Category: Economics
🔖 davidgchristian tweet: We humans have reduced the biomass of life on earth by 50%
We humans have reduced the biomass of life on earth by 50% #bighistory pic.twitter.com/dlDypTlU1l
— David Christian (@davidgchristian) October 21, 2018
👓 Thread by @louishyman: “In my history of consumption class, I teach about , but what most people don’t know is just how radical the catalogue was in the era o […]” #Sears #Jim #twitterstorians #thread
In my history of consumption class, I teach about #Sears, but what most people don't know is just how radical the catalogue was in the era of #Jim Crow. #twitterstoriansEvery time a black southerner went to the local store they were confronted with forced deference to white customers who would be served first.The stores were not self-service, so the black customers would have to wait. And then would have to ask the proprietor to give them goods (often on credit because...sharecropping). The landlord often owned the store. In every way shopping reinforced hierarchy. Until #SearsThe catalog undid the power of the storekeeper, and by extension the landlord. Black families could buy without asking permission. Without waiting. Without being watched. With national (cheap) prices!Southern storekeepers fought back. They organized catalogue bonfires in the street.These general stores often doubled as post offices. The owners would refuse to sell stamps to black people, or money orders, to use the catalogue services.In an attempt to undermine #Sears, rumors spread that Sears was black (to get white customers to stop buying from him). Sold by mail “these fellows could not afford to show their faces as retailers” Sears, in turn, published photos to “prove” he was white.These rumors didn’t affect sales but show how race and commerce connected in the countryside. And how dangerous it was to the local order, to white supremacy, to have national markets.So as we think about #Sears today, let's think about how retail is not just about buying things, but part of a larger system of power. Every act of power contains the opportunity, and the means, for resistance.Wow. So much response! If you would like to know more about the larger history of Sears and resisting white supremacy, check out this video from our series on the history of capitalism. #thread. Also #JohnHenry and #webDubois.You *may* have noticed that race and capitalism were not just problems in the 19th century. As I write about, African-Americans have always had a less equal access to the market, whether as consumers or as workers. For more: amazon.com/Temp-American-…
🎧 ‘The Daily’: How the Opioid Crisis Started | New York Times
As prosecutors go after doctors, drug dealers and users, those who made billions of dollars from sales of a painkiller at the center of the epidemic have gone largely unpunished.
🎧 ‘The Daily’: How Trump Really Got Rich | New York Times
We don’t have President Trump’s tax returns. But we have his father’s.
🎧 ‘The Daily’: The Rampant Problem of Pregnancy Discrimination | New York Times
A New York Times investigation finds that many pregnant women are systematically sidelined at work, passed over for promotions and fired when they complain.
🎧 ‘The Daily’: 10 Years After the Financial Crisis | New York Times
A look at how the economic collapse exposed profound problems underlying the American dream.
I Wish Opinions Were as Useful; window display at small art gallery in Brooklyn. #graygram
🎧 Strong Verbs, Short Sentences, Season 3 Episode 9 | Revisionist History
"She was Joan of Arc, Madame Curie, and Florence Nightingale--all wrapped up in one."
One long, hot afternoon on Capitol Hill, in the summer of 1991, the most powerful man in Congress took on the most powerful person in American science. Science won. What does it take to end a reign of terror? The science fraud panic of the 1990s, part two of two.
🔖 Pulling the Goalie: Hockey and Investment Implications by Clifford S. Asness, Aaron Brown | SSRN
We build a simple, but powerful and intuitive, model for when a hockey coach should pull the goalie when trailing. When the model reports that the coaches aren’t doing it nearly early enough, we then ask why, and take away some key lessons for portfolio and risk management, and business in general.
🔖 A Brief Introduction to the Basics of Game Theory by Matthew O. Jackson | SSRN
I provide a (very) brief introduction to game theory. I have developed these notes to provide quick access to some of the basics of game theory; mainly as an aid for students in courses in which I assumed familiarity with game theory but did not require it as a prerequisite.
🎧 “Malcolm Gladwell’s 12 Rules for Life” Season 3 Episode 7 | Revisionist History
"Crucial life lessons from the end of hockey games, Idris Elba, and some Wall Street guys with a lot of time on their hands."
Revisionist History wades into the crowded self-help marketplace, with some help with from a band of math whizzes and Hollywood screenwriters. It's late in a hockey game, and you're losing. When should you pull your goalie? And what if you used that same logic when a bad guy breaks into your house and holds your entire family hostage? We think the unthinkable, so you don’t have to.
Pulling the Goalie: Hockey and Investment Implications on SSRN.
🎧 “General Chapman's Last Stand” Season 3 Episode 5 | Revisionist History
"Good fences make good neighbors. Or maybe not."
General Leonard Chapman guided the Marines Corp through some of the most difficult years in its history. He was brilliant, organized, decisive and indefatigable. Then he turned his attention to the America’s immigration crisis. You think you want effective leadership? Be careful what you wish for.
🎧 Should We Break Up Amazon? | Crazy/Genius | The Atlantic
Has the Everything Store become a dangerous monopoly threatening the U.S. economy?
Some time later this year, Amazon could become the first trillion-dollar company in American history. Its valuation has already doubled in the last 14 months to about $800 billion, and Jeff Bezos, its founder and CEO, is officially the richest man on the planet.
There are ways in which Amazon seems to be the greatest company in American history. It’s revolutionized the global shopping experience and expanded into media and hardware, while operating on razor-thin margins that have astonished critics. But some now consider it the modern incarnation of a railroad monopoly, a logistics behemoth using its scale to destroy competition.
So what is Amazon: brilliant, dangerous, or both? That’s the subject of the latest episode of Crazy/Genius, our new podcast on technology and culture.
To build the case for breaking up the Everything Store, I talk to Scott Galloway, a professor of marketing at NYU and an outspoken critic of big tech, and Lina Khan, a researcher at the Open Markets Institute and a leading expert on antitrust policy. Both of them encourage me to see how a company famous for low prices can still behave in an anticompetitive manner. Making the case against heavy regulation for Amazon are Rob Atkinson, the president of the Information Technology and Innovation Foundation, a tech think tank, and Michael Mandel, an economist with the Progressive Policy Institute who researches technology and e-commerce. Both encourage me to focus not only on the hidden costs of Amazon’s largeness, but also on the hidden benefits.
👓 Why Le’Veon Bell Might Make More Money If He Ends His Holdout Now | Five Thirty Eight
Last weekend, Steelers running back Le’Veon Bell sat out the first game of the regular season rather than play under the NFL franchise tag. Slated to earn $14.5 million in guaranteed money in 2018, Bell loses out on $855,529 each week he fails to report. The franchise tag would make Bell the third highest paid running back in the NFL this season — but only if he actually plays. Around the league, there is a wide range of speculation on how long Bell’s holdout will last. ESPN’s Adam Schefter reports that his sources believe Bell could be back by the end of September, while others note his holdout could conceivably last through Week 10.