Interesting and unimaginative to attribute the democrat presidents economic track record to luck…
Source: Boing Boing
Are frivolous driverless cars going to one day clog the roads?
Yes, most likely! As long as we don’t charge them a certain amount per mile or develop some intricate rules to prevent ‘car spamming’…
A look at the rise in billionaires.
The number of billionaires is forecast to grow by 38% to 2,315 in the decade to 2023, according to Knight Frank’s annual Wealth Report which is carried out by the research company Wealth Insight. (via BBC News)
The way the world’s financial markets ‘work’ has ceased to follow classical models, and now the experts cannot track risk. Welcome to the postnormal.
Susanne Walker and Liz Capo McCormick, Unstoppable $100 Trillion Bond Market Renders Models Useless - Bloomberg
If the insatiable demand for…
This is an interesting visualization of the gargantuan challenges when the push based model meets a pull driven world. I have a difficulty finding a more telling image of a society which have reached the end of the materialistic factory/producer-consumer organization model S-curve and have entered a postnormal situation! (Or what do you say, Stowe?)
Peter Dorman, econospeak.blogspot.com
What Capital in the Twenty-First Century does is to enlarge your perspective. For decades, the discussion had all been about the kids at your school and how much to reward the ones who have what it takes to go further. No one talked about that other school because it was smaller, and above all because it was behind a locked gate and hard to find out about.
Every year I ask my class on “Wealth and Poverty” to play a simple game. I have them split up into pairs, and imagine I’m giving one of them $1,000. They can keep some of the money only on condition they reach a deal with their partner on how it’s to be divided up between them. I explain they’re…
*So, whatever happened in 1970, one wonders
A theory: In 1970:s was the first serious oil crisis. One thing it meant was that the companies that felt the shocks, part from decreasing their dependencies from oil, which wasn’t that important in the US, probably increased the speed of automation and thus decreased the need for people in the production. At least they got an argument for speeding up yhe automation. In e g Sweden 1970:s are known for the period when the number of employees in the production economy peaked. In other words it was then we in Sweden entered the service society. Another thing that happened was that the US started to print money in an unprecedend scale which most likely fuelled the process of financialization where the gravity of the economy in a serious way shifted from a production base to a base of finance. I think what we see in this graph the effect of increased automation multiplied with the effects of increased financialization.
The Most Important Economic Chart
The chart shows that productivity, or output per hour of work, has quadrupled since 1947 in the United States. This is a spectacular achievement by an advanced economy.
The gains in productivity were quite widely shared from 1947 to 1980. Real income for the median U.S. family doubled during this time just as output per hour of work performed doubled. The rising tide was lifting all boats.
However, what we want to focus on today is the remarkable separation in productivity and median real income since 1980. While the United States is producing twice as much per hour of work today compared to 1980, a small part of the gain in real income has gone to the bottom half of the income distribution. The gap between productivity and median real income is at an historic all-time high today.
Full Story: House of Debt
To be able to see the future emerge we have to throw a wide net to catch the weak signals. In this tumble I collect things I find valuable for my work as scenario planner, strategist and futurist - for more info about me go to www.futuramb.se.