The Visible Hand - January/February 2013 A new breed of economist, Alvin Roth brings an engineering sensibility to fixing markets. On the first day of classes in September, most of the 18 people gathered for Al Roth's course in market design were doctoral students in economics or business. One was studying computer science. A visiting scholar from Beijing thought the class might help her understand problems in the nascent Chinese market for fine art. Roth, shirtsleeves rolled up and chalk in hand, took them through the algorithm he's deployed to redesign the processes by which medical students get matched with residency programs and children in large cities get assigned to public schools. At its essence, the algorithm systematizes courtship. Nonetheless, it seemed clear that Roth, MS '73, PhD '74, is nobody's caricature of a coldly calculating economist. The idea that markets need designing seems at odds with the widespread belief that markets develop best organically, without central planning. Photo: Linda A. Alex Nabaum
Would Jesus Occupy Wall Street? There’s a fascinating article at Michigan Live about the faith community’s efforts to connect to the burgeoning Occupy Wall Street movement. I must say (and I’m as secular as they come) I did actually describe my three recent visits to Occupy Wall Street to several people as being like “Going to a new church and EVERYONE you meet is friendly and very WELCOMING.” There’s something special going on at Zuccotti Park and if you think otherwise you are… wrong. It makes sense that a state as hard hit economically as Michigan has been would have clergy so supportive of the anti-capitalist protests. It’s because they know what post-capitalism looks like in Michigan! If Jesus were alive today, would he be at Occupy Wall Street movement? As senior pastor of the nondenominational Fountain Street Church, [Rev. —Snip— It’s interesting to read this brain-damaged comments thread at NewsBusters for the opposite side of this issue, including who Jesus would hate, using nukes on OWS, etc, etc.
2 - brizilian "economic miracle" & family wage Careers Guide 2013: The state of pay - 09 January 2013 Read full article Continue reading page |1|2|3 MONEY, money, money. But whether you're well compensated or hard done by, salary is still a thorny issue. In September, New Scientist, in association with recruitment consultants SRG, quizzed you, our readers and users of our jobs website, about your financial lives. Read on and find out where you fit in. What are you worth? Across all UK sectors employing scientists, a full-time professional takes home an average annual salary of £35,900, with those specialising in computer science or engineering earning the most. That doesn't sound too shabby until you realise that, in the UK at least, the cost of living has increased by 12 per cent during this time. Average salaries are higher in the US. Salaries tend to be higher in the US because workers there pay for healthcare out of their salary while in the UK it is paid via taxes. So how does the average wage break down? This disparity is well known. Looking for a job in science or technology?
Wall Street protesters won’t leave financial avenue - BlogPost Posted at 10:22 AM ET, 09/19/2011 Sep 19, 2011 02:22 PM EDT TheWashingtonPost Some 5,000 people descended on Wall Street for a “Day of Rage” Saturday to protest the United States’s “corrupt democratic process” and the use of corporate money in American elections. People voice their frustration with the economy and Wall Street in the financial district on Saturday. (DAVID KARP - AFP/GETTY IMAGES) Only a few hundred people remain on the financial avenue, but they say they aren’t leaving, ABC news reports, and they have blankets, food and heaters to sustain them. Occupy Wall Street, which organized the protests, says it was inspired by the demonstrations around the world this year from “our brothers and sisters in Egypt, Greece, Spain, and Iceland.” Watch the protesters face off with the wealthy of Wall Street in a video below: Follow updates on the protest on Twitter by watching the the hashtag #occupywallstreet. People from all over the country gather near Wall Street in New York.
3 - Two jobs & no overtime How Many Minimum-Wage Hours Does It Take to Afford a Decent Life? - News So much of the talk surrounding the jobs crisis focuses on unemployment, but a huge portion of those who do have jobs are barely clinging to a decent lifestyle. In 2010, one in five American adults worked for poverty-level wages, 4.4 million of whom earned wages at or below the federal minimum. The infographic above, from the National Low Income Housing Coalition, makes painfully clear just how hard it is to make ends meet on these wages. Want a modest two-bedroom apartment in New York state for the standard 30 percent of your income? You're going to have to toil at a minimum-wage job for 136 hours a week. This makes clear why there isn't a mass movement to raise the minimum wage—people are too busy working their asses off. For an idea of what a fair minimum wage would look like, the NLIHC recalculated its two-bedroom, 30 percent of income premise for a normal, 40-hour work week (see full version [PDF]): Images via National Low Income Housing Coalition
Television for the Environment 4 - Marx & The falling rate of profit