background preloader

More & more Economic Theory & Bits...

Facebook Twitter

Did COVID-19 Shutdowns Destroy Economies and Save Lives? Data Shows… A man wearing PPE makes a delivery to the Royal London Hospital during England’s third national lockdown to curb the spread of coronavirus.

Did COVID-19 Shutdowns Destroy Economies and Save Lives? Data Shows…

Picture date: Tuesday January 19, 2021. Yui Mok/PA Images via Getty Images. Super rich party it up during COVID-19, the 'poor person’s virus' While the rest of us hunker down, forgo our vacations and family reunions, and suffer from maskne (the acne that comes with wearing a mask) — in the world of the uber-rich, it’s very, very different.

Super rich party it up during COVID-19, the 'poor person’s virus'

Despite the coronavirus still killing 1,000 people a day in America and unemployment is at an all-time high, billionaires are throwing parties, traveling on private jets, luxuriating on yachts around the world, buying citizenship in “safe” countries and having fun on $12,000 motorized surfboards. “Coronavirus is a poor person’s virus,” one wealthy Silicon Valley denizen told Vanity Fair. The pandemic windfall. Large companies and the very rich made a killing last year, while the U.S. wealth gap became wider than ever.

The pandemic windfall

Here's everything you need to know: Who has benefited? Tech giants, many major corporations, and Wall Street investors have had eye-popping gains during the pandemic, even as the COVID-19 recession has devastated major sectors of the economy. Apple's total stock value climbed to $2.29 trillion, up 133 percent since March. Amazon's share price increased by 70 percent. Freedom Agenda 21 – Agorism in the New Year. Mike Swatek “Resolve to serve no more and you are at once free.”Etienne de la Boetie, On Voluntary Servitude Each of us can easily expand our fight for individual freedom in the new year.

Freedom Agenda 21 – Agorism in the New Year

'We have no market, but lots of lobsters': a Maine lobsterwoman fights for her livelihood. “If I’m not fishing, I’m working on gear or my boat.

'We have no market, but lots of lobsters': a Maine lobsterwoman fights for her livelihood

Or meetings involving fishing. It’s what I eat, sleep and breathe,” lobsterwoman Julie Eaton tells me. Eaton lives on Deer Isle, and fishes Penobscot Bay – a deep blue inlet of the Gulf of Maine, dotted by working waterfronts, rocky islands, wooden schooners and lobster buoys. I ask her what it’s like to start lobster season. Can a Worker-Owned App Pull Drivers From Uber and Lyft? Photo: Frederic J.

Can a Worker-Owned App Pull Drivers From Uber and Lyft?

Brown/AFP via Getty Images. The economics of the human hair trade. Human hair is one of the most versatile resources in the world.

The economics of the human hair trade

It’s used to make calligraphy brushes, suit linings, and furniture. It’s enlisted to clean up oil spills. It’s even a part of the bagel-making process at Dunkin’ Donuts. Most severed locks, though, end up on other people’s heads. Desperate AMC Touts Theaters As Nice Dark Places For Teens To Rub Each Other’s Genitals. Study of 50 years of tax cuts for rich confirms ‘trickle down’ theory is an absolute sham. Neoliberal gospel says that cutting taxes on the wealthy will eventually benefit everyone by boosting economic growth and reducing unemployment, but a new analysis of fiscal policies in 18 countries over the last 50 years reveals that progressive critics of “trickle down” theory have been right all along: supply-side economics fuels inequality, and the real beneficiaries of the right-wing approach to taxation are the super-rich.

Study of 50 years of tax cuts for rich confirms ‘trickle down’ theory is an absolute sham

“Cutting taxes on the rich increases top income shares, but has little effect on economic performance.” But, according to Hope and Limberg, the vast majority of the populations in those countries have little to show for it, as the benefits of slashing taxes on the wealthy are concentrated among a handful of super-rich individuals—not widely shared across society in the form of improved job creation or prosperity, as “trickle down” theorists alleged would happen.

The researchers continue: Tom Colicchio On The Future Of The Restaurant Industry: 'We’re Looking At An Extinction Event' Rising Coronavirus Cases Force Chicago To Set Up Temporary Bars In Hospitals. CHICAGO—As the city grappled with measures that would adequately address the infectious disease’s unchecked spread, rising coronavirus cases forced Chicago this week to set up temporary bars in hospitals.

Rising Coronavirus Cases Force Chicago To Set Up Temporary Bars In Hospitals

“With more Chicagoans testing positive and requiring medical care, we have no choice but to fight this thing by adding more bars and restaurants to the city’s medical facilities, including emergency tents for crowded eateries and transforming wards normally used for surgery patients into makeshift taverns,” said Chicago mayor Lori Lightfoot, adding that if the number of hospital admissions continued to rise, the city would be forced to put nurses who had tested positive for coronavirus but were asymptomatic back to work taking drink orders. Canada Dry Settles Yet Another 'Not Enough Ginger in Ginger Ale' Lawsuit. Is America's Most Famous Bookshop on the Verge of a Mutiny? Despite its status as one of the most famous independent bookstores in the world, even the Strand in New York City is barely making it through the COVID-19 pandemic.

Is America's Most Famous Bookshop on the Verge of a Mutiny?

After a temporary shutdown, mass layoffs and a limited-capacity reopening, sales at the 93-year-old New York City fixture were down 70 percent, leading third-generation owner Nancy Bass Wyden to issue a public plea for help from customers. Strand supporters turned out in droves, driving record sales in the ensuing days, but still questions about the store’s future remain, as do tensions between Bass Wyden and her unionized employees.

The rescue of a beloved independent business should be one of the few heartwarming stories of 2020’s incessant ravages. But the Strand is a singular entity in this retail niche for reasons that go beyond its fame and fortune. Going into 2020, independent bookstores seemed to have a steady foothold in their small-yet-beloved niche of the retail industry. The hidden economy of schoolyard trades. In ‘90s-era schoolyards, there was a hidden economy at play. Before we had the hard cash to buy our own stuff, most of us acquired our wants and needs through bartering. What Joe's Stone Crab can teach CEOs about the quest for profit. The economics of vending machines.

Three months ago, Jalea Pippens — a phlebotomist at St. John Hospital in Detroit — had her hours cut. $20 Billion Melbourne Property 'Black Hole' Has Economists Clutching Their Calculators. Melbourne’s been dealt a rough hand this year. Not only has the city endured ‘the worst air quality in the world‘ during the 2019-2020 bushfire season, two devastating lockdowns and thousands of cases of COVID-19 this year, but the Victorian economy has also been ravaged to an extent not seen since the Great Depression. It looks like The Bat Kiss will deal another hammer blow, with billions wiped from the Victorian economy as real estate market restrictions continue on, reports.

They share analysis from property research firm CoreLogic which shows how on average, almost $20 billion in property sales was made during each spring selling season over the past five years. An Unprecedented 1,640 CEOs Departed in 2019; Now Execs Are Dumping Stock at Highest Pace Since 2006. By Pam Martens and Russ Martens Source: Wall Street on Parade A rather fascinating picture is emerging that suggests that things were not as rosy in the U.S. economic landscape prior to the pandemic as President Donald Trump and his Director of the National Economic Council, Larry Kudlow, would have the public believe.

Challenger, Gray & Christmas, Inc. has been tracking CEO departures for the past 12 years. Its Vice President, Andrew Challenger, called the numbers for 2019 “staggering.” It was the highest number since their surveys began in 2002. Why the No-Tipping Restaurant Model Failed. The Most Overpaid And Underpaid Movie Stars, Visualized. It was once a sure bet that if film studios attached a big name to their movie they would rake in the big bucks, which is why they paid — and still do in many cases — some stars handsomely. However, some movie companies are getting an exceptionally bad return on their investment with several of their so-called stars. Trader Joe's Knows That Petitions Aren't Commandments. CEO Who Took $1M Paycut To Give All Employees $70K Minimum Salary In 2015 Explains How It Affected The Company.

The Major U.S. Airlines Have All Eliminated Change Fees for Good. United, Delta, American, and Alaska have all eliminated their flight change fees in one of the more significant changes to the way airlines do business in recent history. share this article. Oil companies wonder if it makes economic sense to continue oil exploration - Attention to the Unseen.

Bloomberg reports: Which Are the 20 Most and Least Profitable Companies Per Employee? Like spectacular market peaks, market crashes have been a persistent feature of the S&P 500 throughout time. COVID-19 Will Kill Lots of Shopping Malls. Photo: Scott Olson/Getty Images It would be sort of fitting: Department stores, on a long decline because of the shift toward online retail, could be replaced by Amazon fulfillment centers, delivering products to customers who don’t go to the mall much anymore. That’s what The Wall Street Journal reports: Amazon is having talks with the largest mall operator in the U.S., Simon Property Group, about taking over vacant or soon-to-be-vacant J.C. The sad end of Brooks Brothers. The secret economics of a VIP party. Why a small town in Washington is printing its own currency during the pandemic.

The Great Tulsa Remote Worker Experiment. Sweden’s Restaurants Stayed Open in the Pandemic. This Is What Their Chefs Learned. It Took a Pandemic, but 7-Eleven in Japan Is Letting Stores Take a Break. There Is a Way to Bring Back Most Restaurants. Brooks Brothers leaving Garland. The Anatomy of the $2 Trillion COVID-19 Stimulus Bill. As Oil Price Plummets, Call to Nationalize Industry Rises. This Is the Only Way to Save the Restaurants You Love.

Theoretical Commodities Trader Explodes Into Flash Of Pure Energy While Attempting To Buy Negative-Priced Oil. This Is What Happens When Bitcoin Miners Take Over Your Town. Can cash carry the coronavirus? Russia thinks so. My Rich Clients Keep Trying to Book Me for Pandemic Sex. Strip Club Pivots to Topless Food Delivery During COVID-19. Saudi Arabia just won control of the oil market (opinion) Denmark’s Idea Could Help Avoid a Great Depression. Amid a pandemic, rideshare drivers choose between health and livlihood. ‘A terrible day’ for NM’s restaurants, bars. Restaurants Become Corner Stores to Stay in Business Throughout the Coronavirus Pandemic. Fine Dining Restaurant Canlis Switched to Take Out Food Service After Coronavirus. Who Will Save Swiss Made? The global economic threat of the coronavirus. Coronavirus doesn't tell the full story behind Dow's plunge.

Blue Apron Was a Really Bad $2 Billion Idea for Silicon Valley. Snakes In Suits: Are Psychopaths Running The World? Economist Robert Reich explains why millennials don’t have any money. Uber made it cheaper to take a helicopter than a car to the airport. Bike share: The decade’s biggest transportation success story. Why some of America’s top CEOs take a $1 salary. YouTuber Uncovers Disturbing Truth About the Jalapeños on Subway Sandwiches. Judge Dismisses $210 Million Lawsuit Against CBC Report That Said Subway Chicken Is Fake. WeWork Should Learn Something from Marriott and Hilton. Do You Tip Your Uber Driver? Five facts about student loans. 20 Years of Ace, The Hotel That Changed Everything. Trump’s Trillion-Dollar Hit to Homeowners. Hospitals are getting into the housing business - Axios.

Glade Introduces New Vanilla Passion Fruit Unmanned Aerial Application Vehicle. American companies have a hiring problem. 18 Kirkland Products You Should Buy at Costco. Panera losing nearly all workers in fast-food turnover crisis. Top CEOs agree that tackling social issues matters as much as wealth creation - Axios. What Are Payroll Taxes and Who Pays Them? Warren Buffett Tells Colleagues About Exciting Investment Opportunity He Recently Discovered Selling Mary Kay Beauty Products. Facebook plans its own currency for 2 billion-plus users. Travel - The unique culture of Japanese convenience stores. The South's Economy Is Falling Behind: 'All of a Sudden the Money Stops Flowing' Your Grocery Store and Office May Soon Come to You. Boycotts Google, Facebook, Patreon.

What Xi Jinping Wants - The Atlantic. Hard times for Whole Foods: 'People say it's for pretentious people. I can see why' Cookies are Not Accepted - New York Times. Ann Taylor Loft to close Uptown store. How the Government Uses Taxes. The retail apocalypse is creating a 'rolling crisis' that is rippling through the US economy. Paid Labor Is the Moral, Competitive Thing to Do. How Alaska fixed Obamacare. The World’s 50 Best Restaurants Get by With a Lot of Unpaid Labor. Stunning drops in solar and wind costs turn global power market upside down.

Why Locol’s $1 Coffee Brand Matters. California sun produces so much power that electricity prices turn negative. If California Adopts Universal Health Care, It Will Be a Model for the Whole Country. The Great Retail Apocalypse of 2017 - The Atlantic. Video Of Overbooked Passenger Dragged Off Flight Goes Viral. This One-Year Alternative to College Promises to Land Students a Well-Paying Job, Debt-Free.

Theconversation. Sweating, Shaking Pharmaceutical CEO Says He Can Stop Profiting Off Opioid Epidemic Anytime He Wants. Can Revelator Coffee Be the Next Blue Bottle? Restaurants Cook Up A New Way To Pay Kitchen Staff More: A Cut Of Sales. Dallas' Poverty Problem Explained in a Single Map - D Magazine. Big-pharma-company-lobbies-against-legal-weed-market-own-synthetic-version?akid=15363.2617. Streaming Music Services, From Most Screwed to Least Screwed.