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Items tagged with: economics
"Are most #Americans better off financially than they were before the pandemic?
...If prices go up but people’s incomes go up faster, then the #CostOfLiving decreases. And that is exactly what has happened in the #US over the past five years.
...When #inflation was at its worst, in late 2021 & 2022, prices were rising too fast for workers’ pay to keep up. Over the course of 2023, however, the rate of inflation plummeted while #wages kept rising"
https://www.theatlantic.com/ideas/archive/2024/06/us-economy-excellent/678630/
"But if, instead of asking how people feel about the #economy, we ask how it’s objectively performing, we get a very different answer.
Let’s start with economists’ favorite metric: growth...
Right now America’s economic-growth rate is the envy of the world. From the end of 2019 to the end of 2023, #US #GDP grew by 8.2%—nearly twice as fast as Canada’s, 3 times as fast as the European Union’s, & more than 8 times as fast as the United Kingdom’s."
https://www.theatlantic.com/ideas/archive/2024/06/us-economy-excellent/678630/
"America’s #economic performance has left other countries in the dust & even broken some of its own records. The #growth rate is high, the #unemployment rate is at historic lows, household #wealth is surging, & #wages are rising faster than costs, especially for the #workingclass.
There are many ways to define a good #economy. #America is in tremendous shape according to just about any of them.
The #American #public doesn’t feel that way"
https://www.theatlantic.com/ideas/archive/2024/06/us-economy-excellent/678630/
"From the beginning of the pandemic through the fall of 2023, the last period for which we have good comparative data, real #wages in both #Europe and #Japan fell. In #Germany, workers lost 7 percent of their purchasing power; in #Italy, 9 percent. By these metrics, the only workers in the entire developed world who are meaningfully better off than they were four years ago are #American ones."
https://www.theatlantic.com/ideas/archive/2024/06/us-economy-excellent/678630/
#Economics #Economy #Biden #Bidenomics #US #USA #UnitedStates #News
Anyone have a good resource (especially tutorials! especially in R!) that explains causal analysis using instrumental variables in an intuitive, sticky way?
I don't use them, but I read a lot of work that does, and every time I teach myself how it works, the intuition sticks for about an hour, and then I'm back at square one.
One of the best explanations of economics.
https://youtu.be/l5betsZNsGM?si=notracking
#tv #cheers #economics #monopoly
Cheers - The Guys Play Monopoly
I edited these clips together from the 8.10 episode "The Art of the Steal". It involves Woody, Norm, Frasier and Cliff playing Monopoly.Obviously, NBC/Univer...YouTube
Another excellent blog post, @pluralistic .
"Despite being a raving commie loon, Smith's observation was so undeniably true that regulators, policymakers, and economists couldn't help but acknowledge that it was true. The trustbusting era was defined by this idea: if we let the number of companies in a sector get too small, or if we let one or a few companies get too big, they'll eventually start to rig prices."
-- Cory Doctorow
From: https://pluralistic.net/2024/06/05/your-price-named/#privacy-first-again
#PoliEcon #Economics #AntiTrust
The "Enlightenment" of Western culture makes for a nice story, but that's really all it is — a story.
#Science #Economics #History #Capitalism
geological survey
#permaculture #design
Self-interest + shortermism + monopoly power = whatever this shit is:
"Frontier knew that it could make a billion dollars in profit over a decade by investing in fiber build-out, but it chose not to, because stock analysts will downrank any carrier that made capital investments that took more than five years to mature. Because Frontier's execs were paid primarily in stock, they chose... to leave a billion dollars sitting on the table..."
https://pluralistic.net/2024/05/16/symmetrical-10gb-for-119/#utopia
Biden's tariffs on Chinese imports are understandable politically. Sadly, they pit workers against middle-class consumers and against the planet.
There's a better way to accomplish just the same goals — and it aligns politics, industrial policy, and climate coals:
#climate #EVs #tariffs #economics #USpolitics
Toothsome 1995 paper.
Finance and Economic Breakdown: Modeling Minsky's "Financial Instability Hypothesis"
Minus the math, which can be skipped over, for his discussion, the paper lays out the basics of modern economics wrt to economic cycles and labor v capitalist v creditor (banks) income.
It’s the basic model to reason about our economy and its state.
https://keenomics.s3.amazonaws.com/debtdeflation_media/papers/JPKE1995PageImage9509152794.pdf
also on JSTOR
https://www.jstor.org/stable/4538470
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