Finland's basic income experiment is already making people feel better after just 4 months Unsplash / Haley Phelps Four months after Finland's social-security institution Kela launched a two-year experiment in basic income, a system of wealth distribution in which people receive a salary just for being alive, some of the 2,000 recipients are already reporting lower levels of stress. The $600 they receive each month might not be much, but it's enough to put some people's anxiety at ease, Marjukka Turunen, head of Kela's legal benefits unit, told Kera News. "There was this one woman who said: 'I was afraid every time the phone would ring, that unemployment services are calling to offer me a job,'" Turunen recalled of a woman who needed to care for her parents, and so couldn't work. Basic income is foremost a solution to poverty. With that financial security comes additional benefits, says Scott Santens, a basic income advocate and writer. Finland's program is a modified version of basic income, since most advocates claim the system must be unconditional.
Crash course - The origins of the financial crisis THE collapse of Lehman Brothers, a sprawling global bank, in September 2008 almost brought down the world’s financial system. It took huge taxpayer-financed bail-outs to shore up the industry. Even so, the ensuing credit crunch turned what was already a nasty downturn into the worst recession in 80 years. Massive monetary and fiscal stimulus prevented a buddy-can-you-spare-a-dime depression, but the recovery remains feeble compared with previous post-war upturns. GDP is still below its pre-crisis peak in many rich countries, especially in Europe, where the financial crisis has evolved into the euro crisis. The effects of the crash are still rippling through the world economy: witness the wobbles in financial markets as America’s Federal Reserve prepares to scale back its effort to pep up growth by buying bonds. With half a decade’s hindsight, it is clear the crisis had multiple causes.
businessinsider Requiem for the American Dream | Tribeca Film Festival With Netflix bulking up on its collection of documentaries, it may be hard to figure out which ones to watch. In addition to various documentaries on everything from health care to the drug trade, the streaming service has a small, but worthy set of titles centered on the global financial system and its tumultuous history. Here are five of the best money-themed documentaries currently available to watch on Netflix. This 2015 documentary film by director Andrew Morgan exposes the harsh reality of the clothing industry’s unsustainable business practices. The Financial Crisis: The FRONTLINE Interviews | FRONTLINE Watch, Read, Share"The FRONTLINE Interviews" tell the story of history in the making. Produced in collaboration with Duke University’s Rutherfurd Living History Program. Learn more... [Obama] didn't give us a choiceRep. Cathy McMorris Rodgers (R-WA), House Republican ConferenceWatch the full interview I called [Obama] and said...there could be a bit of a contagionRobert Wolf, Chairman, UBS AmericasWatch the full interview raw exercise of power by the financial industryPhil Angelides, Financial Crisis Inquiry Commission 2009-'11Watch the full interview We...didn't get how severe this recession was going to beChristina Romer, White House Economic Adviser, 2009-'10Watch the full interview I was taking advantage of people I don't even know...Cathy O'Neil, Former analyst, D.E. Additional Transcripts
Basic Concepts of Economics In Simple Language - Clear... Inside the Meltdown | Season 27 Episode 8 | FRONTLINE Use one of the services below to sign in to PBS: You've just tried to add this video to your Watchlist so you can watch it later. But first, we need you to sign in to PBS using one of the services below. You’ll be able to manage videos in your Watchlist, keep track of your favorite shows, watch PBS in high definition, and much more! You've just tried to select this program as one of your favorites. To get you watching PBS in high definition we need you to sign in to PBS using one of the services below. You'll be able to manage videos in your Watchlist, keep track of your favorite shows, watch PBS in high definition, and much more! Don’t have a PBS Account? Creating an account is free and gets you: Access to High-Definition streamingA personal area on the site where you can access: Favorite ShowsWatchlistViewing HistoryEarly access to exciting new features
Trump and the Fed Donald Trump has thrown more than one curve ball since becoming President, but his looming choice to run the Federal Reserve Board could be his biggest bender to date. He may choose a Fed Chairman who represents the monetary policies that have favored the affluent and done little or nothing for the real economy. Mr. Donald Trump has thrown more than one curve ball since becoming President, but his looming choice to run the Federal Reserve Board could be his biggest bender to date. Mr.
Tough market abuse rules should cover currency markets - BoE's Carney World needs to end risky reliance on U.S. dollar: BoE's Carney Le Quantitative Easing (QE), c'est quoi? Comment une banque centrale peut-elle injecter de l'argent dans l'économie? Elle imprime des billets et basta? Le Captain' vous explique tout cela, en vous introduisant le concept de l'assouplissement quantitatif, alias le Quantitative Easing. Pour augmenter la masse monétaire en circulation, la banque centrale dispose d'un outil conventionnel : le taux directeur. Mais avec la crise financière, un outil dont on entendait peu parler auparavant est réapparu : le "quantitative easing". C'est à partir de cette période, c'est à dire fin 2008, que la Federal Reserve a commencé ses opérations de Quantitative Easing. 1) En accord avec le trésor, la Banque Centrale (ici celle d'Angleterre) crée de la monnaie. 2) Pour injecter cet argent fraîchement crée, la Banque Centrale achète des bons souverains aux institutions financières (banques, compagnies d'assurances, fonds de pension).
Quantitative easing Expansionary monetary policy to stimulate the economy typically involves the central bank buying short-term government bonds to lower short-term market interest rates. However, when short-term interest rates approach or reach zero, this method can no longer work (a situation known as a liquidity trap). In such circumstances, monetary authorities may then use quantitative easing to further stimulate the economy, by buying specified quantities of financial assets without reference to interest rates, and by buying riskier or longer maturity assets (other than short-term government bonds), thereby lowering interest rates further out on the yield curve. Quantitative easing can help bring the economy out of recession and help ensure that inflation does not fall below the central bank's inflation target. Process[edit] Standard central bank monetary policies are usually enacted by buying or selling government bonds on the open market to reach a desired target for the interbank interest rate.