More on the concept of "guard labor" as an unproductive use of resources in a private property economy with strong inequality of income/wealth. This is from Perelman's blog, Unsettling Economics My article on Guard Labor is in the new issue of Dollars and Sense. It is extracted from my forthcoming book, The Invisible Handcuffs. http://www.dollarsandsense.org/archives/2010/0110toc.html … Continue reading Guard Labor « unsettling economics
Day: February 6, 2010
Are Corporations Persons?
A fellow skeptic looks at the recent Supreme Court decision holding that corporations are entitled to full First Amendment rights to free speech, and notes the paradoxes that arise when a corporation is viewed as a "person". The Hypocrisy of Corporate Personhood « unsettling economics.
Future of Work & Economic Institutions
A short video (~4 min) that's intended for corporate training & management types, but it makes several interesting points about how the Internet is changing how business (read economic production) is organized. This means institutions must adapt and that means changes in our economic systems. Internet Time Alliance —.
Stuff I need to read
Debt is not debt via billy blog » Blog Archive » Debt is not debt.
Stuff I need to read
Questions and answers 1 via billy blog » Blog Archive » Questions and answers 1.
Inequality Matters and Redistribution of Income Helps the Economy
Inequality matters, and contrary to much "conventional wisdom", income redistribution can and does work in man countries. In fact, the evidence is that it results in faster growing and more productive economies. (Hat tip to Mark Thoma for this summary. I strongly urge readers to go to Born Poor?, by: Corey Pein: and read the … Continue reading Inequality Matters and Redistribution of Income Helps the Economy
History: Job Creation by President
The Bush tax cuts didn't really do much to "stimulate" the economy, contrary to the claims of many. In fact, they really didn't do anything other than run up the deficit. From Angry Bear: those who thought Bush did a good job and want to repeat his policies sure have some explaining to do. Even … Continue reading History: Job Creation by President
To Some, It’s a Depression
In terms of GDP and even the headline unemployment rate, the current crisis of the past 2 years is nowhere near being a "depression". The stimulus programs and other monetary support programs have prevented a global banking crisis from becoming a depression, unlike 1930. However, there is one group that is suffering mightily. In this … Continue reading To Some, It’s a Depression
Calculated Risk: Employment Report: 20K Jobs Lost, 9.7% Unemployment Rate
US employment/unemployment stats for January 2009 came in. The headlines: 9.7% unemployment rate (down from 10.0) and 20,000 jobs lost. At first glance this looks strange and counter-intuitive: fewer actual people working, yet a higher unemployment rate. Of course, we've seen this in the past with the change in the rate and the change in … Continue reading Calculated Risk: Employment Report: 20K Jobs Lost, 9.7% Unemployment Rate
Canadian Culture of Banking is Definitely Different
I don't think we'd ever see this happen in the U.S. I know we didn't see this happen in 2005-6 when it should have happened in the US. Sometimes culture (both national culture and corporate culture) does make a big difference. Canada's top bankers are pushing the government to clamp down on the mortgage market … Continue reading Canadian Culture of Banking is Definitely Different