“Because we have decided a unit of money represents a portion of inclusion within the system, when a person accumulates a great deal of money, they also have a greater degree of inclusion or representation.”
Money represents a social agreement, which has implications for how we value wealthy people. Bitcoin replaces the need for this social agreement with technology, and in doing so challenges the values we ascribe to wealth.
Females are prescribed psychiatric drugs at much higher rates than men. Females also tend to be more emotional (wide generalization). Processing emotions takes time, and time spent on emotional work is time NOT spent generating revenue. Ultimately, the trend of medicating female emotion (and emotion in general) is a money-driven one.
We all hate surge pricing, but it's a great way for Uber and its drivers to capture more value. What if GrubHub, Starbucks, etc. charged customers more during peak hours in order to pay service workers better? Could we ever break the cycle of reliance on cheap labor?
What's the economic explanation behind the rise of the term "basic"? Is this a new phenomenon, or merely a quality of human nature evident due to economic and technical changes?
Would you pay $35 for a Raspberry Pi? No, not the food, it's a miniature computer! This device can be revolutionary for the 75 million Americans without internet access.
It used to be that the strongest hunter had the most value in society. Today, the nerdy ideas man has the most worth. What happened?
Innovation is cyclical and inspired by other innovation. For example, this article was inspired by my purchase of innovative new ice cube trays. Read about how product variety is created, and how it can be a bad thing.
America is in trouble if the cost of Third World labor increases. As has been the tradition for all of human history, our economic success depends on the accessibility cheap and near-slave labor. How can we grow when this ends?
Count von Count is never wrong, because he loves numbers!
Regulation in the last few years has made the stock market much less profitable, much to the chagrin of finance professionals (such as the pictured men). Is this a good or bad thing? To answer, we must decide who the stock market exists for.
How is Noble award winning economist Robert Lucas similar to the philosopher Hegel? Both recogonized that policy and theory are intrinsically rooted in their time.
When you take a hard science (mathematics) and a soft science (philosophy) and mash them together, what do you get? Economics, the hardest of the soft sciences!
Correlation does not equal causation
is a great rule of thumb.
If you always follow it,
you'll avoid looking dumb!
Social trust has been found to affect GDP. It's lower among minorities. (Perhaps why the individuals trust-falling in this stock photo are white?)
I recently read an article by Will Davies that brought up an interesting question: How did mounting inequality succeed in proving culturally and politically attractive for as long...
