10 Lesser Known Economic Issues Politics While not an economist in the traditional sense, I am very interested in the study of economics. While not everyone shares this level of interest, I believe people should have an understanding of economics as the field is so important to understanding the world that we live in. Also known as the Diamond-Water Paradox, the paradox of value is the contradiction that while water is more useful, in terms of survival, than diamonds, diamonds get a higher market price. This paradox can possibly be explained by the Subjective Theory of Value, which says that worth is based on the wants and needs of a society, as opposed to value being inherent to an object. Khazzoom–Brookes Postulate This proposal was named after economists Daniel Khazzoom and Leonard Brookes, who argued that increased energy efficiency, paradoxically, tends to lead to increased energy consumption. “Increased energy efficiency can increase energy consumption by three means. Economics has many categories for “goods”.
Blue Sky Below Us Blue BathSTS-116 Mission Specialists Robert L. Curbeam, Jr. (left) and Christer Fuglesang participate in the first of the mission’s three planned sessions of extravehicular activity as construction resumes on the International Space Station. Breathtaking views of Spacewalks with our blue planet below. Facts: Extra-vehicular activity (EVA) is work done by an astronaut away from the Earth, and outside of a spacecraft. Hint: Use “J” and “K” keys to navigate from picture to picture. Hello! Space, Horizon, Endeavour Backdropped by the blackness of space and Earth’s horizon, Space Shuttle Endeavour, docked to the Pressurized Mating Adapter on the International Space Station, is featured in this photograph taken during the mission’s first planned spacewalk. Blue Aurora Borealis Spacewalks – Blue Sky: credit: Unkown Our Blue PlanetSpacewalks – Blue Sky: credit: NASA Astronauts Steve Bowen and Al Drew working outside the ISSIt’s a hard job, but somebody has to do it! Astronaut Robert L.
Bitcoin implodes, falls more than 90 percent from June peak Bitcoin, the world's first peer-to-peer digital currency, fell below $3 on Monday. That represents a 90 percent fall since the currency hit its peak in early June. Supporters argue that Bitcoin has fundamental advantages over conventional currencies. The system is designed to transfer funds without a central authority, freeing Bitcoin users from bank fees and government regulations. Unfortunately, the currency's value hasn't proven stable in practice. Trading resumed in late June at around $17, and the currency's value has been steadily declining ever since. So is Bitcoin doomed? And that's Bitcoin's fundamental challenge: as far as we can tell, the volume of Bitcoin-denominated transactions is tiny. And that's not surprising. There are also risks due to volatility. The current value of Bitcoin—just under $3—is still significantly above the April price of around $1.
Occupy Design: Visual Tools for the 99 Percent - Design Launch Slideshow Last weekend, San Francisco, New York, and Washington, D.C. hosted spontaneous "Hackathons" to brainstorm how to use various platforms to help Occupy Wall Street. One of the ideas hatched was Occupy Design, a new website that gives a "visual language" to protesters across the country. "These are people who have valid concerns grounded in reality and grounded in data that can be communicated visually," Levitas says. The site provides big-think infographics that illustrate data on the wealth gap, symbols for overarching concepts like "justice" and "community," and practical signs to use on the ground like "toilet" and "landfill." "There’s all this untapped potential for people who are extremely talented," he says. Want to get involved? Images courtesy of Occupy Design
Brazil set to oust Britain from Top 10 economies | Business | The First Post Since 2005 Britain has dropped from fourth to seventh in the ranking of national economies. According to the Centre for Economics and Business Research, the country is set to drop out of the top ten by 2015 as Canada, India, Russia and China overtake. Much mournful commentary about the state of Britain, loss of prestige and influence is certain to follow. But the economic impact may be less significant than the psychological and diplomatic impact, warned Douglas McWilliams, Chief Executive of the CEBR. "Even after the end of Empire, the world's political agenda continued to be set by people with broadly the same cultural framework as the British. But some of those who are increasingly setting the world agenda have a degree of post colonial resentment against the British." McWilliams goes on to predict the British could find adapting to a world where economic, political and social decisions are made beyond the influence of British experience "traumatic".
Omnipotent Government: The Rise of the Total State and Total War VI: The Peculiar Characteristics of German Nationalism↩ 1.: The Awakening↩ German nationalism did not differ from other peoples’ nationalism until—in the late 1870’s and early ’80’s—the German nationalists made what they believed to be a great discovery. They discovered that their nation was the strongest in Europe. They concluded that Germany was therefore powerful enough to subdue Europe or even the whole world. The Germans are the most numerous people in Europe, Russia excepted. The German nation enjoys the enormous advantage of occupying the central part of Europe. The German people are young and vigorous, while the Western nations are old and degenerate. The Germans are the best warriors. It is therefore obvious that the German nation is predestined for hegemony. The first step of the new policy must consist in the reincorporation of all Germans now outside. This program assigned a special task to the German emigrants living in different foreign countries.
Europe's economies: Strong core, pain on the periphery Our interactive overview of European GDP, debt and jobs CurrencyEconomyGDP per personUnemploymentYouth unemploymentDebtPublic debtBudget balancePrimary balanceGrowthLatest GDP change2014 GDP forecast2015 GDP forecast *15- to 24-year-olds Source: Eurostat Source: European Commission Source: European Commission Source: European Commission *Q4 2013 or latest Source: Eurostat Source: European Commission Source: European Commission DESPITE setbacks to emerging markets in early 2014 and the crisis in Ukraine, the European recovery still looks intact. Across the 28-strong European Union, GDP will expand by 1.5% this year and by 2.0% in 2015, according to new forecasts from the European Commission on February 25th. Easily the worst performer this year will be Cyprus, whose output will continue to tumble, with GDP falling by 4.8%. In contrast with these southern sluggards, two Baltic states continue to race ahead.
untitled U.S. crackdown doesn't distinguish between Caribbean tax havens and Canada rluciw@globeandmail.com A tax crackdown by the United States has sent more than one million Americans and green-card holders living in Canada scrambling to figure out how to comply. The move is part of a push by the U.S. Internal Revenue Service (IRS) to make sure U.S. taxpayers are paying what they owe on foreign accounts. Unlike most countries, the U.S. requires its citizens to file annual tax returns based on their worldwide income, regardless of where they live. That means that people like Kerry Knoll's two teenage daughters, who have never had a U.S. address or earned a penny there but have dual Canadian and American citizenship, will have to file U.S. tax returns on accounts they hold in Canada and may face penalties. "Suddenly we are being told that my daughter's savings account from her summer job is considered an illegal offshore account by the Americans, something that I find preposterous," Mr. Mr.