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? The transition to a low carbon economy, written by Professor Tim Jackson, the SDC's Economics Commissioner.
Prosperity without Growth? Since the release of 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. Want more from this author? Follow and be the first to know when they publish. Follow Larry MacDonald (658 followers) Long/short equity, dividend investing, ETF investing New! An anatomy of Asian economic woes | Troubled tigers | The Econom.
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.. . . So does this disprove the Long Tail theory? Not exactly. 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. Web Worker (Connected Age) The Information Age is the age of the knowledge worker. Microsoft (Information Age) vs. Microsoft (MSFT) exemplifies the Information Age. Seeing Shifts. Wikinomics -- 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. The Digger Bookmarklet - for the impatient. To install the bookmarklet, just 'dragg' the link to your bookmarks toolbar.
Requirements The Digg bookmarklet should have the following features... URL must be fetchedTitle must be fetchedThe description to be used must be selectable by the user.If the user did not select a description, it must be auto generated.All the inputed values must be editable by the user. The perfect bookmarklet should work in IE as well as the other browsers. Fetching Data Title Description title The title of the page.
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[1] as providing "only limited help in prescribing therapies for government success. "[2] Overview[edit] An early use of "government failure" was by Ronald Coase (1964) in comparing an actual and ideal system of industrial regulation:[4] Contemplation of an optimal system may provide techniques of analysis that would otherwise have been missed and, in certain special cases, it may go far to providing a solution.
But in general its influence has been pernicious. Government failure can be on both the demand side and the supply side. Examples[edit] Economic crowding out[edit] Regulatory[edit] See also[edit] Thomas Homer-Dixon. Safe Haven | 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. Gary argues that housing prices are not in for just a small decline but a material drop.
I have argued that it is housing that will be one of the main causes of the next recession sometime next year. By Gary Shilling I am convinced that the housing bubble is gigantic and will burst before long with massive implications here and abroad. Setting the Scene House prices in recent years have leaped well beyond their normal relationships to the CPI. The Grand Disconnect.
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 From Mashable: “Freezly is a lot like Tweetmeme in that it finds link and tweets and shows you their popularity based on retweets. Fri, 28 Aug 2009 02:08:25 From Cellular News. Mon, 10 Aug 2009 20:54:23 From the LA Times: “Industry insiders estimate that since 2007, revenue for most adult production and distribution companies has declined 30% to 50% and the number of new films made has fallen sharply.
Fri, 07 Aug 2009 11:07:00 Sat, 01 Aug 2009 01:09:38 Mon, 27 Jul 2009 20:37:31. Punctuated Equilibria. Outline 0. Foreword here are few components of modern evolutionary theory which seem so prone to misinterpretation as Niles Eldredge and Stephen Jay Gould's theory of punctuated equilibria (PE for short). In this matter, the person attempting to come to a better understanding of punctuated equilibria will find that he or she may be hampered by the popular writings of those same authors rather than helped. 1.
The essential features that make up Punctuated Equilibria are as follows: The theory of Punctuated Equilibria provides paleontologists with an explanation for the patterns which they find in the fossil record. PE relies upon the insights of study of modern species for its principles. 2. Paleontologists have to recognize species from their fossil remains. Mayr's Biological Species Concept uses the criterion of reproductive isolation to distinguish species in modern populations. The fossil record is incomplete. 3. 4. Some of the predictions of Punctuated Equilibria are as follows: 5. 6. 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 Acknowledgements Additional books by Gwartney and Stroup About the authors Introduction Part I: Ten Key Elements of Economics Part II: Seven Major Sources of Economic Progress Part III: Economic Progress and the Role of Government Concluding Thoughts Copyright (c) 1995 by The Fraser Institute.
(c) 1993 James D. The authors of this book have worked independently and opinions expresed by them, therefore, are their own, and do not necessarily reflect the opinions of the members or the trustees of The Fraser Institute. 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) Acknowledgments Introduction: A Moment of Opportunity and Challenge Part I: The Networked Information Economy. Polyconomics Economic Forecasting Financia. Parable of the broken window - Wikipedia, The parable of the broken window was introduced by Frédéric Bastiat in his 1850 essay Ce qu'on voit et ce qu'on ne voit pas (That Which Is Seen and That Which Is Unseen) to illustrate why destruction, and the money spent to recover from destruction, is not actually a net benefit to society. The parable, also known as the broken window fallacy or glazier's fallacy, seeks to show how opportunity costs, as well as the law of unintended consequences, affect economic activity in ways that are "unseen" or ignored. The parable[edit] Bastiat's original parable of the broken window from Ce qu'on voit et ce qu'on ne voit pas (1850): Have you ever witnessed the anger of the good shopkeeper, James Goodfellow, when his careless son has happened to break a pane of glass?
Differing interpretations[edit] Bastiat's argument[edit] Austrian School theorists, and Bastiat himself, apply the parable of the broken window in a different way. The opportunity cost of war[edit] According to Hazlitt: Criticisms[edit] Of the worlds 100 largest economic entitie. Objective Economics - Economics differs fr. Introduction to Economic Analysi. EconSources! Economic models | 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.
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. Folks tend to prefer goods today rather than in the uncertain future. Trade is mutually beneficial. . – Fred Foldvary. Economagic: Economic Time Series Page. Death and Taxes 2007 Edition: Available No. David Levines Economic and Game Theory Pag. Commanding Heights : Jeffrey Sachs | on PB. The Rich Nation/Poor Nation Gap INTERVIEWER: The demonstrators at Seattle in Washington seem to see the world as a frightening place. What are they afraid of? JEFFREY SACHS: Globalization has clearly raised lots of different kinds of concerns that the world is not a very fair place right now. There are incredible inequalities of rich and poor, and that's what brought some people out on the streets. Others are more narrowly focused on their own jobs -- are they going to lose them in a world of free trade?
Still others worry about the very real considerations of the international environment and how that is interacting with this incredible pace of global change. INTERVIEWER: You were in Seattle yourself. JEFFREY SACHS: I saw the demonstrators ... on the streets. INTERVIEWER: One of the big things that you referred to is the gap between the rich countries and the poor countries. JEFFREY SACHS: The world is more unequal than at any time in world history. Back to top Jeffrey Sachs Meets Goni. Adam Smith, Wealth of Nations, Content. Introduction Chapter 1. Of the Division of Stock Chapter 2. Of Money considered as a particular branch of the general Society, or of the Expense of maintaining the National Capital Chapter 3.
Chapter 4. Chapter 5. Introduction Chapter 1. Chapter 2. Chapter 3. Part 1. PART 2. CHAPTER 4. CHAPTER 5. CHAPTER VI Of Treaties of Commerce CHAPTER VII Of Colonies PART 1 Of the Motives for establishing new Colonies PART 2 Causes of Prosperity of New Colonies PART 3 Of the Advantages which Europe has derived from the Discovery of America, and from that of a Passage to the East Indies by the Cape of Good Hope CHAPTER VIII Conclusion of the Mercantile System CHAPTER IX Of the Agricultural Systems, or of those Systems of Political Economy which represent the Produce of Land as either the sole or the principal Source of the Revenue and Wealth every Country.
The Capitalism Site : Laissez-faire Capita. Finance for Physicists. Paying the top DIGG/REDDIT/Flickr/Newsvine users (or "$1,00. What Happens When the Economics of Scarcity Meets the Economics. The Moral Basis of Capitalism :: 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 - 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. DonationCoder.com.