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Rethinking Capitalism: like the Feynman lectures but for economics

From 1961-1963 Richard Feynman -- one of the preeminent physicsts of his day -- taught an undergraduate class in physics at Cal Tech, a gig that was nominally well below his paygrade, and gave such a virtuoso performance that "They Feynman Lectures" have gone down in the annals of physics history as some of the best introductory material on physics in existence. Mariana Mazzucato is one of the leading market-sceptic economists of our age, whose instant-classic 2013 book The Entrepreneurial ...
Tags: Video, News, Economics, Scholarship, Feynman, Richard Feynman, University College London, Cal Tech, Mariana Mazzucato, Mazzucato, Rethinking Capitalism, The Entrepreneurial State, Institute for Innovation and Public Purpose IIPP, IIPP


Wealth inequality is literally killing us. The economy should work for everyone.

Economic hardship is linked to physical and psychological illness, resulting in added healthcare expenses people can't afford.The gig economy – think Uber, Lyft, TaskRabbit, Handy – is marketed as a 'be your own boss' revolution, but it can be dehumanizing and dangerous; every worker is disposable.The cooperative business model can help reverse wealth inequality. Squeezed: Why Our Families Can't Afford America by now at amazo...
Tags: Security, Work, Uber, Journalism, Economics, Teaching, Mental Health, Work-life balance, Innovation, Inequality, Afford America


What is the Green New Deal?

Recent protests by the Sunrise Movement have taken the Green New Deal from forgotten policy to trending hashtag.The Green New Deal aims to move the U.S. to 100% renewable energy within a decade.Proponents also hope to catalyze a top-down restructuring of the U.S. economy and advance social justice issues. None In October of last year, the United Nations' Intergovernmental Panel on Climate Change released a special report, titled 'Global Warming of 1.5°C'. The report's authors believed that human...
Tags: Politics, Resources, Activism, Obama, Democracy, Government, Senate, White House, Politico, Environment, US, Economics, Sustainability, Policy, Harvard, Atlantic


Trump's economy is great for billionaires, not for working people | Bernie Sanders

Instead of giving tax breaks to billionaires and large corporations, we must demand that they pay their fair shareDonald Trump tells us the US economy is “absolutely booming”, the “strongest we’ve ever had” and “the greatest in the history of America”.Well, at his Mar-a-Lago country club where the price of admission has doubled to $200,000, he is right. The economy could not be better for the top 1% and corporate America. Continue reading...
Tags: US, America, Economics, Poverty, US economy, Donald Trump, Inequality, Bernie Sanders, Trump


Global tensions holding back climate change fight, says WEF

After extreme weather-related events, there is ‘need for international cooperation’Growing tension between the world’s major powers is the most urgent global risk and makes it harder to mobilise collective action to tackle climate change, according to a report prepared for next week’s World Economic Forum in Davos, Switzerland. Related: Deadly weather: the human cost of 2018's climate disasters – visual guide Continue reading...
Tags: Business, Climate Change, Environment, Economics, Davos, Global Economy, Global climate talks, Switzerland, Wef, Davos Switzerland, Davos 2018


'Aquinas and the Market' and the Possibility of a "Truly Humane Economic System"

Rational value dominates our moral as well as our economic decisions today. What began as a theory examining financial data by mathematical applications turns into the contemporary default system by which goods are measured and value ascribed. While theologians along with many humanists have challenged this paradigm, very few have the acumen to analyze markets and to interpret financial data. Economist and theologian Mary L. Hirschfeld pioneers an informed investigation into the relationship bet...
Tags: Business, Music, Review, Religion, Book Review, Economics, Harvard, Capitalism, Pope Francis, Philosophy, Notre Dame, Wells Fargo, Aristotle, Simon, Villanova University, Hirschfeld


Student debt: An American horror story

College went from being a beneficial step in a young person's life to a huge financial burden for decades into their life. Since the 1970s, the cost of education has gone up between 400–1200%, depending on the kind of school you go to. Can we turn it around? Only societal change — and a good hard look in the mirror — can really make college a better move for young Americans.
Tags: Video, Money, Education, Finance, Economics, Teaching, Capitalism, Innovation, Big Problems, Jwplatform.com


Anti Trust

The United States Court of Appeals for the Fourth Circuit affirmed the district court in a law firm dispute The dispute here is between two firms that represented plaintiffs in a large antitrust class action. The appellant, Criden & Love,... [Author: Legal Profession Prof]
Tags: Law, Economics, Billable Hours, Fourth Circuit, United States Court of Appeals, Legal Profession Prof


How the finance industry can save the world

For millennia, the finance industry has been a primary culprit in global warming. Now it's time for finance to right its wrongs and provide the solution.It's easy to read about the current and future state of our climate and have a fit of despair. For years, the scientific consensus was that we'd be fine if temperatures increased from pre-industrial levels by less than 2°C. But the UN's recent global warming report revises the threshold, showing that a 1.5°C increase will have catastrophic effec...
Tags: Money, Climate Change, Finance, Environment, US, Unilever, Economics, Sustainability, Innovation, Un, GlaxoSmithKline, Oxford University, Jones, Trump, Myles Allen, Williamson


China will overtake the U.S. as world’s top economy in 2020, says Standard Chartered Bank

The Standard Chartered Bank, a British multinational banking and financial services company, recently issued a report to clients outlining projections about the world economy up until 2030.The report predicts Asian economies will grow significantly in the next decade, taking seven of the top 10 spots on the list of the world's biggest economies by 2030.However, the researchers formed their predictions by measuring purchasing power parity at GDP, which is an approach that not all economists would...
Tags: Asia, Europe, China, India, US, Economics, United States, Standard Chartered, Innovation, PPP, Marketwatch, Standard Chartered Bank, U K, Chu, West India, Canada France


'Ridiculous': report Ivanka Trump could lead World Bank meets scorn

First daughter’s name said to be ‘floating around Washington’ but it wouldn’t be her first unconventional roleThe Financial Times reported on Friday that the name of Ivanka Trump is “floating around Washington” regarding the need for a new president of the World Bank.The role will soon be open due to the surprise departure of the current president, Jim Yong Kim. But on politics Twitter, at least, the idea that his replacement might be the first daughter met with widespread derision. Continue rea...
Tags: Business, Washington, Economics, Banking, US news, US politics, Global Economy, World Bank, Jim Yong Kim, Donald Trump, Financial Times, Ivanka Trump


The suburbs are the spiritual home of overconsumption. But they also hold the key to a better future

Suburban affluence is the defining image of the good life under capitalism, commonly held up as a model to which all humanity should aspire.More than half of the world's population now lives in cities. Yet with the global economy already in gross ecological overshoot, and a world population heading for more than 11 billion, this way of living is neither fair nor sustainable. To live within our environmental means, the richest nations will need to embrace a planned process of economic “degrowth"....
Tags: Climate Change, Australia, Environment, Economics, Sustainability, Society, Capitalism, Innovation, Brendan Gleeson, Consumerism, Suburbia, James Kunstler, Ronald Inglehart, Retrosuburbia, Samuel Alexander Research


What are biggest risks to the global economy in 2019? | Kenneth Rogoff

From China to Europe and beyond it is likely to be a nerve-racking yearAs Mark Twain never said: “It ain’t what you don’t know that gets you into trouble. It’s what you think you know for sure that just ain’t so.” Over the course of this year and next, the biggest economic risks will emerge in those areas where investors think recent patterns are unlikely to change. They will include a growth recession in China, a rise in global long-term real interest rates and a crescendo of populist economic ...
Tags: Europe, Business, China, US, Economics, World news, US news, Asia Pacific, Global Economy, Mark Twain, Donald Trump, Kenneth Rogoff


How financial literacy impacts youth prostitution, AIDS, and women’s survival

Around the world, girls are in positions of extreme vulnerability and risk. How can we increase the survival and empowerment of girls and women who have no education, who are married off as children, forced into prostitution, and who live in regions where AIDS/HIV is common?One proven strategy is financial literacy programs, from as early as age six. It is the bedrock of change. When girls understand finance, savings, and how to think assess opportunity and risk, it is proven to impact seemingly...
Tags: Asia, Money, Children, Sex, Finance, Africa, Women, Economics, Poverty, Vulnerability, Innovation, Bruce, Sexual Violence, Judith Bruce Invest


No-deal Brexit would put thousands of UK jobs at risk, CBI to warn

Exclusive: Carolyn Fairbairn of industry body will urge MPs to put economy before politicsBrexit: what’s going on and what happens next?A no-deal Brexit would have profound economic consequences with GDP shrinking by up to 8%, putting thousands of jobs at risk, the Confederation of British Industry is to warn.The business body is urging MPs to back Theresa May’s deal, describing it as a “solution” businesses can work with as it delivers a transition period and avoids a “hugely damaging cliff edg...
Tags: Business, Politics, UK, Economics, Cbi, Mark Carney, European Union, Conservatives, UK News, Theresa May, Brexit, Confederation of British Industry, Carolyn Fairbairn, Confederation of British Industry (CBI


The U.S. states hit hardest by the federal government shutdown

A new map from WalletHub, generated by comparing various federal data, shows the states most affected by the government shutdown.About 800,000 federal employees are furloughed or are working without pay.Government shutdowns have become an increasingly common political tool, but it wasn't until the early 1980s that they started resulting in the closing of federal agencies. None Friday marked the 21st day of the federal government shutdown, tying the record with the longest-running one in American...
Tags: Politics, Congress, Government, White House, Economics, United States, Alaska, Hawaii, Innovation, Secret Service, District Of Columbia, Vox, Border Patrol, Forest Service, Standard Poor, Federal Bureau of Prisons


Could a “brain drain” hit the U.S.?

Brain drain is a terrible phenomenon with a long and ignoble history. Recently, it has occurred in several countries that were doing well even a few years ago.Can it happen here?Many of us who have ever dared to complain about the place we live in have heard the juvenile rebuttal "If you don't like it, why don't you leave?" As it turns out, sometimes people take that advice. When a country's educated, intelligent, or entrepreneurial citizens take the advice all at once, the phenomenon is called ...
Tags: Europe, Politics, Education, Australia, Government, US, America, Economics, Turkey, Canada, United States, Innovation, Venezuela, Erdogan, Hugo Chavez, Turkey Germany


The states with the happiest Americans spend more money on ‘public goods’

Study reveals the Americans who live in states that spend more on tangible "public goods" are happier. This spending makes communities "more livable." Pain of higher property taxes largely balanced out by higher property values and quality of life. For those of us who don't have enough money to pave our own roads, pay for security — aka police departments — or develop recreational spaces such as parks, there's really no avoiding taxes. Taxation, after all, allows each of us to contribute just ...
Tags: Politics, Happiness, Economics, Policy, Infrastructure, Innovation, Urban Planning, Baylor, Social Science Research, NORC, Flavin, General Social Survey, Patrick Flavin, U S Census Bureau Study


Angela Merkel on 'victory tour' visit to Athens

Greek PM Alexis Tsipras praises new ‘relationship of trust’ with German chancellorAngela Merkel flies into Greece on Thursday for a two-day visit to the country that has posed some of the greatest challenges of her time at the helm of Europe’s powerhouse economy.It will be a trip heavy with symbolism for a leader whose policies have defined the continent and who has announced she will leave office at the end of her term in 2021. Continue reading...
Tags: Europe, Greece, Germany, Angela Merkel, Economics, Athens, Merkel, Eurozone, Alexis Tsipras


Chinese car sales fall for first time in more than 20 years

Trade war with US is handbrake on growth in world’s second biggest economySales of cars in China have dropped for the first time in almost 30 years, a sign of the importance of ending the country’s trade dispute with the US as the world economy begins to falter.As the US and China appeared to be edging closer to ending the trade dispute between them on Wednesday, the figures illustrate how the bitter standoff, as well as sluggish local demand, have acted as a handbrake on growth in the world’s s...
Tags: Business, China, US, International Trade, Economics, World news, US news, Asia Pacific, Global Economy, Automotive Industry


Germany recession fears grow, but trade war optimism boosts markets - as it happened

All the day’s economic and financial news, as Germany’s factories suffer a 4.7% annual drop in outputLatest: Trump’s trade war tweetIntroduction: German industrial output slumped in NovemberAnalysts: Recession risks have increasedING: German economy still strongMinister: Don’t badmouth Germany 9.13pm GMT PS: Related: World Bank warns of wider no-deal Brexit fallout 9.11pm GMT And finally, the US stock market has closed higher for the third day running.Tuesday was another strong day on...
Tags: Europe, Business, China, Germany, US, Economics, UK News, World Bank, Eurozone, Trump


Canada's housing market is slowly but surely imploding, and Canadians are more exposed that the US was in 2008

After 20 years of unprecedented lows, Canada's central bank is gradually raising rates; this, combined with strict rules on new loans, empty house taxes in overheated cities like Vancouver, and mandatory ownership disclosures (which keep money launderers out of the market) are depressing the Canadian housing market, and the prognosis is not good. Canada's economy is heavily dependent on construction (8% of the job market) and consumer spending, and both of these will fall as cheap capital e...
Tags: Post, News, Time, US, Toronto, Debt, Economics, Canada, Property, Vancouver, Calgary, Graeber, Urban Theory, Toronto Canada, CIBC, Mendes


Germany recession fears grow, but trade war optimism boosts markets - business live

All the day’s economic and financial news, as Germany’s factories suffer a 4.7% annual drop in outputIntroduction: German industrial output slumped in NovemberBiggest annual drop since the financial crisisAnalysts: Recession risks have increasedING: German economy still strongMinister: Don’t badmouth Germany 1.52pm GMT Hu Xijin, editor of China’s Global Times, tweets:China-US trade talks haven't concluded after two days of tough work. I heard they will continue tomorrow. This sends a signal:...
Tags: Europe, Business, Wall Street, China, Germany, Economics, UK News, Eurozone, Trump, Global Times, China US, Hu Xijin


Germany recession fears grow after industrial output posts biggest fall since 2009 - business live

All the day’s economic and financial news, as Germany’s factories suffer a 4.7% annual drop in outputIntroduction: German industrial output slumped in NovemberBiggest annual drop since the financial crisisAnalysts: Recession risks have increasedING: German economy still strongMinister: Don’t badmouth Germany 1.13pm GMT JP Morgan has now voiced its alarm over Germany’s economy.J.P.Morgan economist Greg Fuzesi fears that the economy may not have grown in the last quarter, following its small c...
Tags: Europe, Business, Germany, US, Economics, Eu, UK News, European Commission, Jp Morgan, Eurozone, Donald Trump, Morgan, ESI, Greg Fuzesi


Germany recession fears grow after industrial output shrinks - business live

All the day’s economic and financial news, as Germany’s factories suffer a 4.7% annual drop in outputIntroduction: German industrial output slumped in NovemberBiggest annual drop since the financial crisisAnalysts: Recession risks have increasedING: German economy still strongMinister: Don’t badmouth Germany 11.58am GMT Germany’s once fast-pumping economic engine is misfiring, says Mihir Kapadia, CEO and founder of Sun Global Investments.Kapadia blames the ongoing trade war between the US an...
Tags: Europe, Business, UK, China, Germany, US, Economics, UK News, Eurozone, Mihir Kapadia, Sun Global Investments Kapadia, Sam Tombs, Economic Sentiment Indicators


German recession fears grow after industrial output shrinks - business live

All the day’s economic and financial news, as Germany’s factories suffer a 4.7% annual drop in outputIntroduction: German industrial output slumped in NovemberAnalysts: Recession risks have increasedING: German economy still strong 8.10am GMT A simple mapping between industrial production and German GDP growth points to recession (even assuming a December rebound). Not good. Full analysis on terminal here: https://t.co/bKB9rywdFH pic.twitter.com/2z7uP57UsN 8.00am GMT ING economist Carste...
Tags: Europe, Business, Germany, Economics, UK News, Eurozone, Carsten Brzeski, ING, Brzeski


Venice will now start charging tourists an entrance fee

If a romantic gondola ride in Venice is on your bucket list for 2019, it will cost you slightly more for the experience now the Italian city has introduced a new 'tax' on tourists.The new charge - known as contributo di sbarco or disembarkation contribution - was announced in a tweet by the city's mayor Luigi Brugnaro at the end of December with the words: "Now the landing contribution to #Venezia is law!"Venice already charges tourists for staying overnight in its hotels - which brought in $38....
Tags: Travel, Europe, Economics, Spain, Tourism, Italy, Innovation, Urban Planning, Venice, Florence, Balearic Islands, World Economic Forum, Basilica, VENEZIA, Rialto Bridge, Piazza San Marco


"The controversy of the moment involves AOC’s advocacy of a tax rate of 70-80 percent on very high incomes, which is obviously crazy, right?"

"I mean, who thinks that makes sense? Only ignorant people like … um, Peter Diamond, Nobel laureate in economics and arguably the world’s leading expert on public finance. (Although Republicans blocked him from an appointment to the Federal Reserve Board with claims that he was unqualified. Really.) And it’s a policy nobody has ever implemented, aside from … the United States, for 35 years after World War II — including the most successful period of economic growth in our history.... [Despite] t...
Tags: Taxes, Law, Economics, United States, Paul Krugman, Aoc, Krugman, Federal Reserve Board, Ann Althouse, Alexandria Ocasio Cortez, Ocasio-Cortez, Peter Diamond Nobel


US and China resume trade talks with both eager for compromise

Asian shares rise as fresh round of negotiations begins amid concerns about a slowdown in the Chinese economyUS and Chinese officials held their first face-to-face negotiations since a 90-day truce was declared in a trade war between Washington and Beijing, in the hope of ending a bruising confrontation between the world’s two largest economies.Hopes that the sixth round of negotiations between the two sides could yield a breakthrough helped Asian shares rise on Monday, combined with optimism ab...
Tags: Business, Washington, China, US, International Trade, Economics, World news, US news, Beijing, Asia Pacific, Xi Jinping, US politics, Global Economy, US economy, Donald Trump, Chinese Economy


Against the government’s licensing of doctors – Milton Friedman

Adam Smith wrote against the monopolistic tendencies of doctors but Friedman’s doctoral research took him much further into this area. He then wrote a book: Incomes from Independent Professional Practice [The book is available here for download]. VIDEOS This one. and this: and this: And chapter 9 of his book, Capitalism and Freedom. Medical Licensure The […]
Tags: Travel, Economics, Adam Smith, Friedman, Milton Friedman, Public Policy