation we have attained, job training received, acquired skills and experi-ence, aptitudes and abilities, and so on.
    1. This is a case of what Paul Keller and I have called the Paradox of Open: the existence of power imbalances that leads to, at best, ambivalent outcomes of openness. It is a paradox that the success of open code software, both in terms of the reach of the technology and in economic terms, has happened through underfunded or entirely volunteer work of individual coders. This shows the limits of the open source development model that will affect the future growth of the Fediverse as well. 

      The Paradox of Open (Source) is as Keller and Tarkowski formulate it, that the clear socio-economic value and tech impact of open source comes from underfunded / volunteer work. Vgl [[Bootstrapping 20201007204011]] and the role of precarity in it. Makes me think about 1937 Ronald Coase's transaction costs which in [[Here Comes Everybody by Clay Shirky]] is used to derive a Cosean Floor (and Cosean Ceiling). Openness allows you to operate below the Cosean Floor, but it seems that to bootstrap beyond that first stage is harder. Are such projects incapable of finding a spot above the Floor further down the chain, or are they pushed aside (or rather 'harvested') by those already positioned and operating above that Floor? Perhaps your spot above the floor needs to be part of the design of the work done below the floor. What's the link with my [[Openheid en haar grenzen 20130131154227]] in which I position openness as necessity to operate in a networked environment, and as necessarily limited by human group dynamics and keeping those healthy? Balancing both is the sweetspot in the complex domain. Are we any good at doing that in other terms than just social group behaviour in a room? #openvraag what's the online/bootstrapping equiv of it? How did we do that for my company 11 yrs ago (in part by operating something else above the Floor alongside)?

  18. Nov 2022
    1. Hello! Daisy Thomas is my name. I recently earned an Economics Ph.D. degree from the University of Arizona, Tucson, USA. I earned my CSET AND CBEST (Multiple Subjects) teaching certificates on the side and graduated with a 7.75 GPA! I am an expert in Economics, statistics and Money Market. I worked on this Economics Homework Help and for exam purpose take my economics exam website and my client was so impressed with my work and also gave me 9.2/10 ratings. If you want to me to work for you then you can hire me anytime, I will never disappoint you.

  19. view.connect.americanpublicmedia.org view.connect.americanpublicmedia.org
    1. The word “kafala” in Arabic has traditionally been used to describe a social and moral “responsibility to another.”  Researchers Ray Jureidini and Said Fares Hassan write, “kafala contracts were used to protect the weak and vulnerable by instituting the patronage of a prominent local who provided whatever protection was required.” Think of raising an orphaned child, for example. In business, kafala originally referred to contracts where a guarantor assumes liability for another person (e.g. a cosigner for a loan).    Kafala nowadays is often used to describe the legal relationship between businesses and migrant workers. Employers, typically citizens, act as sponsors for workers and assume legal responsibility for their movement and actions in exchange for their right to work in a geographic area. 

      The use of kafala shows a shift from a meaning of social responsibility into a meaning co-opted by capitalism and social contract.

    2. Most of the tourist and sporting infrastructure had to be built at enormous expense — estimates range anywhere from$200 billion to $300 billion. Yet the return on investment for huge events like this is rarely positive. The Olympics are infamously pricey  to put on, and the economic benefits for residents of the host city are questionable.  So, with the big price tag and not much to show in return, why do countries like Qatar, Russia and Brazil offer up billions of dollars to host global sporting events? According to Victor Matheson, a professor of economics at the College of the Holy Cross and a former Major League Soccer referee, they may be seeking to burnish their reputations through international media coverage.   “If you’re putting any sort of significant money into infrastructure like Qatar obviously is doing, there’s just no way you can make that back on ticket sales, on media rights, [or] on the amount of money you make from tourists coming to visit your country,” Matheson said in an interview with Marketplace’s David Brancaccio. “So obviously, you’re hoping for some sort of long-run benefits, some sort of legacy, and often that is an improvement in your reputation, either as a tourist destination or as a world player in some ways.” 

      Alternate thesis for why countries and cities vie to host money-losing events like the World Cup and the Olympics: grift.

      With the necessary need for building infrastructure, there's easy and ample opportunity for cooking the books and pushing cash flow into the pockets of contractors and political figures as well as into the pockets of the governing bodies and their officials.

      Cross reference FIFA bribery

      Some of the money may go into the local economy and workers which is good, but who's really benefitting here? Where is the money going? Who is footing the loss? It can't all be written off to goodwill.

    1. I've been told since the first day I started working at the Division of Hospital Medicine at @UCSF that my work doesn't bring in $ to cover my salary. It's a narrative of manufactured scarcity, a common tactic in capitalism. The CEO is making $1.85 million plus bonuses.

      — Rupa Marya, MD (@DrRupaMarya) November 4, 2022
      <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

      A Hospitalist’s economic value is in what we *save* the system in terms of quality-driven care and patient throughput (DC/unit time), not in how much we bring in through profees. Because of how the system is structured, you’ll only see our value when we aren’t there.

      — Rupa Marya, MD (@DrRupaMarya) November 4, 2022
      <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

      This sounds a lot like hospitalists fall under David Graeber's thesis in Bullshit Jobs that the more necessary and useful you are the less you're likely to get paid and be valued.

      I suspect the ability to track an employees' direct level of productivity also fits into this thesis. One can track the productivity of an Amazon warehouse worker or driver, but it's much more difficult to track the CEOs direct productivity.

    1. Leeson, R. A. Travelling Brothers: The Six Centuries’ Road from Craft Fellowship to Trade Unionism. London: G. Allen & Unwin, 1979.


      Suggested by Jerry Michalski on 2022-11-02

  20. Oct 2022
    1. kriminalisering av deltagande i kriminella gäng

      Undrar om ekonomisk brottslighet menas. Den utgör minst 100 miljarder kronor per år, alltså minst 1,8% av sveriges BNP, medan flyktingimmigration kostar cirka 1,0% av sveriges BNP; observera att flyktingimmigration bidrar till sveriges BNP, vilket ekonomisk brottslighet aldrig gör.

    2. Företagsbeskattningen ska vara konkurrenskraftig

      "Konkurrenskraftig" brukar vara högerspråk för att vidare ge företag fördelar medan fattiga individer försvagas.

      Sverige har under de senaste 25 åren urholkats till förmån för rika, och detta underlättar saken. Från min egna bloggpost som citerar ekonomijournalisten Andreas Cervenkas bok "Girig-Sverige":

      Sweden has undergone extreme change in the last 25 years. Where I guess most people around the world believe Sweden to be a socialist haven, check out this list of changes:

      • 1997: wealth tax was abolished for owners of more than 25% of stock in public companies. This occurred after pressure from, among others, Stefan Persson (owner of H&M; he's now the wealthiest person in Sweden)
      • 2003: owners with more than 10% of stocks in a company wouldn't have to pay taxes on dividends and sales
      • 2004: the inheritance tax was abolished
      • 2004: the tax on gifts was abolished
      • 2006: the tax on dividends for sole traders were, in some cases, lowered from 30% to 20%
      • 2007: the wealth tax was abolished
      • 2008: the property tax (in per cent) was abolished and replaced with a set cost that in 2021 was 8,524 crowns (about 850 euros)
      • 2008-2012: the company tax was lowered from 28% to 22%, and somewhat later, once again lowered, this time to 20.6%
      • 2012: investment savings accounts (ISK) was introduced. Profits and pay-outs are tax-free and taxes are replaced by a lump sum.
    1. The history of recessions in the United States shows that they are a natural, though painful, part of the business cycle. The National Bureau of Economic Research determines when a recession starts and ends.1 The Bureau of Economic Analysis measures the gross domestic product (GDP) that defines recessions.2 The Bureau of Labor Statistics reports on the unemployment rate.3Bureau of Labor Statistics. "How the Government Measures Unemployment." Unemployment often peaks after a recession ends because it is a lagging economic indicator.4 Most employers wait until they are sure the economy is back on its feet again before hiring permanent employees.5 There have been 19 noteworthy recessions throughout U.S. history.

      The Bureaus apply such measurements as GDP and unemployment rate to analyze the main reasons of the US recessions throughout the history.

    1. Built and assembled without anyparticular significance or any value, Walter de Maria's Boxes for MeaninglessWork could also be an echo of Duchamp's sound strategies. In aparallel project, Robert Morris realized Card File (1962-3), a series ofcards on which a series of hazy concepts are written and laid out alphabetically on a vertical support. Through this initial process, Morriscreated a description of the necessary stages required to achieve thework. The terms used in this file include such things as accidents,alphabets, cards, categories, conception, criticism, or decisions, dissatisfactions, durations, forms, future, interruptions, names, numbers,possibilities, prices, purchases, owners, and signature. As a result, thework had no content other than the circumstances of its execution.Through this piece, Morris also asserted that if one wished to understand and penetrate all subtleties of the work, one would have toconsider all the methods used in bringing it forth. The status of thework of art is immediately called into question, because the range ofcards can undergo a change:In a broad sense art has always been on object, static and final, eventhough structurally it may have been a depiction or existed as afragment. What is being attacked, however, is something more thanart as icon. Under attack is the rationalistic notion that art is a formof work that results in a finished product. Duchamp, of course,attacked the Marxist notion that labor was an index of value, butReadymades are traditionally iconic art objects. What art now has inits hand ismutable stuffwhich need not arrive at the point of beingfinalized with respect to either time or space. The notion thatworkis an irreversible process ending in a static icon-object no longer hasmuch relevance.25Marcel Duchamp's musical and "Dismountable approximation" illustrate this process perfectly. John Cage recalled that "for his final opus,Given: 1. The Waterfall, 2. The Illuminating Gas, exhibited in Philadelphia, [Duchamp] wrote a book [the "Dismountable approximation"]that provided a blueprint for dismantling the work and rebuilding it.26It also provided information on how to proceed, as well as the only definition of the musical notation, isn't that so? So it is a musical work ofart; because when you follow the instructions you produce sounds."27But Given: 1. The Waterfall, 2. The Illuminating Gas was never createdas a musical piece, even though it is entirely "possible to do it. . . .Andif one takes it like a musical piece, one gets the piece [that Duchamp]This content downloaded from on Fri, 18 Dec 2015 12:35:27 UTCAll use subject to JSTOR Terms and Conditions

      card file as art!

  21. Sep 2022
    1. 10 percent of children spend atleast half of their childhood living in poverty.
    2. Although the causes of poverty have not been examined in this chapter,the findings presented here suggest that given its widespread nature, povertyappears systematic to our economic structure. In short, we have met the enemy,and they are us.