Publications · Sustainable Development Commission. Our economy is geared, above all, to achieving growth.
In times of recession especially, economic policy is all about returning to growth. But a financial crisis can also be an opportunity for some basic rethinking about what the economy is for, and how through some fundamental restructuring of our financial system we can safeguard our economic stability in the future, as well as achieving wider social and environmental benefits. In recent years, other objectives such as sustainability and wellbeing have moved up the political agenda. Over two years, the SDC's Redefining Prosperity project looked into the connections and conflicts between sustainability, wellbeing and growth.
Following a series of seminars and commissioned thinkpieces, we published the report Prosperity without Growth? Prosperity without Growth? The Surprise Index - What Does It Measure? - Here’s an interesting indicator: it’s called the Surprise Index.
Calculated by the economists at MFC Global Investment Management, it quantifies in one measure the extent to which U.S. economic indicators exceed or fall short of consensus estimates. An economic report with better-than-expected news is assigned a value of 1; a report with worse-than-expected news is assigned a value of -1; a report meeting expectations gets a 0 value. Add up the values of the reports for the week, and you have the Surprise Index’s reading for that week. The indicator is published on the second page of MFC Global’s weekly Market Commentary. Upward momentum in the index (which would arise if economic reports increasingly exceeded on the upside) could, in theory, foreshadow a rebound in the economy; vice versa for downward momentum. An anatomy of Asian economic woes.
Poking Holes In The Long Tail Theory. Just because the Internet makes it possible to offer a near-infinite inventory of goods for sale does not mean that consumers will start wanting more obscure items in any great numbers.
That is the conclusion Harvard Business School associate professor Anita Elberse comes to in a recent article in the Harvard Business Review that takes on some of the sacred cows of the Long Tail theory. The Long Tail is Wired editor Chris Anderson’s theory (based on an article and resulting book of the same name) that as it becomes easier to distribute a wider variety of items, consumers will venture down the long tail of the distribution curve and find the products that exactly match their interests and idiosyncratic needs.
Elberse questions this notion: Is most of the business in the long tail being generated by a bunch of iconoclasts determined to march to different drummers? The answer is a definite no.. . . An explanation on why people hate capitalism. Blog Archive From The Information Age To The Connected Age « [qi:078] Jason Calacanis launched yet another discussion of the future of the web with his official definition of web 3.0, in which web 2.0 cake is spread with a liberal frosting of people, but not just any people — “gifted” people.
Aside from its introduction of magnet-school speak into tech talk, this definition is curious in that it mentions layering. But the web is a network, or as some gifted people already knew, a “graph.” The web is less a cake needing frosting than a stew mixing everything together, allowing for the possibility of any one ingredient touching another. digg Today’s version of the web, whatever you want to call it, is notable because people and hardware and information and software and conversation are all mixed together into a hyperconnected network. Knowledge Worker (Information Age) vs. The Information Age is the age of the knowledge worker. It’s not just individual workers, though, that take a primarily Information Age approach or Connected Age approach.
A Study of Collaboration Stays True to Its Cause. Digg Bookmarklet for Firefox. I have talked in length about how del.icio.us and furl bookmarklets can be improved - now I want to talk about another similar service that don't even provide a bookmarklet. I am talking about Digg. Okay, I know that Digg is not a social bookmarking site - but it is a site to which you can submit URLs with it's title and description. So the same kind of bookmarklets can be used here too. With that in mind, I will try to create the 'perfect' Digg bookmarklet.
Government failure. Government failure (or non-market failure) is the public-sector analogy to market failure and occurs when government intervention causes a more inefficient allocation of goods and resources than would occur without that intervention.
In not comparing realized inadequacies of market outcomes against those of potential interventions, one writer describes the "anatomy" of market failure as providing "only limited help in prescribing therapies for government success. " Overview An early use of "government failure" was by Ronald Coase (1964) in comparing an actual and ideal system of industrial regulation: Thomas Homer-Dixon.
The Coming Collapse in Housing. By: John Mauldin | Fri, Nov 17, 2006 This week I am in New Orleans at the annual New Orleans Investment Conference and quite frankly with so many good friends that I have given myself permission to not write a letter this week.
But you will be getting an even better writer than me for this week's letter. I arranged for good friend Gary Shilling to condense his 40 page letter on the housing market for you. While this letter will print long (for those of you who print the letter out), it is mostly charts, which Gary excels in. The Long Tail: More on the Economics of Abundance. Sun, 08 Nov 2009 00:46:19 “Priced and Unpriced Online Markets" by Harvard Business School professor Benjamin Edelman.
Discusses tradeoffs in market such as email, IP addresses, search and dial-up Internet. "Reminiscent of the old adage about losing money on every unit but making it up in volume, online markets challenge norms about who should pay, when, and why. " I found this typically academic: dated, dry and pretty unilluminating. But it got published in The Journal of Economic Perspectives. Mon, 31 Aug 2009 01:53:50. Punctuated Equilibria. Outline 0.
Foreword. Nordic Culture & Sweden will be the first. What Everyone Should Know About Economics. What Everyone Should Know About Economics and Prosperity by James D.
Gwartney and Richard L. Stroup Adapted for Canadian readers by Michael A. Walker The Fraser Institute, Vancouver, British Columbia, Canada Contents. The Wealth of Networks: How Social Product. The Wealth of Networks: How Social Production Transforms Markets and Freedom by Yochai Benkler, Yale University Press © Copyright 2006, Yochai Benkler.
Contents This online version has been created under a Creative Commons Attribution Noncommercial ShareAlike license - see www.benkler.org - and has been reformatted and designated as recommended reading - with an accompanying Moodle course - for the Education Committee of CONGO - the Conference Of Non-Governmental Organizations in Consultative Relationship with the United Nations - in conjunction with the Committee's commitment to the United Nations Decade of Education for Sustainable Development, the International Decade for a Culture of Peace and Non-violence for the Children of the World and related international Decades, agreements, conventions and treaties.
Epigraph John Stuart Mill, On Liberty (1859) Polyconomics Economic Forecasting Financia. Parable of the broken window - Wikipedia, Of the worlds 100 largest economic entitie. Objective Economics - Economics differs fr. Introduction to Economic Analysi. EconSources! Big questions and big nu. Economics in Six Minute. Fred Foldvary’s Editorial Economics in Six Minutes by Fred E. Foldvary, Senior Editor Economics is the science of utility, which includes people’s preferences and the satisfaction and importance they subjectively derive from goods.
Desires are unlimited, but people get less extra value from more and more units of the same good. Demand is a list of prices and the quantities bought at those prices. Where supply intersects demand is where market prices and quantities are determined. Firms maximize profits at the quantity where the marginal (extra) revenue equals the marginal cost. The factors, categories of inputs and resources, are land, labor, and capital goods, yielding land rent, wages, and capital-goods rentals. Land varies in quality, and the production in the better land relative to that of the least productive marginal land yields a rent to the more productive land.
Civic services such as parks, streets, and security increase the demand for land, raising the rent. Economagic: Economic Time Series Page. Death and Taxes 2007 Edition: Available No. David Levines Economic and Game Theory Pag. Commanding Heights : Jeffrey Sachs. The Rich Nation/Poor Nation Gap INTERVIEWER: The demonstrators at Seattle in Washington seem to see the world as a frightening place.
Adam Smith, Wealth of Nations, Content. Introduction Chapter 1. Of the Division of Stock. The Capitalism Site : Laissez-faire Capita. Finance for Physicists. Finance for Physicists This page arose because I am often asked for advice and suggestions about how to prepare for, and get a job on Wall Street as a quantitative analyst. Paying the top DIGG/REDDIT/Flickr/Newsvine users (or "$1,00. What Happens When the Economics of Scarcity Meets the Economics. The Center for the Advancement. Big Government Solutions Don't Work/ The Law of Opposites b. The Elaboration Likelihood Model: Why People Won't Switch -
A common heard question in the operating systems world is, 'if the alternatives to Windows are so much better, why aren't people en masse switching to them? ' People come up with all sorts of answers to this question, but in fact, the social psychology world already has a fairly simple answer to this question. This answer also happens to actually explain why Zeta sold so well through the usually superficial television retail channel.
This answer is what is known as the Elaboration Likelihood Model, or ELM (Petty, Cacioppo, 1986). This model is based on the presumption that in order for someone's attitude towards a certain idea, concept, or object to change, there are two routes: the central route, and the peripheral route. Let me first explain these two routes; they are fairly straightforward. Portals: Success, greed in the new economy of web point payouts. Information Markets » About CrowdIQ. Digg: A Lesson in Freakonomics : Business, Technology, and Stuff. PART I:Ten Key Elements of Economics. PART I:Ten Key Elements of Economics 1. Incentives Matter ALL ECONOMIC THEORY IS BASED on the postulate that changes in incentives influence human behaviour in a predictable manner.
Personal benefits and costs influence our choices. If the benefits derived from an option increase, people will be more likely to choose it. Conversely, if the personal costs of an option increase, people will be less likely to choose it. This basic postulate of economics is a powerful tool because its application is so widespread. In the marketplace, this basic postulate indicates that, if the price of a good increases, consumers will buy less of it; producers, on the other hand, will supply more of it since the price increase makes it more profitable to produce the good.