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Neoliberalism Is Dying From Within

Neoliberalism Is Dying From Within
What does it look like when an ideology dies? As with most things, fiction can be the best guide. In Red Plenty, his magnificent novel-cum-history of the Soviet Union, Francis Spufford charts how the communist dream of building a better, fairer society fell apart. Even while they censored their citizens’ very thoughts, the communists dreamed big. Spufford’s hero is Leonid Kantorovich, the only Soviet ever to win a Nobel prize for economics. Rattling along on the Moscow metro, he fantasises about what plenty will bring to his impoverished fellow commuters: “The women’s clothes all turning to quilted silk, the military uniforms melting into tailored grey and silver: and faces, faces the length of the car, relaxing, losing the worry lines and the hungry looks and all the assorted toothmarks of necessity.” But reality makes swift work of such sandcastles. You hear it when the Bank of England’s Mark Carney sounds the alarm about “a low-growth, low-inflation, low-interest-rate equilibrium”.

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Need For Trade Choices Beyond Just Nationalism & Globalisation Tuesday, Aug 2, 2016, 3:56 pm BY Leon Fink In an age of transportation and communication revolutions, geography proved less and less a haven for higher-cost home producers against distant competitors. (Zixi Wu/ Flickr) Few issues are receiving a more insipid—and thus more harmful—treatment in our public discourse than world trade. Along with immigration, “free trade” is now the foremost symbol of a supposed either/or choice between globalism and nationalism.

Exposing The Hidden Agenda Of Davos 2016 Submitted by Nick Giambruno via, “It’s a big club and you ain’t in it!” I’m often reminded of these words, spoken by the great comedian George Carlin, when I read about the annual World Economic Forum meeting in Davos, Switzerland. Crowd Funding Taps Into Australian Real Estate Australians have a love affair with property. According to CoreLogic data, Australian house prices have already increased by 6.3 percent this year. On its own, this number is relatively impressive, however it’s the post GFC growth data that tells a rather more sobering or encouraging story – depending on which side of the home ownership fence you sit. Since January 2009 to today, the cumulative change in dwelling values for all major Australian capitals have risen by a combined 56.1 percent.

The End of Loser Liberalism: An Interview with Dean Baker Part II Dean Baker is co-founder of the Center for Economic and Policy Research. He previously was a senior economist at the Economic Policy Institute and an assistant professor of economics at Bucknell University. He has a Ph.D. in economics from the University of Michigan. His latest book, The End of Loser Liberalism, has recently been released to download free of charge on the CEPR website. Interview conducted by Philip Pilkington, a journalist and writer based in Dublin, Ireland. Philip Pilkington: The problems we currently face are without doubt, as you say, purely demand-based.

The End of Power? Mark Zuckerberg’s first selection for his book club, Moises Naím’s The End of Power , was an apt one. The book, as the Facebook CEO put it, “explores how the world is shifting to give individual people more power that was traditionally only held by large governments, militaries and other organizations.” That would also be a pretty good description of Facebook. We’ve seen social media tip the scales in everything from US political campaigns to revolutions that upended powerful dictatorships, like the Arab Spring and Euromaidan.

The Bonds of Catastrophe It is perhaps not widely understood (outside the specialized domains of risk modeling and property insurance) that the last twenty years have seen the relatively rapid growth of a new kind of financial instrument: the catastrophe bond. I aim in what follows to offer the reader a brief introduction to these innovative money-things, which sit at the precarious nexus of mathematical modeling, environmental instability, and vast sums of capital. Techno-legal creations of considerable complexity (and some genuine elegance), “cat bonds“ circulate in the Olympian air of global high finance, where they afford investors an opportunity to place large bets on the occurrence (and non-occurrence) of various mass disasters: earthquakes, hurricanes, plagues, suitcase nukes. Image from risk appendix to the offering prospective for the MultiCat Mexico Ltd. cat bond, series 2012-I.

Why The Game of Business Needs to Change Its Rules Why The Game of Business Needs to Change Its Rules This is one of a series of essays on what I’m calling The Next Economy, an economy in which we use technology not just to replace workers, but instead to augment them so that they can do things that were previously impossible. It’s an economy in which we harness business to make our entire society more prosperous, not just a lucky few. This is also the subject of my Next:Economy Summit, October 10–11 in San Francisco. Join me there for this critical conversation. This is a slightly expanded version of an essay that was previously published on LinkedIn.

Why $100 Bills and €500 Notes May Soon Be Killed Off The $100 bill has always had a complicated relationship with the public. On the one hand, the “It’s All About the Benjamins” attitude has been a strong staple in popular culture. The $100 bill represents wealth and success, as a currency’s largest denomination well should. But the $100 has always also been the black sheep of American currency. It’s the only bill that doesn’t have a D.C. building on it (Independence Hall is in Philadelphia), and one of two that doesn’t feature a president (Hamilton’s $10 is the other). Pivotal Moment As Candidates Retreat From Free Trade Enemies in politics and opposed on nearly all fronts, Donald Trump and Hillary Clinton have found themselves united together against Barack Obama and a tradition that has kept America in charge of the world economy’s rules for more than 70 years. The next president of the United States is rethinking free trade. In Washington, that tradition was taken for granted for so long that it rarely attracted much attention even in the business press, let alone dominated the politics pages of an entire election season. But in 2016, America’s faltering faith in free trade has become the most sensitive controversy in DC – never before have both main presidential candidates broken with the orthodoxy that globalisation is always good for Americans. The proposed Trans Pacific Partnership (TPP), between 12 countries around the Pacific rim, excluding China, suddenlyfaces a wall of political opposition among lawmakers who had, not long ago, nearly set the giant deal in stone.

Decline of the Empire I love this kind of stuff. I've got time on my hands, so I was perusing the latest wealth/income inequality data. There's been a flurry of activity on this front, especially after the publication of Thomas Piketty's Capital In The Twenty-first Century. Long story short, denizens of Flatland, especially economists, love to measure shit. The Gig Economy Helps Make the Case for UBI It has now been nearly 14 years since I joined the “gig economy” – long before the term was invented. Since the summer of 2002, I’ve been linking together a series of work assignments – some very short-term tasks, others very long-term relationships – to produce a stream of revenue instead of a salary. By 2014, the Freelancers Union calculated that about 53 million Americans had become independent workers, as I am, whether voluntarily or not. And the disappointing jobs data released last week, showing that half a million people dropped out of the workforce altogether, disillusioned by their inability to find work, is a reminder that these conventional salaried jobs are probably going to become more difficult to find in the coming years.

Zillow: Here are 2016's hottest housing markets Since we’re only a few weeks into the new year, there’s still plenty of time to identify which housing markets are set to blow up this year. Zillow set out to do just that, using its Home Value Forecast, which forecasts the change in the Zillow Home Value Index over the next 12 months, recent income growth, and current unemployment rate to pinpoint which markets will be the hottest in 2016. While last year’s list was heavy on “trendy tech centers,” Zillow’s hottest housing markets for 2016 is more diverse and spans the country, from coast to coast, although the vast majority of 2016’s hottest markets are west of Texas. Topping Zillow’s list of the hottest housing markets for 2016 is Denver, where home values rose 16% in 2015, and Zillow said that it is forecasting them to rise another 5% in 2016.

Eight Future Digital Health Jobs To Watch With people living increasingly longer lives, medical care from surgeons, physicians, pharmacists and dentists will increase as well. And since the future of healthcare will look very different from what it is today, the medical field may just be the right industry for you, even if being a doctor or a nurse is not your calling. Many new technologies will be incorporated in the healthcare industry and we will see things like robotic surgeries and 3D printed organ implants, to name but a few. This means that we will be seeing a host of new career opportunities, even jobs that don’t even exist yet. In this article we’ll look at some of these future careers.